4-Unit Quadplex with
For Sale
$400,000
523 Willow Street, Scranton, PA 18505
Fully occupied rental property includes two renovated units and a detached garage.
Property Size3,850 SF
Days on Market51
Property Features for 523 Willow Street
General Information
Standard status
Active
Size
3,850 SF
Total Parking Spaces
3
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,124
Building Details
Building Size
3,850 SF
Listing Agency:
RPA Real Estate - Kingston
Listed By:
George Placencio
(570) 442-3301
Source:
Luxehomesnepa
Added: Aug 18
Changed: Oct 6
Last Checked: Oct 7 at 6:28PM
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 RPA Real Estate - Kingston
Investment Insights
Based on property information with market context.
Located at 523 Willow Street in Scranton, Pennsylvania, this four-unit residential income property is fully occupied and produces rental income. Two of the units have been newly renovated, adding updated accommodations within the existing configuration.
A detached three-car garage is included with the property. The combination of four residential units, current occupancy, recent renovations, and supplemental garage space defines the asset’s current offering.
A detached three-car garage is included with the property. The combination of four residential units, current occupancy, recent renovations, and supplemental garage space defines the asset’s current offering.
Key Highlights
- Four‑unit property at 523 Willow Street, Scranton, PA 18505
- Fully occupied with rental income in place
- Two units were newly renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,750
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,000
$635.0K
Cap Rate 7%
$453,571
$453.6K
Cap Rate 9%
$352,778
$352.8K
Market Conditions
NOI Build-Up for 3,850 SF
Gross rent
$48.5K $12.60/SF
− Vacancy
−$3.2K −$0.82/SF
EGI
$45.4K $11.78/SF
− OpEx
−$13.6K −$3.53/SF
NOI
$31.7K $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%
$635,000
Cap Rate 7%
$453,571
Cap Rate 9%
$352,778
Alternative Uses
Best Use
Multifamily LT 5
$453.6K
$396.9K – $529.2K
NOI $31,750 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$424.0K
$371.0K – $494.7K
NOI $29,681 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$977.2K
$855.1K – $1.14M
NOI $68,404 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
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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?
Quadplex - Fully occupied rental property includes two renovated units and a detached garage.
Where is this quadplex located?
The property is located at 523 Willow Street Scranton, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit property at 523 Willow Street, Scranton, PA 18505; Fully occupied with rental income in place; Two units were newly renovated
