Brand-New Duplexes Under
New
For Sale
$822,500
627 -629 Prescott Avenue, Scranton, PA 18510
MULTI_FAMILY - Scranton City, PA
Property Size3,928 SF
Price / SF$209.39
Days on Market4
Property Features for 627 -629 Prescott Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 2, Bedroom 8, Bedroom 7, Bedroom 2, Bedroom 5, Bathroom 1
Parking
6
Parking features
Off Street
Subdivision
Not in Development
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Pittston - Take Parsonage St, Foote Ave, York Ave and I-81 N to Vine St in Scranton. Drive to Prescott Ave
Standard status
Active
APN
15706020046, 15706020047
Size
3,928 SF
Taxes and HOA fees
Tax Annual Amount
548
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Number of units
4
Building materials
VinylSiding
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer L. DeJesus · License #RM423820
(610) 217-6330
Added: Jul 28
Changed: Jul 30
Last Checked: Jul 31 at 1:06AM
MLS# 781397
Copyright © 2026 Greater Lehigh Valley REALTORS. 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.
A package sale of two brand-new duplexes at 627 & 629 Prescott Ave in the Hill Section. The offering includes four units with separate deeds, positioned for buyers seeking an owner-occupied setup or an investment portfolio approach. Construction is listed as under construction, with a 2024 build year and vinyl siding.
The homes are equipped with forced-air heating, electric heating, and central air conditioning. Off-street parking is provided, and utilities are described as public water and public sewer. Tenants are responsible for utilities.
The property is identified as being in an Opportunity Zone. LERTA tax abatement is listed as approved for major tax savings versus non-abated new construction. The listing also notes FHA/VA eligibility.
The homes are equipped with forced-air heating, electric heating, and central air conditioning. Off-street parking is provided, and utilities are described as public water and public sewer. Tenants are responsible for utilities.
The property is identified as being in an Opportunity Zone. LERTA tax abatement is listed as approved for major tax savings versus non-abated new construction. The listing also notes FHA/VA eligibility.
Key Highlights
- Package sale: 2 brand‑new duplexes (4 units) with separate deeds
- Under construction with 2024 build year and vinyl siding
- 4 units total; combined 3,928 SF under Roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.5k | $12.60 |
| − Vacancy | −$3.2k | −$0.82 |
| EGI | $46.3k | $11.78 |
| − OpEx | −$13.9k | −$3.53 |
| NOI | $32.4k | $8.25 |
3,928 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$462.8K
$404.9K – $539.9K
NOI $32,393 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$432.6K
$378.5K – $504.7K
NOI $30,282 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$997.0K
$872.4K – $1.16M
NOI $69,790 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,627
Businesses Nearby
Explore this area
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
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 brand-new duplexes with four units and separate deeds, under construction with central air and off-street parking.
Where is this duplex located?
The property is located at 627 -629 Prescott Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $822,500.
What are key features of this property?
This property features: Package sale: 2 brand‑new duplexes (4 units) with separate deeds; Under construction with 2024 build year and vinyl siding; 4 units total; combined 3,928 SF under Roof
