474 Rear 475 Spruce St · Hazleton, PA 18201

$219,000

5 bd · 3.0 ba · 2,376 sqft · MultiFamily · 50 Days on market

Fair condition 3,240 sqft lot $92/sqft · 20% below area Est $274k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Livability +3.4/5.0
• 1% rule +3.0/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

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

Two homes for the price of one! PRICED TO SELL!Welcome to this charming 3-bedroom 1.5 bath home that offers both comfort and functionality. Large kitchen with lots of cabinet space. A dedicated dining room, perfect for everyday living and entertaining guests.

Key facts

• 3,240 sq ft lot
• Listed 50 days

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $219k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (19.7% below list).
• Recommended offer: $176k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.5% in Hazleton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#930 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute 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.
• Market conditions: 118 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 50 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Recommended offer $175,934 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.42%
• DSCR: 0.89
• GRM: 10.4

CMA / ARV

• ARV (median comp): $273,518
• List price: $219,000
• Delta: -19.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 318 Spruce St	0.30mi	6/2.0 (+1)	2,415 (+2%)	1mo	$270,000	$112	73
657 657 1/2 Alter St	0.50mi	4/2.0 (-1)	2,400 (+1%)	6mo	$210,000	$88	61
591 N James St	0.31mi	5/2.0	2,600 (+9%)	14mo	$260,000	$100	54
904-906 First St	0.23mi	6/3.0 (+1)	2,700 (+14%)	9mo	$275,000	$102	54
534 536 Lafayette Ct	0.31mi	4/2.0 (-1)	2,665 (+12%)	14mo	$215,000	$81	45
241 243 Diamond Ave	0.41mi	4/2.0 (-1)	2,640 (+11%)	12mo	$275,000	$104	44
743 743 Mcnair St	0.70mi	5/2.0	2,276 (-4%)	16mo	$295,000	$130	43
544 Manhattan Ct	0.62mi	4/3.0 (-1)	2,068 (-13%)	2mo	$292,000	$141	43
561 563 Church St	0.53mi	6/3.0 (+1)	2,639 (+11%)	12mo	$298,000	$113	42
235 237 Allen St	0.65mi	4/5.0 (-1)	2,144 (-10%)	5mo	$290,000	$135	36
706 708 Vine St	0.62mi	6/3.0 (+1)	2,107 (-11%)	20mo	$215,000	$102	30
642 644 Wyoming St	0.73mi	6/2.0 (+1)	2,670 (+12%)	12mo	$292,000	$109	26

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: -20.3%
• Equity multiple: 0.29×
• Total profit: $-43,332
• Equity at exit: $32,654

10-year hold

• IRR: -13.4%
• Equity multiple: 0.22×
• Total profit: $-47,760
• Equity at exit: $18,935

Cash invested: $61,320 (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 18201

• Home prices YoY: -14.9%
• Active inventory: 118
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,759 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-124

Break-even live

Break-even rent $1,916

Max offer price $201,118

Occupancy floor —

Sensitivity live

Price	-10% $28	-5% $-48	+0% $-124	+5% $-199	+10% $-275
Rent	-10% $-263	-5% $-193	+0% $-124	+5% $-54	+10% $15
Rate	-1.0pp $-13	-0.5pp $-68	base $-124	+0.5pp $-180	+1.0pp $-238

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-12
   statusdays on market $219,000 Pending 50 DOM
2. 2026-06-09
   days on market $219,000 Active 48 DOM
3. 2026-06-08
   days on market $219,000 Active 47 DOM
4. 2026-06-07
   days on market $219,000 Active 46 DOM
5. 2026-06-02
   days on market $219,000 Active 41 DOM
6. 2026-06-01
   days on market $219,000 Active 40 DOM
7. 2026-05-31
   days on market $219,000 Active 39 DOM
8. 2026-05-30
   days on market $219,000 Active 38 DOM
9. 2026-04-22
   listed $259,900 Active 259-char remark

   Show marketing remark (259 chars)

   Two homes for the price of one! PRICED TO SELL!Welcome to this charming 3-bedroom 1.5 bath home that offers both comfort and functionality. Large kitchen with lots of cabinet space. A dedicated dining room, perfect for everyday living and entertaining guests.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $21,112
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − Depreciation: −$6,371
• Taxable loss: −$5,284
• Est. tax savings @ 24.0%: +$1,268
• After-tax cash flow: $-215/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.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to update the kitchen and flooring, and a fresh coat of paint to improve its overall appearance. The home is located in a desirable area, making it a good investment opportunity.

Repairs flagged

• Moderate Kitchen cabinets — Worn and outdated appearance
• Moderate Appliances — Outdated and possibly inefficient
• Major Flooring — Worn linoleum in kitchen and dining area

Value-add opportunities

• Resale New kitchen cabinets and appliances — Modernizing the kitchen will attract more buyers
• Resale New flooring — Fresh flooring will improve the home's overall appearance
• Both Paint interior walls — Fresh paint will improve the home's curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and outdated appearance	Moderate	$3,000–15,000
Appliances · Outdated and possibly inefficient	Moderate	$3,000–15,000
Flooring · Worn linoleum in kitchen and dining area	Major	$15,000–50,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Resale New kitchen cabinets and appliances — Modernizing the kitchen will attract more buyers ↑
• Resale New flooring — Fresh flooring will improve the home's overall appearance ↑
• Both Paint interior walls — Fresh paint will improve the home's curb appeal and interior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Hazleton

• Score: 67/100
• State rank: #930
• US rank: #10115

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazleton, PA
• City population: 13,755
• Population (ZIP): 31,428

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: Majority Hispanic (60%)
• Race & ethnicity: Hispanic / Latino 60% White 36% Two or more races 18% Black 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 6% Dominican 41%
• Common ancestry: Romanian 5% Iranian 1% Russian 1%
• Foreign-born: 36% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 54% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -62.00%
• Current HPI: 354.7443
• 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

1 event — show timeline

• 2026-04-22 Listed $259,900 LCAR