airbnb property for sale Scranton
Scranton is a mid-sized city situated within the heart of Lackawanna and has an urban feel which can be a perfect option for those who want to invest in a great city with diverse options. Popular for being the Electric City in Pennsylvania, Scranton offers several fun tourist attractions such as the Rattlesnake Falls and Lahey Family Fun Park.
If you’re looking for an adventure filled with exciting memories from decades ago, you can certainly find it in this city – particularly in Electric City Trolley Museum. This city also features the Steamtown National Historic Site which is a must-see attraction that takes you back in time!
Parasole Property declares that Scranton is the 4th best place to buy or invest in real estate in America, thanks to its low cost of living & low crime rate. Scranton also hosts some of the most famous music festivals such as the Scranton Jazz Festival, La Festa Italiana, and many others.
Before taking the first step of purchasing a property, let’s dive in and learn about Airbnb property investment in Scranton and discover whether it’s worth your penny and precious time. Continue reading to learn more.
Reasons to Invest in Scranton
Scranton may be the 5th best place to live in Pennsylvania as stated by Real Estate USA, but there’s so much more to discover. Check out some of the reasons to invest in Scranton that can help you figure out if it’s a good place to invest in an Airbnb property:
1. Affordable Cost of Living
To begin with, if you are planning to live in this city while running an Airbnb business, a low cost of living is certainly important. In comparison to the national average and most cities in the state, the cost of living in Scranton is lower and affordable. Highly recommended for those who are in for a good start!
2. Fast Internet Connection
Quite frankly, there are several remote workers who prefer to work from anywhere and this is one of the many essentials that they need. Dwellics confirms that one of the pros of living in Scranton is their fixed internet lines, which means there would be no problems for setting up wi-fi for Airbnb properties.
What to Expect: Property Management in Scranton
While the overall livability in Scranton is intensely above average, it’s still important to know what to expect before spending your hard-earned money on a property. Here’s what we discovered: This city has higher crime rates than the national average (33 per 1,000 people) according to Citytistics. On a positive note, The Local Observer Daily confirms that property crime in Scranton is relatively lower than the national average.
airbnb property for sale Scranton
Profitable Neighborhoods for Airbnb in Scranton
While Scranton is undoubtedly one of the best property investment cities in the USA, let’s take a closer look at the important Airbnb key metrics. Filtered for a 1-bedroom apartment, here is a brief overview of some of the most recommended and profitable neighborhoods in Scranton:
1. Lake Scranton
- Annual revenue: $26,479
- Average daily rate: $102
- Occupancy rate: 67%
2. North Scranton
- Annual revenue: $26,479
- Average daily rate: $102
- Occupancy rate: 67%
Is Scranton, Pennsylvania Profitable for Investment?
Using an Airbnb profit calculator, it was discovered that a 2-bedroom apartment in Scranton can generate an annual revenue of $27,248 with a steady occupancy rate of 61% and a nightly rate of $119.
airbnb property for sale Scranton
Scranton Homes for Sale
Looking for cheap houses in Scranton, PA, will not only let you have access to a delightful vacation spot, but it can also bring an excellent return on investment as long as you target the right neighborhood. It may be difficult to find the best properties that have the potential to produce high yields and capital growth, but this article will certainly help you through!
Check out Scranton PA’s new homes for sale, along with the calculated gross rental yield, cash-on-cash return, and annual revenue.
191 Presidential Blvd Unit R907, Bala Cynwyd, PA 19004
1. Studio-type Property for Sale Scranton
- 1.4 miles to Cynwyd School
- Asking Price: $79,900
| GROSS RENTAL YIELD | 22.22% |
| ANNUAL REVENUE | $17,754 |
| CASH ON CASH RETURN | 40.89% |
3 Village Cir, Stroudsburg, PA 18360
2. 1-Bedroom Type Property for Sale Scranton
- 0.5 miles Stroudsburg High School
- Asking Price: $109,900
| GROSS RENTAL YIELD | 23.87% |
| ANNUAL REVENUE | $26,234 |
| CASH ON CASH RETURN | 45.84% |
133 Sawyer Dr, Aliquippa, PA 15001
3. 2-Bedroom Type Property for Sale Scranton
- 1.1 miles to Hopewell Senior High School
- Asking Price: $139,900
| GROSS RENTAL YIELD | 24.32% |
| ANNUAL REVENUE | $34,030 |
| CASH ON CASH RETURN | 47.21% |
17822 Route 6, Mansfield, PA 16933
4. 3-Bedroom Type Property for Sale Scranton
- 0.9 miles Warren L Miller El School
- Asking Price: $168,900
| GROSS RENTAL YIELD | 24.67% |
| ANNUAL REVENUE | $41,664 |
| CASH ON CASH RETURN | 48.24% |
1605 Andrews Ave, Philadelphia, PA 19138
5. 4-Bedroom Type Property for Sale Scranton
- 0.3 miles to King Martin Luther High School
- Asking Price: $274,900
| GROSS RENTAL YIELD | 24.79% |
| ANNUAL REVENUE | $68,161 |
| CASH ON CASH RETURN | 48.62% |
Conclusion
Investing in a property is certainly a huge step that one needs to not only think about – but also conduct market research for accuracy. With the various industries & recreational activities to do in Scranton, it can generate a nice cash flow for property investors as long as the right neighborhood is targeted and potential revenue is calculated using an Airbnb rental arbitrage calculator. While there are many other cities to invest in Pennsylvania aside from Scranton, it’s definitely worth the time & effort to speak with a short-term rental expert to make the wisest decision for property investment.
