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 Market69
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
Listed By:
David J. Mitchell · License #RS378765
(570) 840-8779
Source:
Luxehomesnepa
Added: Aug 10
Changed: Oct 4
Last Checked: Oct 16 at 3:34PM
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
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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 / Yr
$11,875
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
