Three-Unit Multifamily
For Sale
$250,000
530-532 Harrison Avenue, Scranton, PA 18510
Bedroom configurations range from one to three bedrooms across the residential units.
Property Size2,400 SF
Days on Market11
Property Features for 530-532 Harrison Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$4,677
Building Details
Building Size
2,400 SF
Year Built
1940
Buildings
6
Listing Agency:
Marcks Evans Real Estate
Listed By:
Wayne E Evans · License #RM421529
(570) 906-8600
Source:
Luxehomesnepa
Added: Sep 14
Changed: Sep 23
Last Checked: Sep 23 at 2:43AM
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 Marcks Evans Real Estate
Investment Insights
Based on property information with market context.
This multifamily property at 530-532 Harrison Avenue includes three residential units with varied layouts. Unit 1 contains three bedrooms and one bathroom, Unit 2 offers two bedrooms and one bathroom, and Unit 3 has one bedroom and one bathroom. The building was constructed in 1940.
The property is included in a larger package comprising six buildings and 18 total units. The package also includes properties on Wayne Avenue, South Webster Avenue, Crown Avenue, North Lincoln Avenue, Cedar Avenue, and River Street, with a combination of multifamily, single-family, commercial, and residential apartment spaces.
The property is included in a larger package comprising six buildings and 18 total units. The package also includes properties on Wayne Avenue, South Webster Avenue, Crown Avenue, North Lincoln Avenue, Cedar Avenue, and River Street, with a combination of multifamily, single-family, commercial, and residential apartment spaces.
Key Highlights
- Three residential units at 530‑532 Harrison Avenue
- Unit mix includes 3 Bed/1 Bath, 2 Bed/1 Bath, and 1 Bed/1 Bath
- Built in 1940
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
$19,792
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
7.92%
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%
$395,840
$395.8K
Cap Rate 7%
$282,743
$282.7K
Cap Rate 9%
$219,911
$219.9K
Market Conditions
NOI Build-Up for 2,400 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
$30.2K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$28.3K $11.78/SF
− OpEx
−$8.5K −$3.53/SF
NOI
$19.8K $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%
$395,840
Cap Rate 7%
$282,743
Cap Rate 9%
$219,911
Alternative Uses
Best Use
Multifamily LT 5
$282.7K
$247.4K – $329.9K
NOI $19,792 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$264.3K
$231.3K – $308.4K
NOI $18,502 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$609.2K
$533.0K – $710.7K
NOI $42,642 @ 7.0% cap · market cap 17.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Bedroom configurations range from one to three bedrooms across the residential units.
Where is this multifamily property located?
The property is located at 530-532 Harrison Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three residential units at 530‑532 Harrison Avenue; Unit mix includes 3 Bed/1 Bath, 2 Bed/1 Bath, and 1 Bed/1 Bath; Built in 1940
