4-Unit
New
For Sale
$399,000
1513-1515 Lafayette Street, Scranton, PA 18504
Gas and electric utilities are separate for each residence; the owner handles water and sewer.
Property Size4,094 SF
Days on Market5
Property Features for 1513-1515 Lafayette Street
General Information
Standard status
Active
Size
4,094 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,323
Building Details
Building Size
4,094 SF
Year Built
1940
Listing Agency:
EXP Realty LLC
Listed By:
Sheye-Anne O'Malley
(910) 382-6069
Source:
Luxehomesnepa
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 1:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1940, this four-unit property is fully occupied. Each residence has separate gas and electric utilities, while the owner is responsible for water and sewer service.
Key Highlights
- Four‑unit property, built in 1940
- Fully occupied
- Separate gas and electric utilities for each unit; owner pays water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,762
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,240
$675.2K
Cap Rate 7%
$482,314
$482.3K
Cap Rate 9%
$375,133
$375.1K
Market Conditions
NOI Build-Up for 4,094 SF
Gross rent
$51.6K $12.60/SF
− Vacancy
−$3.4K −$0.82/SF
EGI
$48.2K $11.78/SF
− OpEx
−$14.5K −$3.53/SF
NOI
$33.8K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,240
Cap Rate 7%
$482,314
Cap Rate 9%
$375,133
Alternative Uses
Best Use
Multifamily LT 5
$482.3K
$422.0K – $562.7K
NOI $33,762 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$450.9K
$394.5K – $526.0K
NOI $31,562 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.04M
$909.2K – $1.21M
NOI $72,739 @ 7.0% cap · market cap 18.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Gas and electric utilities are separate for each residence; the owner handles water and sewer.
Where is this quadplex located?
The property is located at 1513-1515 Lafayette Street Scranton, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit property, built in 1940; Fully occupied; Separate gas and electric utilities for each unit; owner pays water and sewer
