Three-Unit Residential Income
New
For Sale
$299,000
409 411 S Main Avenue, Scranton, PA 18504
MULTI_FAMILY - Scranton, PA
Property Size3,300 SF
Lot Size0.07 Acres
Price / SF$90.61
Days on Market2
Property Features for 409 411 S Main Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 8, Bedroom 1, Basement, Bedroom 6, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 5
Parking features
On Street, Off Street
Patio and Porch features
Porch
Basement
Unfinished, Full
Appliances
Electric Oven, Refrigerator
Elementary school district
Scranton School District
Middle school district
Scranton School District
High school district
Scranton School District
Directions
Take Main Avenue into West Scranton and continue south on S Main Ave. Property is located at 409-411 S Main Ave, on the left, directly across from the bank.
Standard status
Active
APN
15606040005
Size
3,300 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
275
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating), Natural Gas
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
front porch
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Vinyl
Listing Agency:
SIX PM LLC
(570) 352-5162
Listed By:
Jeremy J Watson · License #RM425357
(570) 352-5162
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# PW-262728
Copyright © 2026 Pike/Wayne Association 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 three-unit residential property offers 3,300 square feet of space across a layout that includes eight bedrooms, three bathrooms, and a basement. Built in 1930, the property features vinyl flooring, a front porch, electric ovens, refrigerators, ceiling fans, and heating supplied by natural gas, electric, and baseboard systems. Parking is available both on the street and off site.
The property is located at 409 411 S Main Avenue in Scranton, Pennsylvania, within the 18504 postal area. The surrounding setting provides access to shopping, dining, public transportation, and local establishments. Public water and public sewer serve the property, which is designated Residential under the stated zoning.
The property is located at 409 411 S Main Avenue in Scranton, Pennsylvania, within the 18504 postal area. The surrounding setting provides access to shopping, dining, public transportation, and local establishments. Public water and public sewer serve the property, which is designated Residential under the stated zoning.
Key Highlights
- Three‑unit property with 3,300 square feet
- Eight bedrooms, three bathrooms, and a basement
- 0.07‑acre lot at 409 411 S Main Avenue, Scranton, PA 18504
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
955
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Established rental use with a front porch, on- and off-street parking, and public utilities.
Where is this triplex located?
The property is located at 409 411 S Main Avenue 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: Three‑unit property with 3,300 square feet; Eight bedrooms, three bathrooms, and a basement; 0.07‑acre lot at 409 411 S Main Avenue, Scranton, PA 18504
