3-Unit Multifamily
71 River Street, Forty Fort, PA 18704
For Sale
New
$365,000
Residential Income, Forty Fort, PA
Property Size3,500 SF
Lot Size0.28 Acres
Price / SF$104.29
Days on Market4
Property Features for 71 River Street
General Information
Property type
Property subtype
Zoning
Zoning description
Bedrooms
Bathrooms
Full bathrooms
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Parking features
Window features
Fireplace
Basement
Elementary school district
Middle school district
High school district
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Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
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Tax Description
Tax Annual Amount
Legal Description
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Cooling system
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Building Details
Year built
Floors in Building
Number of units
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Building materials
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Architectural style
Buildings
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Bobby Jo Engle
(570) 407-7591
Added: Nov 9
Changed: Nov 11
Last Checked: Nov 12 at 6:06PM
MLS# SC265707
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 multifamily property includes two buildings on a single 0.28-acre parcel, with 3,500 square feet across three units. The front building is a half-double with two 2-bedroom, 1-bath apartments. A separate rear building contains a 3-bedroom, 1-bath home. The second-floor apartment has been remodeled; the rear home and that apartment are vacant. Utilities are separate for the buildings, and off-street parking is available.
Built in 1910, the property has aluminum siding, shingle roofing, baseboard heat, and window-unit cooling. Public water and sewer serve the site, which is zoned Multi-R1.
Built in 1910, the property has aluminum siding, shingle roofing, baseboard heat, and window-unit cooling. Public water and sewer serve the site, which is zoned Multi-R1.
Key Highlights
- Three units across two buildings on one 0.28‑acre parcel
- 3,500 square feet of building area
- Front building has two 2‑bedroom, 1‑bath apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,197
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,940
$523.9K
Cap Rate 7%
$374,243
$374.2K
Cap Rate 9%
$291,078
$291.1K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$51.7K $14.76/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$47.6K $13.61/SF
− OpEx
−$21.4K −$6.12/SF
NOI
$26.2K $7.48/SF
Area
Luzerne County, PA
Vacancy
7.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,940
Cap Rate 7%
$374,243
Cap Rate 9%
$291,078
Alternative Uses
Best Use
Apartment 5plus
$374.2K
$327.5K – $436.6K
NOI $26,197 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$970.2K – $1.29M
NOI $77,616 @ 7.0% cap · market cap 21.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
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Business Placement
Demographics for 18704, PA
31,138
Population
14,531
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
10.1 sq mi
ZIP Area
3,083
Density / Sq Mi
$62,907
Median Household Income
$39,349
Median Earnings
$935
Median Rent
$154,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Luzerne County, PA
Properties on Market for Multifamily properties in Luzerne County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings share one parcel, with separate utilities and off-street parking.
Where is this multifamily property located?
The property is located at 71 River Street Forty Fort, PA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three units across two buildings on one 0.28‑acre parcel; 3,500 square feet of building area; Front building has two 2‑bedroom, 1‑bath apartments
