Duplex Property with Expansion
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 Market11
Property Features for 817 Rear Court Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2, Bedroom 2, Bedroom 1
Patio and Porch features
Porch
Basement
Partially Finished
Elementary school district
Scranton School District
Middle school district
Scranton School District
High school district
Scranton School District
Directions
From I-81, take the Scranton/North Scranton exit and follow toward North Scranton. Continue toward Court Street. Follow Court Street then turn onto McGuire Ct. Sign in Yard.
Standard status
Active
APN
13420030006
Size
2,117 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3038
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
EXP Realty
(888) 397-7352
Listed By:
Christine Ives Polizzi · License #RS360064
(570) 561-7189
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 27 at 3:06AM
MLS# PW-263323
Copyright © 2026 Pike/Wayne Association 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 property, built in 1920, includes two occupied units and a possible third-unit configuration. The property has a new roof, a Rinnai heating system installed in 2024, and new water and gas lines added in 2025. Interior areas include a basement, two bedrooms, and two bathrooms, with porch space also provided.
The property sits on a 0.06-acre lot in Scranton, PA, with public water and public sewer service. Gas and electric utilities are separately metered, while the owner pays all utilities for unit 1 and water and sewer for unit 2. Both units are occupied under month-to-month leases.
The property sits on a 0.06-acre lot in Scranton, PA, with public water and public sewer service. Gas and electric utilities are separately metered, while the owner pays all utilities for unit 1 and water and sewer for unit 2. Both units are occupied under month-to-month leases.
Key Highlights
- 2,117 square feet on a 0.06‑acre lot
- Two occupied units with potential for a third unit
- New Rinnai heating system installed in 2024
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
Multi-tenant
Tenancy
Yes
Utilities to site
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residential units with separate gas and electric service and public water and sewer connections.
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 potential for a third unit; New Rinnai heating system installed in 2024
