Duplex with Separate
For Sale
$275,000
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 Market11
Property Features for 538-540 River Street
General Information
Standard status
Active
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
Source:
Luxehomesnepa
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 23 at 8:46AM
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 = 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
$15,669
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
5.70%
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%
$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
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
$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 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%
$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.
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
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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
