326-328 Washington St. St · Freeland, PA 18224

$159,900

6 bd · 16.0 ba · 3,200 sqft · MultiFamily · 35 Days on market

Poor condition 9,750 sqft lot $50/sqft · 26% below area Est $217k · 26% under ↓ 9% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.0/10.0
• Condition / age +1.0/5.0

Multi-family units

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

Listing remarks

This double home is perfect for investor who is handy. Needs lots of TLC. Home has 3 bedrooms on each side and attic. 326 is vacant and 328 is tenant occupied requires 24 hour notice and showings 4pm or later. Pets present in home. 5 car garage is in poor condition. No FHA, Va or Conventional offers, cash offers only.

Key facts

• 9,750 sq ft lot
• 5 garage spots
• Listed 34 days

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached garage; On-street parking; Garage with 5 spaces
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property
• Construction: Asbestos construction material
• Exterior features: Residential zoning; Lot approximately 75x130

Interior

• Heating & cooling: Oil heating; Baseboard heat
• Interior features: Basement present

🏷️ Possibly a rental listed for sale. The $159,900 price doesn't fit this home's estimated sale value (~$217,447) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $160k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $593/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 6.3% in Freeland — 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 61/100 on livability (#1,409 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: schools F, amenities F, commute F.
• Hazleton Area SD (suburban): math 18% / reading 30% proficiency, ranked #476 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.81% ✓
• Cap rate: 15.19%
• Cash-on-cash: 31.79%
• DSCR: 2.41
• GRM: 4.6

CMA / ARV

• ARV (median comp): $217,447
• List price: $159,900
• Delta: -26.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
548 550 South St	0.16mi	6/16.0	2,917 (-9%)	19mo	$195,000	$67	62
828 830 Front St	0.29mi	5/4.0 (-1)	3,136 (-2%)	5mo	$290,000	$92	59
606 608 Walnut St	0.33mi	6/2.0	2,850 (-11%)	1mo	$290,000	$102	45
454 456 Fern St	0.22mi	6/2.0	2,819 (-12%)	8mo	$210,000	$74	43
1048 Birkbeck St	0.57mi	6/4.0	3,312 (+4%)	12mo	$235,000	$71	38
516 518 Vine St	0.30mi	6/3.0	3,618 (+13%)	14mo	$295,000	$82	32
605 607 Fern St	0.27mi	6/2.0	2,876 (-10%)	22mo	$190,000	$66	32
928 930 Washington St	0.45mi	7/114.0 (+1)	2,856 (-11%)	11mo	$305,000	$107	32
946 948 Ridge St	0.49mi	6/4.0	3,564 (+11%)	10mo	$287,000	$81	30
1008 Schwabe St	0.73mi	7/4.0 (+1)	3,609 (+13%)	3mo	$277,000	$77	22

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

Projected returns pro-forma

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

5-year hold

• IRR: 48.5%
• Equity multiple: 4.63×
• Total profit: $162,664
• Equity at exit: $144,051

10-year hold

• IRR: 42.3%
• Equity multiple: 10.37×
• Total profit: $419,707
• Equity at exit: $310,651

Cash invested: $44,772 (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 18224

• Home prices YoY: 9.2%
• Active inventory: 43
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $1,186

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,900
Total (2 units)			$2,900

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $159,900 Active 35 DOM
2. 2026-06-18
   days on market $159,900 Active 34 DOM
3. 2026-06-17
   days on market $159,900 Active 33 DOM
4. 2026-06-16
   days on market $159,900 Active 32 DOM
5. 2026-06-15
   days on market $159,900 Active 31 DOM
6. 2026-06-14
   days on market $159,900 Active 29 DOM
7. 2026-06-12
   days on market $159,900 Active 28 DOM
8. 2026-06-09
   days on market $159,900 Active 25 DOM
9. 2026-06-08
   days on market $159,900 Active 24 DOM
10. 2026-06-07
    days on market $159,900 Active 23 DOM
11. 2026-06-02
    days on market $159,900 Active 18 DOM
12. 2026-06-01
    days on market $159,900 Active 17 DOM
13. 2026-05-31
    days on market $159,900 Active 16 DOM
14. 2026-05-30
    days on market $159,900 Active 15 DOM
15. 2026-05-15
    listed $159,900 Active 319-char remark
16. 2024-12-04
    price $175,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $34,800
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$4,652
• Taxable income: $12,425
• Est. tax owed @ 24.0%: −$2,982
• After-tax cash flow: $11,249/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 · 9 photos

Poor 20/100 Extensive rehab

This double home requires extensive renovations and repairs to become move-in ready. Significant updates to the kitchen, bathrooms, roof, exterior, and HVAC system will greatly increase its resale and rental value.

Repairs flagged

• Major kitchen appliances — outdated and non-functional
• Major bathroom fixtures — dark and outdated
• Major roof — visible wear and tear
• Major exterior siding — weathered and peeling
• Major windows — broken or missing
• Major HVAC system — outdated and possibly non-functional
• Major landscaping — overgrown and unkempt

Value-add opportunities

• Both extensive kitchen renovation — modern kitchen will attract both buyers and renters
• Both bathroom renovation — modern bathrooms will attract both buyers and renters
• Both roof replacement — new roof will increase property value and attract buyers
• Both exterior siding and landscaping — new siding and landscaping will improve curb appeal and attract buyers
• Both HVAC system replacement — modern HVAC system will attract buyers and renters
• Both paint interior walls — fresh paint will improve interior appearance and attract buyers
• Both replace flooring — new flooring will improve interior appearance and attract buyers
• Both repair foundation — repairing foundation will improve structural integrity and attract buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and non-functional	Major	$15,000–50,000
bathroom fixtures · dark and outdated	Major	$15,000–50,000
roof · visible wear and tear	Major	$15,000–50,000
exterior siding · weathered and peeling	Major	$15,000–50,000
windows · broken or missing	Major	$15,000–50,000
HVAC system · outdated and possibly non-functional	Major	$15,000–50,000
landscaping · overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both extensive kitchen renovation — modern kitchen will attract both buyers and renters ↑
• Both bathroom renovation — modern bathrooms will attract both buyers and renters ↑
• Both roof replacement — new roof will increase property value and attract buyers ↑
• Both exterior siding and landscaping — new siding and landscaping will improve curb appeal and attract buyers ↑
• Both HVAC system replacement — modern HVAC system will attract buyers and renters ↑
• Both paint interior walls — fresh paint will improve interior appearance and attract buyers ↑
• Both replace flooring — new flooring will improve interior appearance and attract buyers ↑
• Both repair foundation — repairing foundation will improve structural integrity and attract buyers ↑

ⓘ 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: Hazleton Area SD
• NCES district ID: 4211700
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $42,247
• Composite: 20.44/100
• National rank: #8582
• State rank: #476 of 539 in PA

Livability — Freeland

• Score: 61/100
• State rank: #1409
• US rank: #17813

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeland, PA
• City population: 5,954
• Population (ZIP): 5,954

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 8% Dominican 3%
• Common ancestry: Romanian 13% Scotch-Irish 4% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 87% English-only · Spanish 10% Russian/Polish/Slavic 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: ▲ 22.89%
• Current HPI: 270.8055
• 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

-8.6% since first listed

2 events — show timeline

• 2026-05-15 Listed $159,900 LCAR
• 2024-12-04 Price Changed $175,000 LCAR