3-Unit Residential
New
For Sale
$290,000
916 S Main Avenue, Scranton, PA 18504
Residential Income, Scranton, PA
Property Size2,800 SF
Lot Size0.13 Acres
Price / SF$103.57
Days on Market4
Property Features for 916 S Main Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
N
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 7, Bedroom 9, Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 3, Basement, Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 8
Patio and Porch features
Porch
Fencing
Fenced
Basement
Unfinished
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Follow Main Ave to 916 S Main Ave.
Standard status
Active
APN
15609060059
Size
2,800 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
43X138x43x137 Round Woods Park L 2 B 1 W-22 B-001 L-002 P-027
Tax Annual Amount
4661
Legal Description
43X138x43x137 Round Woods Park L 2 B 1 W-22 B-001 L-002 P-027
Utilities
Heating system
Baseboard
Building Details
Year built
1940
Floors in Building
3
Number of units
3
Building materials
Aluminum Siding
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Sheye-Anne O'Malley
(910) 382-6069
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 26 at 9:06PM
MLS# SC264787
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.
At 916 S Main Avenue in Scranton, this 2,800-square-foot triplex contains three units: a six-bedroom, two-bath residence; a two-bedroom, one-bath apartment; and a one-bedroom efficiency located in the garage. The property sits on a 0.13-acre lot and was built in 1940. Features include aluminum siding, baseboard heat, a porch, and fencing. The listed zoning is N.
Key Highlights
- Three residential units with a 6‑bedroom, 2‑bath unit, a 2‑bedroom, 1‑bath unit, and a 1‑bedroom efficiency
- The efficiency unit is located in the garage
- 2,800 square feet of building area on a 0.13‑acre lot
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
$23,091
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
7.96%
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%
$461,820
$461.8K
Cap Rate 7%
$329,871
$329.9K
Cap Rate 9%
$256,567
$256.6K
Market Conditions
NOI Build-Up for 2,800 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
$35.3K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$33.0K $11.78/SF
− OpEx
−$9.9K −$3.53/SF
NOI
$23.1K $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%
$461,820
Cap Rate 7%
$329,871
Cap Rate 9%
$256,567
Alternative Uses
Best Use
Multifamily LT 5
$329.9K
$288.6K – $384.9K
NOI $23,091 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$308.4K
$269.8K – $359.8K
NOI $21,586 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$710.7K
$621.9K – $829.1K
NOI $49,748 @ 7.0% cap · market cap 17.15%
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
664
Businesses Nearby
Explore this area
Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
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 unit mix includes a six-bedroom residence, a two-bedroom apartment, and an efficiency within the garage.
Where is this triplex located?
The property is located at 916 S Main Avenue 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 residential units with a 6‑bedroom, 2‑bath unit, a 2‑bedroom, 1‑bath unit, and a 1‑bedroom efficiency; The efficiency unit is located in the garage; 2,800 square feet of building area on a 0.13‑acre lot
