Multifamily Building with Separate
817 Cedar Ave, Scranton, PA 18505
For Sale
$225,000
The property includes a rear yard, separate utility services except water, and space requiring cosmetic updates.
Property Size2,400 SF
Price / SF$93.75
Days on Market39
Property Features for 817 Cedar Ave
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Additional Details
Individually Metered Utilities
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
Cobblestone Real Estate LLC
(570) 500-5254
Listed By:
Rebecca O'Brien · License #RS349939
(570) 499-1399
Source:
Exprealty
Added: Oct 1
Changed: Nov 8
Last Checked: Nov 7 at 1:49PM
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 Cobblestone Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,400-square-foot multifamily building in South Scranton needs cosmetic work, and some kitchen appliances are not included. Utilities are separately metered or serviced except for water. The property also has a rear yard.
Shops and restaurants are located nearby, and the building sits on a busy street. The downstairs space currently generates $1,100 per month under a month-to-month tenancy; the existing rent may be adjusted. Taxes are below $5,000.
Shops and restaurants are located nearby, and the building sits on a busy street. The downstairs space currently generates $1,100 per month under a month-to-month tenancy; the existing rent may be adjusted. Taxes are below $5,000.
Key Highlights
- 2,400‑square‑foot multifamily building
- Separate utilities, with water as the exception
- Downstairs space currently brings in $1,100 per month on a month‑to‑month lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,502
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,040
$370.0K
Cap Rate 7%
$264,314
$264.3K
Cap Rate 9%
$205,578
$205.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$35.7K $14.88/SF
− Vacancy
−$2.1K −$0.86/SF
EGI
$33.6K $14.02/SF
− OpEx
−$15.1K −$6.31/SF
NOI
$18.5K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,040
Cap Rate 7%
$264,314
Cap Rate 9%
$205,578
Alternative Uses
Best Use
Apartment 5plus
$264.3K
$231.3K – $308.4K
NOI $18,502 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$609.2K
$533.0K – $710.7K
NOI $42,642 @ 7.0% cap · market cap 18.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
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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
$139,800
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Scranton, PA
Properties on Market for Multifamily properties in Scranton
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property includes a rear yard, separate utility services except water, and space requiring cosmetic updates.
Where is this multifamily property located?
The property is located at 817 Cedar Ave 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: 2,400‑square‑foot multifamily building; Separate utilities, with water as the exception; Downstairs space currently brings in $1,100 per month on a month‑to‑month lease
