451 Moss St

Plymouth, PA 18651

$199,900B-

6 bd · 4.0 ba · 1,836 sqft · Built 1900 · MultiFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,554/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$536
• Net cashflow: $715/mo
• Annual: $8,578/yr
• Cap rate: 10.58%
• Cash-on-cash: 15.32%
• DSCR: 1.68
• 1% rule: 1.28%
• Cash to close: $55,972

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $200k.
• At list price, monthly cash flow is $715 ($9k/yr) — positive. Per door: $357/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 66/100 on livability (#1,068 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: employment D, crime F, amenities F.
• Wyoming Valley West SD (suburban): math 18% / reading 42% proficiency, ranked #445 of 539 in PA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: State El Ctr (math 8% / reading 32%, grade F, #1,248 of 1,518 statewide, top 83%, 1,353 students, 100% FRL); Wyoming Valley West Ms (math 13% / reading 41%, grade F, #404 of 512 statewide, top 80%, 1,191 students, 100% FRL); Wyoming Valley West Shs (math 57% / reading 24%, grade F, #255 of 437 statewide, top 60%, 1,357 students, 100% FRL) — zoned schools average 100% FRL vs 56% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 61 active listings in the ZIP; 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.
• Current owner paid $86k; list at $200k implies a 132% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.6% vs local median 8.3% in Plymouth — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• 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?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• 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.