Two-Unit Duplex with Separate
For Sale
$369,500
328-330 15th Avenue, Scranton, PA 18504
Both residences offer two bedrooms, two bathrooms, laundry, hardwood flooring, and additional storage or flexible finished space.
Property Size2,471 SF
Days on Market18
Property Features for 328-330 15th Avenue
General Information
Standard status
Active
Size
2,471 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,411
Amenities
main level laundry
gazebo
attic storage
Building Details
Building Size
2,471 SF
Year Built
1930
Listing Agency:
Iron Valley Real Estate Greater Scranton
Listed By:
Lizbeth Vaquero · License #RS355766
(570) 309-1334
Source:
Luxehomesnepa
Added: Sep 3
Changed: Sep 19
Last Checked: Sep 20 at 10:30AM
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 Iron Valley Real Estate Greater Scranton
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two spacious residences, each with two bedrooms, two bathrooms, main-level laundry, hardwood flooring, newer carpeting, and fresh paint. One unit adds finished lower-level space with another bathroom, while attic storage expands the property’s utility. Separate gas, electric, and water meters serve each side, supporting distinct household operations.
The property includes a landscaped backyard with garden areas and a gazebo, plus an additional approximately 50x100 parcel with its own driveway. Located in West Scranton near a high school and middle school, the duplex also offers convenient access to major highways. The configuration supports an owner-occupant arrangement with the other unit available for rental use.
The property includes a landscaped backyard with garden areas and a gazebo, plus an additional approximately 50x100 parcel with its own driveway. Located in West Scranton near a high school and middle school, the duplex also offers convenient access to major highways. The configuration supports an owner-occupant arrangement with the other unit available for rental use.
Key Highlights
- Two duplex units, each with 2 bedrooms, 2 bathrooms, and main‑level laundry
- Separate utilities include 2 gas meters, 2 electric meters, and 2 water meters
- One unit includes finished lower‑level space with an extra 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
$20,378
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
5.52%
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%
$407,560
$407.6K
Cap Rate 7%
$291,114
$291.1K
Cap Rate 9%
$226,422
$226.4K
Market Conditions
NOI Build-Up for 2,471 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
$31.1K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$29.1K $11.78/SF
− OpEx
−$8.7K −$3.53/SF
NOI
$20.4K $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%
$407,560
Cap Rate 7%
$291,114
Cap Rate 9%
$226,422
Alternative Uses
Best Use
Multifamily LT 5
$291.1K
$254.7K – $339.6K
NOI $20,378 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$272.1K
$238.1K – $317.5K
NOI $19,050 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$627.2K
$548.8K – $731.7K
NOI $43,903 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
742
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 - Both residences offer two bedrooms, two bathrooms, laundry, hardwood flooring, and additional storage or flexible finished space.
Where is this duplex located?
The property is located at 328-330 15th Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $369,500.
What are key features of this property?
This property features: Two duplex units, each with 2 bedrooms, 2 bathrooms, and main‑level laundry; Separate utilities include 2 gas meters, 2 electric meters, and 2 water meters; One unit includes finished lower‑level space with an extra bathroom
