Brand-New Duplex with Separate
For Sale
$425,000
525-527 Harrison Avenue, Scranton, PA 18510
Two newly built, 100% occupied units are sold with individual deeds and tenant-paid utilities.
Property Size1,964 SF
Days on Market37
Property Features for 525-527 Harrison Avenue
General Information
Standard status
Active
Size
1,964 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$830
Building Details
Building Size
1,964 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer de Jesus · License #RM423820
Source:
Luxehomesnepa
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 14 at 12:14PM
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 Steel City Realty
Investment Insights
Based on property information with market context.
525 & 527 Harrison Ave offer a brand-new duplex configuration with two units, currently 100% occupied. The property is presented with individual deed ownership for each unit. Tenants are responsible for all utilities, supporting straightforward operating expense management.
The duplex is located in the Hill Section of Scranton, with both addresses under one offering. The financial structure includes LERTA tax abatement and a federal Opportunity Zone designation (18510).
With both units producing rental income day one, this property includes FHA/VA eligibility. It is structured for either investor use or owner-occupancy, depending on the buyer’s plan.
The duplex is located in the Hill Section of Scranton, with both addresses under one offering. The financial structure includes LERTA tax abatement and a federal Opportunity Zone designation (18510).
With both units producing rental income day one, this property includes FHA/VA eligibility. It is structured for either investor use or owner-occupancy, depending on the buyer’s plan.
Key Highlights
- Brand‑new duplex at 525 & 527 Harrison Ave in the Hill Section of Scranton (Year built: 2024).
- Two units are 100% occupied with individual deeds.
- Current rents: $1,650/mo and $1,625/mo for $39,300/yr gross.
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
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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 - Two newly built, 100% occupied units are sold with individual deeds and tenant-paid 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: Brand‑new duplex at 525 & 527 Harrison Ave in the Hill Section of Scranton (Year built: 2024).; Two units are 100% occupied with individual deeds.; Current rents: $1,650/mo and $1,625/mo for $39,300/yr gross.
