Two-Unit
New
For Sale
$150,000
357 N Lincoln Avenue, Scranton, PA 18504
The two-level layout contains one one-bedroom apartment on each floor.
Property Size1,400 SF
Days on Market7
Property Features for 357 N Lincoln Avenue
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi Family
Property Condition
Severity
Major Repairs Needed
Evidence
Condemned
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,523
Building Details
Building Size
1,400 SF
Year Built
1930
Buildings
1
Listing Agency:
Marcks Evans Real Estate
Listed By:
Wayne E Evans · License #RM421529
(570) 906-8600
Source:
Luxehomesnepa
Added: Sep 21
Changed: Sep 25
Last Checked: Sep 26 at 11:20AM
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 Marcks Evans Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this duplex has two apartments arranged vertically, with one one-bedroom residence on each level. The first-floor unit has water damage resulting from a burst pipe, and the City of Scranton has condemned the property.
The property is offered as part of a package that also includes properties on Crown Avenue, Wayne Avenue, Harrison Avenue, South Webster Avenue, Cedar Avenue, and River Street in Scranton.
The property is offered as part of a package that also includes properties on Crown Avenue, Wayne Avenue, Harrison Avenue, South Webster Avenue, Cedar Avenue, and River Street in Scranton.
Key Highlights
- Two one‑bedroom apartments, arranged one per floor
- First‑floor apartment has water damage from a burst pipe
- Condemned by the City of Scranton
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
$11,545
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
7.70%
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%
$230,900
$230.9K
Cap Rate 7%
$164,929
$164.9K
Cap Rate 9%
$128,278
$128.3K
Market Conditions
NOI Build-Up for 1,400 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
$17.6K $12.60/SF
− Vacancy
−$1.1K −$0.82/SF
EGI
$16.5K $11.78/SF
− OpEx
−$4.9K −$3.53/SF
NOI
$11.5K $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%
$230,900
Cap Rate 7%
$164,929
Cap Rate 9%
$128,278
Alternative Uses
Best Use
Multifamily LT 5
$164.9K
$144.3K – $192.4K
NOI $11,545 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$154.2K
$134.9K – $179.9K
NOI $10,793 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$355.3K
$310.9K – $414.6K
NOI $24,874 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Duplex - The two-level layout contains one one-bedroom apartment on each floor.
Where is this duplex located?
The property is located at 357 N Lincoln Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two one‑bedroom apartments, arranged one per floor; First‑floor apartment has water damage from a burst pipe; Condemned by the City of Scranton
