4-Unit Apartment
New
For Sale
$595,000
645-647 Madison Avenue, Scranton, PA 18510
Residential Income, Scranton, PA
Property Size4,096 SF
Lot Size0.08 Acres
Price / SF$145.26
Days on Market3
Property Features for 645-647 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
8
Bathrooms
8
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 2, Bedroom 7, Bathroom 7, Bedroom 1, Bathroom 5, Basement, Bathroom 8, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 6, Bedroom 8, Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 3
Parking
6
Parking features
On Street
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Eat-in Kitchen, Open Floorplan, Storage, Kitchen Island, High Ceilings, Granite Counters
Exterior features
Balcony, Rain Gutters
Basement
Walk-Out Access, Unfinished
Lot features
Corner Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From N Washington Avenue, turn left onto Pine Street, then right onto Madison Avenue. Continue to 645 647 Madison Avenue. Property will be on the right.
Standard status
Active
APN
14677020013
Size
4,096 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6767
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Water source
Public
Amenities
private in-unit laundry
balcony
Building Details
Year built
1950
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Building materials
Stucco
Roof type
Rubber
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Iron Valley Real Estate Greater Scranton
(570) 300-4766
Listed By:
Mark Scrimalli
(570) 880-8286
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 6:06AM
MLS# SC265417
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.
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Investment Insights
Based on property information with market context.
This 4-unit apartment building contains 4,096 square feet across four residences. Each unit has 2 bedrooms, 1.5 bathrooms, private in-unit laundry, and a balcony. Interior features include open floor plans, eat-in kitchens, kitchen islands, granite counters, high ceilings, and storage. Forced-air heating and cooling serve the building. The 1950 construction has stucco exterior finishes and a rubber roof.
The property occupies 0.075 acres and is zoned R1. Public water and sewer are available, and parking is on street. Nearby destinations noted include local hospitals, the University of Scranton, shopping, and dining.
The property occupies 0.075 acres and is zoned R1. Public water and sewer are available, and parking is on street. Nearby destinations noted include local hospitals, the University of Scranton, shopping, and dining.
Key Highlights
- Four apartments, each with 2 bedrooms and 1.5 bathrooms
- 4,096 square feet on a 0.075‑acre lot
- 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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,725
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has private laundry and a balcony, with an open floor plan and eat-in kitchen.
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; 4,096 square feet on a 0.075‑acre lot; Private in‑unit laundry and a balcony in each apartment
