Newly Built Occupied
For Sale
$425,000
708-710 Harrison Ave, Scranton, PA 18510
Two separately deeded units are fully occupied, with tenants responsible for all utilities.
Property Size1,964 SF
Price / SF$216.40
Days on Market116
Property Features for 708-710 Harrison Ave
General Information
Standard status
Active
Size
1,964 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$41,700
Multifamily Units
2
Building Details
Year Built
2023
Listing Agency:
Steel City Realty
Listed By:
Jennifer de Jesus · License #RM423820
(484) 895-9005
Source:
Nepahousehunt
Added: Jun 23
Changed: Oct 1
Last Checked: Oct 16 at 9:39AM
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 Steel City Realty
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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.
Located at 708-710 Harrison Avenue in Scranton’s Hill Section, this duplex was built in 2023 and contains two separately deeded units. Both residences are currently occupied, providing an established operating profile at closing.
Residents are responsible for all utilities, which keeps utility obligations separate from ownership. The property is identified as FHA/VA eligible, and each unit carries its own deed. The address places the building within Scranton’s Hill Section, offering a clearly defined residential setting for continued rental use.
Residents are responsible for all utilities, which keeps utility obligations separate from ownership. The property is identified as FHA/VA eligible, and each unit carries its own deed. The address places the building within Scranton’s Hill Section, offering a clearly defined residential setting for continued rental use.
Key Highlights
- 2023 construction
- Two‑unit duplex with 100% occupancy
- Each unit has an individual deed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,197
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,940
$323.9K
Cap Rate 7%
$231,386
$231.4K
Cap Rate 9%
$179,967
$180.0K
Market Conditions
NOI Build-Up for 1,964 SF
Gross rent
$24.7K $12.60/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$23.1K $11.78/SF
− OpEx
−$6.9K −$3.53/SF
NOI
$16.2K $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%
$323,940
Cap Rate 7%
$231,386
Cap Rate 9%
$179,967
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $270.0K
NOI $16,197 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$216.3K
$189.3K – $252.4K
NOI $15,141 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$498.5K
$436.2K – $581.6K
NOI $34,895 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,281
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?
Duplex - Two separately deeded units are fully occupied, with tenants responsible for all utilities.
Where is this duplex located?
The property is located at 708-710 Harrison Ave Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2023 construction; Two‑unit duplex with 100% occupancy; Each unit has an individual deed
