Remodeled Duplex with Private
For Sale
$225,000
Pending
706 Lavelle Ct, Scranton, PA 18505
Two updated residential units offer modern kitchens, private outdoor areas, and off-street parking.
Property Size1,820 SF
Days on Market206
Property Features for 706 Lavelle Ct
General Information
Standard status
Pending
Size
1,820 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
washer and dryer hookups
front deck
side decks
shared side yard
Building Details
Year Built
1935
Buildings
1
Listing Agency:
Keller Williams Real Estate, Kingston
Listed By:
Michael Nastasiak · License #RS362481
(570) 406-0572
Source:
Nepahousehunt
Added: Feb 14
Changed: Sep 6
Last Checked: Sep 7 at 9:47AM
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 Keller Williams Real Estate, Kingston
Investment Insights
Based on property information with market context.
This duplex contains 1,820 square feet with two residential units, each arranged with 2 bedrooms and 1 full bathroom. Renovations include new kitchens with granite countertops and stainless steel appliances, remodeled bathrooms, luxury vinyl plank flooring, recessed lighting, and fresh interior paint. Washer and dryer hookups are provided in both units.
Outdoor features include a front deck, separate side decks, a shared side yard, and off-street parking for two vehicles. Built in 1935, the property is located at 706 Lavelle Ct in Scranton, Pennsylvania, near shopping, major highways, and everyday services.
Outdoor features include a front deck, separate side decks, a shared side yard, and off-street parking for two vehicles. Built in 1935, the property is located at 706 Lavelle Ct in Scranton, Pennsylvania, near shopping, major highways, and everyday services.
Key Highlights
- Two‑unit duplex with 1,820 SF of living area
- Each unit includes 2 bedrooms and 1 full bathroom
- Updated kitchens with granite countertops and stainless steel appliances
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
$15,009
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
6.67%
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%
$300,180
$300.2K
Cap Rate 7%
$214,414
$214.4K
Cap Rate 9%
$166,767
$166.8K
Market Conditions
NOI Build-Up for 1,820 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
$22.9K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$21.4K $11.78/SF
− OpEx
−$6.4K −$3.53/SF
NOI
$15.0K $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%
$300,180
Cap Rate 7%
$214,414
Cap Rate 9%
$166,767
Alternative Uses
Best Use
Multifamily LT 5
$214.4K
$187.6K – $250.2K
NOI $15,009 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$200.4K
$175.4K – $233.9K
NOI $14,031 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$461.9K
$404.2K – $538.9K
NOI $32,336 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 updated residential units offer modern kitchens, private outdoor areas, and off-street parking.
Where is this duplex located?
The property is located at 706 Lavelle Ct Scranton, PA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,820 SF of living area; Each unit includes 2 bedrooms and 1 full bathroom; Updated kitchens with granite countertops and stainless steel appliances
