1613 Hanna St · New Castle, PA 16102

$74,999

3 bd · 1.0 ba · 1,270 sqft · SingleFamily public records · 83 Days on market

Built 1920 4,573 sqft lot $59/sqft · 37% above area Est $55k · 37% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Classic 1920's home with large welcoming porch on a corner lot. Hardwood floors on the first floor and wood trim accents inside. First floor laundry for convenience. Property also offers a 2 car detached garage

Key facts

• First floor laundry
• Hardwood floors
• Detached garage

Tags

• LARGE WELCOMING PORCH
• HARDWOOD FLOORS
• FIRST FLOOR LAUNDRY
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 8.7% in New Castle — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#137 in PA, #1,120 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F, employment F.
• New Castle Area SD (town): math 9% / reading 19% proficiency, ranked #519 of 539 in PA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 17 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 51 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lawrence County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $15k; list at $75k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1920 — 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: 1.89% ✓
• Cap rate: 16.07%
• Cash-on-cash: 34.92%
• DSCR: 2.55
• GRM: 4.4

CMA / ARV

• ARV (median comp): $54,732
• List price: $74,999
• Delta: 37.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 W Chartes St	0.14mi	3/1.0	1,200 (-6%)	2mo	$54,000	$45	83
24 W Chartes St	0.15mi	4/1.0 (+1)	1,216 (-4%)	2mo	$113,000	$93	79
110 W Chartes St	0.23mi	3/2.0	1,308 (+3%)	3mo	$55,000	$42	78
506 E Long Ave	0.42mi	3/1.0	1,280 (+1%)	2mo	$9,500	$7	78
1308 Cunningham Ave	0.51mi	3/1.0	1,288 (+1%)	1mo	$25,000	$19	73
1816 Moravia St	0.34mi	3/2.0	1,204 (-5%)	2mo	$95,000	$79	70
517 Electric St	0.39mi	3/1.0	1,404 (+11%)	1mo	$44,000	$31	63
1902 Hamilton St	0.23mi	3/1.5	1,428 (+12%)	4mo	$33,000	$23	63
1203 Cunningham Ave	0.58mi	3/1.0	1,328 (+5%)	3mo	$25,000	$19	63
311 E Reynolds St	0.43mi	2/1.0 (-1)	1,136 (-11%)	0mo	$10,000	$9	57
121 S Northview Ave	0.36mi	2/1.0 (-1)	1,110 (-13%)	0mo	$122,000	$110	57
221 Friendship St	0.70mi	2/1.0 (-1)	1,184 (-7%)	0mo	$23,000	$19	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 30.4%
• Equity multiple: 2.28×
• Total profit: $26,777
• Equity at exit: $11,183

10-year hold

• IRR: 37.7%
• Equity multiple: 4.50×
• Total profit: $73,485
• Equity at exit: $6,485

Cash invested: $21,000 (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 16102

• Home prices YoY: -9.6%
• Active inventory: 17
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,415 high
• Mortgage (P&I): −$393
• Tax from tax record: −$82 /mo · $988/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $611

Break-even live

Break-even rent $642

Max offer price $74,999

Occupancy floor 52%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 S Jefferson St New Castle, PA	3.0	1.0	1500	$1,500	$1.00	43d	1	0.07mi
503 Galbreath St New Castle, PA	2.0	1.0	1228	$1,295	$1.05	43d	1	0.30mi
1708 Moravia St New Castle, PA	3.0	2.0	1500	$1,500	$1.00	43d	1	0.33mi
712 E Reynolds St New Castle, PA	3.0	1.0	1182	$975	$0.82	43d	1	0.67mi
1112 Williams St New Castle, PA	2.0	1.0	1026	$1,400	$1.36	43d	1	0.73mi
1510 Huron Ave New Castle, PA	3.0	1.0	1560	$1,475	$0.95	43d	1	1.00mi
932 Morton St New Castle, PA	3.0	1.0	1440	$1,375	$0.95	43d	1	1.08mi
1056 Adams St New Castle, PA	3.0	1.0	1116	$1,500	$1.34	43d	1	1.38mi

Listing history 19 events

1. 2026-06-19
   days on market $74,999 Active 83 DOM
2. 2026-06-18
   days on market $74,999 Active 82 DOM
3. 2026-06-17
   days on market $74,999 Active 81 DOM
4. 2026-06-16
   days on market $74,999 Active 80 DOM
5. 2026-06-15
   days on market $74,999 Active 79 DOM
6. 2026-06-14
   days on market $74,999 Active 77 DOM
7. 2026-06-12
   days on market $74,999 Active 76 DOM
8. 2026-06-09
   days on market $74,999 Active 73 DOM
9. 2026-06-08
   days on market $74,999 Active 72 DOM
10. 2026-06-07
    days on market $74,999 Active 71 DOM
11. 2026-06-03
    days on market $74,999 Active 67 DOM
12. 2026-06-02
    days on market $74,999 Active 66 DOM
13. 2026-06-01
    days on market $74,999 Active 65 DOM
14. 2026-05-31
    days on market $74,999 Active 64 DOM
15. 2026-05-30
    days on market $74,999 Active 63 DOM
16. 2026-03-28
    listed $74,999 Active 211-char remark

    Show marketing remark (211 chars)

    Classic 1920's home with large welcoming porch on a corner lot. Hardwood floors on the first floor and wood trim accents inside. First floor laundry for convenience. Property also offers a 2 car detached garage

17. 2015-11-16
    soldstatus $15,000
18. 2015-09-24
    historical 125-char remark

    Show marketing remark (125 chars)

    Attractive corner lot. Vinyl sided two story with back porch and large detached garage. Low Taxes Great Investor opportunity

19. 2015-04-10
    listed $24,900 Active 125-char remark

    Show marketing remark (125 chars)

    Attractive corner lot. Vinyl sided two story with back porch and large detached garage. Low Taxes Great Investor opportunity

ⓘ 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: $988 · $82/mo
• Projected year-2 tax: $1,086 · $91/mo
• Expected delta: +$98/yr (+$8/mo · 10.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,981
• − Mortgage interest: −$4,201
• − Property taxes: −$988
• − Insurance: −$375
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$2,182
• Taxable income: $6,518
• Est. tax owed @ 24.0%: −$1,564
• After-tax cash flow: $5,768/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: New Castle Area SD
• NCES district ID: 4216620
• Math proficiency: 9% ▼ -13.00%
• Reading proficiency: 19% ▼ -23.00%
• Median HH income: $30,967
• Composite: 11.08/100
• National rank: #9736
• State rank: #519 of 539 in PA

Livability — New Castle

• Score: 82/100
• State rank: #137
• US rank: #1120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, PA
• City population: 30,767
• Population (ZIP): 4,933

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 81,781 people
• By 2030: 77,978 · -4.7%
• By 2040: 69,522 · -15.0%
• By 2050: 61,344 · -25.0%
• By 2075: 45,027 · -44.9%
• By 2100: 31,305 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Black 2%
• Common ancestry: Romanian 11% Serbian 3% Slovak 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+33.8) · D 32.8% · R 66.5%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.1pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+29.6 2016: R+28.1 2012: R+9.0 2008: R+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.16%
• Current HPI: 153.0061
• 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

+201.2% since first listed

4 events — show timeline

• 2026-03-28 Listed $74,999 West Penn MLS
• 2015-11-16 Sold (Public Records) $15,000 Public Records
• 2015-09-24 Delisted — West Penn MLS
• 2015-04-10 Listed $24,900 West Penn MLS

Property tax history

+2.1%/yr

Latest (2025): $988 · -0.5% YoY. Source: county tax records.