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2026 2028 Margaret Avenue, Scranton, PA 18508

$229,000
Property Type: Residential Income Bedrooms: 6 Baths: 2 Lot Size (sq. ft.): 7,405 Status: Pending
Current Price: $229,000 List Date: 1/29/2025 Last Modified: 2/05/2025

Description

Prime Investment Opportunity - Turnkey Two-Unit Property This fully turnkey, two-unit investment property offers an outstanding opportunity for investors seeking steady cash flow and immediate returns. With a remarkable 10.8 cap rate, this property is ideal for building or expanding your real estate portfolio. Property Highlights: • Unit 1: Currently occupied by reliable tenants, providing consistent rental income. • Unit 2: Vacant and ready for occupancy, allowing flexibility for an owner-occupant or quick leasing. • Utilities: Completely split for both units, minimizing landlord responsibilities and simplifying management. • Turnkey Condition: Both units are well-maintained and require no immediate updates, ensuring a hassle-free investment. Upgrades: New Paint, New Carpet, New appliances in left side including: Refrigerator, Stove and Dishwasher. Baker WaterProofed Basement (warranty is transferable) New Gutters, Electric upgrades and New Chimney liner. Whether you're looking to live in one unit while earning rental income from the other or seeking a fully income-generating property, this versatile investment delivers exceptional value. With strong rental demand and great cash flow potential, this property won't stay on the market long! Contact us today to schedule a showing and secure your next investment.

More Information MLS# SC-250382

Contract Information

Current Price: $229,000 List Price: $229,000 Status: Pending Listing Contract Date: 2025-01-28 Property Sub Type: Multi Family Listing Agreement: Exclusive Right To Sell Seller Offers Concessions YN: Yes Owner Name: Douglas & Rebecca Milton

Location Tax and Legal

Street Number: 2026 Street Name: 2028 Margaret Street Suffix: Avenue State: PA Postal Code: 18508 County: Lackawanna

General Property Information

Number Of Buildings: 1 Number Of Units Total: 2 Bedrooms Total: 6 Bathrooms Total: 2 Bathrooms Full: 2 Above Grade Finished Area: 2258 Below Grade Unfinished Area: 950 Living Area: 2258 Enhanced Accessible: No Year Built: 1925 Year Built Source: Assessor New Construction YN: No Garage YN: Yes Garage Spaces: 2 Open Parking Spaces: 4 Parking Total: 5 Lot Size Acres: 0.17 Lot Size Dimensions: 47X160 Land Lease YN: No Association YN: No Waterfront YN: No Basement YN: Yes Stories: 2 Spa YN: No Senior Community YN: No Rent Control YN: No Auction YN: No List Price/SqFt: 101.42

Remarks and Miscellaneous

Public Remarks: Prime Investment Opportunity - Turnkey Two-Unit Property This fully turnkey, two-unit investment property offers an outstanding opportunity for investors seeking steady cash flow and immediate returns. With a remarkable 10.8 cap rate, this property is ideal for building or expanding your real estate portfolio. Property Highlights: • Unit 1: Currently occupied by reliable tenants, providing consistent rental income. • Unit 2: Vacant and ready for occupancy, allowing flexibility for an owner-occupant or quick leasing. • Utilities: Completely split for both units, minimizing landlord responsibilities and simplifying management. • Turnkey Condition: Both units are well-maintained and require no immediate updates, ensuring a hassle-free investment. Upgrades: New Paint, New Carpet, New appliances in left side including: Refrigerator, Stove and Dishwasher. Baker WaterProofed Basement (warranty is transferable) New Gutters, Electric upgrades and New Chimney liner. Whether you're looking to live in one unit while earning rental income from the other or seeking a fully income-generating property, this versatile investment delivers exceptional value. With strong rental demand and great cash flow potential, this property won't stay on the market long! Contact us today to schedule a showing and secure your next investment. Inclusions: Refrigerator, Stove and Dishwasher- All seller owned appliances Exclusions: Washer and Dryer.

Status Change Information

Major Change Timestamp: 2025-02-05T21:57:21Z Major Change Type: Status Change Status Change Timestamp: 2025-02-05 Purchase Contract Date: 2025-02-05

Income and Expenses

Cap Rate: 10 Gross Income: 30600 Insurance Expense: 1255 Net Operating Income: 24664 Operating Expense: 5936

Unit 1

Unit #: 2026 Actual Rent: 1275 Security Deposit $: 1250 SqFt Total: 1068 Baths Total: 1 Beds Total: 3 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes

Unit 2

Unit #: 2028 Actual Rent: 1061 SqFt Total: 1073 Baths Total: 1 Beds Total: 3 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes Occupied YN: No Unit Remarks: Vacant

Property Features

Appliances: Dishwasher; Electric Oven; Refrigerator; Other Architectural Style: Duplex Side by Side Basement: Unfinished Common Walls: 1 Common Wall Community Features: None Construction Materials: Attic/Crawl Hatchway(s) Insulated Current Use: Multi-Family Exterior Features: Private Yard Fencing: Back Yard; Fenced; Wood Income Includes: Rent Only Laundry Features: Electric Dryer Hookup; Washer Hookup Owner Pays: Insurance; Taxes Parking Features: Garage; Off Street; On Street Pool Features: None Roof: Asphalt Sewer: Public Sewer Showing Requirements: 24 Hour Notice; Appointment Only; Showing Service Spa Features: None Structure Type: Duplex Tenant Pays: All Utilities Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected View: Neighborhood Water Source: Public
Listing Office: EXP Realty LLC
Last Updated: February - 05 - 2025
Information deemed reliable but not guaranteed.