Three-Unit Multifamily
For Sale
$409,995
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 Market123
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
Listed By:
Pat Rogan · License #RS329526
(570) 906-4344
Source:
Luxehomesnepa
Added: Jul 7
Changed: Nov 2
Last Checked: Nov 4 at 6:35PM
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
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 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
Estimated NOI and Cap Rate
NOI / Yr
$28,039
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,780
$560.8K
Cap Rate 7%
$400,557
$400.6K
Cap Rate 9%
$311,544
$311.5K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$42.8K $12.60/SF
− Vacancy
−$2.8K −$0.82/SF
EGI
$40.1K $11.78/SF
− OpEx
−$12.0K −$3.53/SF
NOI
$28.0K $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%
$560,780
Cap Rate 7%
$400,557
Cap Rate 9%
$311,544
Alternative Uses
Best Use
Multifamily LT 5
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$374.5K
$327.7K – $436.9K
NOI $26,212 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$863.0K
$755.1K – $1.01M
NOI $60,409 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,508
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
$178,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Scranton, PA
Properties on Market for Triplexes in Scranton
Vacancy Rate% for Multifamily in Northeast region
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 $409,995.
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
