$279,900
$50K PRICE DROP

Estimated payment $2,255/month

Total Views 22,362
-- Bed
1.5 Baths
4,044 Sq Ft
$69 Price per Sq Ft

About This Home

Prime Downtown Scranton Investment Opportunity!Seize this rare opportunity to invest in the heart of Scranton's rapidly growing real estate market! This 4,000+ Sq Ft mixed-use building, ideally located just off Lackawanna Avenue, is surrounded by thriving businesses, popular restaurants, and ongoing revitalization efforts. With Scranton's increasing demand for commercial and residential spaces, this property presents high-income potential and endless possibilities. Adding to the area's appeal, Scranton is set to benefit from the highly anticipated high-speed rail service connecting the city to New York City. With federal approval granted in early 2025, this project will reestablish passenger rail service, offering three daily round trips. Trains will reach speeds of up to 110 mph, connecting Scranton to key hubs like Morristown, Newark, and New York Penn Station. This long-awaited transportation upgrade is expected to continue increasing property values, attract new businesses, and further enhance Scranton's appeal as a prime investment location. This property offers incredible flexibility, making it ideal for retail, office, apartments, or short-term rentals. Downtown Scranton continues to experience high occupancy rates, with rental demand surging and property values on the rise. Its prime location places it within a short distance of major attractions, including The University of Scranton, medical centers, and key transportation hubs. Additionally, downtown Scranton's ongoing revitalization efforts and economic development initiatives (such as Federal Opportunity Zone), make this a particularly strategic investment. With the future arrival of high-speed rail, demand for housing, office space, and retail is expected to skyrocket, ensuring strong returns for forward-thinking investors.

Last Listed By

Kyle Savage

Christian Saunders Real Estate License #RS340241 Listed on: 02/08/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 3,049 Sq Ft Lot
  • Lot Dimensions are 40x76

Interior Spaces

  • 4,044 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement

Accessible Home Design

  • Enhanced Accessible Features

Community Details

  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number 15626020008
  • Tax Block 110
  • $21,054 per year additional tax assessments

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Directions: Lackawanna Ave to Franklin Ave
  • Lot Size Acres: 0.07
  • Prop. Type: Residential Income
  • Building Stories: 2
  • Year Built: 1920
  • Reso Property Sub Type: Multi Family
  • Above Grade Finished Sq Ft: 4044
  • New Construction: No
  • AuctionYN: No
  • SchoolTaxAmount: 3112.80
  • EnhancedAcccessible: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Has Basement: Unfinished
  • Number Of Buildings: 1
  • Basement YN: Yes

Exterior Features

  • Waterfront: No

Utilities

  • Water Source: Public

Schools

  • Junior High Dist: Scranton

Lot Info

  • Zoning: CT
  • Lot Dimensions: 40X76
  • Parcel #: 15626020008

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 7674.95
  • Tax Block: 110
  • Tax Book Number: 202214907
  • Tax Other Annual Assessment Amount: 21054

Multi Family

  • Number Of Units Total: 2

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,288 $21,054 $11,054 $10,000
2024 $7,675 $21,054 $11,054 $10,000
2023 $7,675 $21,054 $11,054 $10,000
2022 $7,510 $21,054 $11,054 $10,000
2021 $7,510 $21,054 $11,054 $10,000
2020 $7,397 $21,054 $11,054 $10,000
2019 $6,990 $21,054 $11,054 $10,000
2018 $6,990 $21,054 $11,054 $10,000
2017 $6,891 $21,054 $11,054 $10,000
2016 $3,076 $21,054 $11,054 $10,000
2015 $5,445 $21,054 $11,054 $10,000
2014 -- $21,054 $11,054 $10,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/30/2025 04/30/25 Price Changed $279,900 -6.7% $69 / Sq Ft
03/30/2025 03/30/25 Price Changed $299,900 -9.1% $74 / Sq Ft
02/08/2025 02/08/25 For Sale $329,900 -- $82 / Sq Ft
Source: Greater Scranton Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Deed $155,000 None Listed On Document
Warranty Deed $52,000 Djs Abstract & Amp
Interfamily Deed Transfer -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $124,000 New Conventional
Source: Public Records

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Source: Greater Scranton Board of REALTORS®

MLS Number: GSBSC250549

Greater Scranton Board of REALTORS®

APN: 15626020008