Side-by-Side Duplex with Separate
For Sale
$270,000
68-70 Green Place, Scranton, PA 18509
Two three-bedroom units include private rear porches and off-street parking.
Property Size2,500 SF
Days on Market9
Property Features for 68-70 Green Place
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
6
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,870
Amenities
private rear porch
Building Details
Building Size
2,500 SF
Year Built
1935
Buildings
1
Listing Agency:
Christian Saunders Real Estate
(570) 914-8799
Listed By:
Felipe Rosero Salazar · License #RS364807
Source:
Luxehomesnepa
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 31 at 12:51AM
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 Christian Saunders Real Estate
Investment Insights
Based on property information with market context.
Built in 1935, this side-by-side duplex contains two separate residential units, each with 3 bedrooms and 1 bath. Separate utilities support independent operation, while freshly painted interiors and a newer roof provide notable recent updates. Each primary bedroom opens to a private rear porch, adding dedicated outdoor space to both units. Off-street parking accommodates up to 6 vehicles.
The property is within walking distance of downtown and minutes from colleges, schools, dining, and transit. Its unit layout, parking, separate utilities, and location provide a practical configuration for multifamily ownership or occupancy, subject to applicable requirements.
The property is within walking distance of downtown and minutes from colleges, schools, dining, and transit. Its unit layout, parking, separate utilities, and location provide a practical configuration for multifamily ownership or occupancy, subject to applicable requirements.
Key Highlights
- Side‑by‑side duplex with two 3‑bedroom, 1‑bath units
- Separate utilities for each unit
- Private rear porch connected to each primary bedroom
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
$20,617
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
7.64%
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%
$412,340
$412.3K
Cap Rate 7%
$294,529
$294.5K
Cap Rate 9%
$229,078
$229.1K
Market Conditions
NOI Build-Up for 2,500 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
$31.5K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$29.5K $11.78/SF
− OpEx
−$8.8K −$3.53/SF
NOI
$20.6K $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%
$412,340
Cap Rate 7%
$294,529
Cap Rate 9%
$229,078
Alternative Uses
Best Use
Multifamily LT 5
$294.5K
$257.7K – $343.6K
NOI $20,617 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$275.3K
$240.9K – $321.2K
NOI $19,273 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$634.5K
$555.2K – $740.3K
NOI $44,418 @ 7.0% cap · market cap 16.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,088
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 - Two three-bedroom units include private rear porches and off-street parking.
Where is this duplex located?
The property is located at 68-70 Green Place Scranton, PA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two 3‑bedroom, 1‑bath units; Separate utilities for each unit; Private rear porch connected to each primary bedroom
