2-Unit
New
For Sale
$140,000
304-306 Phelps Street, Scranton, PA 18509
Residential Income, Scranton, PA
Property Size1,408 SF
Lot Size0.03 Acres
Price / SF$99.43
Days on Market3
Property Features for 304-306 Phelps Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
On Street
Patio and Porch features
Deck
Fencing
Chain Link
Appliances
Refrigerator
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Turn left onto E Gibson St from Madison Ave. 1/2 mile turn right onto Capouse Ave, and then turn right onto Phelps St.
Standard status
Active
APN
14516040002
Size
1,408 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
48X31 Bldg & Land W-07 B-0190 L-008P P-00200
Tax Annual Amount
2050
Legal Description
48X31 Bldg & Land W-07 B-0190 L-008P P-00200
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Wood, Combination, Varies
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
Amanda Frey
(272) 772-6809
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 7:06PM
MLS# SC264976
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 two-level duplex contains 1,408 square feet across its upper and lower residences. Both units are currently rented on month-to-month terms. The lower residence needs repairs, while the upper unit could benefit from updates. Natural gas provides heat, and the property includes a deck.
The 0.03-acre parcel is zoned R2. Public water and public sewer serve the property, which was built in 1900.
The 0.03-acre parcel is zoned R2. Public water and public sewer serve the property, which was built in 1900.
Key Highlights
- Two residences, both rented on month‑to‑month terms
- 1,408 square feet of building area
- 0.03‑acre lot zoned R2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,611
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,220
$232.2K
Cap Rate 7%
$165,871
$165.9K
Cap Rate 9%
$129,011
$129.0K
Market Conditions
NOI Build-Up for 1,408 SF
Gross rent
$17.7K $12.60/SF
− Vacancy
−$1.2K −$0.82/SF
EGI
$16.6K $11.78/SF
− OpEx
−$5.0K −$3.53/SF
NOI
$11.6K $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 Rate 5%
$232,220
Cap Rate 7%
$165,871
Cap Rate 9%
$129,011
Alternative Uses
Best Use
Multifamily LT 5
$165.9K
$145.1K – $193.5K
NOI $11,611 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$155.1K
$135.7K – $180.9K
NOI $10,855 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$357.4K
$312.7K – $416.9K
NOI $25,016 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied under month-to-month rental agreements.
Where is this duplex located?
The property is located at 304-306 Phelps Street Scranton, PA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two residences, both rented on month‑to‑month terms; 1,408 square feet of building area; 0.03‑acre lot zoned R2
