Three-Unit Multifamily
For Sale
$424,995
946 Clay Avenue, Scranton, PA 18510
Separate utility metering and one-and-a-half bathrooms support practical apartment operations.
Property Size3,400 SF
Days on Market29
Property Features for 946 Clay Avenue
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,856
Building Details
Building Size
3,400 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
The Hub Real Estate Group Scranton
(570) 489-2563
Listed By:
Pat Rogan · License #RS329526
Source:
Luxehomesnepa
Added: Jul 7
Changed: Aug 3
Last Checked: Aug 4 at 8:03AM
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 The Hub Real Estate Group Scranton
Investment Insights
Based on property information with market context.
Built in 1950, this multifamily property contains three apartments, each configured with one-and-a-half bathrooms. Separate metering for every unit helps distinguish utility usage by apartment. The property also presents potential for a fourth unit, offering an additional configuration consideration for a purchaser.
The property is located on Clay Avenue in Scranton, within minutes of downtown, hospitals, and universities. Its three-unit layout, individual utility metering, and consistent bathroom configuration provide a clear operating profile for multifamily ownership. The address is 946 Clay Avenue, Scranton, PA 18510.
The property is located on Clay Avenue in Scranton, within minutes of downtown, hospitals, and universities. Its three-unit layout, individual utility metering, and consistent bathroom configuration provide a clear operating profile for multifamily ownership. The address is 946 Clay Avenue, Scranton, PA 18510.
Key Highlights
- Three‑unit multifamily property built in 1950
- Each apartment includes 1.5 bathrooms
- All three apartments are separately metered
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.8k | $12.60 |
| − Vacancy | −$2.8k | −$0.82 |
| EGI | $40.1k | $11.78 |
| − OpEx | −$12.0k | −$3.53 |
| NOI | $28.0k | $8.25 |
3,400 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$374.5K
$327.7K – $436.9K
NOI $26,212 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$863.0K
$755.1K – $1.01M
NOI $60,409 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,786
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?
Triplex - Separate utility metering and one-and-a-half bathrooms support practical apartment operations.
Where is this triplex located?
The property is located at 946 Clay Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $424,995.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1950; Each apartment includes 1.5 bathrooms; All three apartments are separately metered
