129 2 Carlisle St · Wilkes-Barre, PA 18702

$159,999

4 bd · 2.0 ba · 1,566 sqft · MultiFamily public records · 5 Days on market

Built 1935 7,372 sqft lot Est $139k · 15% 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
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great investment opportunity. Bring your ideas and put your own touches on this multi family unit. Main roof installed on June of 2020. Both furnaces and both hot water heaters installed on June of 2020. 2 New toilets.

Key facts

• Side-by-side duplex
• 7,372 sq ft lot
• Built 1935

Tags

• SIDE-BY-SIDE DUPLEX
• LARGE SIDE AND REAR YARD

Property features AI

Finance

• Financial info: Annual tax amount: $1,229

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property
• Exterior features: Aluminum siding; Lot roughly 97 x 76; Residential zoning

Interior

• Heating & cooling: Natural gas heating; Hot water heating; Radiant heating
• Interior features: Basement with dirt floor

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive. Per door: $198/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 12.5% vs local median 5.7% in Wilkes-Barre — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Wilkes-Barre Area SD (urban): math 19% / reading 32% proficiency, ranked #469 of 539 in PA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.8%/yr); 221 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $2,441/mo this rent would consume 52% of the median local household income ($56k/yr) (locally 1632% 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 $1k of loan paydown is wiped out by about $5k 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 + 6.8% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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 $125k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.04%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $139,374
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85 Blackman St	0.59mi	3/2.0 (-1)	1,580 (+1%)	19mo	$150,000	$95	50
8 10 Garber St	0.73mi	4/2.0	1,600 (+2%)	21mo	$143,000	$89	45
86 Lee Park Ave	0.45mi	4/2.0	1,800 (+15%)	15mo	$110,000	$61	41

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 · 6.84% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.21×
• Total profit: $9,397
• Equity at exit: $23,856

10-year hold

• IRR: 18.6%
• Equity multiple: 2.91×
• Total profit: $85,389
• Equity at exit: $13,834

Cash invested: $44,800 (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 18702

• Rents YoY: 6.8%
• Active inventory: 221
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,441 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $396

Break-even live

Break-even rent $1,940

Max offer price $159,999

Occupancy floor 79%

Sensitivity live

Price	-10% $507	-5% $451	+0% $396	+5% $341	+10% $286
Rent	-10% $203	-5% $300	+0% $396	+5% $493	+10% $589
Rate	-1.0pp $477	-0.5pp $437	base $396	+0.5pp $355	+1.0pp $312

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,440
Total (2 units)			$2,441

