42 Jenkins Ct

Pittston, PA 18640

$199,000D

5 bd · 3.0 ba · 1,909 sqft · Built 1919 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,750/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$310
• HOA: −$0
• Vac / Maint / Mgmt: −$368
• Net cashflow: $29/mo
• Annual: $349/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.88%
• Cash to close: $55,720

Investor read

• This is a 5-bed/3.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $29 ($349/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 $175k (12.1% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $175k (12.1% below list) — sets the bar for 1% rule.
• 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 74/100 on livability (#493 in PA, #4,549 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittston Area SD (suburban): math 30% / reading 40% proficiency, ranked #418 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 103 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.

Questions for listing agent

• Built in 1919 — 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.
• 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?
• 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 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.