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119 Prospect Ave - Brand New Duplex in Scranton 2 Unit Apartment Building Offered at $425,000 at a 9.60% Cap Rate Scranton, PA 18505
Executive Summary
119 Prospect Ave, Southside Scranton. Brand-new construction duplex, 100% occupied, individual deed. 2 units at $1,700/mo each ($40,800/yr gross); tenants pay all utilities. LERTA tax abatement + federal Opportunity Zone (18510): rare dual tax advantage for investors & owner-occupants, capital gains deferral. Day-one rental income, no vacancy risk. FHA/VA eligible. Priced below replacement cost.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $425,000 | Lot Size | 0.13 AC |
| Price Per Unit | $212,500 | Building Size | 3,080 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 9.60% | No. Stories | 1 |
| No. Units | 2 | Year Built | 2023 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $425,000 |
| Price Per Unit | $212,500 |
| Sale Type | Investment |
| Cap Rate | 9.60% |
| No. Units | 2 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.13 AC |
| Building Size | 3,080 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2023 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Kitchen
- Oven
- Range
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,700 | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 15660030010 | Improvements Assessment | $261,350 (2026) |
| Land Assessment | $31,720 (2026) | Total Assessment | $293,070 (2026) |
Property Taxes
Parcel Number
15660030010
Land Assessment
$31,720 (2026)
Improvements Assessment
$261,350 (2026)
Total Assessment
$293,070 (2026)
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119 Prospect Ave - Brand New Duplex in Scranton
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