Updated Two-Unit
For Sale
$259,000
638 Willow Street, Scranton, PA 18505
Residential Income, Scranton, PA
Property Size2,176 SF
Lot Size0.15 Acres
Price / SF$119.03
Days on Market99
Property Features for 638 Willow Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3
Basement
Concrete
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Pittston Ave from central city, left onto Willow St, past Prospect Ave, house is on the right
Standard status
Active
APN
15620020062
Size
2,176 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X162 Li&C Town Plot L 20 B 93 W-19 B-014 L-025 P-029
Legal Description
40X162 Li&C Town Plot L 20 B 93 W-19 B-014 L-025 P-029
Amenities
in-unit washer/dryer
off-street parking
backyard
Building Details
Year built
1935
Floors in Building
2
Number of units
2
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
The Adriana Jez Team · License #327646
(570) 799-9235
Added: Jun 12
Changed: Sep 12
Last Checked: Sep 18 at 7:06AM
MLS# SC262780
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 1935 duplex contains 2,176 square feet arranged as two residential units. Each unit has two bedrooms, one full bathroom, a living room, and an eat-in kitchen. Replacement windows and a newer water heater are among the property updates, while separate washer and dryer sets serve both units.
The property occupies 0.15 acres at 638 Willow Street in South Scranton. A large backyard and off-street parking add practical outdoor space. The R-zoned property is positioned near downtown Scranton, shopping, restaurants, schools, and major highways.
The property occupies 0.15 acres at 638 Willow Street in South Scranton. A large backyard and off-street parking add practical outdoor space. The R-zoned property is positioned near downtown Scranton, shopping, restaurants, schools, and major highways.
Key Highlights
- Two‑unit duplex with 2,176 square feet
- Each unit offers 2 bedrooms, 1 full bathroom, living room, and eat‑in kitchen
- Replacement windows and a newer water heater
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
$17,945
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
6.93%
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%
$358,900
$358.9K
Cap Rate 7%
$256,357
$256.4K
Cap Rate 9%
$199,389
$199.4K
Market Conditions
NOI Build-Up for 2,176 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
$27.4K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$25.6K $11.78/SF
− OpEx
−$7.7K −$3.53/SF
NOI
$17.9K $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%
$358,900
Cap Rate 7%
$256,357
Cap Rate 9%
$199,389
Alternative Uses
Best Use
Multifamily LT 5
$256.4K
$224.3K – $299.1K
NOI $17,945 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$239.6K
$209.7K – $279.6K
NOI $16,775 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$552.3K
$483.3K – $644.4K
NOI $38,662 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two residential units with private laundry, a backyard, and off-street parking in South Scranton.
Where is this duplex located?
The property is located at 638 Willow Street Scranton, PA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,176 square feet; Each unit offers 2 bedrooms, 1 full bathroom, living room, and eat‑in kitchen; Replacement windows and a newer water heater
