Newly Built Two-Unit
For Sale
$425,000
216 Harrison Ave, Scranton, PA 18510
Fully occupied duplex with tenant-paid utilities and separate deed documentation.
Property Size2,170 SF
Price / SF$195.85
Days on Market183
Property Features for 216 Harrison Ave
General Information
Standard status
Active
Size
2,170 SF
Property subtype
Multi-Family
Building Details
Year Built
2024
Listing Agency:
Steel City Realty
Listed By:
Jennifer de Jesus · License #RM423820
(484) 895-9005
Source:
Nepahousehunt
Added: Apr 16
Changed: Oct 1
Last Checked: Oct 14 at 11:36PM
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 Steel City Realty
Investment Insights
Based on property information with market context.
This brand-new duplex contains 2 units within 2,170 square feet and is currently 100% occupied. The property is held under an individual deed, and tenants pay all utilities. Its two-unit configuration provides an established residential income setup in a newly constructed building.
Located at 216 Harrison Ave in Scranton, PA, the property is identified as being within a Federal Opportunity Zone (18510). FHA and VA eligibility is also supported by the available property information. Current occupancy and utility arrangements are already in place for the existing tenancy.
Located at 216 Harrison Ave in Scranton, PA, the property is identified as being within a Federal Opportunity Zone (18510). FHA and VA eligibility is also supported by the available property information. Current occupancy and utility arrangements are already in place for the existing tenancy.
Key Highlights
- Brand‑new duplex with 2 units
- 100% occupied
- 2,170 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,895
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,900
$357.9K
Cap Rate 7%
$255,643
$255.6K
Cap Rate 9%
$198,833
$198.8K
Market Conditions
NOI Build-Up for 2,170 SF
Gross rent
$27.3K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$25.6K $11.78/SF
− OpEx
−$7.7K −$3.53/SF
NOI
$17.9K $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%
$357,900
Cap Rate 7%
$255,643
Cap Rate 9%
$198,833
Alternative Uses
Best Use
Multifamily LT 5
$255.6K
$223.7K – $298.3K
NOI $17,895 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$239.0K
$209.1K – $278.8K
NOI $16,729 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$550.8K
$481.9K – $642.6K
NOI $38,555 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,281
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with tenant-paid utilities and separate deed documentation.
Where is this duplex located?
The property is located at 216 Harrison Ave Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Brand‑new duplex with 2 units; 100% occupied; 2,170 square feet of property size
