28 Walnut St · Wilkes-Barre, PA 18702

$129,000

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 2 Days on market

Built 1900 2,178 sqft lot Est $146k · 12% under

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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 +23.3/30.0
• ARV discount +12.8/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

This charming 3 bed 1 bath Wilkes-Barre 2 Story is waiting for its next owner. Enjoy the covered front and back porches, a partially fenced in yard, eat-in kitchen, partially finished attic, and newer boiler! A great opportunity for homeowners or investors alike! Schedule your showing today!

Key facts

• Covered front porch
• Newer boiler
• Eat-in kitchen

Tags

• COVERED FRONT PORCH
• COVERED BACK PORCH
• PARTIALLY FENCED YARD
• EAT-IN KITCHEN
• PARTIALLY FINISHED ATTIC
• NEWER BOILER

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding
• Exterior features: Porch; Fenced yard; Shed(s); Cleared, level lot

Interior

• Kitchen: Electric water heater
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Hot water heating; Radiant heating; Ceiling fan(s)
• Interior features: Eat-in kitchen; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Cap rate 8.5% 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; 40 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).
• This rent runs 30% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.87%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $146,376
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Oregon St	0.26mi	3/1.5	1,408 (+3%)	7mo	$115,000	$82	75
58 Amherst Ave	0.53mi	3/1.0	1,360 (-1%)	3mo	$180,000	$132	72
40 Corlear St	0.46mi	3/1.5	1,282 (-6%)	2mo	$215,000	$168	65
45 Harkins Ln	0.58mi	3/1.0	1,332 (-3%)	6mo	$90,000	$68	64
20 Regent St	0.63mi	3/1.5	1,390 (+2%)	6mo	$165,000	$119	62
64 Prospect St	0.45mi	3/1.0	1,231 (-10%)	1mo	$123,000	$100	61
46 Birch St	0.50mi	3/1.5	1,464 (+7%)	7mo	$190,000	$130	57
131 Stanton St	0.48mi	3/1.0	1,200 (-12%)	0mo	$110,500	$92	57
849 Franklin St	0.66mi	3/1.5	1,300 (-5%)	6mo	$138,500	$107	54
29 Dodson Ln	0.59mi	3/1.0	1,232 (-10%)	6mo	$88,500	$72	51
188 Parrish St	0.63mi	3/2.0	1,254 (-8%)	6mo	$170,000	$136	48
127 Loomis St	0.75mi	2/2.0 (-1)	1,245 (-9%)	0mo	$124,000	$100	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: -3.0%
• Equity multiple: 0.88×
• Total profit: $-4,257
• Equity at exit: $19,234

10-year hold

• IRR: 10.8%
• Equity multiple: 2.00×
• Total profit: $35,977
• Equity at exit: $11,154

Cash invested: $36,120 (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: 221
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $170

Break-even live

Break-even rent $1,213

Max offer price $129,000

Occupancy floor 83%

Sensitivity live

Price	-10% $260	-5% $215	+0% $170	+5% $126	+10% $81
Rent	-10% $58	-5% $114	+0% $170	+5% $227	+10% $283
Rate	-1.0pp $235	-0.5pp $203	base $170	+0.5pp $137	+1.0pp $103

