Two-Unit Duplex with New
For Sale
$165,000
428 Railroad Avenue, Scranton, PA 18505
Updated rental property with separate electric meters and one currently occupied unit.
Property Size1,600 SF
Days on Market167
Property Features for 428 Railroad Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,545
Building Details
Building Size
1,600 SF
Year Built
1954
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties
Listed By:
William Pregmon
(570) 319-5046
Source:
Luxehomesnepa
Added: Apr 30
Changed: Sep 28
Last Checked: Oct 12 at 11:56PM
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
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with three bedrooms and one bathroom. Recent improvements include new flooring, a water heater, and a roof replacement. Separate electric meters serve the units, allowing each residence to maintain its own electric account. One unit is occupied, while the other is vacant and available for future occupancy. Built in 1954, the property is located in Scranton, Pennsylvania, with access to downtown amenities, universities, major employers, and I-81.
Key Highlights
- Two‑unit duplex with two 3‑bedroom, 1‑bathroom residences
- One unit occupied and one unit vacant
- New flooring, water heater, and roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,195
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,900
$263.9K
Cap Rate 7%
$188,500
$188.5K
Cap Rate 9%
$146,611
$146.6K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$20.2K $12.60/SF
− Vacancy
−$1.3K −$0.82/SF
EGI
$18.8K $11.78/SF
− OpEx
−$5.7K −$3.53/SF
NOI
$13.2K $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 Rate 5%
$263,900
Cap Rate 7%
$188,500
Cap Rate 9%
$146,611
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,195 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.6K
NOI $12,335 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$406.1K
$355.4K – $473.8K
NOI $28,428 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,819
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
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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 - Updated rental property with separate electric meters and one currently occupied unit.
Where is this duplex located?
The property is located at 428 Railroad Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑unit duplex with two 3‑bedroom, 1‑bathroom residences; One unit occupied and one unit vacant; New flooring, water heater, and roof
