2-Unit Side-by-Side
New
For Sale
$245,000
338 340 Evans Court, Scranton, PA 18504
Two separate residences offer updated kitchens and bathrooms, individual laundry, and independently metered utilities.
Property Size2,460 SF
Days on Market6
Property Features for 338 340 Evans Court
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Multi Family
Units
Unit Mix
3BR/1BA, 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,494
Amenities
in-unit laundry
off-street parking
Building Details
Building Size
2,460 SF
Year Built
1920
Buildings
1
Listing Agency:
Iron Valley Real Estate Greater Scranton
Listed By:
Mark Scrimalli · License #RS353478
(570) 880-8286
Source:
Luxehomesnepa
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:33PM
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
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Investment Insights
Based on property information with market context.
Built in 1920, this side-by-side duplex contains two residences with five bedrooms and two full bathrooms in total. One unit has three bedrooms, an updated full bathroom, and a refreshed kitchen with a gas stove; the other includes two bedrooms, an updated full bathroom, and an updated kitchen. Each residence has its own laundry and separate utilities.
A private driveway and off-street parking serve the property.
A private driveway and off-street parking serve the property.
Key Highlights
- Side‑by‑side duplex with two units
- Five bedrooms and two full bathrooms total; unit mix is three bedrooms and two bedrooms
- Updated kitchen and full bathroom in each unit; gas stove in the three‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,287
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,740
$405.7K
Cap Rate 7%
$289,814
$289.8K
Cap Rate 9%
$225,411
$225.4K
Market Conditions
NOI Build-Up for 2,460 SF
Gross rent
$31.0K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$29.0K $11.78/SF
− OpEx
−$8.7K −$3.53/SF
NOI
$20.3K $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%
$405,740
Cap Rate 7%
$289,814
Cap Rate 9%
$225,411
Alternative Uses
Best Use
Multifamily LT 5
$289.8K
$253.6K – $338.1K
NOI $20,287 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$270.9K
$237.1K – $316.1K
NOI $18,965 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$624.4K
$546.4K – $728.5K
NOI $43,708 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
955
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer updated kitchens and bathrooms, individual laundry, and independently metered utilities.
Where is this duplex located?
The property is located at 338 340 Evans Court Scranton, PA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two units; Five bedrooms and two full bathrooms total; unit mix is three bedrooms and two bedrooms; Updated kitchen and full bathroom in each unit; gas stove in the three‑bedroom unit
