934 Centre St · Freeland, PA 18224

$230,000

6 bd · 3.0 ba · 2,806 sqft · MultiFamily public records · 1 Days on market

Built 1910 Est $213k · 8% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +4.0/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Very well maintained home in a great Freeland location with Garage. Currently being used as a large single but easily converted back to a double. Old woodwork and potential 4th bedroom on 3rd floor.

Key facts

• Garage

Property features AI

Finance

• Other: Zoned for multi-family

Exterior

• Parking: Detached garage (1.5 spaces)
• Utilities: Public water; Public sewer
• Home design: Two-story single-family residence; Residential property
• Construction: Vinyl siding; Approximately 3,000 above-grade finished area
• Exterior features: Metal roof

Interior

• Bathrooms: Three full bathrooms
• Heating & cooling: Oil steam heating
• Interior features: Electric water heater; 16 total rooms

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 11.2% vs local median 6.3% in Freeland — 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 61/100 on livability (#1,409 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment F.
• Hazleton Area SD (suburban): math 18% / reading 30% proficiency, ranked #476 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Freeland El/Ms (math 8% / reading 27%, grade F, #1,295 of 1,518 statewide, top 86%, 951 students, 100% FRL); Hazleton Area Hs (math 53% / reading 8%, grade F, #347 of 437 statewide, top 79%, 3,795 students, 83% FRL) — zoned schools average 91% FRL vs 60% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 43 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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.
• Current owner paid $45k; list at $230k implies a 411% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.53%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $213,256
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 608 Walnut St	0.17mi	6/2.0	2,850 (+2%)	1mo	$290,000	$102	85
833 835 Walnut St	0.10mi	6/2.0	2,630 (-6%)	7mo	$200,000	$76	75
454 456 Fern St	0.36mi	6/2.0	2,819 (+0%)	8mo	$210,000	$74	71
928 930 Washington St	0.06mi	7/114.0 (+1)	2,856 (+2%)	11mo	$305,000	$107	65
605 607 Fern St	0.26mi	6/2.0	2,876 (+2%)	22mo	$190,000	$66	61
828 830 Front St	0.19mi	5/4.0 (-1)	3,136 (+12%)	5mo	$290,000	$92	58
548 550 South St	0.36mi	6/16.0	2,917 (+4%)	19mo	$195,000	$67	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.3%
• Equity multiple: 3.88×
• Total profit: $185,150
• Equity at exit: $207,202

10-year hold

• IRR: 32.1%
• Equity multiple: 8.73×
• Total profit: $498,088
• Equity at exit: $446,839

Cash invested: $64,400 (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 18224

• Home prices YoY: 9.2%
• Active inventory: 43
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $3,066 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$180 /mo · $2,155/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $941

Break-even live

Break-even rent $1,875

Max offer price $230,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,071	-5% $1,006	+0% $941	+5% $875	+10% $810
Rent	-10% $698	-5% $819	+0% $941	+5% $1,062	+10% $1,183
Rate	-1.0pp $1,056	-0.5pp $999	base $941	+0.5pp $881	+1.0pp $820

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,066
Total (3 units)			$3,066

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-11
   status Pending
2. 2026-05-10
   listed $230,000 Active
3. 2016-09-13
   soldstatus $45,000
4. 2016-09-02
   soldstatus $45,000 198-char remark

   Show marketing remark (198 chars)

   Very well maintained home in a great Freeland location with Garage. Currently being used as a large single but easily converted back to a double. Old woodwork and potential 4th bedroom on 3rd floor.

5. 2015-09-12
   listed $57,500 198-char remark

   Show marketing remark (198 chars)

   Very well maintained home in a great Freeland location with Garage. Currently being used as a large single but easily converted back to a double. Old woodwork and potential 4th bedroom on 3rd floor.

ⓘ 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: $2,155 · $180/mo
• Projected year-2 tax: $2,894 · $241/mo
• Expected delta: +$740/yr (+$62/mo · 34.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,792
• − Mortgage interest: −$12,884
• − Property taxes: −$2,155
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,943
• − Management: −$2,943
• − Depreciation: −$6,691
• Taxable income: $8,026
• Est. tax owed @ 24.0%: −$1,926
• After-tax cash flow: $9,361/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: Hazleton Area SD
• NCES district ID: 4211700
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $42,247
• Composite: 20.44/100
• National rank: #8582
• State rank: #476 of 539 in PA

Livability — Freeland

• Score: 61/100
• State rank: #1409
• US rank: #17813

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeland, PA
• City population: 5,954
• Population (ZIP): 5,954

Population outlook (Luzerne County) Hauer SSP2

• Today (2025): 319,505 people
• By 2030: 319,943 · +0.1%
• By 2040: 322,643 · +1.0%
• By 2050: 330,817 · +3.5%
• By 2075: 379,145 · +18.7%
• By 2100: 431,908 · +35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 8% Dominican 3%
• Common ancestry: Romanian 13% Scotch-Irish 4% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 87% English-only · Spanish 10% Russian/Polish/Slavic 1%

Political lean MEDSL · Luzerne

• 2024 margin: R (+19.2) · D 40.0% · R 59.2%
• 2008→2024 swing: -27.6pp toward R · 2008: 8.4pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+14.4 2016: R+19.6 2012: D+4.8 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.89%
• Current HPI: 270.8055
• Rent YoY: —
• Metro: —
• 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

+300.0% since first listed

5 events — show timeline

• 2026-05-11 Pending — LCAR
• 2026-05-10 Listed $230,000 LCAR
• 2016-09-13 Sold (Public Records) $45,000 Public Records
• 2016-09-02 Sold (MLS) $45,000 LCAR
• 2015-09-12 Listed $57,500 LCAR

Property tax history

+2.9%/yr

Latest (2026): $2,155 · +3.8% YoY. Source: county tax records.