Brand-New Duplex With Central
For Sale
$425,000
525 -527 Harrison Avenue, Scranton, PA 18510
MULTI_FAMILY - Scranton City, PA
Property Size1,964 SF
Price / SF$216.40
Days on Market18
Property Features for 525 -527 Harrison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 2
Parking
4
Parking features
Off Street
Subdivision
Not in Development
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Head toward Mulberry St Turn right onto Mulberry St Turn right onto Harrison Ave
Standard status
Active
Size
1,964 SF
Taxes and HOA fees
Tax Annual Amount
830
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Number of units
2
Building materials
VinylSiding
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer L. DeJesus · License #RM423820
(610) 217-6330
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 14 at 2:06PM
MLS# 781414
Copyright © 2026 Greater Lehigh Valley REALTORS. 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.
525–527 Harrison Avenue is a brand-new duplex currently under construction (2024) with 100% occupancy and individual deeded units. The property is planned as two units, each with its own bedroom and bathroom count, with tenants responsible for all utilities.
The duplex is built with vinyl siding and served by public water and public sewer. Heating is forced air with electric heating, and the building includes central air conditioning. Off-street parking is provided.
Located in Scranton, PA 18510 within a Residential zoning designation, the property also includes a LERTA tax abatement and the site is identified as a federal Opportunity Zone (18510). FHA/VA financing eligibility is noted, supporting broad tenant and owner-occupant use.
The duplex is built with vinyl siding and served by public water and public sewer. Heating is forced air with electric heating, and the building includes central air conditioning. Off-street parking is provided.
Located in Scranton, PA 18510 within a Residential zoning designation, the property also includes a LERTA tax abatement and the site is identified as a federal Opportunity Zone (18510). FHA/VA financing eligibility is noted, supporting broad tenant and owner-occupant use.
Key Highlights
- Two‑unit duplex with individual deeded units and 100% occupancy
- Under construction, built in 2024, vinyl siding exterior
- 1,964 SF duplex with forced air electric heating
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
$16,197
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
3.81%
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%
$323,940
$323.9K
Cap Rate 7%
$231,386
$231.4K
Cap Rate 9%
$179,967
$180.0K
Market Conditions
NOI Build-Up for 1,964 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
$24.7K $12.60/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$23.1K $11.78/SF
− OpEx
−$6.9K −$3.53/SF
NOI
$16.2K $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%
$323,940
Cap Rate 7%
$231,386
Cap Rate 9%
$179,967
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $270.0K
NOI $16,197 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$216.3K
$189.3K – $252.4K
NOI $15,141 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$498.5K
$436.2K – $581.6K
NOI $34,895 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,345
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built duplex with central air and off-street parking, currently 100% occupied with tenants paying all utilities.
Where is this duplex located?
The property is located at 525 -527 Harrison Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex with individual deeded units and 100% occupancy; Under construction, built in 2024, vinyl siding exterior; 1,964 SF duplex with forced air electric heating
