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    Scranton Brick Duplex Income Property

    343 Phelps Street Scranton, PA 18509

    Claim this Listing
    For Sale
    $275,000

    MULTI_FAMILY - Scranton, PA

    Property size:
    2,000 SF
    Lot size:
    0.13 Acres
    Price / SF:
    $137/SF
    Added:
    May 25, 2026
    Days on Market:
    49
    Last Refresh:
    Jul 12 at 10:06 pm

    Property Features for 343 Phelps Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R1
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 3, Bedroom 4, Basement, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 5
    Basement
    Unfinished, Full
    Standard status
    Active
    APN
    14512050079
    Size
    2,000 SF
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    40X147 Bldg & Land W-07 B-0200 L-0120 P-01200
    Tax Annual Amount
    3007

    Building Details

    Year built
    1940
    Floors in Building
    2
    Number of units
    2

    Listing agent Manju Verma License #RS375147

    Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA

    Listing date May 25, 2026

    MLS# SC262414 Listing URL

    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 is a solid brick duplex income property that is fully rented. The property is located close to major hospitals, universities, and medical buildings, and is a 5-minute drive to Viewmont and Steamtown Malls. It is also walkable to grocery stores, downtown Scranton, and restaurants, making it suitable for nurses and medical staff. The building features separate utilities and separate entrances for each unit. Unit #1 includes 2 bedrooms, a study room, living room, kitchen, 1 bathroom, and a patio. Unit #2 features 3 bedrooms, a living room, kitchen, 1 bathroom, and a backyard. The lot size is 0.13 acres and the property size is 2000 square feet.

    Key Highlights

    • Brick duplex built in 1940 with two fully rented units
    • Unit 1 features 2 bedrooms plus a study room, 1 bath, kitchen, living room, and patio
    • Unit 2 features 3 bedrooms, 1 bath, living room, kitchen, and backyard

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $25.2k $12.60
    − Vacancy −$1.6k −$0.82
    EGI $23.6k $11.78
    − OpEx −$7.1k −$3.53
    NOI $16.5k $8.25
    2,000 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $235.6K
    $206.2K – $274.9K (±1% cap)
    NOI $16,493 @ 7.0% cap · market cap 6.00%
    Second Best
    Apartment 5plus
    $220.3K
    $192.7K – $257.0K (±1% cap)
    NOI $15,419 @ 7.0% cap · market cap 5.61%
    Theoretical Best
    Office A
    $507.6K
    $444.2K – $592.3K (±1% cap)
    NOI $35,535 @ 7.0% cap · market cap 12.92%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Locksmith (Bike/Boat/Book/etc) Store Restaurant (Bike/Boat/Book/etc) Store Florist Veterinary Clinic (Bike/Boat/Book/etc) Store Bed & Breakfast Catering Service

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Fully rented duplex near hospitals, universities, and downtown Scranton.
    Where is this duplex located?
    The property is located at 343 Phelps Street Scranton, PA.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Brick duplex built in 1940 with two fully rented units; Unit 1 features 2 bedrooms plus a study room, 1 bath, kitchen, living room, and patio; Unit 2 features 3 bedrooms, 1 bath, living room, kitchen, and backyard
    Contact an agent
    (570) 877-2778
    We can help!
    Contact an agent
    Manju Verma
    Real Estate License ID: RS375147
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