627-629 Prescott Avenue Scranton, PA 18510
Two brand-new duplexes with four units and separate deeds, with tenants paying utilities.
Property Features for 627-629 Prescott Avenue
General Information
- Standard status
- Active
- Size
- 3,928 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing office Steel City Realty
Listing date Jul 13, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Steel City Realty
Investment Insights
Based on property information with market context.
The property is located in the Hill Section of Scranton, Pennsylvania, and is designated as an Opportunity Zone. A LERTA tax abatement is reported as approved for major tax savings compared to non-abated new construction. FHA/VA eligibility is also stated.
As presented, this is a four-unit residential income offering structured for flexibility between investment and owner-occupancy, with the benefit of separate deeds.
Key Highlights
- Package sale: two brand‑new duplexes (4 units total) at 627 & 629 Prescott Ave, Hill Section
- Separate deeds for each duplex, giving flexibility for sale or financing
- Year built 2024; $6,725/mo combined ($80,700/yr) gross rent
Local 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 |
