1031 E Washington St · New Castle, PA 16101

$57,500

5 bd · 1.0 ba · 1,680 sqft · SingleFamily public records · 249 Days on market

Built 1910 5,749 sqft lot $34/sqft · at area comps Est $59k · at est.

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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 +8.4/15.0
• 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

Ready to be renovated in New Castle! Three large bedrooms plus an extra room on the second floor plus a third floor loft that could be an additional bedroom. Big yard with parking in the back.

Key facts

• Large bedrooms
• Big yard
• Parking in the back

Tags

• LARGE BEDROOMS
• EXTRA ROOM
• THIRD FLOOR LOFT
• BIG YARD
• PARKING IN THE BACK

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $809 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 8.9% 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.
• Zoned schools: Harry W Lockley Early Learning Center (775 students, 100% FRL); New Castle Jhs (math 6% / reading 21%, grade F, #482 of 512 statewide, top 94%, 706 students, 100% FRL); New Castle Shs (math 47% / reading 30%, grade F, #280 of 437 statewide, top 64%, 771 students, 100% FRL) — zoned schools average 100% FRL vs 66% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 14% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the New Castle Area SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+20.1%/yr); 118 active listings in the ZIP; 51 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $398 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 $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $8k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $58k implies a 297% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.76% ✓
• Cap rate: 23.17%
• Cash-on-cash: 60.29%
• DSCR: 3.68
• GRM: 3.0

CMA / ARV

• ARV (median comp): $58,624
• List price: $57,500
• Delta: -1.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 E Lutton St	0.60mi	4/1.0 (-1)	1,665 (-1%)	13mo	$53,000	$32	55
628 Superior St	0.49mi	4/2.0 (-1)	1,472 (-12%)	7mo	$60,000	$41	42
739 Chestnut St	0.56mi	4/2.0 (-1)	1,560 (-7%)	15mo	$80,000	$51	41
1706 E Washington St	0.59mi	4/1.5 (-1)	1,536 (-9%)	18mo	$89,000	$58	36
315 Phillips St	0.64mi	6/3.0 (+1)	1,928 (+15%)	10mo	$33,000	$17	24

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: 64.9%
• Equity multiple: 4.15×
• Total profit: $50,644
• Equity at exit: $8,573

10-year hold

• IRR: 70.9%
• Equity multiple: 10.24×
• Total profit: $148,842
• Equity at exit: $4,972

Cash invested: $16,100 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,588 medium
• Mortgage (P&I): −$302
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $809

Break-even live

Break-even rent $564

Max offer price $57,500

Occupancy floor 44%

Sensitivity live

Price	-10% $841	-5% $825	+0% $809	+5% $793	+10% $776
Rent	-10% $683	-5% $746	+0% $809	+5% $872	+10% $934
Rate	-1.0pp $838	-0.5pp $824	base $809	+0.5pp $794	+1.0pp $779

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $57,500 Active 249 DOM
2. 2026-06-19
   days on market $57,500 Active 247 DOM
3. 2026-06-18
   days on market $57,500 Active 246 DOM
4. 2026-06-17
   days on market $57,500 Active 245 DOM
5. 2026-06-16
   days on market $57,500 Active 244 DOM
6. 2026-06-15
   days on market $57,500 Active 243 DOM
7. 2026-06-14
   days on market $57,500 Active 241 DOM
8. 2026-06-12
   days on market $57,500 Active 240 DOM
9. 2026-06-09
   days on market $57,500 Active 237 DOM
10. 2026-06-08
    days on market $57,500 Active 236 DOM
11. 2026-06-07
    days on market $57,500 Active 235 DOM
12. 2026-06-03
    days on market $57,500 Active 231 DOM
13. 2026-06-02
    days on market $57,500 Active 230 DOM
14. 2026-06-01
    days on market $57,500 Active 229 DOM
15. 2026-05-31
    days on market $57,500 Active 228 DOM
16. 2026-05-30
    days on market $57,500 Active 227 DOM
17. 2026-03-16
    price $57,500 192-char remark

    Show marketing remark (192 chars)

    Ready to be renovated in New Castle! Three large bedrooms plus an extra room on the second floor plus a third floor loft that could be an additional bedroom. Big yard with parking in the back.

18. 2026-01-16
    price $60,000 192-char remark

    Show marketing remark (192 chars)

    Ready to be renovated in New Castle! Three large bedrooms plus an extra room on the second floor plus a third floor loft that could be an additional bedroom. Big yard with parking in the back.

19. 2025-10-14
    listed $65,000 Active 192-char remark

    Show marketing remark (192 chars)

    Ready to be renovated in New Castle! Three large bedrooms plus an extra room on the second floor plus a third floor loft that could be an additional bedroom. Big yard with parking in the back.

20. 2018-05-11
    soldstatus $14,500 Sold 78-char remark

    Show marketing remark (78 chars)

    Nice sized 2 story home on City of New Castle's east side. Loads of potential.

21. 2018-04-23
    status Under Contract 78-char remark

    Show marketing remark (78 chars)

    Nice sized 2 story home on City of New Castle's east side. Loads of potential.

22. 2018-03-05
    listed $19,900 Active 78-char remark

    Show marketing remark (78 chars)

    Nice sized 2 story home on City of New Castle's east side. Loads of potential.

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,438 · $120/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $19,051
• − Mortgage interest: −$3,221
• − Property taxes: −$1,438
• − Insurance: −$288
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − Depreciation: −$1,673
• Taxable income: $9,384
• Est. tax owed @ 24.0%: −$2,252
• After-tax cash flow: $7,454/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

+188.9% since first listed

6 events — show timeline

• 2026-03-16 Price Changed $57,500 West Penn MLS
• 2026-01-16 Price Changed $60,000 West Penn MLS
• 2025-10-14 Listed $65,000 West Penn MLS
• 2018-05-11 Sold (MLS) $14,500 West Penn MLS
• 2018-04-23 Pending — West Penn MLS
• 2018-03-05 Listed $19,900 West Penn MLS

Property tax history

+1.2%/yr

Latest (2025): $1,438 · -0.5% YoY. Source: county tax records.