210 Sambourne St

Wilkes-Barre, PA 18701

$180,000F

6 bd · 5.0 ba · 1,220 sqft · Built 1920 · SingleFamily · Pending · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$495
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $-333/mo
• Annual: $-3,992/yr
• Cap rate: 4.08%
• Cash-on-cash: -7.92%
• DSCR: 0.65
• 1% rule: 0.78%
• Cash to close: $50,400

Investor read

• This is a 6-bed/5.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $-333 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (32.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (22.2% below list).
• It's been on market 88 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (32.6% below list) — sets the bar for cash-flow.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.5% local appreciation)).
• Location reads: area grade F — 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.
• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 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.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% vs local median 5.7% in Wilkes-Barre — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.