4-Unit Quadplex with
For Sale
$595,000
645-647 Madison Avenue, Scranton, PA 18510
Each apartment includes private laundry and forced-air heating and cooling.
Property Size4,096 SF
Days on Market10
Property Features for 645-647 Madison Avenue
General Information
Standard status
Active
Size
4,096 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,766
Amenities
in-unit laundry
balcony
forced air heating and cooling
Building Details
Building Size
4,096 SF
Year Built
1950
Listing Agency:
Iron Valley Real Estate Greater Scranton
Listed By:
Mark Scrimalli · License #RS353478
(570) 880-8286
Source:
Luxehomesnepa
Added: Oct 26
Changed: Oct 31
Last Checked: Nov 3 at 3:01PM
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 Iron Valley Real Estate Greater Scranton
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1950, this four-apartment property provides a consistent two-bedroom layout across all units. Each apartment has one full bathroom, one half bathroom, private laundry, and a balcony. The building totals 8 bedrooms, 4 full bathrooms, and 4 half bathrooms, with forced-air heating and cooling throughout.
The property is near local hospitals, the University of Scranton, shopping, and dining. These nearby destinations provide a range of services and amenities in the surrounding area.
The property is near local hospitals, the University of Scranton, shopping, and dining. These nearby destinations provide a range of services and amenities in the surrounding area.
Key Highlights
- Four apartments, each with 2 bedrooms and 1.5 bathrooms
- 8 bedrooms, 4 full bathrooms, and 4 half bathrooms overall
- Private in‑unit laundry and a balcony in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,778
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,560
$675.6K
Cap Rate 7%
$482,543
$482.5K
Cap Rate 9%
$375,311
$375.3K
Market Conditions
NOI Build-Up for 4,096 SF
Gross rent
$51.6K $12.60/SF
− Vacancy
−$3.4K −$0.82/SF
EGI
$48.3K $11.78/SF
− OpEx
−$14.5K −$3.53/SF
NOI
$33.8K $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 Rate 5%
$675,560
Cap Rate 7%
$482,543
Cap Rate 9%
$375,311
Alternative Uses
Best Use
Multifamily LT 5
$482.5K
$422.2K – $563.0K
NOI $33,778 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$451.1K
$394.7K – $526.3K
NOI $31,577 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.04M
$909.7K – $1.21M
NOI $72,775 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,725
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
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment includes private laundry and forced-air heating and cooling.
Where is this quadplex located?
The property is located at 645-647 Madison Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1.5 bathrooms; 8 bedrooms, 4 full bathrooms, and 4 half bathrooms overall; Private in‑unit laundry and a balcony in each apartment
