Renovated Duplex with Separate
For Sale
$189,995
532-534 N Main Avenue, Scranton, PA 18504
Two-unit residential income property with updated systems and a newly installed kitchen serving the first-floor residence.
Property Size1,440 SF
Days on Market22
Property Features for 532-534 N Main Avenue
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,265
Building Details
Building Size
1,440 SF
Year Built
1930
Listing Agency:
The Hub Real Estate Group Scranton
(570) 840-8779
Listed By:
David J. Mitchell · License #RS378765
Source:
Luxehomesnepa
Added: Aug 10
Changed: Aug 21
Last Checked: Aug 31 at 12:22AM
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 The Hub Real Estate Group Scranton
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two separate residences: a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. The property has undergone substantial recent improvements, including a new kitchen in the first-floor apartment and a replacement roof completed in 2023.
Separate utilities serve the units, while two new LAARS heating and hot water systems provide updated building infrastructure. The property is located in West Scranton and offers a practical two-unit configuration for residential income use.
Separate utilities serve the units, while two new LAARS heating and hot water systems provide updated building infrastructure. The property is located in West Scranton and offers a practical two-unit configuration for residential income use.
Key Highlights
- Two‑unit duplex with a 2‑bed/1‑bath unit and a 1‑bed/1‑bath unit
- Separate utilities for each residence
- First‑floor apartment includes a brand‑new kitchen
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
$11,875
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
6.25%
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%
$237,500
$237.5K
Cap Rate 7%
$169,643
$169.6K
Cap Rate 9%
$131,944
$131.9K
Market Conditions
NOI Build-Up for 1,440 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
$18.1K $12.60/SF
− Vacancy
−$1.2K −$0.82/SF
EGI
$17.0K $11.78/SF
− OpEx
−$5.1K −$3.53/SF
NOI
$11.9K $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%
$237,500
Cap Rate 7%
$169,643
Cap Rate 9%
$131,944
Alternative Uses
Best Use
Multifamily LT 5
$169.6K
$148.4K – $197.9K
NOI $11,875 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$158.6K
$138.8K – $185.0K
NOI $11,101 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$365.5K
$319.8K – $426.4K
NOI $25,585 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
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-unit residential income property with updated systems and a newly installed kitchen serving the first-floor residence.
Where is this duplex located?
The property is located at 532-534 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $189,995.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bed/1‑bath unit and a 1‑bed/1‑bath unit; Separate utilities for each residence; First‑floor apartment includes a brand‑new kitchen
