429 Melrose Ave · Clarks Summit, PA 18411

$259,500

4 bd · 3.0 ba · 2,293 sqft · SingleFamily · 41 Days on market

Built 1950 7,405 sqft lot $113/sqft · 22% below area Est $334k · 22% 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• Schools +5.4/10.0
• DSCR +4.5/10.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

Key facts

• New gutters
• Fenced in back yard
• Single-family home

Tags

• DUPLEX
• SINGLE-FAMILY HOME
• APARTMENT IN-LAW SUITE
• FENCED IN BACK YARD
• REMODELED ONE BEDROOM
• NEW GUTTERS

🏷️ Possibly a rental listed for sale. The $259,500 price doesn't fit this home's estimated sale value (~$334,128) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $64 ($771/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (9.4% below list).
• Recommended offer: $235k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.2% in Clarks Summit — 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 83/100 on livability (#118 in PA, #913 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Abington Heights SD (rural): math 50% / reading 73% proficiency, ranked #56 of 539 in PA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 126 active listings in the ZIP; solid renter incomes; 251 units permitted in Lackawanna County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $126k; list at $260k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,142 (9.4% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $334,128
• List price: $259,500
• Delta: -22.34%
• 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
615 Oak Ln	0.30mi	4/2.0	2,197 (-4%)	2mo	$367,300	$167	73
610 Oak Ln	0.30mi	4/2.5	2,100 (-8%)	11mo	$350,000	$167	61
1012 Westwood Dr	0.42mi	4/2.5	2,122 (-8%)	8mo	$414,000	$195	60
101 Carriage Ln	0.71mi	4/3.0	2,397 (+4%)	4mo	$335,000	$140	56
604 Oak Ln	0.26mi	4/2.0	1,960 (-14%)	6mo	$367,105	$187	55
98 Electric St Unit L 1	0.29mi	4/2.5	2,000 (-13%)	11mo	$450,000	$225	54
415 Clark Ave	0.61mi	3/2.5 (-1)	2,159 (-6%)	9mo	$446,000	$207	47
123 N State St	0.44mi	3/2.0 (-1)	2,016 (-12%)	5mo	$310,000	$154	46
429 Clark Ave	0.67mi	4/2.0	2,568 (+12%)	0mo	$310,000	$121	44
929 Winola Rd	0.56mi	3/3.0 (-1)	2,571 (+12%)	7mo	$575,000	$224	43
510 Powell Ave	0.53mi	5/2.0 (+1)	2,035 (-11%)	8mo	$315,000	$155	41
102 Gentilly Dr	0.55mi	3/2.0 (-1)	2,002 (-13%)	10mo	$350,000	$175	36

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-37,921
• Equity at exit: $38,692

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-27,605
• Equity at exit: $22,437

Cash invested: $72,660 (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 18411

• Active inventory: 126
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,351 medium
• Mortgage (P&I): −$1,361
• Tax est. 1.5%: −$324 /mo · $3,892/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $64

Break-even live

Break-even rent $2,270

Max offer price $259,500

Occupancy floor 92%

Sensitivity live

Price	-10% $244	-5% $154	+0% $64	+5% $-25	+10% $-115
Rent	-10% $-121	-5% $-29	+0% $64	+5% $157	+10% $250
Rate	-1.0pp $195	-0.5pp $130	base $64	+0.5pp $-3	+1.0pp $-71

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: $64,875
• Closing costs: $7,785
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-14
   price $259,500 1122-char remark

   Show marketing remark (1122 chars)

   * * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

2. 2026-05-05
   price $269,500 1122-char remark

   Show marketing remark (1122 chars)

   * * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

3. 2026-04-10
   listed $279,500 Active 1122-char remark

   Show marketing remark (1122 chars)

   * * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

4. 2021-07-02
   soldstatus $125,700
5. 2021-06-30
   soldstatus $125,700
6. 2021-06-30
   soldstatus $125,700
7. 2021-05-14
   listed $99,900
8. 2016-04-15
   soldstatus $60,500
9. 2016-04-13
   soldstatus $60,500
10. 2014-12-31
    soldstatus $47,200
11. 2011-04-05
    soldstatus $50,000
12. 2010-06-14
    listed $72,794

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,217
• − Mortgage interest: −$14,536
• − Property taxes: −$3,892
• − Insurance: −$1,298
• − Repairs & maintenance: −$2,257
• − Management: −$2,257
• − Depreciation: −$7,549
• Taxable loss: −$3,573
• Est. tax savings @ 24.0%: +$857
• After-tax cash flow: $1,629/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: Abington Heights SD
• NCES district ID: 4202010
• Math proficiency: 50% ▼ -11.00%
• Reading proficiency: 73% ▼ -6.00%
• Median HH income: $72,490
• Composite: 54.38/100
• National rank: #1358
• State rank: #56 of 539 in PA

Livability — Clarks Summit

• Score: 83/100
• State rank: #118
• US rank: #913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarks Summit, PA
• County: Lackawanna County · 134,448 people
• City population: 22,820
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 22,820
• Household income: $98,824
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 409.0

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 (88%)
• Race & ethnicity: White 88% Asian 4% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Other Indo-European 3% Other Asian/Pacific 1% Spanish 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: ▼ -117.03%
• Current HPI: 189.2345
• 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

+256.5% since first listed

12 events — show timeline

• 2026-05-14 Price Changed $259,500 GSBR as distributed by MLS GRID
• 2026-05-05 Price Changed $269,500 GSBR as distributed by MLS GRID
• 2026-04-10 Listed $279,500 GSBR as distributed by MLS GRID
• 2021-07-02 Sold (Public Records) $125,700 Public Records
• 2021-06-30 Sold (MLS) $125,700 LCAR
• 2021-06-30 Sold (MLS) $125,700 GSBR as distributed by MLS GRID
• 2021-05-14 Listed $99,900 LCAR
• 2016-04-15 Sold (Public Records) $60,500 Public Records
• 2016-04-13 Sold (MLS) $60,500 GSBR as distributed by MLS GRID
• 2014-12-31 Sold (Public Records) $47,200 Public Records
• 2011-04-05 Sold (MLS) $50,000 GSBR as distributed by MLS GRID
• 2010-06-14 Listed $72,794 GSBR as distributed by MLS GRID

Property tax history

+36.3%/yr

Latest (2026): $61,686 · +2485.1% YoY. Source: county tax records.