Rebuilt Two-Unit
For Sale
$349,900
909 Monroe Ave, Scranton, PA 18510
Two spacious units offer separate utilities and three-bedroom, two-bath layouts.
Property Size2,400 SF
Price / SF$145.79
Days on Market11
Property Features for 909 Monroe Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$40,200
Taxes and HOA fees
Annual Taxes
$99,670
Building Details
Year Renovated
2013
Listing Agency:
Lehigh Valley Just Listed LLC
(484) 259-7062
Listed By:
Matthew Kessler
(484) 294-5326
Source:
Exprealty
Added: Aug 25
Changed: Aug 31
Last Checked: Sep 4 at 9:42AM
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 Lehigh Valley Just Listed LLC
Investment Insights
Based on property information with market context.
This duplex contains 2 residential units, each arranged with 3 bedrooms and 2 full bathrooms. The property provides 2,400 square feet of total space, with separate utilities serving the units. Both units were rebuilt from the foundation in 2013, supporting a substantially updated physical configuration without relying on a major renovation plan.
Located at 909 Monroe Ave in Scranton, Pennsylvania, the property is positioned near shopping, dining, major roadways, and area amenities. The two-unit layout and individual utility separation create a straightforward configuration for residential income use. A separate, next-door property is also identified in the source information as being under a different deed and separate transaction.
Located at 909 Monroe Ave in Scranton, Pennsylvania, the property is positioned near shopping, dining, major roadways, and area amenities. The two-unit layout and individual utility separation create a straightforward configuration for residential income use. A separate, next-door property is also identified in the source information as being under a different deed and separate transaction.
Key Highlights
- 2‑unit duplex with 2,400 square feet
- Each unit includes 3 bedrooms and 2 full bathrooms
- 6 total bedrooms and 4 full bathrooms
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
$19,792
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
5.66%
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%
$395,840
$395.8K
Cap Rate 7%
$282,743
$282.7K
Cap Rate 9%
$219,911
$219.9K
Market Conditions
NOI Build-Up for 2,400 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
$30.2K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$28.3K $11.78/SF
− OpEx
−$8.5K −$3.53/SF
NOI
$19.8K $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%
$395,840
Cap Rate 7%
$282,743
Cap Rate 9%
$219,911
Alternative Uses
Best Use
Multifamily LT 5
$282.7K
$247.4K – $329.9K
NOI $19,792 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$264.3K
$231.3K – $308.4K
NOI $18,502 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$609.2K
$533.0K – $710.7K
NOI $42,642 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,853
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious units offer separate utilities and three-bedroom, two-bath layouts.
Where is this duplex located?
The property is located at 909 Monroe Ave Scranton, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2‑unit duplex with 2,400 square feet; Each unit includes 3 bedrooms and 2 full bathrooms; 6 total bedrooms and 4 full bathrooms
