Three-Unit Property with Front
For Sale
$299,000
409 S Main Ave, Scranton, PA 18504
Established rental property with a welcoming porch and convenient access to shopping, dining, transit, and neighborhood services.
Property Size3,300 SF
Price / SF$90.61
Days on Market20
Property Features for 409 S Main Ave
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$274
Listing Agency:
SIX PM LLC
(570) 352-5162
Listed By:
Jeremy J Watson · License #RM425357
(570) 352-5162
Source:
Exprealty
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 29 at 2:41PM
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 SIX PM LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property contains 3,300 square feet and includes a front porch at the entrance. The building has an established rental use and is positioned on S Main Avenue in West Scranton.
The property is within convenient reach of shopping, dining, public transportation, and other local establishments. Its Scranton address is 409 S Main Ave, Scranton, PA 18504.
The property is within convenient reach of shopping, dining, public transportation, and other local establishments. Its Scranton address is 409 S Main Ave, Scranton, PA 18504.
Key Highlights
- Triplex with 3,300 square feet of building area
- Front porch provides a defined entrance feature
- Established rental use
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
$27,214
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
9.10%
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%
$544,280
$544.3K
Cap Rate 7%
$388,771
$388.8K
Cap Rate 9%
$302,378
$302.4K
Market Conditions
NOI Build-Up for 3,300 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
$41.6K $12.60/SF
− Vacancy
−$2.7K −$0.82/SF
EGI
$38.9K $11.78/SF
− OpEx
−$11.7K −$3.53/SF
NOI
$27.2K $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%
$544,280
Cap Rate 7%
$388,771
Cap Rate 9%
$302,378
Alternative Uses
Best Use
Multifamily LT 5
$388.8K
$340.2K – $453.6K
NOI $27,214 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$363.4K
$318.0K – $424.0K
NOI $25,441 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$837.6K
$732.9K – $977.2K
NOI $58,632 @ 7.0% cap · market cap 19.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,712
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Established rental property with a welcoming porch and convenient access to shopping, dining, transit, and neighborhood services.
Where is this triplex located?
The property is located at 409 S Main Ave Scranton, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Triplex with 3,300 square feet of building area; Front porch provides a defined entrance feature; Established rental use
