38 Sheridan St · Wilkes-Barre, PA 18702

$120,000

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 31 Days on market

Built 1923 $129/sqft · at area comps Est $123k · at est. ↓ 11% since listing

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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 +19.8/30.0
• ARV discount +8.6/15.0
• DSCR +6.3/10.0
• 1% rule +5.2/10.0
• 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 well-kept 2-bedroom, 1-bath home in Wilkes-Barre offers comfort, convenience, and solid rental potential. Currently used as a rental property, it provides an excellent opportunity for investors or for buyers looking for an affordable primary residence. Inside, you'll find a bright living space, an efficient kitchen with plenty of storage, and two comfortable bedrooms. The bathroom has

Key facts

• Built 1923
• Listed 31 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; Two levels
• Construction: Vinyl siding
• Exterior features: Porch; Cleared lot

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total of 5 rooms (includes sleeping areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Steam heating; Ceiling fan(s) for cooling; Has central cooling
• Interior features: Eat-in kitchen; Full unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.02% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $122,989
• List price: $120,000
• Delta: -2.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Joseph Ln	0.05mi	3/1.5 (+1)	1,000 (+8%)	3mo	$135,000	$135	75
233 Augusta St	0.54mi	2/1.0	986 (+6%)	10mo	$185,000	$188	56
218 Moyallen St	0.75mi	3/1.0 (+1)	940 (+1%)	6mo	$120,000	$128	53
412 Grant St	0.58mi	3/2.0 (+1)	882 (-5%)	7mo	$115,000	$130	50
253 Meade St	0.26mi	2/1.5	814 (-12%)	20mo	$177,000	$217	49
305 Sheridan St	0.51mi	2/1.0	850 (-8%)	18mo	$105,000	$124	47
69 Hutson St	0.66mi	2/1.0	1,044 (+12%)	8mo	$125,000	$120	42
664 Pine St	0.46mi	2/1.0	1,058 (+14%)	17mo	$190,000	$180	41
220 Noble Ln	0.62mi	2/1.0	1,052 (+13%)	10mo	$90,000	$86	41
73 Leslie St	0.71mi	3/1.0 (+1)	1,007 (+8%)	16mo	$100,000	$99	34
204 Noble Ln	0.60mi	3/1.5 (+1)	1,052 (+13%)	16mo	$173,000	$164	29

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,455
• Equity at exit: $17,892

10-year hold

• IRR: 9.5%
• Equity multiple: 1.86×
• Total profit: $28,875
• Equity at exit: $10,375

Cash invested: $33,600 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,229 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $142

