423 3rd St · Luzerne, PA 15413

$13,000

2 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 158 Days on market

Built 1920 5,645 sqft lot $10/sqft · 86% below area ↓ 41% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Opportunity awaits with this gutted-to-the-studs property, ready for your vision and finishing touches. Major improvements have already been completed, including a brand-new roof and a new electrical panel, providing a strong starting point for renovation. The interior has been fully stripped, allowing for a complete custom layout and design. This property is in need of tender loving care and is ideal for investors, contractors, or buyers looking to create a custom home from the ground up. Bring your plans and imagination to transform this blank canvas into something special. Property is being sold as-is. CASH ONLY

Key facts

• Custom layout
• Brand-new roof
• New electrical panel

Tags

• BRAND-NEW ROOF
• NEW ELECTRICAL PANEL
• CUSTOM LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $13k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $13k).
• Recommended offer: $11k (12.0% below list) — sets the bar for market timing.
• Cap rate 73.0% vs local median 6.1% in Luzerne — 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 76/100 on livability (#391 in PA, #3,538 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F, employment F.
• Brownsville Area SD (rural): math 17% / reading 34% proficiency, ranked #472 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Brownsville Area El Sch (math 16% / reading 37%, grade F, #1,169 of 1,518 statewide, top 77%, 700 students, 100% FRL); Brownsville Area Ms (math 7% / reading 32%, grade F, #444 of 512 statewide, top 87%, 352 students, 100% FRL); Brownsville Area Hs (math 64% / reading 24%, grade F, #196 of 437 statewide, top 47%, 434 students, 77% FRL) — zoned schools average 92% FRL vs 59% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $90 of loan paydown is wiped out by about $390 of value loss. Plan a longer hold.
• Fayette County population projected at -19% 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $11,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 8.25% ✓
• Cap rate: 72.97%
• Cash-on-cash: 238.14%
• DSCR: 11.60
• GRM: 1.0

CMA / ARV

• ARV (median comp): $91,761
• List price: $13,000
• Delta: -85.83%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 East Ave	0.11mi	3/1.0 (+1)	1,280 (-2%)	5mo	$25,000	$20	82
109 Creek Rd	0.26mi	2/1.0	1,152 (-12%)	15mo	$60,000	$52	55
205 Stone Church Rd	0.58mi	2/2.0	1,224 (-7%)	11mo	$149,900	$122	49
12 Circle	0.62mi	3/2.0 (+1)	1,450 (+10%)	1mo	$40,000	$28	44

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: —
• Equity multiple: 13.07×
• Total profit: $43,938
• Equity at exit: $1,938

10-year hold

• IRR: —
• Equity multiple: 27.83×
• Total profit: $97,655
• Equity at exit: $1,124

Cash invested: $3,640 (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 15413

• Home prices YoY: -3.1%
• Active inventory: 3
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$68
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $722

Break-even live

Break-even rent $158

Max offer price $13,000

Occupancy floor 28%

Sensitivity live

Price	-10% $766	-5% $726	+0% $722	+5% $719	+10% $715
Rent	-10% $638	-5% $680	+0% $722	+5% $765	+10% $807
Rate	-1.0pp $729	-0.5pp $726	base $722	+0.5pp $719	+1.0pp $716

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: $3,250
• Closing costs: $390
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $13,000 Active 158 DOM
2. 2026-06-21
   days on market $13,000 Active 157 DOM
3. 2026-06-18
   days on market $13,000 Active 155 DOM
4. 2026-06-17
   days on market $13,000 Active 154 DOM
5. 2026-06-16
   days on market $13,000 Active 153 DOM
6. 2026-06-15
   days on market $13,000 Active 152 DOM
7. 2026-06-13
   days on market $13,000 Active 150 DOM
8. 2026-06-12
   days on market $13,000 Active 149 DOM
9. 2026-06-09
   days on market $13,000 Active 146 DOM
10. 2026-06-08
    days on market $13,000 Active 145 DOM
11. 2026-06-08
    days on market $13,000 Active 144 DOM
12. 2026-06-04
    days on market $13,000 Active 140 DOM
13. 2026-06-02
    days on market $13,000 Active 139 DOM
14. 2026-06-01
    days on market $13,000 Active 138 DOM
15. 2026-05-31
    days on market $13,000 Active 137 DOM
16. 2026-05-13
    price $13,000 622-char remark

