Riverfront
For Sale
$239,000
614 Boulevard Avenue, Scranton, PA 18519
Two residential units with separate heat and electric utilities.
Property Size1,866 SF
Days on Market76
Property Features for 614 Boulevard Avenue
General Information
Standard status
Active
Size
1,866 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,875
Building Details
Building Size
1,866 SF
Year Built
1930
Buildings
1
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties
Listed By:
Robert J Vanston · License #RM046573A
(570) 840-0152
Source:
Luxehomesnepa
Added: Jun 29
Changed: Sep 9
Last Checked: Sep 12 at 8:47AM
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 Berkshire Hathaway Home Services Preferred Properties
Investment Insights
Based on property information with market context.
This duplex, constructed in 1930, contains two distinct residential units. The right unit offers 6 rooms with 3 bedrooms and 1 bathroom, while the left unit includes 5 rooms with 2 bedrooms and 1 bathroom. Each side has separate heat and electric utilities, with 2 gas furnaces serving the property.
The lot extends over 200 feet and reaches the Lackawanna River. Water, sewer, and gas are combined on one bill, while electric service generates 2 bills. A public park is within walking distance, and neighboring properties are described as well-maintained.
The lot extends over 200 feet and reaches the Lackawanna River. Water, sewer, and gas are combined on one bill, while electric service generates 2 bills. A public park is within walking distance, and neighboring properties are described as well-maintained.
Key Highlights
- Duplex with 2 distinct residential units
- Right unit has 6 rooms, 3 bedrooms, and 1 bathroom
- Left unit has 5 rooms, 2 bedrooms, and 1 bathroom
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
$15,388
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
6.44%
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%
$307,760
$307.8K
Cap Rate 7%
$219,829
$219.8K
Cap Rate 9%
$170,978
$171.0K
Market Conditions
NOI Build-Up for 1,866 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
$23.5K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$22.0K $11.78/SF
− OpEx
−$6.6K −$3.53/SF
NOI
$15.4K $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%
$307,760
Cap Rate 7%
$219,829
Cap Rate 9%
$170,978
Alternative Uses
Best Use
Multifamily LT 5
$219.8K
$192.4K – $256.5K
NOI $15,388 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$205.5K
$179.8K – $239.8K
NOI $14,386 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$473.6K
$414.4K – $552.6K
NOI $33,154 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 18519, PA
5,000
Population
2,672
Households
1.9
Avg Household Size
45
Median Age
26%
College-Educated
86%
High-School Grad
2.4 sq mi
ZIP Area
2,083
Density / Sq Mi
$58,061
Median Household Income
$44,533
Median Earnings
$924
Median Rent
$165,300
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 heat and electric utilities.
Where is this duplex located?
The property is located at 614 Boulevard Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Duplex with 2 distinct residential units; Right unit has 6 rooms, 3 bedrooms, and 1 bathroom; Left unit has 5 rooms, 2 bedrooms, and 1 bathroom
