37 Spring St · Wilkes-Barre, PA 18706

$139,900

3 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 15 Days on market

Built 1940 6,307 sqft lot $97/sqft · 22% below area Est $161k · 13% 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 +23.0/30.0
• ARV discount +13.4/15.0
• DSCR +7.4/10.0
• 1% rule +5.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Come check out this great property priced to sell quick ! Wont last long

Key facts

• 6,307 sq ft lot
• Listed 15 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Aluminum siding
• Exterior features: Cleared lot

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Electric baseboard heating; Has heating
• Interior features: Dining room fireplace; Nine total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• Hanover Area SD (suburban): math 19% / reading 25% proficiency, ranked #484 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 81 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 31% of the median local income ($59k/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 $967 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.60%
• DSCR: 1.34
• GRM: 7.8

CMA / ARV

• ARV (median comp): $160,853
• List price: $139,900
• Delta: -13.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Poplar St	0.31mi	3/1.0	1,476 (+2%)	1mo	$220,000	$149	78
85 Brown St	0.31mi	3/1.0	1,422 (-1%)	4mo	$140,000	$98	78
323 Andover St	0.19mi	4/1.0 (+1)	1,472 (+2%)	3mo	$152,000	$103	78
287 Andover St	0.24mi	3/2.0	1,312 (-9%)	2mo	$120,000	$91	71
421 Andover St	0.14mi	3/1.0	1,616 (+12%)	1mo	$175,000	$108	70
382 Parrish St	0.47mi	3/2.0	1,520 (+6%)	0mo	$175,000	$115	67
82 Newport St	0.37mi	3/2.0	1,600 (+11%)	1mo	$265,000	$166	61
17 Manhattan St	0.42mi	3/1.5	1,256 (-13%)	1mo	$154,000	$123	58
216 Jones St	0.55mi	3/2.5	1,570 (+9%)	3mo	$205,000	$131	53
21 W Hartford St	0.48mi	3/1.0	1,258 (-13%)	3mo	$123,600	$98	52
127 Loomis St	0.50mi	2/2.0 (-1)	1,245 (-14%)	0mo	$124,000	$100	47
62 Jones St	0.61mi	3/2.0	1,655 (+15%)	4mo	$110,000	$66	42

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-6,859
• Equity at exit: $20,860

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $14,384
• Equity at exit: $12,096

Cash invested: $39,172 (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 18706

• Active inventory: 81
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,491 high
• Mortgage (P&I): −$734
• Tax from tax record: −$137 /mo · $1,650/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $248

