Renovated Two-Unit
For Sale
$340,000
2306 Ash Street, Scranton, PA 18510
MULTI_FAMILY - Other - Scranton, PA
Property Size3,171 SF
Lot Size0.14 Acres
Price / SF$107.22
Days on Market8
Property Features for 2306 Ash Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Zoning description
Residential
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 8, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 7, Bedroom 6
Parking features
Off Street, On Street, Driveway
Patio and Porch features
Porch, Deck
Exterior features
Private Yard, Storage
Basement
Walk-Out Access
Appliances
Dishwasher, Refrigerator, Stainless Steel Appliance(s), Microwave, Gas Range, Electric Range
Lot features
Back Yard
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
US 11 South. Continue on US 11 South. Merge onto I-81 South. Take exit 185 toward Central Scranton Expressway. Continue onto Central Scranton Expressway. Turn right onto Ash Street. Arrive at 2306 Ash Street.
Standard status
Active
APN
15707030030
Size
3,171 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
60X100 Leader Park L 9 & 10 W-10 B-059 L-009 P-004
Tax Annual Amount
4385
Legal Description
60X100 Leader Park L 9 & 10 W-10 B-059 L-009 P-004
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
off-street parking
covered front porch
upper-level balcony
rear deck
backyard
Building Details
Year built
1930
Floors in Building
3
Number of units
2
Flooring type
Laminate, Tile
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Keller Williams Real Estate-Clarks Summit · Keller Williams Realty
(570) 585-5800
Listed By:
The Bill Chupko Team · License #RS336156
(570) 588-8030
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 12 at 1:06AM
MLS# SC263839
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 duplex contains 3,171 square feet across two residential units on a 0.14-acre lot. The first unit includes 5 bedrooms and 2 full bathrooms, while the second offers 3 bedrooms and 1 full bathroom. Renovations include refreshed kitchens, bathrooms, and flooring, with laminate and tile finishes throughout the property. Appliances include dishwashers, refrigerators, microwaves, gas ranges, electric ranges, and stainless steel appliances.
Outdoor features include a covered porch, upper-level balcony, rear deck, private yard, storage, driveway parking, and additional on-street parking. Built in 1930, the property has a shingle roof and access to public water and public sewer. R1 zoning applies.
The property is located in Scranton near schools, parks, shopping, restaurants, hospitals, and major roadways. Its two-unit configuration provides separate residential spaces within a single duplex property.
Outdoor features include a covered porch, upper-level balcony, rear deck, private yard, storage, driveway parking, and additional on-street parking. Built in 1930, the property has a shingle roof and access to public water and public sewer. R1 zoning applies.
The property is located in Scranton near schools, parks, shopping, restaurants, hospitals, and major roadways. Its two-unit configuration provides separate residential spaces within a single duplex property.
Key Highlights
- Two‑unit duplex with 3,171 square feet of total property size
- Unit 1 includes 5 bedrooms and 2 full bathrooms
- Unit 2 offers 3 bedrooms and 1 full bathroom
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
$26,150
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
7.69%
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%
$523,000
$523.0K
Cap Rate 7%
$373,571
$373.6K
Cap Rate 9%
$290,556
$290.6K
Market Conditions
NOI Build-Up for 3,171 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
$40.0K $12.60/SF
− Vacancy
−$2.6K −$0.82/SF
EGI
$37.4K $11.78/SF
− OpEx
−$11.2K −$3.53/SF
NOI
$26.2K $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%
$523,000
Cap Rate 7%
$373,571
Cap Rate 9%
$290,556
Alternative Uses
Best Use
Multifamily LT 5
$373.6K
$326.9K – $435.8K
NOI $26,150 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$349.2K
$305.6K – $407.4K
NOI $24,446 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$804.9K
$704.3K – $939.0K
NOI $56,340 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
321
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?
Duplex - Updated kitchens, bathrooms, flooring, and off-street parking support flexible residential use.
Where is this duplex located?
The property is located at 2306 Ash Street Scranton, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,171 square feet of total property size; Unit 1 includes 5 bedrooms and 2 full bathrooms; Unit 2 offers 3 bedrooms and 1 full bathroom
