111 Old River Rd · Wilkes-Barre, PA 18702

$479,000

54 bd · 36.0 ba · 3,900 sqft · MultiFamily public records · 45 Days on market

Built 1930 6,098 sqft lot $123/sqft · 90% above area Est $395k · 21% 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 +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great investment opportunity. Property has a new roof, 1 yr old furnace, new concrete walkway and off street parking in the rear. Convenient location.

Key facts

• New concrete walkway
• Fully rented
• Off-street parking

Tags

• INVESTMENT OPPORTUNITY
• FULLY RENTED
• NEW ROOF
• NEW CONCRETE WALKWAY
• OFF-STREET PARKING
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Property classified as residential income (multi-family); Six total rental units; units are not furnished

Exterior

• Home design: Multi-family residential income property; Built in 1930
• Construction: Listed year built is 1930
• Exterior features: Lot dimensions approximately 42 x 140

Interior

• Kitchen: All units include a kitchen
• Bedrooms: Nine total bedrooms across all units (individual units range from one to two bedrooms)
• Bathrooms: Six full bathrooms
• Interior features: Residential income property configured as a multi-family building with six separate units

What this means for you Summary

Snapshot

• This is a 6 × 9-bed/6.0-bath units multifamily listed at $479k.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive. Per door: $747/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $479k).
• Recommended offer: $465k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 5.6% 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.
• Zoned schools: Dr David W Kistler El Sch (math 11% / reading 29%, grade F, #1,248 of 1,518 statewide, top 83%, 916 students, 100% FRL) — zoned schools average 100% FRL vs 61% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.8%/yr); 225 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 $134k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($465k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $140k; list at $479k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $464,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.06% ✓
• Cap rate: 17.51%
• Cash-on-cash: 40.08%
• DSCR: 2.78
• GRM: 4.0

CMA / ARV

• ARV (median comp): $394,505
• List price: $479,000
• Delta: 21.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.84% rent growth · sell at horizon

5-year hold

• IRR: 40.8%
• Equity multiple: 2.84×
• Total profit: $247,373
• Equity at exit: $71,420

10-year hold

• IRR: 48.8%
• Equity multiple: 6.66×
• Total profit: $759,085
• Equity at exit: $41,415

Cash invested: $134,120 (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: 225
• Price-to-rent: 24.3×

Monthly cashflow live

• Estimated rent: $9,860 medium
• Mortgage (P&I): −$2,512
• Tax est. 1.5%: −$599 /mo · $7,185/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,071
• Net cashflow: $4,479

Break-even live

Break-even rent $4,190

Max offer price $479,000

Occupancy floor 50%

Sensitivity live

Price	-10% $4,810	-5% $4,645	+0% $4,479	+5% $4,314	+10% $4,148
Rent	-10% $3,700	-5% $4,090	+0% $4,479	+5% $4,869	+10% $5,258
Rate	-1.0pp $4,720	-0.5pp $4,601	base $4,479	+0.5pp $4,355	+1.0pp $4,229

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

Units	Beds	Baths	Est. rent
▸ 6× units	9	6	$9,858
Total (6 units)			$9,860

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $479,000 Active 45 DOM
2. 2026-06-18
   days on market $479,000 Active 42 DOM
3. 2026-06-17
   days on market $479,000 Active 41 DOM
4. 2026-06-16
   days on market $479,000 Active 40 DOM
5. 2026-06-15
   days on market $479,000 Active 39 DOM
6. 2026-06-14
   days on market $479,000 Active 37 DOM
7. 2026-06-13
   days on market $479,000 Active 36 DOM
8. 2026-06-10
   days on market $479,000 Active 34 DOM
9. 2026-06-09
   days on market $479,000 Active 33 DOM
10. 2026-06-08
    days on market $479,000 Active 32 DOM
11. 2026-06-07
    days on market $479,000 Active 31 DOM
12. 2026-06-02
    days on market $479,000 Active 26 DOM
13. 2026-06-01
    pricedays on market $479,000 Active 25 DOM
14. 2026-05-31
    days on market $499,000 Active 24 DOM
15. 2026-05-30
    days on market $499,000 Active 23 DOM
16. 2026-05-07
    listed $499,000 Active 238-char remark
17. 2018-03-02
    soldstatus $140,000
18. 2018-02-28
    soldstatus $140,000 150-char remark

    Show marketing remark (150 chars)

    Great investment opportunity. Property has a new roof, 1 yr old furnace, new concrete walkway and off street parking in the rear. Convenient location.

19. 2017-08-17
    listed $165,000 150-char remark

    Show marketing remark (150 chars)

    Great investment opportunity. Property has a new roof, 1 yr old furnace, new concrete walkway and off street parking in the rear. Convenient location.

20. 2013-04-09
    soldstatus $115,000
21. 2008-04-18
    soldstatus $180,000
22. 2008-04-10
    soldstatus $180,000

    Show marketing remark (230 chars)

    PRICE REDUCED! 6 UNIT INVESTMENT PROPERTY. House is completly renovated. New stucco over the brick, new windows, doors and appliances. All apartments freshly painted, hardwood floor and new carpeting throughout. GREAT OPPORTUNITY

23. 2007-04-11
    listed $189,000

    Show marketing remark (230 chars)

    PRICE REDUCED! 6 UNIT INVESTMENT PROPERTY. House is completly renovated. New stucco over the brick, new windows, doors and appliances. All apartments freshly painted, hardwood floor and new carpeting throughout. GREAT OPPORTUNITY

24. 2006-01-05
    soldstatus $200,000
25. 2005-07-14
    soldstatus $95,000

ⓘ 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 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $118,320
• − Mortgage interest: −$26,831
• − Property taxes: −$7,185
• − Insurance: −$2,395
• − Repairs & maintenance: −$9,466
• − Management: −$9,466
• − Depreciation: −$13,935
• Taxable income: $49,043
• Est. tax owed @ 24.0%: −$11,770
• After-tax cash flow: $41,979/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

+404.2% since first listed

11 events — show timeline

• 2026-06-01 Price Changed $479,000 GSBR as distributed by MLS GRID
• 2026-05-07 Listed $499,000 GSBR as distributed by MLS GRID
• 2018-03-02 Sold (Public Records) $140,000 Public Records
• 2018-02-28 Sold (MLS) $140,000 LCAR
• 2017-08-17 Listed $165,000 LCAR
• 2013-04-09 Sold (Public Records) $115,000 Public Records
• 2008-04-18 Sold (Public Records) $180,000 Public Records
• 2008-04-10 Sold (MLS) $180,000 PMAR
• 2007-04-11 Listed $189,000 PMAR
• 2006-01-05 Sold (Public Records) $200,000 Public Records
• 2005-07-14 Sold (Public Records) $95,000 Public Records

Property tax history

+20.4%/yr

Latest (2026): $34,541 · +0.1% YoY. Source: county tax records.