Break-even live

Break-even rent $1,176

Max offer price $139,900

Occupancy floor 78%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
233 Gilligan St Wilkes Barre, PA	3.0	1.0	1440	$1,600	$1.11	21d	1	0.09mi
407 McLean St Wilkes Barre, PA	3.0	1.0	1482	$1,400	$0.94	13d	1	0.28mi
239 Poplar St Wilkes Barre, PA	3.0	1.5	1100	$1,350	$1.23	44d	1	0.30mi
100 E Newport St Hanover Township, PA	2.0	1.5	1344	$1,250	$0.93	44d	1	0.39mi
134 Nicholson St Wilkes Barre, PA	4.0	1.0	1200	$1,600	$1.33	21d	1	0.47mi
134 Nicholson St Unit 3 Wilkes-Barre Township, PA	4.0	1.0	1200	$1,500	$1.25	13d	1	0.47mi
44 Eagle Ct Wilkes Barre, PA	1.0–3.0	1.0–1.5	910	$1,999	$2.20	13d	5	0.49mi
96 McLean St Wilkes-Barre Township, PA	3.0	1.0	1535	$1,550	$1.01	44d	1	0.54mi
32 Murray St Unit 34 Wilkes-Barre, PA	3.0	1.0	930	$1,100	$1.18	21d	1	0.59mi
26 Bradford St Wilkes Barre, PA	3.0	1.5	1056	$1,400	$1.33	13d	1	0.62mi
68 Circle Dr Hanover Township, PA	3.0	1.5	950	$1,800	$1.89	13d	1	0.78mi
109 Barnes St Unit C Ashley, PA	2.0	1.0	925	$1,045	$1.13	21d	1	0.84mi
62 Hutson St Wilkes Barre, PA	2.0	1.0	1100	$1,150	$1.05	44d	1	0.93mi
100-102 Westminster St Wilkes-Barre, PA	2.0	1.0	1200	$1,150	$0.96	21d	1	0.95mi
100-102 Westminster St Wilkes-Barre, PA	2.0	1.0	1100	$1,150	$1.05	13d	1	0.95mi
100 Westminster St Wilkes Barre, PA	4.0	1.0	1150	$1,400	$1.22	13d	1	0.95mi
284 Barney St Wilkes Barre, PA	3.0	1.0	1070	$1,600	$1.50	44d	1	0.97mi
56 Kent Ln Wilkes Barre, PA	3.0	2.0	1542	$1,800	$1.17	44d	1	1.00mi
75 Wood St Wilkes Barre, PA	2.0	1.0	990	$1,300	$1.31	44d	1	1.03mi
132 Sambourne St Wilkes Barre, PA	2.0	1.0	1000	$1,250	$1.25	21d	1	1.04mi
34 Barney St Fl Right Wilkes-Barre, PA	2.0	1.0	1000	$1,195	$1.20	44d	1	1.10mi
75 Oxford St Hanover Township, PA	2.0	1.0	900	$950	$1.06	13d	1	1.14mi
13 Woodbury St Hanover Township, PA	2.0	1.0	1000	$1,100	$1.10	44d	1	1.15mi
129 Carlisle St Wilkes Barre, PA	2.0	1.0	1005	$1,200	$1.19	13d	1	1.15mi
216 Horton St Wilkes Barre, PA	3.0	1.5	1475	$1,575	$1.07	44d	1	1.16mi
403 S Franklin St Wilkes Barre, PA	2.0	1.0	900	$1,050	$1.17	21d	1	1.22mi
131 Academy St Wilkes Barre, PA	3.0	1.0	1300	$1,500	$1.15	44d	1	1.32mi
6 Magnolia St Wilkes Barre, PA	3.0	2.5	1700	$1,450	$0.85	44d	1	1.33mi
27 Oak St Wilkes Barre, PA	3.0	1.5	1500	$1,700	$1.13	44d	1	1.36mi
155 W River St Wilkes Barre, PA	3.0	2.0	1100	$1,425	$1.30	44d	1	1.40mi
342 Horton St Wilkes Barre, PA	3.0	1.5	1472	$1,650	$1.12	13d	1	1.40mi
1259 Sively St Wilkes-Barre, PA	3.0	1.0	1232	$1,550	$1.26	44d	1	1.43mi
26 Stanley St Wilkes Barre, PA	2.0	1.0	950	$1,650	$1.74	44d	1	1.47mi
104 Old River Rd Wilkes Barre, PA	3.0	1.5	1600	$1,800	$1.12	44d	1	1.49mi

Listing history 3 events

1. 2026-05-15
   status Active 72-char remark
2. 2026-05-12
   status Pending 72-char remark
3. 2026-05-10
   listed $139,900 Active 72-char remark

ⓘ 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: $1,650 · $137/mo
• Projected year-2 tax: $1,930 · $161/mo
• Expected delta: +$280/yr (+$23/mo · 17.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $17,889
• − Mortgage interest: −$7,837
• − Property taxes: −$1,650
• − Insurance: −$700
• − Repairs & maintenance: −$1,431
• − Management: −$1,431
• − Depreciation: −$4,070
• Taxable income: $771
• Est. tax owed @ 24.0%: −$185
• After-tax cash flow: $2,794/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: Hanover Area SD
• NCES district ID: 4211420
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 25% ▼ -21.00%
• Median HH income: $40,015
• Composite: 18.6/100
• National rank: #8903
• State rank: #484 of 539 in PA

Livability — Wilkes-Barre

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Luzerne County · 118,885 people
• City population: 73,981
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 16,387
• Household income: $58,558
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 568.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 11% Black 3%
• Hispanic origin (detail): Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 18% Scotch-Irish 3% Subsaharan African 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Asian/Pacific 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: ▼ -150.02%
• Current HPI: 196.19
• Rent YoY: —
• 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

4 events — show timeline

• 2026-05-28 Pending — LCAR
• 2026-05-15 Relisted — LCAR
• 2026-05-12 Pending — LCAR
• 2026-05-10 Listed $139,900 LCAR

Property tax history

+0.8%/yr

Latest (2026): $1,650 · +0.3% YoY. Source: county tax records.