Duplex with Updated Building
New
For Sale
$211,000
817 Rear Court Street, Scranton, PA 18508
Residential Income, Scranton, PA
Property Size2,117 SF
Lot Size0.06 Acres
Price / SF$99.67
Days on Market4
Property Features for 817 Rear Court Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2
Basement
Partially Finished
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From I-81, take the Scranton/North Scranton exit and follow toward North Scranton. Continue toward Court Street. Follow Court Street to the 800 block and arrive at 817 Court Street. Property is the rear residence; follow property signage for rear access.
Standard status
Active
APN
13420030006
Size
2,117 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3038
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Christine Ives Polizzi · License #RS360064
(570) 561-7189
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 20 at 12:06PM
MLS# SC264666
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.
Investment Insights
Based on property information with market context.
This 2,117-square-foot duplex was built in 1920 and includes two occupied units under month-to-month leases. The property also includes a basement and three bathrooms, with a potential third unit noted in the property information. Recent physical improvements include a new roof, a Rinnai heating system installed in 2024, and new water and gas lines added in 2025.
The 0.06-acre property is served by public water and public sewer and is zoned R1. Gas and electric service are separately metered, while utility responsibilities vary by unit: the owner pays all utilities for unit 1, and the landlord pays water and sewer for unit 2. Heating is provided by a wall furnace.
The 0.06-acre property is served by public water and public sewer and is zoned R1. Gas and electric service are separately metered, while utility responsibilities vary by unit: the owner pays all utilities for unit 1, and the landlord pays water and sewer for unit 2. Heating is provided by a wall furnace.
Key Highlights
- 2,117 square feet on a 0.06‑acre lot
- Two occupied units with month‑to‑month leases
- Potential third unit
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
$17,458
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
8.27%
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%
$349,160
$349.2K
Cap Rate 7%
$249,400
$249.4K
Cap Rate 9%
$193,978
$194.0K
Market Conditions
NOI Build-Up for 2,117 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
$26.7K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.9K $11.78/SF
− OpEx
−$7.5K −$3.53/SF
NOI
$17.5K $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%
$349,160
Cap Rate 7%
$249,400
Cap Rate 9%
$193,978
Alternative Uses
Best Use
Multifamily LT 5
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$233.2K
$204.0K – $272.0K
NOI $16,321 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$537.3K
$470.2K – $626.9K
NOI $37,613 @ 7.0% cap · market cap 17.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units are leased month to month, with a possible third-unit configuration.
Where is this duplex located?
The property is located at 817 Rear Court Street Scranton, PA.
What is the asking price?
The asking price for this property is $211,000.
What are key features of this property?
This property features: 2,117 square feet on a 0.06‑acre lot; Two occupied units with month‑to‑month leases; Potential third unit
