Updated Two-Unit
For Sale
$329,900
1810-1812 Lafayette St, Scranton, PA 18504
Separate apartments offer flexible occupancy, rental, and storage options with off-street parking and a driveway.
Property Size2,231 SF
Price / SF$147.87
Days on Market54
Property Features for 1810-1812 Lafayette St
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
wraparound front porch
driveway
large attic for extra storage
Building Details
Year Built
1930
Tenancy
Single
Listing Agency:
RE/MAX Best
(570) 698-7299
Listed By:
Heather L Meagher · License #AB068538
Source:
Revolvepa
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 6:50PM
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 RE/MAX Best
Investment Insights
Based on property information with market context.
Built in 1930, this 2,231-square-foot duplex contains two three-bedroom, one-bath apartments. Both units feature open living areas, a mudroom adjoining the kitchen, and access to a large attic for storage. One apartment is vacant and has received new flooring, kitchen improvements, and bathroom updates. The other is occupied and was updated approximately 11 years ago.
The property includes city gas, a wraparound front porch, and off-street parking served by a driveway. A complete roof tear-off was completed in 2022, including replacement of the plywood beneath the roof covering. Located at 1810-1812 Lafayette St in West Scranton, the duplex is near schools, shopping, local amenities, and major routes.
The property includes city gas, a wraparound front porch, and off-street parking served by a driveway. A complete roof tear-off was completed in 2022, including replacement of the plywood beneath the roof covering. Located at 1810-1812 Lafayette St in West Scranton, the duplex is near schools, shopping, local amenities, and major routes.
Key Highlights
- 2,231‑square‑foot duplex with two 3‑bedroom, 1‑bath apartments
- Vacant unit updated with new flooring, kitchen, and bathroom
- Occupied apartment was updated approximately 11 years ago
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
$18,398
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
5.58%
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%
$367,960
$368.0K
Cap Rate 7%
$262,829
$262.8K
Cap Rate 9%
$204,422
$204.4K
Market Conditions
NOI Build-Up for 2,231 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
$28.1K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$26.3K $11.78/SF
− OpEx
−$7.9K −$3.53/SF
NOI
$18.4K $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%
$367,960
Cap Rate 7%
$262,829
Cap Rate 9%
$204,422
Alternative Uses
Best Use
Multifamily LT 5
$262.8K
$230.0K – $306.6K
NOI $18,398 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$245.7K
$215.0K – $286.7K
NOI $17,200 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$566.3K
$495.5K – $660.7K
NOI $39,639 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
716
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments offer flexible occupancy, rental, and storage options with off-street parking and a driveway.
Where is this duplex located?
The property is located at 1810-1812 Lafayette St Scranton, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 2,231‑square‑foot duplex with two 3‑bedroom, 1‑bath apartments; Vacant unit updated with new flooring, kitchen, and bathroom; Occupied apartment was updated approximately 11 years ago
