86-86 1/2 Belmont St · Carbondale, PA 18407

$67,990

6 bd · 4.0 ba · 3,000 sqft · MultiFamily · 8 Days on market

Built 1920 Poor condition 8,712 sqft lot ↓ 1% since listing

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.0/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investor Opportunity | Priced to Sell | Low TaxesCalling all investors, contractors, and renovation alike. This unique property features two deeds on one lot and offers tremendous potential for the right buyer. With low property taxes and plenty of upside, this could be an excellent addition to an investment portfolio or renovation project. All measurements, dimensions, square footage, taxes, and information contained herein are deemed reliable but are not guaranteed and should be independently verified by buyers and their representatives. The home is in need of significant repairs and updates and is being sold as-is. Bring your vision and tools to restore this property to its full potentia

Key facts

• Two deeds on one lot
• Significant repairs
• Investment portfolio

Tags

• TWO DEEDS ON ONE LOT
• LOW PROPERTY TAXES
• SIGNIFICANT REPAIRS
• RENOVATION PROJECT
• INVESTMENT PORTFOLIO

Property features AI

Finance

• Financial info: Property listed as residential income (two-unit building)

Exterior

• Home design: Multi-family residential income property; Built in 1920; Approximately 3,000 above-grade finished living area
• Construction: Year built 1920
• Exterior features: Rectangular lot; Lot dimensions approximately 30 x 150 x 28 x 150

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: 6 total bedrooms (configured as two 3-bedroom units)
• Bathrooms: 4 full bathrooms
• Interior features: High ceilings; Unfinished basement with dirt floor

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $68k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $787/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $68k).
• Cap rate 34.1% vs local median 4.8% in Carbondale — 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 72/100 on livability (#648 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, schools D, employment D.
• Carbondale Area SD (suburban): math 15% / reading 33% proficiency, ranked #480 of 539 in PA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 110 active listings in the ZIP; 251 units permitted in Lackawanna County in 2024 (0 in 5+ unit buildings).
• At $2,588/mo this rent would consume 52% of the median local household income ($60k/yr) (locally 430% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lackawanna County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,990

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1920 — 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. 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. 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.
8. 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.
9. 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: 3.81% ✓
• Cap rate: 34.09%
• Cash-on-cash: 99.26%
• DSCR: 5.42
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $174,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23- 25 Richmond St	0.29mi	6/2.0	3,100 (+3%)	5mo	$180,000	$58	68
109 Salem Ave	0.42mi	5/2.5 (-1)	3,120 (+4%)	15mo	$205,000	$66	50
160 162 Salem Ave	0.52mi	6/3.0	2,640 (-12%)	10mo	$100,000	$38	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: 5.69×
• Total profit: $89,312
• Equity at exit: $10,138

10-year hold

• IRR: —
• Equity multiple: 11.88×
• Total profit: $207,071
• Equity at exit: $5,879

Cash invested: $19,037 (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 18407

• Home prices YoY: -29.8%
• Active inventory: 110
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,588 high
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $1,575

Break-even live

Break-even rent $595

Max offer price $67,990

Occupancy floor 34%

Sensitivity live

Price	-10% $1,622	-5% $1,598	+0% $1,575	+5% $1,551	+10% $1,528
Rent	-10% $1,370	-5% $1,472	+0% $1,575	+5% $1,677	+10% $1,779
Rate	-1.0pp $1,609	-0.5pp $1,592	base $1,575	+0.5pp $1,557	+1.0pp $1,539

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,588
Total (2 units)			$2,588

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: $16,998
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $67,990 Active 8 DOM
2. 2026-06-17
   days on market $67,990 Active 7 DOM
3. 2026-06-16
   days on market $67,990 Active 6 DOM
4. 2026-06-15
   days on market $67,990 Active 5 DOM
5. 2026-06-14
   days on market $67,990 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $67,990 Active 2 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,056
• − Mortgage interest: −$3,808
• − Property taxes: −$1,020
• − Insurance: −$340
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − Depreciation: −$1,978
• Taxable income: $18,941
• Est. tax owed @ 24.0%: −$4,546
• After-tax cash flow: $14,350/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates, including plumbing, drywall, and landscaping, to become move-in ready and increase its value.

Repairs flagged

• Major Exposed plumbing in kitchen — Needs immediate repair to prevent water damage
• Major Exposed plumbing in bathrooms — Needs immediate repair to prevent water damage
• Major Exposed drywall in interior walls — Needs repair to prevent further damage
• Major Exposed subfloor in kitchen and bathrooms — Needs repair to prevent further damage
• Major Exposed frames in windows — Needs repair to prevent further damage

Value-add opportunities

• Both Landscaping and curb appeal — Improves property's visual appeal and can increase both resale and rental value
• Both Kitchen and bathroom plumbing repairs — Essential for functionality and safety, and can increase both resale and rental value
• Both Interior wall repairs — Improves the home's appearance and can increase both resale and rental value
• Both Subfloor repairs — Prevents further damage and improves the home's appearance, increasing both resale and rental value
• Both Window frame repairs — Improves the home's appearance and can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed plumbing in kitchen · Needs immediate repair to prevent water damage	Major	$15,000–50,000
Exposed plumbing in bathrooms · Needs immediate repair to prevent water damage	Major	$15,000–50,000
Exposed drywall in interior walls · Needs repair to prevent further damage	Major	$15,000–50,000
Exposed subfloor in kitchen and bathrooms · Needs repair to prevent further damage	Major	$15,000–50,000
Exposed frames in windows · Needs repair to prevent further damage	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Landscaping and curb appeal — Improves property's visual appeal and can increase both resale and rental value ↑
• Both Kitchen and bathroom plumbing repairs — Essential for functionality and safety, and can increase both resale and rental value ↑
• Both Interior wall repairs — Improves the home's appearance and can increase both resale and rental value ↑
• Both Subfloor repairs — Prevents further damage and improves the home's appearance, increasing both resale and rental value ↑
• Both Window frame repairs — Improves the home's appearance and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Carbondale Area SD
• NCES district ID: 4204980
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 33% ▼ -23.00%
• Median HH income: $35,070
• Composite: 19.73/100
• National rank: #8714
• State rank: #480 of 539 in PA

Livability — Carbondale

• Score: 72/100
• State rank: #648
• US rank: #6298

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carbondale, PA
• County: Lackawanna County · 134,448 people
• City population: 14,445
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 14,445
• Household income: $59,652
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 430.0

Population outlook (Lackawanna County) Hauer SSP2

• Today (2025): 210,652 people
• By 2030: 208,623 · -1.0%
• By 2040: 203,980 · -3.2%
• By 2050: 201,069 · -4.5%
• By 2075: 205,026 · -2.7%
• By 2100: 210,851 · +0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 6% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 11% Scotch-Irish 3% Subsaharan African 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Lackawanna

• 2024 margin: Toss-up / Even · D 51.0% · R 48.3%
• 2008→2024 swing: -23.2pp toward R · 2008: 26.0pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+8.4 2016: D+3.4 2012: D+27.4 2008: D+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.46%
• Current HPI: 140.1227
• 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

-1.5% since first listed

2 events — show timeline

• 2026-06-10 Listed $67,990 GSBR as distributed by MLS GRID
• 2026-02-28 Listed $69,000 GSBR as distributed by MLS GRID