3-Unit Triplex with Rear
New
For Sale
$288,000
338 E Elm St, Scranton, PA 18505
Three-unit residential income property with separately metered utilities and off-street parking behind the building.
Property Size2,455 SF
Price / SF$117.31
Days on Market5
Property Features for 338 E Elm St
General Information
Standard status
Active
Size
2,455 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,950
Listing Agency:
Keller Williams Real Estate - Stroudsburg
(570) 982-8777
Listed By:
Chelsea Aleksich · License #RS328668
(570) 982-8777
Source:
Exprealty
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 8:39AM
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 - Stroudsburg
Investment Insights
Based on property information with market context.
This triplex contains 3 units within 2,455 square feet of property area. Each unit has separately metered utilities, providing distinct utility arrangements for the building. Off-street parking is available at the rear of the property.
Located at 338 E Elm St in Scranton, PA, the property is offered for sale as a residential income asset. The three-unit configuration and rear parking are the primary physical features identified for the property.
Located at 338 E Elm St in Scranton, PA, the property is offered for sale as a residential income asset. The three-unit configuration and rear parking are the primary physical features identified for the property.
Key Highlights
- 3‑unit triplex configuration
- 2,455 square feet of property area
- All utilities separately metered
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
$20,246
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
7.03%
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%
$404,920
$404.9K
Cap Rate 7%
$289,229
$289.2K
Cap Rate 9%
$224,956
$225.0K
Market Conditions
NOI Build-Up for 2,455 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
$30.9K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$28.9K $11.78/SF
− OpEx
−$8.7K −$3.53/SF
NOI
$20.2K $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%
$404,920
Cap Rate 7%
$289,229
Cap Rate 9%
$224,956
Alternative Uses
Best Use
Multifamily LT 5
$289.2K
$253.1K – $337.4K
NOI $20,246 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$270.4K
$236.6K – $315.4K
NOI $18,926 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$623.1K
$545.2K – $727.0K
NOI $43,619 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
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 - Three-unit residential income property with separately metered utilities and off-street parking behind the building.
Where is this triplex located?
The property is located at 338 E Elm St Scranton, PA.
What is the asking price?
The asking price for this property is $288,000.
What are key features of this property?
This property features: 3‑unit triplex configuration; 2,455 square feet of property area; All utilities separately metered
