Triplex with Three-Car
For Sale
$410,000
908 Richmont St, Scranton, PA 18509
The property combines two two-bedroom apartments with a four-bedroom unit, offering a range of residential layouts.
Property Size3,242 SF
Price / SF$126.47
Days on Market15
Property Features for 908 Richmont St
General Information
Standard status
Active
Size
3,242 SF
Property subtype
Multi-Family
Building Details
Year Built
1930
Listing Agency:
EXP Realty LLC
Listed By:
Xiomara Caraballo Mercado · License #RS370253
(570) 851-9475
Source:
Revolvepa
Added: Oct 1
Changed: Oct 10
Last Checked: Oct 5 at 8:15PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This renovated triplex contains 3,242 square feet across three apartments. Two units have two bedrooms and one full bath apiece; the third has four bedrooms and one full bath. A three-car garage is also part of the property, which was built in 1930. Two apartments are occupied, with the remaining unit vacant.
The property is in Scranton’s Green Ridge area, a short distance from a university and with shopping, dining, and transportation options nearby. The sale is as-is, and the seller will not complete repairs. Any repairs required by a buyer’s lender or appraiser are the buyer’s responsibility.
The property is in Scranton’s Green Ridge area, a short distance from a university and with shopping, dining, and transportation options nearby. The sale is as-is, and the seller will not complete repairs. Any repairs required by a buyer’s lender or appraiser are the buyer’s responsibility.
Key Highlights
- Three apartments: two 2‑bedroom, 1‑bath units and one 4‑bedroom, 1‑bath unit
- 3,242 square feet; built in 1930
- Three‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,736
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,720
$534.7K
Cap Rate 7%
$381,943
$381.9K
Cap Rate 9%
$297,067
$297.1K
Market Conditions
NOI Build-Up for 3,242 SF
Gross rent
$40.8K $12.60/SF
− Vacancy
−$2.7K −$0.82/SF
EGI
$38.2K $11.78/SF
− OpEx
−$11.5K −$3.53/SF
NOI
$26.7K $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 Rate 5%
$534,720
Cap Rate 7%
$381,943
Cap Rate 9%
$297,067
Alternative Uses
Best Use
Multifamily LT 5
$381.9K
$334.2K – $445.6K
NOI $26,736 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$357.1K
$312.4K – $416.6K
NOI $24,994 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$822.9K
$720.0K – $960.0K
NOI $57,602 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The property combines two two-bedroom apartments with a four-bedroom unit, offering a range of residential layouts.
Where is this triplex located?
The property is located at 908 Richmont St Scranton, PA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom, 1‑bath units and one 4‑bedroom, 1‑bath unit; 3,242 square feet; built in 1930; Three‑car garage
