88-90 Depot St · Forest City, PA 18421

$175,000

4 bd · 2.0 ba · 2,240 sqft · Other · 86 Days on market

Built 1930 4,356 sqft lot $78/sqft · 13% above area Est $155k · 13% over

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Why this score? — see what drove the C- 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 +17.6/30.0
• Appreciation +10.0/10.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0

Listing remarks MLS

TURNKEY DUPLEX | IMMEDIATE CASH FLOW | FULLY OCCUPIED | HOUSE HACK OR INVEST WITH CONFIDENCEWelcome to 88-90 Depot Street in Forest City, Pennsylvania--an income-producing multi-family property positioned for both seasoned investors and first-time buyers looking to offset their mortgage through rental income. Fully occupied and professionally maintained, this duplex delivers immediate returns with minimal operational complexity. Reliable Income with Built-In FlexibilityBoth units are currently leased on month-to-month agreements, offering consistent cash flow today with the option to adjust rents or pursue owner-occupancy in the future. Tenants pay electric and heat, while water and sewer remain landlord-covered--keeping expenses predictable and streamlined. Well-Configured, High-Demand Units. The property features two spacious units, each approximately 1,100 square feet. Unit 90 offers three bedrooms and one bathroom, while Unit 88 includes two bedrooms and one bathroom. Interiors have been updated and maintained in solid condition, supporting strong tenant retention and ongoing rental demand. Designed for Performance and Low OverheadOff-street parking enhances tenant appeal, while the overall condition of the property reflects consistent upkeep and reduced capital expenditure expectations. Functional layouts and practical design make this an attractive option for long-term renters. Strategic Location with Steady DemandLocated in the center of Forest City, the property benefits from a reliable rental market driven by affordability and convenience. Close proximity to shops, dining, schools, and parks supports consistent occupancy and long-term stability--key factors for any successful investment. A Smart Entry Point or Portfolio Addition. This duplex offers a compelling combination of cash flow, flexibility, and future upside. Live in one unit and rent the other or continue operating as a fully leased asset. Immediate income. Proven stability. Long-term potential.

Key facts

• Recently updated
• Off-street parking
• 4,356 sq ft lot

Tags

• MULTI-FAMILY PROPERTY
• INVESTMENT OPPORTUNITY
• IMMEDIATE RENTAL INCOME
• RECENTLY UPDATED
• OFF-STREET PARKING
• PEACEFUL RURAL SETTING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (2.8% below list).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#1,019 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Forest City Regional SD (suburban): math 34% / reading 51% proficiency, ranked #308 of 539 in PA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 80 units permitted in Susquehanna County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Susquehanna County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $175k implies a 338% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (median comp): $154,606
• List price: $175,000
• Delta: 13.19%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 3.12×
• Total profit: $104,021
• Equity at exit: $157,654

10-year hold

• IRR: 23.4%
• Equity multiple: 7.11×
• Total profit: $299,542
• Equity at exit: $339,987

Cash invested: $49,000 (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 18421

• Home prices YoY: 20.9%
• Active inventory: 53
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$216 /mo · $2,596/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $136

Break-even live

Break-even rent $1,528

Max offer price $175,000

Occupancy floor 87%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $175,000 Active 86 DOM
2. 2026-06-17
   days on market $175,000 Active 85 DOM
3. 2026-06-16
   days on market $175,000 Active 84 DOM
4. 2026-06-15
   days on market $175,000 Active 83 DOM
5. 2026-06-14
   days on market $175,000 Active 81 DOM
6. 2026-06-13
   days on market $175,000 Active 80 DOM
7. 2026-06-10
   days on market $175,000 Active 78 DOM
8. 2026-06-09
   days on market $175,000 Active 77 DOM
9. 2026-06-08
   days on market $175,000 Active 76 DOM
10. 2026-06-07
    days on market $175,000 Active 75 DOM
11. 2026-06-03
    days on market $175,000 Active 71 DOM
12. 2026-06-02
    days on market $175,000 Active 70 DOM
13. 2026-06-01
    days on market $175,000 Active 69 DOM
14. 2026-05-31
    days on market $175,000 Active 68 DOM
15. 2026-05-30
    days on market $175,000 Active 67 DOM
16. 2026-04-21
    price $175,000 1998-char remark

    Show marketing remark (1998 chars)