    Show marketing remark (622 chars)

    Opportunity awaits with this gutted-to-the-studs property, ready for your vision and finishing touches. Major improvements have already been completed, including a brand-new roof and a new electrical panel, providing a strong starting point for renovation. The interior has been fully stripped, allowing for a complete custom layout and design. This property is in need of tender loving care and is ideal for investors, contractors, or buyers looking to create a custom home from the ground up. Bring your plans and imagination to transform this blank canvas into something special. Property is being sold as-is. CASH ONLY

17. 2026-04-21
    price $15,000 622-char remark

    Show marketing remark (622 chars)

    Opportunity awaits with this gutted-to-the-studs property, ready for your vision and finishing touches. Major improvements have already been completed, including a brand-new roof and a new electrical panel, providing a strong starting point for renovation. The interior has been fully stripped, allowing for a complete custom layout and design. This property is in need of tender loving care and is ideal for investors, contractors, or buyers looking to create a custom home from the ground up. Bring your plans and imagination to transform this blank canvas into something special. Property is being sold as-is. CASH ONLY

18. 2026-01-14
    listed $17,500 Active 622-char remark

    Show marketing remark (622 chars)

    Opportunity awaits with this gutted-to-the-studs property, ready for your vision and finishing touches. Major improvements have already been completed, including a brand-new roof and a new electrical panel, providing a strong starting point for renovation. The interior has been fully stripped, allowing for a complete custom layout and design. This property is in need of tender loving care and is ideal for investors, contractors, or buyers looking to create a custom home from the ground up. Bring your plans and imagination to transform this blank canvas into something special. Property is being sold as-is. CASH ONLY

19. 2019-09-06
    soldstatus $22,000
20. 2001-08-08
    soldstatus $21,900

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $611 · $51/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,864
• − Mortgage interest: −$728
• − Property taxes: −$611
• − Insurance: −$65
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$378
• Taxable income: $9,023
• Est. tax owed @ 24.0%: −$2,166
• After-tax cash flow: $6,503/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: Brownsville Area SD
• NCES district ID: 4204080
• Math proficiency: 17% ▼ -3.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $34,500
• Composite: 20.93/100
• National rank: #8481
• State rank: #472 of 539 in PA

Livability — Luzerne

• Score: 76/100
• State rank: #391
• US rank: #3538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allison, PA
• City population: 2,959
• Population (ZIP): 456

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 127,561 people
• By 2030: 123,206 · -3.4%
• By 2040: 113,232 · -11.2%
• By 2050: 103,468 · -18.9%
• By 2075: 83,185 · -34.8%
• By 2100: 62,384 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 21% Black 5%
• Common ancestry: Romanian 30% Iranian 4%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+37.9) · D 30.8% · R 68.7%
• 2008→2024 swing: -37.5pp toward R · 2008: -0.4pp · 2024: -37.9pp
• All cycles: 2024: R+37.9 2020: R+33.5 2016: R+31.0 2012: R+8.3 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.97%
• Current HPI: 156.8482
• 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

-40.6% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $13,000 West Penn MLS
• 2026-04-21 Price Changed $15,000 West Penn MLS
• 2026-01-14 Listed $17,500 West Penn MLS
• 2019-09-06 Sold (Public Records) $22,000 Public Records
• 2001-08-08 Sold (Public Records) $21,900 Public Records

Property tax history

+3.2%/yr

Latest (2019): $611 · +0.0% YoY. Source: county tax records.