Brand-New Duplex
627-629 Prescott Avenue Scranton, PA 18510
New
627-629 Prescott Avenue, Scranton, PA, 18510
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For Sale
Contact for pricing
Two brand-new duplexes with four units and separate deeds, with tenants paying utilities.
Property Size3,928 SF
Price / SF$209.39
Days on Market6
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 Agency
Steel City Realty
Listed by
Jennifer DeJesus · License #PA RM423820
Source
Crexi
Added: Jul 13 Checked: Jul 15 at 2:29 am
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 Steel City Realty
Investment Insights
Based on property information with market context.
627 & 629 Prescott Avenue present a package sale of two brand-new duplexes totaling four residential units, each on separate deeds. The combined rent is listed at $6,725 per month ($80,700 per year gross), and tenants are responsible for utilities.
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.
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 |
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two brand-new duplexes with four units and separate deeds, with tenants paying utilities.
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: 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
