Three-Unit Multifamily
For Sale
$289,900
433 Willow Street, Scranton, PA 18505
Residential Income, Scranton, PA
Property Size2,200 SF
Lot Size0.15 Acres
Price / SF$131.77
Days on Market141
Property Features for 433 Willow Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Family
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5
Parking features
On Street
Patio and Porch features
Patio, Porch
Interior features
Eat-in Kitchen
Basement
Unfinished, Full
Appliances
Dishwasher, Refrigerator, Electric Oven
Lot features
Level
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Scranton, follow Pittston Avenue to right on Willow.
Standard status
Active
APN
15615030032
Size
2,200 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X162 Li&C Town Plot L 17 B 3 W-11 B-006 L-010 P-021
Tax Annual Amount
5152
Legal Description
40X162 Li&C Town Plot L 17 B 3 W-11 B-006 L-010 P-021
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Flooring type
Wood, Tile
Building materials
Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Leah Gianacopoulos · License #RS325414
(570) 947-9250
Added: May 15
Changed: Sep 12
Last Checked: Oct 2 at 12:06PM
MLS# SC262222
Copyright © 2026 Greater Scranton Board 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 2,200-square-foot triplex, built in 1940, contains three residential units within a stucco building on a 0.15-acre lot. The property includes wood and tile flooring, an eat-in kitchen, a porch, patio, basement, public water, public sewer, and on-street parking. Appliances include a dishwasher, refrigerator, and electric oven, while heating is provided through natural gas and electric systems.
Two units are leased and one is vacant, creating an existing rental arrangement alongside an available unit. Utilities have been separated by unit, and the property includes two newer water heaters. The site is located near shopping, restaurants, schools, and downtown Scranton at 433 Willow Street, Scranton, PA 18505.
Two units are leased and one is vacant, creating an existing rental arrangement alongside an available unit. Utilities have been separated by unit, and the property includes two newer water heaters. The site is located near shopping, restaurants, schools, and downtown Scranton at 433 Willow Street, Scranton, PA 18505.
Key Highlights
- Three‑unit property with 2,200 square feet of building area
- 0.15‑acre lot in Scranton, PA 18505
- Two units currently rented; one unit vacant
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
$18,143
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
6.26%
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%
$362,860
$362.9K
Cap Rate 7%
$259,186
$259.2K
Cap Rate 9%
$201,589
$201.6K
Market Conditions
NOI Build-Up for 2,200 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
$27.7K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$25.9K $11.78/SF
− OpEx
−$7.8K −$3.53/SF
NOI
$18.1K $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%
$362,860
Cap Rate 7%
$259,186
Cap Rate 9%
$201,589
Alternative Uses
Best Use
Multifamily LT 5
$259.2K
$226.8K – $302.4K
NOI $18,143 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$242.3K
$212.0K – $282.7K
NOI $16,961 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$558.4K
$488.6K – $651.5K
NOI $39,088 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,362
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
View Realmo Analytics
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 - Well-maintained income property with separately metered units, updated utilities, and a mix of occupied and vacant space.
Where is this triplex located?
The property is located at 433 Willow Street Scranton, PA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Three‑unit property with 2,200 square feet of building area; 0.15‑acre lot in Scranton, PA 18505; Two units currently rented; one unit vacant
