Multifamily
For Sale
$199,000
409 Prospect Ave, Scranton, PA 18505
Multifamily asset constructed in 1920.
Property Size2,280 SF
Price / SF$87.28
Days on Market83
Property Features for 409 Prospect Ave
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties
Listed By:
Colleen A Weissman · License #RS285514
(570) 840-0152
Source:
Revolvepa
Added: Jul 29
Changed: Oct 14
Last Checked: Oct 6 at 12:16AM
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 Berkshire Hathaway Home Services Preferred Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is located at 409 Prospect Ave in Scranton, Pennsylvania. Constructed in 1920, the asset is classified as a multifamily property and is offered for sale.
Key Highlights
- Multifamily property in Scranton, PA
- Built in 1920
- Located at 409 Prospect Ave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,577
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,540
$351.5K
Cap Rate 7%
$251,100
$251.1K
Cap Rate 9%
$195,300
$195.3K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$33.9K $14.88/SF
− Vacancy
−$2.0K −$0.86/SF
EGI
$32.0K $14.02/SF
− OpEx
−$14.4K −$6.31/SF
NOI
$17.6K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,540
Cap Rate 7%
$251,100
Cap Rate 9%
$195,300
Alternative Uses
Best Use
Apartment 5plus
$251.1K
$219.7K – $293.0K
NOI $17,577 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$578.7K
$506.4K – $675.2K
NOI $40,509 @ 7.0% cap · market cap 20.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,331
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
Check the figures for this property
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?
Multifamily property - Multifamily asset constructed in 1920.
Where is this multifamily property located?
The property is located at 409 Prospect Ave Scranton, PA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Multifamily property in Scranton, PA; Built in 1920; Located at 409 Prospect Ave
