1 Rutter Street St · Hanover, PA 18706

$184,900

6 bd · 2.0 ba · 1,920 sqft · SingleFamily public records · 104 Days on market

Built 1930 $96/sqft · 6% below area Est $154k · 20% over

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Why this score? — see what drove the D 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 +19.7/30.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This big single home could be the perfect place to call home with original woodwork, beautiful French doors, and wide staircase. In addition to the 6 bedrooms, it has a full bath on 1st & 2nd floor, walk up attic for storage, and a 3 car garage for storage. Recent updates, 11 new Windows, fresh paint, some new carpet, new dishwasher, new HWH, new roof, windows, siding on garage.

Key facts

• Wide staircase
• Walk up attic
• 3 car garage

Tags

• ORIGINAL FRENCH DOORS
• WIDE STAIRCASE
• FULL BATH ON 1ST FLOOR
• FULL BATH ON 2ND FLOOR
• WALK UP ATTIC
• 3 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (0.3% below list).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.7% in Hanover — 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 76/100 on livability (#373 in PA, #3,295 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment D, commute F.
• 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.
• Zoned schools: Hanover Green El Sch (308 students, 94% FRL); Hanover Area Memorial El Sch (math 8% / reading 22%, grade F, #1,323 of 1,518 statewide, top 89%, 310 students, 99% FRL); Hanover Area Jshs (math 27% / reading 27%, grade F, #365 of 437 statewide, top 85%, 930 students, 84% FRL) — zoned schools average 92% FRL vs 48% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 83 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• This rent runs 38% of the median local income ($59k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✗
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (median comp): $153,643
• List price: $184,900
• Delta: 20.34%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 High St	0.51mi	5/1.0 (-1)	1,801 (-6%)	7mo	$245,000	$136	51
10 Mccabe St	0.54mi	5/1.0 (-1)	1,848 (-4%)	19mo	$55,000	$30	44
201 Grove St	0.53mi	5/2.5 (-1)	2,200 (+15%)	14mo	$277,000	$126	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-16,250
• Equity at exit: $27,569

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $3,522
• Equity at exit: $15,987

Cash invested: $51,772 (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 18706

• Active inventory: 83
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,844 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$195 /mo · $2,338/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $215

Break-even live

Break-even rent $1,572

Max offer price $184,900

Occupancy floor 83%

Sensitivity live

Price	-10% $320	-5% $268	+0% $215	+5% $163	+10% $111
Rent	-10% $70	-5% $142	+0% $215	+5% $288	+10% $361
Rate	-1.0pp $308	-0.5pp $262	base $215	+0.5pp $167	+1.0pp $119

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $184,900 Active 104 DOM
2. 2026-06-18
   days on market $184,900 Active 101 DOM
3. 2026-06-17
   days on market $184,900 Active 100 DOM
4. 2026-06-16
   days on market $184,900 Active 99 DOM
5. 2026-06-15
   days on market $184,900 Active 98 DOM
6. 2026-06-14
   days on market $184,900 Active 96 DOM
7. 2026-06-13
   days on market $184,900 Active 95 DOM
8. 2026-06-10
   pricedays on market $184,900 Active 93 DOM
9. 2026-06-09
   days on market $190,000 Active 92 DOM
10. 2026-06-08
    days on market $190,000 Active 91 DOM
11. 2026-06-07
    remarks 402-char remark
12. 2026-06-07
    days on market $190,000 Active 90 DOM
13. 2026-06-02
    days on market $190,000 Active 85 DOM
14. 2026-06-01
    days on market $190,000 Active 84 DOM
15. 2026-05-31
    days on market $190,000 Active 83 DOM
16. 2026-05-30
    days on market $190,000 Active 82 DOM
17. 2026-05-13
    price $190,000 387-char remark

    Show marketing remark (387 chars)

    This big single home could be the perfect place to call home with original woodwork, beautiful French doors, and wide staircase. In addition to the 6 bedrooms, it has a full bath on 1st & 2nd floor, walk up attic for storage, and a 3 car garage for storage. Recent updates, 11 new Windows, fresh paint, some new carpet, new dishwasher, new HWH, new roof, windows, siding on garage.

18. 2026-04-17
    price $180,000 387-char remark

    Show marketing remark (387 chars)

    This big single home could be the perfect place to call home with original woodwork, beautiful French doors, and wide staircase. In addition to the 6 bedrooms, it has a full bath on 1st & 2nd floor, walk up attic for storage, and a 3 car garage for storage. Recent updates, 11 new Windows, fresh paint, some new carpet, new dishwasher, new HWH, new roof, windows, siding on garage.

19. 2026-03-09
    listed $170,000 Active 387-char remark

    Show marketing remark (387 chars)

    This big single home could be the perfect place to call home with original woodwork, beautiful French doors, and wide staircase. In addition to the 6 bedrooms, it has a full bath on 1st & 2nd floor, walk up attic for storage, and a 3 car garage for storage. Recent updates, 11 new Windows, fresh paint, some new carpet, new dishwasher, new HWH, new roof, windows, siding on garage.

20. 2025-09-29
    price $165,000

ⓘ 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: $2,338 · $195/mo
• Projected year-2 tax: $2,630 · $219/mo
• Expected delta: +$292/yr (+$24/mo · 12.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $22,127
• − Mortgage interest: −$10,357
• − Property taxes: −$2,338
• − Insurance: −$924
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$5,379
• Taxable loss: −$412
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $2,681/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: Hanover Area SD
• NCES district ID: 4211420
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 25% ▼ -21.00%
• Median HH income: $40,015
• Composite: 18.6/100
• National rank: #8903
• State rank: #484 of 539 in PA

Livability — Hanover

• Score: 76/100
• State rank: #373
• US rank: #3295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Luzerne County · 118,885 people
• City population: 56,443
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 16,387
• Household income: $58,558
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 568.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 11% Black 3%
• Hispanic origin (detail): Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 18% Scotch-Irish 3% Subsaharan African 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Asian/Pacific 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: ▼ -150.02%
• Current HPI: 196.19
• Rent YoY: —
• Metro: Scranton--Wilkes-Barre, 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

+15.2% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $190,000 LCAR
• 2026-04-17 Price Changed $180,000 LCAR
• 2026-03-09 Listed $170,000 LCAR
• 2025-09-29 Price Changed $165,000 LCAR

Property tax history

+0.8%/yr

Latest (2026): $2,338 · +0.3% YoY. Source: county tax records.