16-18 Cook St · Ashley, PA 18706

$349,900

8 bd · 4.0 ba · 4,134 sqft · MultiFamily · 100 Days on market

Fair condition 5,700 sqft lot $85/sqft · 53% above area

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

4 Unit building with 2 3 bedroom units and 2 2 bedroom units. Off street parking for 8 cars. Close to Hanover industrial park. A little work and all 4 units will be ready to rent. 3 units can be rented immediately.

Key facts

• Off street parking
• Ready to rent
• 5,700 sq ft lot

Tags

• OFF STREET PARKING
• READY TO RENT

What this means for you Summary

Snapshot

• This is a 2×3bd/1.0ba + 2×2bd/1.0ba units multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $443/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#466 in PA, #4,297 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime C-, schools F, commute F.
• Hanover Area SD (suburban): math 19% / reading 25% proficiency, ranked #484 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 81 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $5,306/mo this rent would consume 109% of the median local household income ($59k/yr) (locally 568% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $318,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.72%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

• ARV (median comp): $227,947
• List price: $349,900
• Delta: 53.50%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.58×
• Total profit: $56,347
• Equity at exit: $52,171

10-year hold

• IRR: 23.1%
• Equity multiple: 2.99×
• Total profit: $194,852
• Equity at exit: $30,253

Cash invested: $97,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18706

• Active inventory: 81
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $5,306 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,114
• Net cashflow: $1,774

Break-even live

Break-even rent $3,061

Max offer price $349,900

Occupancy floor 62%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,772
▸ 2× units	2	1	$2,532
Total (4 units)			$5,306

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $349,900 Active 100 DOM
2. 2026-06-17
   days on market $349,900 Active 99 DOM
3. 2026-06-16
   days on market $349,900 Active 98 DOM
4. 2026-06-15
   days on market $349,900 Active 97 DOM
5. 2026-06-14
   days on market $349,900 Active 95 DOM
6. 2026-06-13
   days on market $349,900 Active 94 DOM
7. 2026-06-10
   days on market $349,900 Active 92 DOM
8. 2026-06-09
   days on market $349,900 Active 91 DOM
9. 2026-06-08
   days on market $349,900 Active 90 DOM
10. 2026-06-07
    days on market $349,900 Active 89 DOM
11. 2026-06-02
    days on market $349,900 Active 84 DOM
12. 2026-06-01
    days on market $349,900 Active 83 DOM
13. 2026-05-31
    days on market $349,900 Active 82 DOM
14. 2026-05-30
    days on market $349,900 Active 81 DOM
15. 2026-03-10
    listed $349,900 Active 214-char remark

    Show marketing remark (214 chars)

    4 Unit building with 2 3 bedroom units and 2 2 bedroom units. Off street parking for 8 cars. Close to Hanover industrial park. A little work and all 4 units will be ready to rent. 3 units can be rented immediately.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,672
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$5,094
• − Management: −$5,094
• − Depreciation: −$10,179
• Taxable income: $16,708
• Est. tax owed @ 24.0%: −$4,010
• After-tax cash flow: $17,274/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This multi-family home requires a moderate level of renovation to bring it up to a move-in-ready condition. The kitchen and bathrooms are in the process of being renovated, and there is potential for significant value increases through complete renovations and landscaping improvements.

Repairs flagged

• Minor Kitchen cabinets — Cabinets appear to be in the process of being installed.
• Minor Kitchen countertops — Countertops appear to be in the process of being installed.
• Minor Kitchen appliances — Appliances appear to be in the process of being installed.
• Minor Bathroom fixtures — Fixtures appear to be in the process of being installed.
• Minor Bathroom flooring — Flooring appears to be in the process of being installed.
• Minor Flooring — Flooring appears to be in the process of being installed.
• Minor Interior walls — Paint job is not yet complete.
• Minor Landscaping — Minimal landscaping with some bare ground visible.

Value-add opportunities

• Both Complete kitchen renovation — A complete kitchen renovation would significantly improve the home's appeal and functionality, benefiting both resale and rental value.
• Both Complete bathroom renovation — A complete bathroom renovation would significantly improve the home's appeal and functionality, benefiting both resale and rental value.
• Both Landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's overall appearance and attract more potential buyers or renters.
• Rental HVAC and mechanical system maintenance — Maintaining the HVAC and mechanical systems would ensure the home is comfortable and energy-efficient, which is important for rental properties.
• Both Interior painting — Interior painting would improve the home's appearance and make it more attractive to potential buyers or renters.
• Both Exterior painting — Exterior painting would improve the home's appearance and make it more attractive to potential buyers or renters.
• Both Landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's overall appearance and attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets appear to be in the process of being installed.	Minor	$500–3,000
Kitchen countertops · Countertops appear to be in the process of being installed.	Minor	$500–3,000
Kitchen appliances · Appliances appear to be in the process of being installed.	Minor	$500–3,000
Bathroom fixtures · Fixtures appear to be in the process of being installed.	Minor	$500–3,000
Bathroom flooring · Flooring appears to be in the process of being installed.	Minor	$500–3,000
Flooring · Flooring appears to be in the process of being installed.	Minor	$500–3,000
Interior walls · Paint job is not yet complete.	Minor	$500–3,000
Landscaping · Minimal landscaping with some bare ground visible.	Minor	$500–3,000
Total estimated repair cost · 8 items		$4,000–24,000

Value-add ROI direction

• Both Complete kitchen renovation — A complete kitchen renovation would significantly improve the home's appeal and functionality, benefiting both resale and rental value. ↑
• Both Complete bathroom renovation — A complete bathroom renovation would significantly improve the home's appeal and functionality, benefiting both resale and rental value. ↑
• Both Landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's overall appearance and attract more potential buyers or renters. ↑
• Rental HVAC and mechanical system maintenance — Maintaining the HVAC and mechanical systems would ensure the home is comfortable and energy-efficient, which is important for rental properties. ↑
• Both Interior painting — Interior painting would improve the home's appearance and make it more attractive to potential buyers or renters. ↑
• Both Exterior painting — Exterior painting would improve the home's appearance and make it more attractive to potential buyers or renters. ↑
• Both Landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's overall appearance and attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hanover Area SD
• NCES district ID: 4211420
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 25% ▼ -21.00%
• Median HH income: $40,015
• Composite: 18.6/100
• National rank: #8903
• State rank: #484 of 539 in PA

Livability — Ashley

• Score: 75/100
• State rank: #466
• US rank: #4297

Category grades

Amenities C Commute F Cost of living A+ Crime C- Employment F Housing B Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashley, PA
• County: Luzerne County · 118,885 people
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 16,387
• Household income: $58,558
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 568.0

Population outlook (Luzerne County) Hauer SSP2

• Today (2025): 319,505 people
• By 2030: 319,943 · +0.1%
• By 2040: 322,643 · +1.0%
• By 2050: 330,817 · +3.5%
• By 2075: 379,145 · +18.7%
• By 2100: 431,908 · +35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 11% Black 3%
• Hispanic origin (detail): Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 18% Scotch-Irish 3% Subsaharan African 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Asian/Pacific 1%

Political lean MEDSL · Luzerne

• 2024 margin: R (+19.2) · D 40.0% · R 59.2%
• 2008→2024 swing: -27.6pp toward R · 2008: 8.4pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+14.4 2016: R+19.6 2012: D+4.8 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.02%
• Current HPI: 196.19
• Rent YoY: —
• Metro: Scranton--Wilkes-Barre, PA
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

1 event — show timeline

• 2026-03-10 Listed $349,900 LCAR