Three-Unit Multifamily
530-532 Harrison Avenue, Scranton, PA 18510
For Sale
$250,000
Bedroom configurations range from one to three bedrooms across the residential units.
Property Size2,400 SF
Days on Market57
Property Features for 530-532 Harrison Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Marcks Evans Real Estate
Listed By:
Wayne E Evans · License PA RM421529
(570) 479-0433
Source:
Luxehomesnepa
Added: Sep 14
Changed: Nov 7
Last Checked: Nov 8 at 1:35PM
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
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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 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 / Yr
$19,792
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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
$178,000
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Scranton, PA
Properties on Market for Multifamily properties in Scranton
Vacancy Rate% for Multifamily in Northeast region
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
