Duplex with River
For Sale
$239,000
Pending
614 Boulevard Avenue, Scranton, PA 18519
Residential Income, Scranton, PA
Property Size1,866 SF
Lot Size0.38 Acres
Days on Market56
Property Features for 614 Boulevard Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Basement
Parking features
On Street
Patio and Porch features
Porch
Interior features
Eat-in Kitchen
Basement
Unfinished, Walk-Out Access, Interior Entry, Concrete
Lot features
Back Yard, Level, Garden
Elementary school district
Mid Valley
Middle school district
Mid Valley
High school district
Mid Valley
Directions
North on Main St. to Dickson corners, right onto Boulevard Ave. The property is on the left.
Standard status
Pending
APN
12408040051
Size
1,866 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X212x41x208 W-01 B-0110 L-0020 P-00000
Tax Annual Amount
1875
Legal Description
40X212x41x208 W-01 B-0110 L-0020 P-00000
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Water front features
River Access
Water front
1
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Wood, Vinyl, Carpet
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties · Berkshire Hathaway HomeServices
(570) 585-1500
Listed By:
Robert J Vanston · License #RM046573A
(570) 840-0152
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 23 at 5:06PM
MLS# SC263248
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.
Investment Insights
Based on property information with market context.
This duplex features two distinct living units in a double-block configuration. The right unit offers 6 rooms with 3 bedrooms and 1 bathroom, while the left unit offers 5 rooms with 2 bedrooms and 1 bathroom. Heat and electric utilities are separate for each unit, and there are 2 gas furnaces. Interior features include an eat-in kitchen, with flooring options reported as wood, carpet, and vinyl. The home includes a basement and a porch, with on-street parking.
Set on a 0.38-acre lot, the property extends back over 200 feet and fronts a section of the Lackawanna River with river access. The listing also notes water source as public and sewer as public sewer. The property is located in Scranton, Lackawanna County, Pennsylvania, and the seller notes a public park within walking distance. Zoning is R2 and the year built is 1930.
The arrangement of two independently served units, along with the lot size and river-access frontage, may appeal to buyers seeking an income-oriented property with two separate utility setups.
Set on a 0.38-acre lot, the property extends back over 200 feet and fronts a section of the Lackawanna River with river access. The listing also notes water source as public and sewer as public sewer. The property is located in Scranton, Lackawanna County, Pennsylvania, and the seller notes a public park within walking distance. Zoning is R2 and the year built is 1930.
The arrangement of two independently served units, along with the lot size and river-access frontage, may appeal to buyers seeking an income-oriented property with two separate utility setups.
Key Highlights
- Two distinct duplex units: right unit 3 bed 1 bath, left unit 2 bed 1 bath
- Separate heat and electric utilities for each unit plus 2 gas furnaces
- River access with frontage on the Lackawanna River
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
444
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two separate units, each with its own heat and electric, on a river-access lot in Scranton.
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: Two distinct duplex units: right unit 3 bed 1 bath, left unit 2 bed 1 bath; Separate heat and electric utilities for each unit plus 2 gas furnaces; River access with frontage on the Lackawanna River
