501-503 Cedar Avenue, Scranton, PA 18505
Lackawanna County
Key Facts
Description
Excellent opportunity to own a 5-unit mixed-use property with low taxes and tremendous upside. The property currently features three occupied residential units with long-term tenants paying below-market rents, offering immediate income with plenty of room to increase cash flow.The two commercial storefronts are vacant, and the City of Scranton has approved their conversion into two additional residential units, giving the next owner the opportunity to create a fully residential 5-unit building and significantly increase rental income.Whether you're an experienced investor or looking to grow your portfolio, this property offers immediate cash flow, value-add potential, low carrying costs, and the opportunity to build long-term equity.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1900
Living Area
4,500 sq ft
Lot Size
0.10 acres
Lot Dimensions
49x150xx56x150
Zoning
CN
MLS® Listing#
SC263409
Property Features
Basement
Financial Details
Annual Taxes
$4,655
Tax year 2026
Assessed Value
$1
Parcel Number
15616020041
Directions
501-503 Cedar Avenue, Scranton, PA 18505
Affordability Calculator
$69,999
Estimated monthly payment
$1,863/mo
Principal $279,996 · Est. interest $390,619 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Scranton, PA
- $265,957
- Median Listing Price
- 61
- Median Days on Market
- 1,978
- Median Sq Ft
- $128
- Median Price / Sq Ft
- 166
- Active Listings
- This home’s price is 32% above the area median.
- Its price per sq ft is 39% below 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
South Scranton Intermediate School
Secondary · 0.3 mi away
Marian Catholic School
School · 0.4 mi away
John G. Elementary School
Elementary · 0.4 mi away
St Stanislaus Elementary School
Elementary · 0.5 mi away
Milton Eisner Yeshiva High School
Secondary · 0.7 mi away
Bishop Hannan High School
Secondary · 0.7 mi away
McNichols Plaza Elementary School
Elementary · 0.7 mi away
Wellkind School for Early Learners
Elementary · 0.8 mi away
Freckles & Frills
School · 0.8 mi away
Scranton School District
Elementary · 0.8 mi away
Scranton Hebrew Day School
School · 0.8 mi away
Central City
School · 1.0 mi away
Northeast Scranton Intermediate School
Secondary · 1.0 mi away
Frances Willard Elementary
Elementary · 1.1 mi away
Scranton High School
Secondary · 1.2 mi away
West Scranton High School
Secondary · 1.3 mi away
William Prescott Elementary School
Elementary · 1.3 mi away
All Saints Academy
School · 1.3 mi away
Charles Sumner Elementary School
Elementary · 1.4 mi away
Scranton Preparatory School
School · 1.4 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 |
| 414 S 416 S Edwards Court, Scranton, PA | $249,000 | 6 | 3 | 1,800 |
| 1102 1104 Albright Avenue, Scranton, PA | $250,000 | 6 | 3 | 3,809 |
| 627 S Blakely Street, Scranton, PA | $255,000 | 5 | 4 | 2,218 |
| 424 Dexter Avenue, Scranton, PA | $270,000 | 5 | 3 | 3,000 |
| 629 N Main Avenue, Scranton, PA | $275,000 | 5 | 3 | 1,924 |
Moving Cost Estimate
EXIT Agents in Scranton
Listing Courtesy: The Hub Real Estate Group Scranton - 5705070627
Presented by: Pat Rogan