3-Unit Residential
New
For Sale
$249,900
602 604 Meridian Avenue, Scranton, PA 18504
Residential Income, Scranton, PA
Property Size2,952 SF
Lot Size0.15 Acres
Price / SF$84.65
Days on Market3
Property Features for 602 604 Meridian Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Basement, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 6
Fencing
Barbed Wire
Basement
Walk-Out Access, Full, Unfinished
Appliances
Electric Range, Refrigerator, Gas Water Heater
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
South on Main St Left on Luzerne to light, Right on Meridian house on the right side.
Standard status
Active
APN
15610050037
Size
2,952 SF
Lot size
0.15 Acres
Additional Details
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Year
2026
Tax Description
71X114x31x73 W-15 B-0040 L-0022 P-02300
Tax Annual Amount
4173
Legal Description
71X114x31x73 W-15 B-0040 L-0022 P-02300
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Radiant, Radiant Floor, Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1940
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Linoleum
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Silvana M. Benavides
(570) 840-8707
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 9:06AM
MLS# SC265430
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,952-square-foot residential property contains two apartments, each with three bedrooms, two bathrooms, a living room, and a kitchen. Finished attic areas form part of both three-bedroom layouts. A third space has one bedroom, one bathroom, a living room, and a dining area; it is currently used as an in-law apartment. The lot measures 0.15 acres, and the building dates to 1940.
All three units have separately metered utilities. The two main apartments use different heating systems, one gas and one electric. Property updates include a new furnace, updated water heaters, and some plumbing and electrical improvements. Additional recorded features include public water and public sewer.
All three units have separately metered utilities. The two main apartments use different heating systems, one gas and one electric. Property updates include a new furnace, updated water heaters, and some plumbing and electrical improvements. Additional recorded features include public water and public sewer.
Key Highlights
- Two 3‑bedroom, 2‑bathroom apartments, each with a living room and kitchen
- Additional space with 1 bedroom, 1 bathroom, a living room, and dining area
- Finished attic space is incorporated into each of the two main apartment layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,758
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,160
$455.2K
Cap Rate 7%
$325,114
$325.1K
Cap Rate 9%
$252,867
$252.9K
Market Conditions
NOI Build-Up for 2,952 SF
Gross rent
$43.9K $14.88/SF
− Vacancy
−$2.5K −$0.86/SF
EGI
$41.4K $14.02/SF
− OpEx
−$18.6K −$6.31/SF
NOI
$22.8K $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 Rate 5%
$455,160
Cap Rate 7%
$325,114
Cap Rate 9%
$252,867
Alternative Uses
Best Use
Multifamily LT 5
$347.8K
$304.3K – $405.7K
NOI $24,344 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$325.1K
$284.5K – $379.3K
NOI $22,758 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$749.3K
$655.6K – $874.2K
NOI $52,449 @ 7.0% cap · market cap 20.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,553
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate utility meters serve a property with two larger apartments and an additional one-bedroom living space.
Where is this triplex located?
The property is located at 602 604 Meridian Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom apartments, each with a living room and kitchen; Additional space with 1 bedroom, 1 bathroom, a living room, and dining area; Finished attic space is incorporated into each of the two main apartment layouts
