3-Unit Triplex with
New
For Sale
$290,000
904 Ash Street, Scranton, PA 18510
Residential Income, Scranton, PA
Property Size2,925 SF
Lot Size0.07 Acres
Price / SF$99.15
Days on Market3
Property Features for 904 Ash Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1A
Zoning description
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 2, Basement, Bedroom 2, Bedroom 1, Bedroom 3
Patio and Porch features
Porch
Exterior features
Balcony, Private Yard
Basement
Interior Entry
Appliances
Dryer, Washer, Refrigerator, Gas Range, Electric Range
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Take Exit 185 from I-81Merge onto the Central Scranton Expressway heading toward downtown.Take the first exit on the right toward Ridge Row.Turn right onto Ridge Row, then make an immediate left onto Madison Avenue.Follow Madison Avenue for about 1 mile Turn right onto Ash Street.Proceed 3 blocks--the property at 904 Ash Street will be on your right.
Standard status
Active
APN
14670020018
Size
2,925 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
30X100 S D Melvin Sub L E W-09 B-004 L-013B P-004
Tax Annual Amount
3368
Legal Description
30X100 S D Melvin Sub L E W-09 B-004 L-013B P-004
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Roof type
Asphalt
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Courtney Ashely Rakipi
(570) 267-7700
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 2 at 1:06PM
MLS# SC264882
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 2,925-square-foot triplex contains three apartments on a 0.07-acre lot. The first-floor unit has two bedrooms and one bathroom; the second-floor unit has the same layout and is vacant. The third-floor apartment has one bedroom and one bathroom. Two units are tenant occupied. A balcony, porch, private yard, and basement are among the property’s features. Appliances include a washer, dryer, refrigerator, gas range, and electric range.
Built in 1930, the property is zoned R-1A. Heat and electricity are separately paid by tenants; the landlord covers water and garbage.
Built in 1930, the property is zoned R-1A. Heat and electricity are separately paid by tenants; the landlord covers water and garbage.
Key Highlights
- Three units with layouts of 2 bedrooms/1 bathroom, 2 bedrooms/1 bathroom, and 1 bedroom/1 bathroom
- 2,925 square feet on a 0.07‑acre lot
- Two apartments are tenant occupied; one is vacant
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
$24,122
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
8.32%
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%
$482,440
$482.4K
Cap Rate 7%
$344,600
$344.6K
Cap Rate 9%
$268,022
$268.0K
Market Conditions
NOI Build-Up for 2,925 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
$36.9K $12.60/SF
− Vacancy
−$2.4K −$0.82/SF
EGI
$34.5K $11.78/SF
− OpEx
−$10.3K −$3.53/SF
NOI
$24.1K $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%
$482,440
Cap Rate 7%
$344,600
Cap Rate 9%
$268,022
Alternative Uses
Best Use
Multifamily LT 5
$344.6K
$301.5K – $402.0K
NOI $24,122 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$322.1K
$281.9K – $375.8K
NOI $22,550 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$742.4K
$649.6K – $866.2K
NOI $51,969 @ 7.0% cap · market cap 17.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,508
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
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?
Triplex - Three apartments include one vacant unit and two occupied units, with tenant-paid heat and electricity.
Where is this triplex located?
The property is located at 904 Ash Street Scranton, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Three units with layouts of 2 bedrooms/1 bathroom, 2 bedrooms/1 bathroom, and 1 bedroom/1 bathroom; 2,925 square feet on a 0.07‑acre lot; Two apartments are tenant occupied; one is vacant
