Photos Link
*GIS Map and Floor Plans Included
Exterior/UtiltyBefore tenant occupied: https://drive.google.com/drive/folders/1o-2461csWnjYBxdEJUbuyjOCHOG29vpT?usp=sharing
Before tenant occupied: https://photos.app.goo.gl/KX41TJLoRLhS11KZ7
Buy & Hold Overview
Current
- Gross Rents: $59,400
- Annual NOI: $38,520
- Cap Rate: 11.01%
- Cash on Cash Return: 20.08%
- Current Market Value: $350,000
- Lease Type:
- 2 Bed 1 Bath – Rented at $1,300 1 year lease
- 2 Bed 1 Bath – Rented at $1,300 1 year lease
- 2 Bed 1 Bath – Rented at $1,300 1 year lease
- 1 Bed 1 Bath – Rented at $1,050 1 year lease
Highlights
- Recently updated utilities
- Fully occupied at market rents
- Turn Key cashflowing day one
Optional Repair Estimate
*Repairs are optional if you would like to renovate each of the units + exterior. We don’t believe any of these repairs are immediately necessary.
Total Estimated Repair Range: $40,000 – $60,000
Current Rental Analysis
Utilities
- Heat: Tenant / Split
- Electric: Tenant / Split
- Water/Sewer: Landlord
- Trash: Landlord (In tax bill)
Property Details
- Beds: 7
- Baths: 4
- Square Footage: 3,744
- Lot Size: 4,356
- Year Built: 1920
- Zoning: R-2
- Heat: Baseboard Electric
- Electric: New Panels and Wiring, 100 amp each
- Plumbing: New, Pex
- Water: Public
- Sewer: Public
- Roof: Approx 5 years old
- Foundation: Stone
- Windows: Fair, Double Pane
- Water Heaters: New
- Garage: N/A
- Flooring: Mix of carpet, tile, laminate flooring
- Flood Zone: TBD
- Mold Noted: No
- Water Damage: No
- Water in Basement: No
- Taxes: $2,893
Comparable Sales/CMA
*we recommend any potential investor do their own due diligence and use these as a point of reference only
ARV (After Repair Value) Comps: View MLS ARV Comps
114 Prospect Avenue, Scranton PA
4 Units, 8 bed, 4 bath, 3,568 sqft, 5,600 sqft lot, 0.76 miles from subject property
Sold for $426,500 on 08/25/2025, DOM (days on market): 13
Price Per Unit: $106,500
_______________
1719 S Webster Avenue, Scranton PA
4 Units, 11 bed, 5 bath, 4,287 sqft, 6,000 acre lot, 0.73 miles from subject property
Sold for $539,900 on 08/29/2025, DOM (days on market): 10
Price Per Unit: 134,975
ARV (After Repair Value) Estimate
Average PPU: $120,737.50
Subject Property Units: 4
ARV Estimate: $482,950
As-Is Comps:View MLS As-Is Comps
532 Alder Street, Scranton PA
4 Units, 8 bed, 4 bath, 5,100 sqft, 6,480 sqft lot, 0.43 miles from subject property
Sold for $343,000 on 3/12/2025, DOM (days on market): 0
Price Per Unit: $85,750
_______________
Zillow/Realtor.com/Redfin Link
4 Units, 10 bed, 4 bath, 2,900 sqft, 5,600 sqft lot, 0.63 miles from subject property
Sold for $349,900 on 2/25/2025, DOM (days on market): 7
Price Per Unit: $87,475
_______________
Zillow/Realtor.com/Redfin Link
4 Units, 9 bed, 5 bath, 4,138 sqft, 6,000 sqft lot, 0.25 miles from subject property
Sold for $350,000 on 8/8/2025, DOM (days on market): 34
Price Per Unit: $87,500
As-Is Value
Average PPU: $86,908.33
Subject Property Units: 4
As-Is Estimate: $347,633.33
Estimated Market Rents
Rent-o-Meter: Rentometer: Average rent near 1017 Remington Avenue, Scranton, PA [any size]
Town Overview
Scranton
- Economic/Jobs: Scranton’s economy is driven by health care, education, transportation, and manufacturing. Health care and education lead employment, while transportation benefits from the city’s highway access, and manufacturing remains a smaller but steady contributor.
- Education: Education in Scranton is anchored by institutions like the University of Scranton, Marywood University, and Lackawanna College, with the sector employing about 11% of the city’s workforce.
- Lifestyle & Amenities: Scranton offers a small-city lifestyle with affordable housing, historic neighborhoods, and a strong sense of community. Residents enjoy access to local restaurants, cultural venues, and outdoor recreation in the nearby Pocono Mountains. The city blends urban convenience with a relaxed, family-friendly atmosphere.
- Transport Links: Scranton’s public transportation is provided by the County of Lackawanna Transit System (COLTS), which runs nearly 30 bus routes throughout the city and surrounding areas from the Lackawanna Transit Center downtown. More information, routes, and schedules can be found at coltsbus.com.
For more details on Scranton’s attractions and local resources, visit:
Contact Us to Schedule a Walkthrough
The Melito & Koch Team
- Lenny Wyda Direct Line: 570-413-0921
- Lenny Wyda Email: lenny@melitoandkoch.com
- Website: melitoandkoch.com
- Facebook: The Melito & Koch Team
Disclosures
- ORAL CONSUMER NOTICE:
- The Real Estate Law requires that I provide you with a written notice that describes the various business relationship choices that you may have with a real estate licensee. Since we are discussing real estate without you having the benefit of the consumer notice, I have the duty to advise you that any information you give me at this time is not considered to be confidential, and any information you give me will not be considered confidential unless and until you and I enter into a business relationship. At our first meeting I will provide you with a written consumer notice which explains those business relationships and my corresponding duties to you.
- HOLD HARMLESS ACKNOWLEDGEMENT:
- The information contained in this email, including attachments, is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, please notify the sender immediately and delete this email. Real estate investment carries inherent risk, and this email does not constitute legal or financial advice. While I strive to provide accurate and up-to-date information, I make no warranties regarding the correctness of the data or the viability of the investment strategies discussed. By using the information provided, you agree to hold harmless The Morrow Wargo Group, Realty ONE Group Supreme, or any other entity related to our relationship- for any reliance on the content of this correspondence. Investment decisions should be made based on your own due diligence and consultation with financial and legal advisors. As a real estate agent, I provide services to assist in purchasing properties and analyzing data; however, the ultimate responsibility for investment decisions lies with the investor.
- DUE DILIGENCE:
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.
- This deal must be analyzed individually. Investment returns are not guaranteed. All investors should conduct their due diligence. The Melito & Koch Team, Realty ONE Group Supreme, and associated parties are not liable for any inaccuracies or reliance on this information.