Updated Kitchen
For Sale
$299,000
Pending
2309 Ash Street, Scranton, PA 18510
Well-maintained three-unit triplex with updated kitchens, off-street parking, and a full basement for storage.
Property Size3,426 SF
Days on Market149
Property Features for 2309 Ash Street
General Information
Standard status
Pending
Size
3,426 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,848
Building Details
Building Size
3,426 SF
Year Built
1930
Buildings
1
Listing Agency:
Keller Williams Real Estate-Clarks Summit
Listed By:
The Bill Chupko Team · License #RS348943
(570) 588-8030
Source:
Luxehomesnepa
Added: Apr 16
Changed: Sep 9
Last Checked: Sep 10 at 7:57AM
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 Keller Williams Real Estate-Clarks Summit
Investment Insights
Based on property information with market context.
2309 Ash St is a well-maintained three-unit triplex offering updated kitchens and practical resident amenities. Each unit includes two bedrooms and one bathroom, along with a bright living room. Units 1 and 2 also feature their own convenient laundry rooms.
The property includes a full basement that provides storage and utility space. For additional off-street convenience, there is a detached garage and parking for residents.
With consistent unit layouts and key interior updates, this triplex is designed for straightforward rental use.
The property includes a full basement that provides storage and utility space. For additional off-street convenience, there is a detached garage and parking for residents.
With consistent unit layouts and key interior updates, this triplex is designed for straightforward rental use.
Key Highlights
- Three‑unit triplex at 2309 Ash St, Scranton, PA
- Updated kitchens in all units
- Each unit has two bedrooms and one 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
$26,412
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
8.83%
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%
$528,240
$528.2K
Cap Rate 7%
$377,314
$377.3K
Cap Rate 9%
$293,467
$293.5K
Market Conditions
NOI Build-Up for 3,426 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
$51.0K $14.88/SF
− Vacancy
−$3.0K −$0.86/SF
EGI
$48.0K $14.02/SF
− OpEx
−$21.6K −$6.31/SF
NOI
$26.4K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$528,240
Cap Rate 7%
$377,314
Cap Rate 9%
$293,467
Alternative Uses
Best Use
Multifamily LT 5
$403.6K
$353.2K – $470.9K
NOI $28,253 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$377.3K
$330.2K – $440.2K
NOI $26,412 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$869.6K
$760.9K – $1.01M
NOI $60,871 @ 7.0% cap · market cap 20.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
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
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?
Triplex - Well-maintained three-unit triplex with updated kitchens, off-street parking, and a full basement for storage.
Where is this triplex located?
The property is located at 2309 Ash Street 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: Three‑unit triplex at 2309 Ash St, Scranton, PA; Updated kitchens in all units; Each unit has two bedrooms and one bathroom
