7-Unit Apartment
For Sale
$785,000
Pending
622 Jefferson Avenue, Scranton, PA 18510
Multifamily property with separate utilities and dedicated parking behind the building.
Property Size9,000 SF
Days on Market79
Property Features for 622 Jefferson Avenue
General Information
Standard status
Pending
Size
9,000 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,423
Building Details
Building Size
9,000 SF
Year Built
1920
Listing Agency:
EXP Realty LLC
Listed By:
Kelly McDonald · License #RS358325
(504) 762-0536
Source:
Luxehomesnepa
Added: Aug 20
Changed: Nov 5
Last Checked: Nov 4 at 9:52PM
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 EXP Realty LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment building contains 7 units and was constructed in 1920. Separate utilities serve the property, while 16 parking spots are positioned behind the building. The asset is located at 622 Jefferson Avenue in Scranton, near hospitals and schools, providing a defined multifamily setting with on-site parking and established residential improvements.
Key Highlights
- 7‑unit multifamily property
- Constructed in 1920
- Separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,384
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,387,680
$1.4M
Cap Rate 7%
$991,200
$991.2K
Cap Rate 9%
$770,933
$770.9K
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$133.9K $14.88/SF
− Vacancy
−$7.8K −$0.86/SF
EGI
$126.2K $14.02/SF
− OpEx
−$56.8K −$6.31/SF
NOI
$69.4K $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%
$1,387,680
Cap Rate 7%
$991,200
Cap Rate 9%
$770,933
Alternative Uses
Best Use
Apartment 5plus
$991.2K
$867.3K – $1.16M
NOI $69,384 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$2.00M – $2.67M
NOI $159,906 @ 7.0% cap · market cap 20.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,725
Businesses Nearby
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Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Scranton, PA
Properties on Market for Apartment buildings in Scranton
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with separate utilities and dedicated parking behind the building.
Where is this apartment building located?
The property is located at 622 Jefferson Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 7‑unit multifamily property; Constructed in 1920; Separate utilities
