Remodeled Duplex
For Sale
$429,900
227-229 N Sumner Avenue, Scranton, PA 18504
Two tenant-occupied units feature updated kitchens, private outdoor areas, and concrete off-street parking.
Property Size3,150 SF
Days on Market25
Property Features for 227-229 N Sumner Avenue
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,735
Building Details
Building Size
3,150 SF
Year Built
1920
Listing Agency:
Lewith & Freeman RE, Inc.
(570) 585-0600
Listed By:
Maureen K Edwards · License #RS158499A
Source:
Luxehomesnepa
Added: Aug 7
Changed: Aug 30
Last Checked: Aug 30 at 10:58PM
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 Lewith & Freeman RE, Inc.
Investment Insights
Based on property information with market context.
This duplex property contains two three-bedroom residences with remodeled kitchens, granite countertops, full appliance packages, oak hardwood floors, and first-floor laundry. The 227 unit includes a primary suite, vaulted ceilings, a Juliette balcony, two and a half baths, and a partially finished basement family room. Both residences have finished third floors with an additional bedroom and walk-in closet; the third floors are not air conditioned. Gas heat and central air conditioning serve the main living areas.
Covered porches, decks, stockade vinyl fencing, and a concrete driveway provide functional outdoor and parking improvements. The property is recorded in one deed across two tax map numbers. Long-term tenants occupy the units on month-to-month arrangements, while the owner pays water, sewer, and garbage expenses.
Covered porches, decks, stockade vinyl fencing, and a concrete driveway provide functional outdoor and parking improvements. The property is recorded in one deed across two tax map numbers. Long-term tenants occupy the units on month-to-month arrangements, while the owner pays water, sewer, and garbage expenses.
Key Highlights
- Two three‑bedroom duplex units with remodeled interiors
- 227 unit includes a primary suite, vaulted ceilings, and Juliette balcony
- Remodeled kitchens with granite counters and full appliance packages
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
$25,977
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
6.04%
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%
$519,540
$519.5K
Cap Rate 7%
$371,100
$371.1K
Cap Rate 9%
$288,633
$288.6K
Market Conditions
NOI Build-Up for 3,150 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
$39.7K $12.60/SF
− Vacancy
−$2.6K −$0.82/SF
EGI
$37.1K $11.78/SF
− OpEx
−$11.1K −$3.53/SF
NOI
$26.0K $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%
$519,540
Cap Rate 7%
$371,100
Cap Rate 9%
$288,633
Alternative Uses
Best Use
Multifamily LT 5
$371.1K
$324.7K – $433.0K
NOI $25,977 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$346.9K
$303.6K – $404.7K
NOI $24,284 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$799.5K
$699.6K – $932.8K
NOI $55,967 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
888
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 - Two tenant-occupied units feature updated kitchens, private outdoor areas, and concrete off-street parking.
Where is this duplex located?
The property is located at 227-229 N Sumner Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two three‑bedroom duplex units with remodeled interiors; 227 unit includes a primary suite, vaulted ceilings, and Juliette balcony; Remodeled kitchens with granite counters and full appliance packages
