Two-House Multifamily
New
For Sale
$299,900
536 Broadway Street, Scranton, PA 18505
Income property featuring two residences on one parcel, including a cottage and an occupied unit.
Property Size1,178 SF
Days on Market4
Property Features for 536 Broadway Street
General Information
Standard status
Active
Size
1,178 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,573
Building Details
Building Size
1,178 SF
Year Built
1938
Buildings
2
Listing Agency:
REALTY NETWORK GROUP
(570) 585-6880
Listed By:
Jamie Marie Hape
Source:
Luxehomesnepa
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 3:33AM
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 REALTY NETWORK GROUP
Investment Insights
Based on property information with market context.
Built in 1938, this multifamily property comprises two separate houses situated on one lot. The front residence is configured with two units, while the rear structure is a single-family cottage, creating a distinct multi-building layout.
Unit 2 is currently tenant occupied, and the tenant has expressed interest in remaining. The property is located in Scranton near highway access and downtown.
Unit 2 is currently tenant occupied, and the tenant has expressed interest in remaining. The property is located in Scranton near highway access and downtown.
Key Highlights
- Two houses positioned on one lot
- Front house contains two units
- Rear building is a single‑family cottage
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
$9,082
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
3.03%
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%
$181,640
$181.6K
Cap Rate 7%
$129,743
$129.7K
Cap Rate 9%
$100,911
$100.9K
Market Conditions
NOI Build-Up for 1,178 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
$17.5K $14.88/SF
− Vacancy
−$1.0K −$0.86/SF
EGI
$16.5K $14.02/SF
− OpEx
−$7.4K −$6.31/SF
NOI
$9.1K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$181,640
Cap Rate 7%
$129,743
Cap Rate 9%
$100,911
Alternative Uses
Best Use
Apartment 5plus
$129.7K
$113.5K – $151.4K
NOI $9,082 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.0K
$261.6K – $348.8K
NOI $20,930 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,528
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
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 - Income property featuring two residences on one parcel, including a cottage and an occupied unit.
Where is this multifamily property located?
The property is located at 536 Broadway Street Scranton, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two houses positioned on one lot; Front house contains two units; Rear building is a single‑family cottage