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 Sambourne St Wilkes Barre, PA	2.0	1.0	1000	$1,250	$1.25	22d	1	0.16mi
6 Magnolia St Wilkes Barre, PA	3.0	2.5	1700	$1,450	$0.85	45d	1	0.17mi
131 Academy St Wilkes Barre, PA	3.0	1.0	1300	$1,500	$1.15	45d	1	0.19mi
75 Wood St Wilkes Barre, PA	2.0	1.0	990	$1,300	$1.31	45d	1	0.21mi
403 S Franklin St Wilkes Barre, PA	2.0	1.0	900	$1,050	$1.17	22d	1	0.22mi
155 W River St Wilkes Barre, PA	3.0	2.0	1100	$1,425	$1.30	45d	1	0.27mi
26 Stanley St Wilkes Barre, PA	2.0	1.0	950	$1,650	$1.74	45d	1	0.30mi
34 Barney St Fl Right Wilkes-Barre, PA	2.0	1.0	1000	$1,195	$1.20	45d	1	0.33mi
159 New Mallery Pl Unit 2 Wilkes-Barre, PA	2.0	1.0	1020	$950	$0.93	45d	1	0.38mi
104 Old River Rd Wilkes Barre, PA	3.0	1.5	1600	$1,800	$1.12	45d	1	0.39mi
100 Westminster St Wilkes Barre, PA	4.0	1.0	1150	$1,400	$1.22	15d	1	0.42mi
100-102 Westminster St Wilkes-Barre, PA	2.0	1.0	1200	$1,150	$0.96	22d	1	0.43mi
100-102 Westminster St Wilkes-Barre, PA	2.0	1.0	1100	$1,150	$1.05	15d	1	0.43mi
86 Maffett St Wilkes-Barre, PA	2.0	1.0	1032	$1,300	$1.26	45d	1	0.58mi
75 Melrose Ave Apt 2 Wilkes-Barre, PA	2.0	1.0	1150	$1,250	$1.09	45d	1	0.60mi
26 Bradford St Wilkes Barre, PA	3.0	1.5	1056	$1,400	$1.33	15d	1	0.63mi
62 Hutson St Wilkes Barre, PA	2.0	1.0	1100	$1,150	$1.05	45d	1	0.69mi
216 Horton St Wilkes Barre, PA	3.0	1.5	1475	$1,575	$1.07	45d	1	0.69mi
96 McLean St Wilkes-Barre Township, PA	3.0	1.0	1535	$1,550	$1.01	45d	1	0.69mi
129 Carlisle St Wilkes Barre, PA	2.0	1.0	1005	$1,200	$1.19	15d	1	0.74mi
284 Barney St Wilkes Barre, PA	3.0	1.0	1070	$1,600	$1.50	45d	1	0.79mi
342 Horton St Wilkes Barre, PA	3.0	1.5	1472	$1,650	$1.12	15d	1	0.83mi
27 Oak St Wilkes Barre, PA	3.0	1.5	1500	$1,700	$1.13	45d	1	0.87mi
32 Murray St Unit 34 Wilkes-Barre, PA	3.0	1.0	930	$1,100	$1.18	22d	1	0.87mi
239 Poplar St Wilkes Barre, PA	3.0	1.5	1100	$1,350	$1.23	45d	1	0.88mi
38 W Market St Unit 3 Wilkes-Barre, PA	2.0	1.0	1388	$1,295	$0.93	15d	1	0.96mi
67-69 Public Sq #1203 Wilkes Barre, PA	2.0	1.0	875	$1,825	$2.09	45d	1	0.96mi
200 Gateway Dr Kingston, PA	1.0–3.0	1.0–2.0	1130	$3,219	$2.85	15d	1	0.96mi
67-69 Public Sq Wilkes-Barre, PA	2.0	1.0	910	$1,875	$2.06	45d	1	0.97mi
13 Woodbury St Hanover Township, PA	2.0	1.0	1000	$1,100	$1.10	45d	1	0.99mi
19 N River St Unit 308 Wilkes-Barre, PA	2.0	1.5	910	$1,600	$1.76	15d	1	1.00mi
51 S Welles St Wilkes Barre, PA	4.0	1.0	1344	$1,600	$1.19	45d	1	1.05mi
56 Kent Ln Wilkes Barre, PA	3.0	2.0	1542	$1,800	$1.17	45d	1	1.06mi
407 McLean St Wilkes Barre, PA	3.0	1.0	1482	$1,400	$0.94	15d	1	1.08mi
75 Oxford St Hanover Township, PA	2.0	1.0	900	$950	$1.06	15d	1	1.09mi
233 Gilligan St Wilkes Barre, PA	3.0	1.0	1440	$1,600	$1.11	22d	1	1.11mi
27 S Gates Ave Kingston, PA	3.0	2.0	1200	$1,750	$1.46	22d	1	1.12mi
68 Circle Dr Hanover Township, PA	3.0	1.5	950	$1,800	$1.89	15d	1	1.12mi
40 N Dawes Ave Kingston, PA	3.0	1.5	1450	$1,800	$1.24	22d	1	1.14mi
98 N Franklin St Unit 2 Wilkes-Barre, PA	2.0	2.0	1254	$1,650	$1.32	15d	1	1.15mi

Listing history 3 events

1. 2026-06-18
   days on market $129,000 Active 2 DOM
2. 2026-06-17
   remarks 292-char remark
3. 2026-06-17
   listed $129,000 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 X · 73% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 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: $17,139
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$1,442
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$3,753
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $2,035/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

1 event — show timeline

• 2026-06-17 Listed $129,000 LCAR

Property tax history

+20.4%/yr

Latest (2026): $8,710 · +0.1% YoY. Source: county tax records.