Duplex with Hardwood
For Sale
$239,000
643 Deacon Street, Scranton, PA 18509
Residential duplex offering off-street parking, storage space, and convenient access to nearby shops and restaurants.
Property Size2,316 SF
Days on Market27
Property Features for 643 Deacon Street
General Information
Standard status
Active
Size
2,316 SF
Property subtype
Multi Family
Occupancy
50%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,310
Amenities
Hardwood floors
plenty of storage space
Building Details
Building Size
2,316 SF
Year Built
1935
Buildings
1
Listing Agency:
REALTY NETWORK GROUP
(570) 862-3331
Listed By:
Annabelle Rogers
Source:
Luxehomesnepa
Added: Jul 17
Changed: Aug 9
Last Checked: Aug 11 at 1:17PM
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 REALTY NETWORK GROUP
Investment Insights
Based on property information with market context.
Built in 1935, this duplex features hardwood floors, substantial storage space, and off-street parking. One side is currently rented, providing an existing income component within the two-unit property.
The property is situated in Scranton’s North Scranton area, between Greenridge and The Plot, with shops and restaurants nearby. Its two-unit configuration accommodates a range of residential ownership and rental arrangements, subject to applicable requirements.
The property is situated in Scranton’s North Scranton area, between Greenridge and The Plot, with shops and restaurants nearby. Its two-unit configuration accommodates a range of residential ownership and rental arrangements, subject to applicable requirements.
Key Highlights
- Two‑unit duplex built in 1935
- One side currently rented
- Hardwood floors
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
$19,099
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
7.99%
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%
$381,980
$382.0K
Cap Rate 7%
$272,843
$272.8K
Cap Rate 9%
$212,211
$212.2K
Market Conditions
NOI Build-Up for 2,316 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
$29.2K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.3K $11.78/SF
− OpEx
−$8.2K −$3.53/SF
NOI
$19.1K $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%
$381,980
Cap Rate 7%
$272,843
Cap Rate 9%
$212,211
Alternative Uses
Best Use
Multifamily LT 5
$272.8K
$238.7K – $318.3K
NOI $19,099 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$255.1K
$223.2K – $297.6K
NOI $17,855 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$587.8K
$514.4K – $685.8K
NOI $41,149 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
818
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
Median Home Value
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 - Residential duplex offering off-street parking, storage space, and convenient access to nearby shops and restaurants.
Where is this duplex located?
The property is located at 643 Deacon Street Scranton, PA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1935; One side currently rented; Hardwood floors
