Two-Unit Up-and-Down
New
For Sale
$200,000
1702 Wayne Avenue, Scranton, PA 18508
Residential income property with separate one-bedroom and three-bedroom floor plans.
Property Size1,794 SF
Days on Market7
Property Features for 1702 Wayne Avenue
General Information
Standard status
Active
Size
1,794 SF
Property subtype
Multi Family
Property Condition
Severity
Major Repairs Needed
Evidence
Condemned
Additional Details
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$2,528
Building Details
Building Size
1,794 SF
Year Built
1935
Buildings
6
Listing Agency:
Marcks Evans Real Estate
Listed By:
Wayne E Evans · License #RM421529
(570) 906-8600
Source:
Luxehomesnepa
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 26 at 3:02PM
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 Marcks Evans Real Estate
Investment Insights
Based on property information with market context.
This duplex at 1702 Wayne Avenue contains two residential units arranged in an up-and-down configuration. The first-floor apartment has 1 bedroom and 1 bathroom, while the second-floor apartment includes 3 bedrooms and 1 bathroom. The property was built in 1935.
The duplex is offered as part of a larger package comprising 6 buildings and 18 units in total. The package also includes properties on South Webster Avenue, Crown Avenue, North Lincoln Avenue, Harrison Avenue, Cedar Avenue, and River Street, with a combination of multifamily, single-family, and commercial space.
The duplex is offered as part of a larger package comprising 6 buildings and 18 units in total. The package also includes properties on South Webster Avenue, Crown Avenue, North Lincoln Avenue, Harrison Avenue, Cedar Avenue, and River Street, with a combination of multifamily, single-family, and commercial space.
Key Highlights
- Two‑unit up‑and‑down duplex
- First‑floor unit includes 1 bedroom and 1 bathroom
- Second‑floor unit includes 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,795
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,900
$295.9K
Cap Rate 7%
$211,357
$211.4K
Cap Rate 9%
$164,389
$164.4K
Market Conditions
NOI Build-Up for 1,794 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.6K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$21.1K $11.78/SF
− OpEx
−$6.3K −$3.53/SF
NOI
$14.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,900
Cap Rate 7%
$211,357
Cap Rate 9%
$164,389
Alternative Uses
Best Use
Multifamily LT 5
$211.4K
$184.9K – $246.6K
NOI $14,795 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$197.6K
$172.9K – $230.5K
NOI $13,831 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$455.4K
$398.4K – $531.3K
NOI $31,875 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with separate one-bedroom and three-bedroom floor plans.
Where is this duplex located?
The property is located at 1702 Wayne Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit up‑and‑down duplex; First‑floor unit includes 1 bedroom and 1 bathroom; Second‑floor unit includes 3 bedrooms and 1 bathroom
