Two-Unit Duplex With Separate
New
For Sale
$375,000
328-330 15th Avenue, Scranton, PA 18504
Residential Income, Scranton, PA
Property Size2,471 SF
Lot Size0.22 Acres
Price / SF$151.76
Days on Market2
Property Features for 328-330 15th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R1
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Basement
Parking
2
Parking features
On Street, Off Street
Patio and Porch features
Porch
Interior features
Kitchen Island, Recessed Lighting, Attic Storage
Exterior features
Garden, Private Yard
Basement
Partially Finished
Lot features
Back Yard, Level, Garden, Corner Lot, Cleared
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Take Luzerne Street to 15th Avenue. Turn right onto 15th Avenue the property is approximately one block in on the corner.
Standard status
Active
APN
14517020017
Size
2,471 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
50X100 J Heerman S Hyde Pk Ptl 16 B56 W-05 B-033 L-006 P-015
Tax Annual Amount
3411
Legal Description
50X100 J Heerman S Hyde Pk Ptl 16 B56 W-05 B-033 L-006 P-015
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
landscaped backyard
garden areas
gazebo
main level laundry
attic storage
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Carpet, Varies, Hardwood, Tile, Laminate
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Additional Structures
Gazebo, Storage
Listing Agency:
Iron Valley Real Estate Greater Scranton
(570) 300-4766
Listed By:
Lizbeth Vaquero · License #RS355766
(570) 309-1334
Added: Sep 3
Last Checked: Sep 4 at 3:06PM
MLS# SC264378
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.
Located at 328-330 15th Avenue in West Scranton, this 2,471-square-foot duplex contains two spacious units. Each side offers two bedrooms, two bathrooms, main-level laundry, hardwood flooring, carpeting, tile, and laminate finishes. One unit also includes finished lower-level space with an additional bathroom, while attic storage provides added utility. The property has vinyl siding, a composition roof, natural gas heat, window-unit cooling, and a public water source.
Separate gas, electric, and water meters serve the two units. Exterior features include a landscaped 0.22-acre lot with garden areas, a gazebo, private yard, and porch, along with on-street and off-street parking. The sale also includes an approximately 50-by-100-foot parcel with its own driveway. The property is near West Scranton High School and middle school, with access to major highways. Built in 1930, the duplex is designated R1.
Separate gas, electric, and water meters serve the two units. Exterior features include a landscaped 0.22-acre lot with garden areas, a gazebo, private yard, and porch, along with on-street and off-street parking. The sale also includes an approximately 50-by-100-foot parcel with its own driveway. The property is near West Scranton High School and middle school, with access to major highways. Built in 1930, the duplex is designated R1.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 bathrooms in each side
- Separate gas, electric, and water meters for the two units
- One unit includes finished lower‑level space and an additional 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
5.43%
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 5.43%
Second Best
Apartment 5plus
$272.1K
$238.1K – $317.5K
NOI $19,050 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$627.2K
$548.8K – $731.7K
NOI $43,903 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - R1-zoned duplex with flexible lower-level space, outdoor areas, and an additional parcel with its own driveway.
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 $375,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 bathrooms in each side; Separate gas, electric, and water meters for the two units; One unit includes finished lower‑level space and an additional bathroom
