94 Oxford St

Wilkes-Barre, PA 18706

$199,000B-

6 bd · 2.0 ba · 2,349 sqft · Built — · MultiFamily · Pending · 384 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,678/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$758
• HOA: −$0
• Vac / Maint / Mgmt: −$562
• Net cashflow: $314/mo
• Annual: $3,766/yr
• Cap rate: 10.76%
• Cash-on-cash: 15.94%
• DSCR: 1.71
• 1% rule: 1.35%
• Cash to close: $55,720

Investor read

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $199k. Condition is rated fair.
• At list price, monthly cash flow is $314 ($4k/yr) — positive. Per door: $157/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• It's been on market 384 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hanover Area SD (suburban): math 19% / reading 25% proficiency, ranked #484 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 81 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.8% vs local median 5.7% in Wilkes-Barre — 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.
• At $2,678/mo this rent would consume 55% of the median local household income ($59k/yr) (locally 568% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 384 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Missing or damaged trim
• Major: exterior trim — Missing or damaged trim
• Major: paint — Peeling paint
• Major: kitchen appliances — Outdated and cluttered
• Major: bathroom fixtures — Outdated and cluttered
• Major: flooring — Worn and outdated