Renovated Two-Unit
For Sale
$349,900
913 Monroe Ave, Scranton, PA 18510
Two spacious residences with separate utilities in Scranton, offering convenient access to shopping, dining, major roads, and local amenities.
Property Size2,400 SF
Price / SF$145.79
Days on Market17
Property Features for 913 Monroe Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$36,000
Utilities to Site
Yes
Building Details
Year Renovated
2013
Buildings
1
Listing Agency:
Lehigh Valley Just Listed LLC
Listed By:
Matthew Kessler
(800) 350-8061
Source:
Poconohomessearch
Added: Aug 20
Changed: Sep 3
Last Checked: Sep 4 at 7:21AM
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 two residential units totaling 2,400 square feet. Each residence includes three bedrooms and two full bathrooms, creating a six-bedroom, four-bathroom configuration across the property. Separate utilities serve the units, supporting straightforward operational management.
The building was rebuilt from the foundation in 2013. Its Scranton setting provides access to shopping, dining, major roadways, and area amenities. The property is located at 913 Monroe Ave and is offered as a separate deed from the neighboring sister property.
The building was rebuilt from the foundation in 2013. Its Scranton setting provides access to shopping, dining, major roadways, and area amenities. The property is located at 913 Monroe Ave and is offered as a separate deed from the neighboring sister property.
Key Highlights
- Two‑unit duplex with 2,400 square feet of total property size
- Each unit offers 3 bedrooms and 2 full bathrooms
- Six bedrooms and 4 full bathrooms combined
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two spacious residences with separate utilities in Scranton, offering convenient access to shopping, dining, major roads, and local amenities.
Where is this duplex located?
The property is located at 913 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: Two‑unit duplex with 2,400 square feet of total property size; Each unit offers 3 bedrooms and 2 full bathrooms; Six bedrooms and 4 full bathrooms combined
