181 Belmont St · Carbondale, PA 18407

$119,900

3 bd · 1.0 ba · 918 sqft · SingleFamily · 131 Days on market

Built 1940 7,405 sqft lot $131/sqft · 7% below area Est $129k · 7% under ↓ 59% 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 +21.7/30.0
• ARV discount +10.8/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 1-bath home ready for you to move right in! A great opportunity for homeowners or investors alike, offering comfortable living and endless potential.

Key facts

• 7,405 sq ft lot
• Built 1940
• Listed 130 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $185 ($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: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $829 of loan paydown is wiped out by about $4k 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 131 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $129k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $129,419
• List price: $119,900
• Delta: -7.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Rock St	0.74mi	2/1.0 (-1)	870 (-5%)	9mo	$73,500	$84	45
31 Reynshanhurst St	0.60mi	2/1.0 (-1)	1,017 (+11%)	10mo	$148,000	$146	41
59 Prospect St	0.50mi	3/1.0	1,038 (+13%)	20mo	$164,000	$158	38

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-7,642
• Equity at exit: $17,877

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $8,577
• Equity at exit: $10,367

Cash invested: $33,572 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $185

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 81%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Belmont St Carbondale, PA	2.0	1.0	1000	$1,200	$1.20	13d	1	0.29mi
418 N Main St Unit 1B Simpson, PA	2.0	1.0	1050	$1,175	$1.12	44d	1	0.49mi
35 Rittenhouse St Unit 1st floor Carbondale, PA	2.0	1.0	800	$900	$1.12	44d	1	0.59mi
540 N Main St Simpson, PA	2.0	1.0	639	$1,200	$1.88	13d	1	0.65mi
37 Green St Carbondale, PA	3.0	1.0	707	$1,375	$1.94	13d	1	0.70mi
83 Spring St Carbondale, PA	2.0	1.0	1015	$1,650	$1.63	44d	1	0.81mi
109 Salem Ave Unit 1Fl Carbondale, PA	2.0	1.0	960	$1,300	$1.35	13d	1	0.83mi
4 Apple Ave Apt 4 Carbondale, PA	2.0	1.0	850	$1,114	$1.31	21d	1	0.88mi
18 Parish Ct Carbondale, PA	2.0	1.0	1050	$1,300	$1.24	13d	1	1.25mi

Listing history 12 events

1. 2026-06-02
   days on market $119,900 Active 131 DOM
2. 2026-06-01
   days on market $119,900 Active 130 DOM
3. 2026-05-31
   days on market $119,900 Active 129 DOM
4. 2026-05-30
   days on market $119,900 Active 128 DOM
5. 2026-05-15
   price $119,900 160-char remark

   Show marketing remark (160 chars)

   3-bedroom, 1-bath home ready for you to move right in! A great opportunity for homeowners or investors alike, offering comfortable living and endless potential.

6. 2026-04-21
   status Active 160-char remark

   Show marketing remark (160 chars)

   3-bedroom, 1-bath home ready for you to move right in! A great opportunity for homeowners or investors alike, offering comfortable living and endless potential.

7. 2026-03-12
   price $124,900 160-char remark

   Show marketing remark (160 chars)

   3-bedroom, 1-bath home ready for you to move right in! A great opportunity for homeowners or investors alike, offering comfortable living and endless potential.

8. 2026-01-30
   price $229,000 160-char remark

   Show marketing remark (160 chars)

   3-bedroom, 1-bath home ready for you to move right in! A great opportunity for homeowners or investors alike, offering comfortable living and endless potential.

9. 2026-01-15
   listed $249,000 Active 160-char remark

   Show marketing remark (160 chars)

   3-bedroom, 1-bath home ready for you to move right in! A great opportunity for homeowners or investors alike, offering comfortable living and endless potential.

10. 2025-11-25
    price $249,000
11. 2025-10-08
    price $259,000
12. 2025-09-23
    listed $289,000 Active

ⓘ 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 · 19 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: $15,393
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$3,488
• Taxable income: $328
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $2,138/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: 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

-58.5% since first listed

8 events — show timeline

• 2026-05-15 Price Changed $119,900 GSBR as distributed by MLS GRID
• 2026-04-21 Relisted — GSBR as distributed by MLS GRID
• 2026-03-12 Price Changed $124,900 GSBR as distributed by MLS GRID
• 2026-01-30 Price Changed $229,000 GSBR as distributed by MLS GRID
• 2026-01-15 Listed $249,000 GSBR as distributed by MLS GRID
• 2025-11-25 Price Changed $249,000 GSBR as distributed by MLS GRID
• 2025-10-08 Price Changed $259,000 GSBR as distributed by MLS GRID
• 2025-09-23 Listed $289,000 GSBR as distributed by MLS GRID

Property tax history

+32.3%/yr

Latest (2026): $23,742 · +1731.7% YoY. Source: county tax records.