422 E Division St · New Castle, PA 16101

$59,500

3 bd · 2.0 ba · 1,402 sqft · SingleFamily public records · 105 Days on market

Built 1930 3,005 sqft lot

---

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
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income producing duplex

Key facts

• 3,005 sq ft lot
• Built 1930
• Listed 104 days

Tags

• INCOME PRODUCING DUPLEX

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 8.7% in New Castle — 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 82/100 on livability (#137 in PA, #1,120 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F, employment F.
• New Castle Area SD (town): math 9% / reading 19% proficiency, ranked #519 of 539 in PA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+20.1%/yr); 118 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 51 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/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 $411 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lawrence County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,145 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1930 — 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. 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: 2.30% ✓
• Cap rate: 19.96%
• Cash-on-cash: 48.82%
• DSCR: 3.17
• GRM: 3.6

CMA / ARV

• ARV (median comp): $32,821
• List price: $59,500
• Delta: 81.29%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 E Lutton St	0.16mi	3/1.5	1,492 (+6%)	6mo	$66,000	$44	75
655 Superior St	0.30mi	3/1.0	1,472 (+5%)	6mo	$65,000	$44	69
517 Electric St	0.57mi	3/1.0	1,404 (+0%)	1mo	$44,000	$31	68
1203 Cunningham Ave	0.39mi	3/1.0	1,328 (-5%)	3mo	$25,000	$19	66
722 Chestnut St	0.53mi	3/1.0	1,428 (+2%)	4mo	$75,000	$53	65
506 E Long Ave	0.41mi	3/1.0	1,280 (-9%)	2mo	$9,500	$7	61
620 Allen St	0.28mi	3/2.0	1,584 (+13%)	6mo	$65,000	$41	61
1308 Cunningham Ave	0.46mi	3/1.0	1,288 (-8%)	1mo	$25,000	$19	60
916 Marshall Ave	0.68mi	3/1.5	1,440 (+3%)	3mo	$60,001	$42	59
505 Spruce St	0.46mi	3/1.0	1,564 (+12%)	0mo	$35,000	$22	55
705 E Lutton St	0.33mi	4/1.5 (+1)	1,218 (-13%)	2mo	$48,500	$40	54
608 E Lutton St	0.27mi	4/1.0 (+1)	1,198 (-15%)	6mo	$72,000	$60	50

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 51.9%
• Equity multiple: 3.45×
• Total profit: $40,784
• Equity at exit: $8,872

10-year hold

• IRR: 59.2%
• Equity multiple: 8.45×
• Total profit: $124,112
• Equity at exit: $5,144

Cash invested: $16,660 (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 16101

• Home prices YoY: -26.3%
• Rents YoY: 20.1%
• Active inventory: 118
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$312
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $678

Break-even live

Break-even rent $512

Max offer price $59,500

Occupancy floor 46%

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1112 Williams St New Castle, PA	2.0	1.0	1026	$1,400	$1.36	44d	1	0.49mi
712 E Reynolds St New Castle, PA	3.0	1.0	1182	$975	$0.82	44d	1	0.49mi
503 Galbreath St New Castle, PA	2.0	1.0	1228	$1,295	$1.05	44d	1	0.64mi
932 Morton St New Castle, PA	3.0	1.0	1440	$1,375	$0.95	44d	1	0.64mi
1605 S Jefferson St New Castle, PA	3.0	1.0	1500	$1,500	$1.00	44d	1	0.77mi
1510 Huron Ave New Castle, PA	3.0	1.0	1560	$1,475	$0.95	44d	1	0.94mi
1708 Moravia St New Castle, PA	3.0	2.0	1500	$1,500	$1.00	44d	1	0.96mi
1056 Adams St New Castle, PA	3.0	1.0	1116	$1,500	$1.34	44d	1	1.06mi

Listing history 21 events

1. 2026-06-19
   days on market $59,500 Active 105 DOM
2. 2026-06-18
   days on market $59,500 Active 104 DOM
3. 2026-06-17
   days on market $59,500 Active 103 DOM
4. 2026-06-16
   days on market $59,500 Active 102 DOM
5. 2026-06-15
   days on market $59,500 Active 101 DOM
6. 2026-06-14
   days on market $59,500 Active 99 DOM
7. 2026-06-12
   days on market $59,500 Active 98 DOM
8. 2026-06-09
   days on market $59,500 Active 95 DOM
9. 2026-06-08
   days on market $59,500 Active 94 DOM
10. 2026-06-07
    days on market $59,500 Active 93 DOM
11. 2026-06-03
    days on market $59,500 Active 89 DOM
12. 2026-06-02
    days on market $59,500 Active 88 DOM
13. 2026-06-01
    days on market $59,500 Active 87 DOM
14. 2026-05-31
    days on market $59,500 Active 86 DOM
15. 2026-05-30
    days on market $59,500 Active 85 DOM
16. 2026-05-18
    price $59,500 23-char remark

    Show marketing remark (23 chars)

    Income producing duplex

17. 2026-03-05
    listed $59,999 Active 23-char remark

    Show marketing remark (23 chars)

    Income producing duplex

18. 2022-02-14
    soldstatus $804,000
19. 2016-12-19
    historical Withdrawn 162-char remark

    Show marketing remark (162 chars)

    This duplex has a first floor entrance in the front and the second floor enters from the rear. Both units are currently rented. More pictures will be forthcoming.

20. 2016-02-09
    listed $25,000 Active 162-char remark

    Show marketing remark (162 chars)

    This duplex has a first floor entrance in the front and the second floor enters from the rear. Both units are currently rented. More pictures will be forthcoming.

21. 2014-04-28
    listed $27,500

ⓘ 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: $808 · $67/mo
• Projected year-2 tax: $874 · $73/mo
• Expected delta: +$66/yr (+$6/mo · 8.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,435
• − Mortgage interest: −$3,333
• − Property taxes: −$808
• − Insurance: −$298
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$1,731
• Taxable income: $7,636
• Est. tax owed @ 24.0%: −$1,833
• After-tax cash flow: $6,301/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: New Castle Area SD
• NCES district ID: 4216620
• Math proficiency: 9% ▼ -13.00%
• Reading proficiency: 19% ▼ -23.00%
• Median HH income: $30,967
• Composite: 11.08/100
• National rank: #9736
• State rank: #519 of 539 in PA

Livability — New Castle

• Score: 82/100
• State rank: #137
• US rank: #1120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, PA
• County: Lawrence County · 30,767 people
• City population: 30,767
• Metro: New Castle, PA
• Population (ZIP): 30,767
• Household income: $51,128
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1047.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 81,781 people
• By 2030: 77,978 · -4.7%
• By 2040: 69,522 · -15.0%
• By 2050: 61,344 · -25.0%
• By 2075: 45,027 · -44.9%
• By 2100: 31,305 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Serbian 3% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+33.8) · D 32.8% · R 66.5%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.1pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+29.6 2016: R+28.1 2012: R+9.0 2008: R+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.77%
• Current HPI: 159.3091
• Rent YoY: ▲ 20.05%
• Metro: New Castle, 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

+116.4% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $59,500 West Penn MLS
• 2026-03-05 Listed $59,999 West Penn MLS
• 2022-02-14 Sold (Public Records) $804,000 Public Records
• 2016-12-19 Delisted — West Penn MLS
• 2016-02-09 Listed $25,000 West Penn MLS
• 2014-04-28 Listed $27,500 West Penn MLS

Property tax history

+0.9%/yr

Latest (2025): $808 · -0.5% YoY. Source: county tax records.