Updated Four-Unit Apartment
For Sale
$589,000
211 Arthur Avenue, Scranton, PA 18510
Apartments offer separate heat and electric, tile bathrooms, hardwood floors, and off-street parking.
Property Size5,000 SF
Days on Market10
Property Features for 211 Arthur Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$542
Building Details
Building Size
5,000 SF
Year Built
1915
Listing Agency:
Dwell Real Estate
Listed By:
Nell Donnelly-O'Boyle · License #RB068828
Source:
Luxehomesnepa
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 11 at 12:33PM
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 Dwell Real Estate
Investment Insights
Based on property information with market context.
Built in 1915, this four-unit apartment property features apartments with strong natural light, tile bathrooms, and hardwood flooring. Separate heat and electric provide distinct utility service for the units, while off-street parking supports the property’s residential configuration. Updates have been made throughout the building.
The property is directly across from Nay Aug Park, the Greenhouse, and Blackwatch Cafe in Scranton. Showings are available on designated days only.
The property is directly across from Nay Aug Park, the Greenhouse, and Blackwatch Cafe in Scranton. Showings are available on designated days only.
Key Highlights
- Four‑unit apartment property built in 1915
- Separate heat and electric for the units
- Apartments feature tile bathrooms and hardwood flooring
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
$41,234
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
7.00%
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%
$824,680
$824.7K
Cap Rate 7%
$589,057
$589.1K
Cap Rate 9%
$458,156
$458.2K
Market Conditions
NOI Build-Up for 5,000 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
$63.0K $12.60/SF
− Vacancy
−$4.1K −$0.82/SF
EGI
$58.9K $11.78/SF
− OpEx
−$17.7K −$3.53/SF
NOI
$41.2K $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%
$824,680
Cap Rate 7%
$589,057
Cap Rate 9%
$458,156
Alternative Uses
Best Use
Multifamily LT 5
$589.1K
$515.4K – $687.2K
NOI $41,234 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$550.7K
$481.8K – $642.5K
NOI $38,547 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,836 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
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?
Quadplex - Apartments offer separate heat and electric, tile bathrooms, hardwood floors, and off-street parking.
Where is this quadplex located?
The property is located at 211 Arthur Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Four‑unit apartment property built in 1915; Separate heat and electric for the units; Apartments feature tile bathrooms and hardwood flooring
