Two-Unit Duplex with Third-Floor
For Sale
$215,000
506-508 Harrison Avenue, Scranton, PA 18510
Occupied duplex with two three-bedroom units and additional third-floor rooms.
Property Size1,206 SF
Price / SF$178.28
Days on Market2169
Property Features for 506-508 Harrison Avenue
General Information
Standard status
Active
Size
1,206 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Multi-Family
Net Operating Income
$12,358
Property Condition
Severity
Repairs Needed
Evidence
TLC
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,156
Amenities
Window Unit AC, Yes
3
Yes
1
.00
3.00
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Keller Williams Real Estate
Listed By:
Chris Morton · License #RM424930
(610) 390-0586
Source:
Compass
Added: Nov 8, 2020
Changed: Oct 15
Last Checked: Oct 16 at 11:08AM
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 Keller Williams Real Estate
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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 1,206-square-foot duplex contains two occupied residential units at 506-508 Harrison Avenue in Scranton. Unit 508 includes three bedrooms, one full bath, and one half bath, while Unit 506 offers three bedrooms and one full bath. Each unit also has three additional rooms on the third floor, creating flexible interior space for future use or customization.
Built in 1920, the property is Section 8 approved and currently generates rental income through its occupied units. The existing layouts provide a clear two-unit configuration with additional rooms beyond the primary living areas.
Built in 1920, the property is Section 8 approved and currently generates rental income through its occupied units. The existing layouts provide a clear two-unit configuration with additional rooms beyond the primary living areas.
Key Highlights
- Two‑unit duplex with 1,206 square feet of property size
- Both units are currently occupied
- Unit 508 has 3 bedrooms, 1 full bath, and 1 half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,946
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$198,920
$198.9K
Cap Rate 7%
$142,086
$142.1K
Cap Rate 9%
$110,511
$110.5K
Market Conditions
NOI Build-Up for 1,206 SF
Gross rent
$15.2K $12.60/SF
− Vacancy
−$988 −$0.82/SF
EGI
$14.2K $11.78/SF
− OpEx
−$4.3K −$3.53/SF
NOI
$9.9K $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%
$198,920
Cap Rate 7%
$142,086
Cap Rate 9%
$110,511
Alternative Uses
Best Use
Multifamily LT 5
$142.1K
$124.3K – $165.8K
NOI $9,946 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$132.8K
$116.2K – $155.0K
NOI $9,297 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$306.1K
$267.8K – $357.1K
NOI $21,427 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with two three-bedroom units and additional third-floor rooms.
Where is this duplex located?
The property is located at 506-508 Harrison Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,206 square feet of property size; Both units are currently occupied; Unit 508 has 3 bedrooms, 1 full bath, and 1 half bath
