Spacious Multi-Unit Investment
For Sale
$299,000
Pending
220 Colfax Avenue, Scranton, PA 18510
MULTI_FAMILY - Scranton, PA
Property Size3,259 SF
Lot Size0.15 Acres
Days on Market81
Property Features for 220 Colfax Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R#
Zoning description
Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 7, Bathroom 1, Bathroom 3, Basement, Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 3
Parking features
Driveway, On Street, Offsite
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Fireplace
1
Basement
Block
Appliances
Free-Standing Refrigerator, Gas Oven
Lot features
Back Yard, City Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Up Mulberry Street towards Nay Aug Park. Turn right on Colfax Avenue, house is on the right.
Standard status
Pending
APN
15714020011
Size
3,259 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X160 Li&C Town Plot L 5 B 188 W-17 B-061A L-019 P-005
Tax Annual Amount
5349
Legal Description
40X160 Li&C Town Plot L 5 B 188 W-17 B-061A L-019 P-005
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Vinyl, Hardwood
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Diane Stracham · License #RS318034
(570) 241-3982
Added: May 12
Changed: Jul 28
Last Checked: Jul 31 at 11:06PM
MLS# SC262146
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This large three-unit property, offering over 3200 square feet of living space, presents a great investment opportunity. It is located next to Geisinger Medical Center, blocks away from Nay Aug Park, and close to The University of Scranton. The building features three spacious units with two and three-bedroom layouts, each including large eat-in kitchens, making it ideal for strong rental income. Each unit has separate electrical panels. The first and second floors have been updated. Situated on a lot of 0.15 acres, this property has strong rental potential in a prime location and can be very profitable for investors or anyone looking to grow their portfolio. The property is located in Scranton, Lackawanna County, Pennsylvania.
Key Highlights
- 3‑unit property built in 1930 with over 3,200 SF of living space
- Three 2- and 3‑bedroom units with large eat‑in kitchens
- Separate electrical panels for each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.1k | $12.60 |
| − Vacancy | −$2.7k | −$0.82 |
| EGI | $38.4k | $11.78 |
| − OpEx | −$11.5k | −$3.53 |
| NOI | $26.9k | $8.25 |
3,259 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$383.9K
$336.0K – $447.9K
NOI $26,876 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$358.9K
$314.1K – $418.8K
NOI $25,125 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$827.2K
$723.8K – $965.1K
NOI $57,904 @ 7.0% cap · market cap 19.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
859
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property near Geisinger Medical Center and University of Scranton.
Where is this triplex located?
The property is located at 220 Colfax Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 3‑unit property built in 1930 with over 3,200 SF of living space; Three 2- and 3‑bedroom units with large eat‑in kitchens; Separate electrical panels for each unit
