Remodeled Duplex with Off-Street
For Sale
$425,000
342 Harrison Avenue, Scranton, PA 18510
MULTI_FAMILY - Other - Scranton, PA
Property Size3,171 SF
Lot Size0.15 Acres
Price / SF$134.03
Days on Market542
Property Features for 342 Harrison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 2
Parking features
Parking Lot, Off Street, Alley
Interior features
Eat-in Kitchen
Exterior features
Rain Gutters
Appliances
Dishwasher, Microwave, Gas Range
Lot features
Back Yard, Views, Sloped, Front Yard
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From 81 you would get off at Moosic street or River st. Take Moosic street down to Harrison Ave and turn Right. Go across Harrison Ave Bridge and the house will be on your right.
Standard status
Active
APN
15709060072
Size
3,171 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4327
Utilities
Utilities
Water Available
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Tile, Wood, Vinyl, Carpet
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Thomas Exeter · License #RS353357
(570) 499-3333
Added: Feb 28, 2025
Changed: Aug 7
Last Checked: Aug 24 at 7:06AM
MLS# SC250831
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 remodeled 2-unit duplex offers separate utilities for each unit and a layout designed for flexible living and rental use. The home includes an eat-in kitchen and finishes featuring wood, tile, carpet, and vinyl flooring. Appliances include a dishwasher, microwave, and gas range. Heating is provided by natural gas, and the exterior includes vinyl siding, rain gutters, and a shingle roof. Interior and living space updates include work through the basement to the third floor. The property includes 6 total bedrooms and off-street parking features, with access noted via an alley and parking lot.
Set on a 0.15-acre lot in Scranton’s Historic Hill section, the property is described as minutes from hospitals and the University of Scranton, and near the city’s largest park. Easy highway access is noted for a commute of about two hours to New York City, New Jersey, or Philadelphia.
Built in 1910, the home has public water service and “water available” is noted as part of the utilities package.
Set on a 0.15-acre lot in Scranton’s Historic Hill section, the property is described as minutes from hospitals and the University of Scranton, and near the city’s largest park. Easy highway access is noted for a commute of about two hours to New York City, New Jersey, or Philadelphia.
Built in 1910, the home has public water service and “water available” is noted as part of the utilities package.
Key Highlights
- 0.15‑acre lot and 3,171 SF remodeled 2‑unit duplex
- Separate utilities for each unit
- 6 total bedrooms
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
$26,150
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
6.15%
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%
$523,000
$523.0K
Cap Rate 7%
$373,571
$373.6K
Cap Rate 9%
$290,556
$290.6K
Market Conditions
NOI Build-Up for 3,171 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
$40.0K $12.60/SF
− Vacancy
−$2.6K −$0.82/SF
EGI
$37.4K $11.78/SF
− OpEx
−$11.2K −$3.53/SF
NOI
$26.2K $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%
$523,000
Cap Rate 7%
$373,571
Cap Rate 9%
$290,556
Alternative Uses
Best Use
Multifamily LT 5
$373.6K
$326.9K – $435.8K
NOI $26,150 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$349.2K
$305.6K – $407.4K
NOI $24,446 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$804.9K
$704.3K – $939.0K
NOI $56,340 @ 7.0% cap · market cap 13.26%
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
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
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 - R2 zoned 2-unit duplex with off-street parking, separate utilities, and a fully remodeled interior.
Where is this duplex located?
The property is located at 342 Harrison Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 0.15‑acre lot and 3,171 SF remodeled 2‑unit duplex; Separate utilities for each unit; 6 total bedrooms
