3-Unit
For Sale
$280,000
916 S Main Ave, Scranton, PA 18504
The unit mix includes two apartments and an efficiency arranged within the garage.
Property Size2,800 SF
Price / SF$100
Days on Market37
Property Features for 916 S Main Ave
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,660
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Sheye-Anne O'Malley
(910) 382-6069
Source:
Exprealty
Added: Sep 24
Changed: Oct 25
Last Checked: Oct 28 at 9:40AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1940, this triplex contains three residential units. The largest apartment has 6 bedrooms and 2 full bathrooms, while another offers 2 bedrooms and 1 full bathroom. A one-bedroom efficiency occupies the garage.
Key Highlights
- Three residential units in a triplex
- Largest apartment has 6 bedrooms and 2 full bathrooms
- Second apartment has 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,091
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
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
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 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 8.25%
Second Best
Apartment 5plus
$308.4K
$269.8K – $359.8K
NOI $21,586 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$710.7K
$621.9K – $829.1K
NOI $49,748 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The unit mix includes two apartments and an efficiency arranged within the garage.
Where is this triplex located?
The property is located at 916 S Main Ave Scranton, PA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Three residential units in a triplex; Largest apartment has 6 bedrooms and 2 full bathrooms; Second apartment has 2 bedrooms and 1 full bathroom
