622-624 S Main Avenue, Scranton, PA 18504
Lackawanna County
Key Facts
Description
Turn-Key Cash-Flowing Triplex with Major Capital Improvements & Rental Upside. Rare opportunity to acquire a fully occupied three-unit investment property featuring a desirable unit mix of one 4-bedroom apartment and two 2-bedroom apartments. Currently generating approximately $42,000 in annual gross income, with potential for future rent increases and improved returns.Unlike many investment properties requiring significant capital expenditures, this property has already undergone extensive improvements, including 3 brand-new furnaces, 3 new hot water heaters, 3 new electrical panels, updated plumbing, and luxury vinyl plank flooring. These major upgrades help minimize future maintenance costs while maximizing long-term cash flow.Ownership benefits include separate gas and electric utilities, helping keep operating expenses low. Additional features include a detached garage, off-street parking, and a fully fenced yard--valuable amenities that continue to attract and retain tenants.Conveniently located on Main Avenue near grocery stores, shopping, restaurants, schools, public transportation, and major commuter routes. Properties offering strong existing cash flow, tenant-paid utilities, major mechanical updates, and future rent-growth potential are becoming increasingly difficult to find. This is a true investment opportunity with immediate returns and long-term upside.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Structure Type
Multi Family / Triplex
Year Built
1901
Living Area
2,325 sq ft
Lot Size
0.20 acres
Lot Dimensions
47X105X44X90
Garage Spaces
1
Zoning
N
Days on Market
8
MLS® Listing#
SC262750
Property Features
Heating
Basement
Parking
Fencing
Other Structures
Financial Details
Annual Taxes
$5,394
Tax year 2026
Parcel Number
15609040012
Directions
Take I-81 North and get off at Exit 185 onto the President Biden Expressway. Take the Steamtown exit. Turn right onto Cedar Avenue, then left onto Mattes Avenue. Continue as it becomes Hickory Street,
Affordability Calculator
$64,000
Estimated monthly payment
$1,703/mo
Principal $256,000 · Est. interest $357,143 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Scranton, PA
- $267,391
- Median Listing Price
- 59
- Median Days on Market
- 1,978
- Median Sq Ft
- $129
- Median Price / Sq Ft
- 168
- Active Listings
- This home’s price is 20% above the area median.
- Its price per sq ft is 7% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Scranton, PA.
Location
Points of Interest in Scranton, PA
Showing the Scranton area map.
Nearby Schools
Frances Willard Elementary
Elementary · 0.0 mi away
West Scranton High School
Secondary · 0.3 mi away
West Scranton Intermediate School
Secondary · 0.3 mi away
All Saints Academy
School · 0.6 mi away
Charles Sumner Elementary School
Elementary · 0.9 mi away
South Scranton Intermediate School
Secondary · 0.9 mi away
St Stanislaus Elementary School
Elementary · 1.2 mi away
Wellkind School for Early Learners
Elementary · 1.2 mi away
Freckles & Frills
School · 1.2 mi away
Scranton High School
Secondary · 1.2 mi away
Bishop Hannan High School
Secondary · 1.3 mi away
Scranton School District
Elementary · 1.4 mi away
Marian Catholic School
School · 1.5 mi away
McNichols Plaza Elementary School
Elementary · 1.5 mi away
John G. Elementary School
Elementary · 1.5 mi away
John F. Kennedy Elementary School
Elementary · 1.6 mi away
Scranton Hebrew Day School
School · 1.7 mi away
Northeast Scranton Intermediate School
Secondary · 1.7 mi away
Central City
School · 1.7 mi away
Bancroft Elementary School
Elementary · 1.7 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 1337 Bryn Mawr Street, Scranton, PA | $249,000 | 46 | 3 | 2,900 |
| 1312 Dartmouth Street, Scranton, PA | $280,000 | 7 | 2 | 3,432 |
| 724 Court Street, Scranton, PA | $299,900 | 16 | 4 | 5,264 |
| 1618 Return Avenue, Scranton, PA | $319,000 | 7 | 3 | 1,905 |
| 1427-1431 Washburn Street, Scranton, PA | $329,000 | 9 | 4 | 3,200 |
| 1830 1832 Washburn Street, Scranton, PA | $340,000 | 7 | 3 | 4,660 |
Moving Cost Estimate
EXIT Agents in Scranton
Listing Courtesy: EXP Realty LLC
Presented by: Alyssa Mackiw