Three-Unit Triplex with Screened
For Sale
$325,000
234 Bowman St, Scranton, PA 18519
A multi-level property with off-street parking, a yard, and a mix of covered and screened porch space.
Property Size2,850 SF
Price / SF$114.04
Days on Market11
Property Features for 234 Bowman St
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
little TLC
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,634
Building Details
Buildings
1
Listing Agency:
United RealEstate Strive212 LV
Listed By:
Gretta Almanzar
(610) 351-0212
Source:
Exprealty
Added: Sep 22
Changed: Oct 2
Last Checked: Oct 1 at 2:10PM
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 United RealEstate Strive212 LV
Investment Insights
Based on property information with market context.
This three-unit, multi-level residential property contains 2,850 square feet. Interior features include hardwood floors, plaster walls, crown molding, and built-in bedroom closets. Wall and window units provide cooling, while hot water heat serves the building. The basement has a concrete floor, stone walls, exposed wood joists, and circuit breakers.
Exterior details include vinyl and wood siding, a shingle roof, off-street parking, and a yard. The property also has a covered front porch and a screened porch.
Exterior details include vinyl and wood siding, a shingle roof, off-street parking, and a yard. The property also has a covered front porch and a screened porch.
Key Highlights
- Three units across a multi‑level residence
- 2,850 square feet of building area
- Hardwood floors, plaster walls, and crown molding
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
$23,503
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
7.23%
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%
$470,060
$470.1K
Cap Rate 7%
$335,757
$335.8K
Cap Rate 9%
$261,144
$261.1K
Market Conditions
NOI Build-Up for 2,850 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
$35.9K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$33.6K $11.78/SF
− OpEx
−$10.1K −$3.53/SF
NOI
$23.5K $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%
$470,060
Cap Rate 7%
$335,757
Cap Rate 9%
$261,144
Alternative Uses
Best Use
Multifamily LT 5
$335.8K
$293.8K – $391.7K
NOI $23,503 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$313.9K
$274.7K – $366.2K
NOI $21,972 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$723.4K
$633.0K – $844.0K
NOI $50,637 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 18519, PA
5,000
Population
2,672
Households
1.9
Avg Household Size
45
Median Age
26%
College-Educated
86%
High-School Grad
2.4 sq mi
ZIP Area
2,083
Density / Sq Mi
$58,061
Median Household Income
$44,533
Median Earnings
$924
Median Rent
$165,300
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?
Triplex - A multi-level property with off-street parking, a yard, and a mix of covered and screened porch space.
Where is this triplex located?
The property is located at 234 Bowman St Scranton, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three units across a multi‑level residence; 2,850 square feet of building area; Hardwood floors, plaster walls, and crown molding
