Three-Unit Multifamily
For Sale
$330,000
906 Crown Avenue, Scranton, PA 18505
Includes a four-bedroom building and two three-bedroom units across separate buildings.
Property Size3,200 SF
Days on Market8
Property Features for 906 Crown Avenue
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR/1BA, 2 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,952
Building Details
Building Size
3,200 SF
Buildings
2
Listing Agency:
Lewith & Freeman, Shavertown
Listed By:
Mark Nicholson
(570) 406-8195
Source:
Luxehomesnepa
Added: Aug 26
Changed: Aug 29
Last Checked: Sep 1 at 11:34PM
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 Lewith & Freeman, Shavertown
Investment Insights
Based on property information with market context.
This multifamily offering includes two buildings with three units sold together as one package. The front building contains four bedrooms and one bathroom. The rear building is configured as an upper-and-lower duplex, with each unit offering three bedrooms and one bathroom.
The property is located at 906 Crown Avenue in Scranton, Pennsylvania. The separate-building layout provides a defined three-unit configuration within a single transaction.
The property is located at 906 Crown Avenue in Scranton, Pennsylvania. The separate-building layout provides a defined three-unit configuration within a single transaction.
Key Highlights
- Three total units across two buildings
- Front building includes 4 bedrooms and 1 bathroom
- Rear building configured as an upper‑and‑lower duplex
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
$26,389
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
8.00%
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%
$527,780
$527.8K
Cap Rate 7%
$376,986
$377.0K
Cap Rate 9%
$293,211
$293.2K
Market Conditions
NOI Build-Up for 3,200 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
$40.3K $12.60/SF
− Vacancy
−$2.6K −$0.82/SF
EGI
$37.7K $11.78/SF
− OpEx
−$11.3K −$3.53/SF
NOI
$26.4K $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%
$527,780
Cap Rate 7%
$376,986
Cap Rate 9%
$293,211
Alternative Uses
Best Use
Multifamily LT 5
$377.0K
$329.9K – $439.8K
NOI $26,389 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$352.4K
$308.4K – $411.2K
NOI $24,670 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$812.2K
$710.7K – $947.6K
NOI $56,855 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Includes a four-bedroom building and two three-bedroom units across separate buildings.
Where is this multifamily property located?
The property is located at 906 Crown Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Three total units across two buildings; Front building includes 4 bedrooms and 1 bathroom; Rear building configured as an upper‑and‑lower duplex
