Duplex with Separate
For Sale
$275,000
Pending
538-540 River Street, Scranton, PA 18505
Two residential units with separate utility metering, updated electrical service, and newer heating and water-heating systems.
Property Size1,900 SF
Days on Market63
Property Features for 538-540 River Street
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,941
Building Details
Building Size
1,900 SF
Year Built
1920
Listing Agency:
Revolve Real Estate
Listed By:
Kate Daye Ruane · License #RM425525
(302) 242-8781
Source:
Luxehomesnepa
Added: Aug 14
Changed: Oct 6
Last Checked: Oct 13 at 1:02AM
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 Revolve Real Estate
Investment Insights
Based on property information with market context.
Built in 1920, this duplex includes two residential units with separate utility metering. Both apartments have newer heating systems and hot water heaters, while updated electrical work supports the property’s current configuration. Long-term tenants are already in place, providing established occupancy for the next owner.
The property is identified as a duplex in Scranton, Pennsylvania, and is offered as a for-sale residential income asset. Source information also reports a 10-percent-plus cap rate based on the existing tenancy and operating performance.
The property is identified as a duplex in Scranton, Pennsylvania, and is offered as a for-sale residential income asset. Source information also reports a 10-percent-plus cap rate based on the existing tenancy and operating performance.
Key Highlights
- Two‑unit duplex configuration
- Separate utility metering for both units
- Newer heating systems and hot water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,669
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,380
$313.4K
Cap Rate 7%
$223,843
$223.8K
Cap Rate 9%
$174,100
$174.1K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$23.9K $12.60/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$22.4K $11.78/SF
− OpEx
−$6.7K −$3.53/SF
NOI
$15.7K $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%
$313,380
Cap Rate 7%
$223,843
Cap Rate 9%
$174,100
Alternative Uses
Best Use
Multifamily LT 5
$223.8K
$195.9K – $261.2K
NOI $15,669 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$209.3K
$183.1K – $244.1K
NOI $14,648 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$482.3K
$422.0K – $562.6K
NOI $33,758 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,340
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units with separate utility metering, updated electrical service, and newer heating and water-heating systems.
Where is this duplex located?
The property is located at 538-540 River Street Scranton, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Separate utility metering for both units; Newer heating systems and hot water heaters