    TURNKEY DUPLEX | IMMEDIATE CASH FLOW | FULLY OCCUPIED | HOUSE HACK OR INVEST WITH CONFIDENCEWelcome to 88-90 Depot Street in Forest City, Pennsylvania--an income-producing multi-family property positioned for both seasoned investors and first-time buyers looking to offset their mortgage through rental income. Fully occupied and professionally maintained, this duplex delivers immediate returns with minimal operational complexity. Reliable Income with Built-In FlexibilityBoth units are currently leased on month-to-month agreements, offering consistent cash flow today with the option to adjust rents or pursue owner-occupancy in the future. Tenants pay electric and heat, while water and sewer remain landlord-covered--keeping expenses predictable and streamlined. Well-Configured, High-Demand Units. The property features two spacious units, each approximately 1,100 square feet. Unit 90 offers three bedrooms and one bathroom, while Unit 88 includes two bedrooms and one bathroom. Interiors have been updated and maintained in solid condition, supporting strong tenant retention and ongoing rental demand. Designed for Performance and Low OverheadOff-street parking enhances tenant appeal, while the overall condition of the property reflects consistent upkeep and reduced capital expenditure expectations. Functional layouts and practical design make this an attractive option for long-term renters. Strategic Location with Steady DemandLocated in the center of Forest City, the property benefits from a reliable rental market driven by affordability and convenience. Close proximity to shops, dining, schools, and parks supports consistent occupancy and long-term stability--key factors for any successful investment. A Smart Entry Point or Portfolio Addition. This duplex offers a compelling combination of cash flow, flexibility, and future upside. Live in one unit and rent the other or continue operating as a fully leased asset. Immediate income. Proven stability. Long-term potential.

17. 2026-03-13
    listed $180,000 Active 1998-char remark

    Show marketing remark (1998 chars)

    TURNKEY DUPLEX | IMMEDIATE CASH FLOW | FULLY OCCUPIED | HOUSE HACK OR INVEST WITH CONFIDENCEWelcome to 88-90 Depot Street in Forest City, Pennsylvania--an income-producing multi-family property positioned for both seasoned investors and first-time buyers looking to offset their mortgage through rental income. Fully occupied and professionally maintained, this duplex delivers immediate returns with minimal operational complexity. Reliable Income with Built-In FlexibilityBoth units are currently leased on month-to-month agreements, offering consistent cash flow today with the option to adjust rents or pursue owner-occupancy in the future. Tenants pay electric and heat, while water and sewer remain landlord-covered--keeping expenses predictable and streamlined. Well-Configured, High-Demand Units. The property features two spacious units, each approximately 1,100 square feet. Unit 90 offers three bedrooms and one bathroom, while Unit 88 includes two bedrooms and one bathroom. Interiors have been updated and maintained in solid condition, supporting strong tenant retention and ongoing rental demand. Designed for Performance and Low OverheadOff-street parking enhances tenant appeal, while the overall condition of the property reflects consistent upkeep and reduced capital expenditure expectations. Functional layouts and practical design make this an attractive option for long-term renters. Strategic Location with Steady DemandLocated in the center of Forest City, the property benefits from a reliable rental market driven by affordability and convenience. Close proximity to shops, dining, schools, and parks supports consistent occupancy and long-term stability--key factors for any successful investment. A Smart Entry Point or Portfolio Addition. This duplex offers a compelling combination of cash flow, flexibility, and future upside. Live in one unit and rent the other or continue operating as a fully leased asset. Immediate income. Proven stability. Long-term potential.

18. 2019-06-07
    soldstatus $40,000
19. 2018-05-28
    listed $55,000
20. 2008-01-03
    listed $92,000
21. 2005-02-25
    soldstatus $75,260

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $2,596 · $216/mo
• Projected year-2 tax: $2,681 · $223/mo
• Expected delta: +$84/yr (+$7/mo · 3.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,406
• − Mortgage interest: −$9,803
• − Property taxes: −$2,596
• − Insurance: −$875
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$5,091
• Taxable loss: −$1,224
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $1,931/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.

Schools (NCES district)

• District: Forest City Regional SD
• NCES district ID: 4209930
• Math proficiency: 34% ▼ -17.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $47,744
• Composite: 36.29/100
• National rank: #4701
• State rank: #308 of 539 in PA

Livability — Forest City

• Score: 66/100
• State rank: #1019
• US rank: #11278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, PA
• Population (ZIP): 4,475

Population outlook (Susquehanna County) Hauer SSP2

• Today (2025): 37,552 people
• By 2030: 35,270 · -6.1%
• By 2040: 30,663 · -18.3%
• By 2050: 26,492 · -29.5%
• By 2075: 19,658 · -47.7%
• By 2100: 15,179 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 11% Italian 3% Scotch-Irish 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 97% English-only · Spanish 1% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Susquehanna

• 2024 margin: Solid R (+44.7) · D 27.2% · R 71.9%
• 2008→2024 swing: -33.0pp toward R · 2008: -11.7pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.2 2016: R+42.9 2012: R+21.4 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 48.80%
• Current HPI: 282.5624
• Rent YoY: —
• Metro: —
• 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

+132.5% since first listed

6 events — show timeline

• 2026-04-21 Price Changed $175,000 PWMLS
• 2026-03-13 Listed $180,000 PWMLS
• 2019-06-07 Sold (MLS) $40,000 PWMLS
• 2018-05-28 Listed $55,000 PWMLS
• 2008-01-03 Listed $92,000 GSBR as distributed by MLS GRID
• 2005-02-25 Sold (MLS) $75,260 GSBR as distributed by MLS GRID

Property tax history

+2.3%/yr

Latest (2026): $2,596 · +4.0% YoY. Source: county tax records.