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 83%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 Sheridan St Wilkes-Barre, PA	2.0	1.0	650	$1,200	$1.85	43d	1	0.08mi
83 S Empire St Unit 2 Wilkes-Barre, PA	1.0	1.0	600	$850	$1.42	13d	1	0.14mi
83 S Empire St Unit 1 Wilkes-Barre, PA	1.0	1.0	900	$850	$0.94	21d	1	0.14mi
178 S Sherman St Wilkes Barre, PA	3.0	1.0	670	$1,500	$2.24	21d	1	0.19mi
178 S Sherman St Unit 1 Wilkes-Barre, PA	3.0	1.0	670	$1,500	$2.24	43d	1	0.19mi
2 S Empire St Unit 2R Wilkes-Barre, PA	2.0	1.0	850	$1,250	$1.47	21d	1	0.29mi
703 E Northampton St Wilkes Barre, PA	1.0	1.0	600	$825	$1.38	43d	1	0.53mi
62 Hutson St Unit 1 Wilkes-Barre, PA	2.0	1.0	730	$1,250	$1.71	13d	1	0.63mi
62 Hutson St Wilkes Barre, PA	2.0	1.0	1100	$1,150	$1.05	43d	1	0.63mi
32 Murray St Unit 34 Wilkes-Barre, PA	3.0	1.0	930	$1,100	$1.18	21d	1	0.81mi
67-69 Public Sq #1203 Wilkes Barre, PA	2.0	1.0	875	$1,825	$2.09	43d	1	0.83mi
273 New Hancock St Apt 3 Wilkes-Barre, PA	1.0	1.0	625	$1,125	$1.80	43d	1	0.83mi
67-69 Public Sq Wilkes-Barre, PA	2.0	1.0	910	$1,875	$2.06	43d	1	0.83mi
273 New Hancock St Unit 2 Wilkes-Barre, PA	2.0	1.0	725	$1,300	$1.79	21d	1	0.83mi
2 N Diamond St Wilkes-Barre, PA	3.0	1.0	1000	$1,500	$1.50	21d	1	0.89mi
150 S Franklin St Wilkes Barre, PA	2.0	1.0	850	$1,750	$2.06	43d	1	0.92mi
30 Chapel St Wilkes Barre, PA	1.0	1.0	700	$1,150	$1.64	21d	1	0.98mi
268 N Pennsylvania Ave Unit 2 Wilkes-Barre, PA	3.0	1.0	758	$1,300	$1.72	21d	1	1.00mi
261 N Washington St Wilkes Barre, PA	3.0	1.0	1050	$1,400	$1.33	43d	1	1.04mi
19 N River St Unit 403 Wilkes-Barre, PA	2.0	1.0	723	$1,600	$2.21	13d	1	1.05mi
19 N River St Unit 308 Wilkes-Barre, PA	2.0	1.5	910	$1,600	$1.76	13d	1	1.05mi
403 S Franklin St Wilkes Barre, PA	2.0	1.0	900	$1,050	$1.17	21d	1	1.08mi
366 S River St Apt 3 Wilkes-Barre, PA	1.0	1.0	1000	$975	$0.97	21d	1	1.12mi
132 Sambourne St Wilkes Barre, PA	2.0	1.0	1000	$1,250	$1.25	21d	1	1.13mi
168-170 Kidder St Wilkes-Barre, PA	2.0	1.0	750	$1,250	$1.67	21d	1	1.17mi
44 Eagle Ct Wilkes Barre, PA	1.0–3.0	1.0–1.5	910	$1,722	$1.89	13d	5	1.18mi
168 Kidder St City of Wilkes Barre, PA	2.0	1.0	750	$1,250	$1.67	21d	1	1.18mi
301 N Main St Unit 2 Wilkes-Barre, PA	3.0	1.0	1050	$1,300	$1.24	21d	1	1.20mi
155 W River St Wilkes Barre, PA	3.0	2.0	1100	$1,425	$1.30	43d	1	1.21mi
239 Poplar St Wilkes Barre, PA	3.0	1.5	1100	$1,350	$1.23	43d	1	1.30mi
402 Scott St Fl 3 Wilkes-Barre, PA	2.0	1.0	761	$950	$1.25	43d	1	1.30mi
30 Elizabeth St Wilkes Barre, PA	1.0	1.0	650	$900	$1.38	43d	1	1.31mi
423 Scott St Apt 1 Wilkes-Barre, PA	3.0	1.0	1100	$1,450	$1.32	43d	1	1.33mi
26 Stanley St Wilkes Barre, PA	2.0	1.0	950	$1,650	$1.74	43d	1	1.34mi
75 Wood St Wilkes Barre, PA	2.0	1.0	990	$1,300	$1.31	43d	1	1.36mi
26 Bradford St Wilkes Barre, PA	3.0	1.5	1056	$1,400	$1.33	13d	1	1.40mi
100 Parkway Blvd Kingston, PA	2.0	1.0	650	$1,400	$2.15	13d	1	1.46mi
780 Hazle St Unit Rear 2nd Fl Ashley, PA	2.0	1.0	850	$975	$1.15	13d	1	1.48mi

Listing history 14 events

1. 2026-06-15
   status $120,000 Pending 31 DOM
2. 2026-06-15
   days on market $120,000 Active 31 DOM
3. 2026-06-14
   days on market $120,000 Active 29 DOM
4. 2026-06-13
   days on market $120,000 Active 28 DOM
5. 2026-06-10
   days on market $120,000 Active 26 DOM
6. 2026-06-09
   days on market $120,000 Active 25 DOM
7. 2026-06-08
   days on market $120,000 Active 24 DOM
8. 2026-06-07
   days on market $120,000 Active 23 DOM
9. 2026-06-03
   price $120,000 Active 18 DOM
10. 2026-06-02
    days on market $135,000 Active 18 DOM
11. 2026-06-01
    days on market $135,000 Active 17 DOM
12. 2026-05-31
    days on market $135,000 Active 16 DOM
13. 2026-05-30
    days on market $135,000 Active 15 DOM
14. 2026-05-15
    listed $135,000 Active 392-char remark

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $14,753
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,491
• Taxable loss: −$221
• Est. tax savings @ 24.0%: +$53
• After-tax cash flow: $1,756/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

-11.1% since first listed

3 events — show timeline

• 2026-06-15 Pending — LCAR
• 2026-06-02 Price Changed $120,000 LCAR
• 2026-05-15 Listed $135,000 LCAR

Property tax history

+20.4%/yr

Latest (2026): $7,397 · +0.1% YoY. Source: county tax records.