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Horton St Wilkes Barre, PA	3.0	1.5	1475	$1,575	$1.07	44d	1	0.04mi
27 Oak St Wilkes Barre, PA	3.0	1.5	1500	$1,700	$1.13	44d	1	0.21mi
284 Barney St Wilkes Barre, PA	3.0	1.0	1070	$1,600	$1.50	45d	1	0.21mi
342 Horton St Wilkes Barre, PA	3.0	1.5	1472	$1,650	$1.12	14d	1	0.24mi
100 Westminster St Wilkes Barre, PA	4.0	1.0	1150	$1,400	$1.22	14d	1	0.37mi
121 Oak St Unit 1 Wilkes-Barre, PA	3.0	1.0	1960	$1,550	$0.79	14d	1	0.38mi
26 Bradford St Wilkes Barre, PA	3.0	1.5	1056	$1,400	$1.33	14d	1	0.59mi
96 McLean St Wilkes-Barre Township, PA	3.0	1.0	1535	$1,550	$1.01	44d	1	0.65mi
104 Old River Rd Wilkes Barre, PA	3.0	1.5	1600	$1,800	$1.12	44d	1	0.70mi
6 Magnolia St Wilkes Barre, PA	3.0	2.5	1700	$1,450	$0.85	44d	1	0.87mi
239 Poplar St Wilkes Barre, PA	3.0	1.5	1100	$1,350	$1.23	44d	1	0.90mi
131 Academy St Wilkes Barre, PA	3.0	1.0	1300	$1,500	$1.15	44d	1	0.91mi
249 Parrish St Wilkes Barre, PA	5.0	2.0	2214	$2,000	$0.90	14d	1	0.96mi
155 W River St Wilkes Barre, PA	3.0	2.0	1100	$1,425	$1.30	44d	1	0.98mi
243 Stanton St Wilkes Barre, PA	3.0	1.0	2024	$1,450	$0.72	44d	1	1.05mi
243 Stanton St Wilkes Barre, PA	3.0	1.0	2024	$1,395	$0.69	14d	1	1.05mi
1259 Sively St Wilkes-Barre, PA	3.0	1.0	1232	$1,550	$1.26	44d	1	1.09mi
279 Hazle St Wilkes Barre, PA	5.0	1.0	1400	$1,400	$1.00	14d	1	1.11mi
233 Gilligan St Wilkes Barre, PA	3.0	1.0	1440	$1,600	$1.11	21d	1	1.13mi
202 S Nesbitt St Unit 206 B Larksville, PA	3.0	1.0	1100	$1,500	$1.36	44d	1	1.23mi
407 McLean St Wilkes Barre, PA	3.0	1.0	1482	$1,400	$0.94	14d	1	1.24mi
617 Fellows Ave Wilkes-Barre, PA	4.0	1.0	1100	$1,395	$1.27	14d	1	1.27mi
200 Gateway Dr Kingston, PA	1.0–3.0	1.0–2.0	1130	$3,219	$2.85	14d	1	1.43mi

Listing history 7 events

1. 2026-06-18
   days on market $159,999 Active 5 DOM
2. 2026-06-17
   days on market $159,999 Active 4 DOM
3. 2026-06-16
   days on market $159,999 Active 3 DOM
4. 2026-06-15
   remarks 391-char remark
5. 2026-06-15
   days on market $159,999 Active 2 DOM
6. 2026-06-14
   remarks 353-char remark
7. 2026-06-14
   listed $159,999 Active 1 DOM

ⓘ 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 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 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: $29,292
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$5,918
• − Repairs & maintenance: −$2,343
• − Management: −$2,343
• − Depreciation: −$4,655
• Taxable income: $2,670
• Est. tax owed @ 24.0%: −$641
• After-tax cash flow: $4,113/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: Wilkes-Barre Area SD
• NCES district ID: 4226300
• Math proficiency: 19% ▼ -2.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $37,420
• Composite: 21.22/100
• National rank: #8409
• State rank: #469 of 539 in PA

Livability — Wilkes-Barre

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wilkes-Barre, PA
• County: Luzerne County · 118,885 people
• City population: 73,981
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 41,970
• Household income: $56,378
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1632.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 25% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 6% Dominican 9%
• Common ancestry: Romanian 14% Scotch-Irish 2% Iranian 1%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 17% Other Asian/Pacific 1% Other Indo-European 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: ▼ -156.99%
• Current HPI: 216.9373
• Rent YoY: ▲ 6.84%
• 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

+435.1% since first listed

14 events — show timeline

• 2026-06-13 Listed $159,999 LCAR
• 2026-01-08 Listed for Rent $1,200 LCAR
• 2023-08-16 Sold (Public Records) $125,000 Public Records
• 2023-08-11 Sold (MLS) $125,000 LCAR
• 2023-07-01 Pending — LCAR
• 2023-06-25 Price Changed $133,000 LCAR
• 2023-06-14 Price Changed $135,000 LCAR
• 2023-06-06 Price Changed $138,000 LCAR
• 2023-05-25 Price Changed $140,000 LCAR
• 2023-05-15 Listed $145,000 LCAR
• 2020-06-05 Sold (Public Records) $25,500 Public Records
• 2020-05-28 Sold (MLS) $25,500 LCAR
• 2020-01-27 Listed $34,900 LCAR
• 2019-05-13 Listed $29,900 LCAR

Property tax history

+20.4%/yr

Latest (2026): $8,511 · +0.1% YoY. Source: county tax records.