Scranton pa market worth it?

Question

Anyone with knowledge on this market I have found a 3 unit over here fully rented and I am thinking about pulling the trigger any advice ? Thanks bp family

Chris K. · Answer

@Ehab Habib

There are a few of us in the area. It would be helpful if you could give more context on what advice you need. It historically been a 10 cap market and behaves accordingly. The x-factors are that realty transfer taxes are one of the highest in the state and the local politics can get tricky at times. But it's a solid place if you are looking for a 10-cap type market.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

Boris Suchkov · Answer

@Ehab Habib, I'm no expert but I did buy a duplex in Scranton late last year. I can share my story so far. Scranton is certainly a market with many inexpensive properties that will cashflow if purchased right. The area being on the very edge of the NYC metropolitan area is not so much affected by trends closer to NYC, but it has its own fairly stable economy with robust demand for rentals.

As you probably heard from others, the city of Scranton is not the easiest to deal with. Also many on this forum (and myself) would argue against keeping existing tenants. But your mileage may vary. In any situation it depends on your safety margin and appetite for risk.

For more specific feedback, it will help if you show the numbers and/or output from a BP calculator.

Jaysen Medhurst · Answer

@Ehab Habib, have you asked in the Scranton forum?

Scranton pa market worth it?

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