507 Delaware St · Forest City, PA 18421

$90,000

5 bd · 1.5 ba · 2,994 sqft · Other · 223 Days on market

Built 1920 0.34 ac lot $30/sqft · 52% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your dreams to life by restoring this large 5 bedroom 1 and a half bath two story home !! Large living room for entertaining. The possibilities are endless. Take a look and see for yourself. If you are looking for a home for yourself or an investment property, this may be it!

Key facts

• 0.34 acre lot
• Built 1920
• Listed 223 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#1,019 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Forest City Regional SD (suburban): math 34% / reading 51% proficiency, ranked #308 of 539 in PA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 80 units permitted in Susquehanna County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Susquehanna County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $90k implies a 352% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.84% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.54%
• DSCR: 2.23
• GRM: 4.5

CMA / ARV

• ARV (median comp): $188,406
• List price: $90,000
• Delta: -52.23%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 45.1%
• Equity multiple: 4.41×
• Total profit: $85,941
• Equity at exit: $81,079

10-year hold

• IRR: 39.2%
• Equity multiple: 9.90×
• Total profit: $224,302
• Equity at exit: $174,850

Cash invested: $25,200 (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 18421

• Home prices YoY: 20.9%
• Active inventory: 53
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,659 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$223 /mo · $2,674/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $578

Break-even live

Break-even rent $927

Max offer price $90,000

Occupancy floor 60%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $90,000 Active 223 DOM
2. 2026-06-17
   days on market $90,000 Active 222 DOM
3. 2026-06-16
   days on market $90,000 Active 221 DOM
4. 2026-05-31
   days on market $90,000 Active 220 DOM
5. 2026-05-30
   days on market $90,000 Active 219 DOM
6. 2026-04-13
   status Active 282-char remark

   Show marketing remark (282 chars)

   Bring your dreams to life by restoring this large 5 bedroom 1 and a half bath two story home !! Large living room for entertaining. The possibilities are endless. Take a look and see for yourself. If you are looking for a home for yourself or an investment property, this may be it!

7. 2026-04-13
   status Pending 282-char remark

   Show marketing remark (282 chars)

   Bring your dreams to life by restoring this large 5 bedroom 1 and a half bath two story home !! Large living room for entertaining. The possibilities are endless. Take a look and see for yourself. If you are looking for a home for yourself or an investment property, this may be it!

8. 2026-01-13
   price $90,000 282-char remark

   Show marketing remark (282 chars)

   Bring your dreams to life by restoring this large 5 bedroom 1 and a half bath two story home !! Large living room for entertaining. The possibilities are endless. Take a look and see for yourself. If you are looking for a home for yourself or an investment property, this may be it!

9. 2025-10-22
   listed $95,000 Active 282-char remark

   Show marketing remark (282 chars)

   Bring your dreams to life by restoring this large 5 bedroom 1 and a half bath two story home !! Large living room for entertaining. The possibilities are endless. Take a look and see for yourself. If you are looking for a home for yourself or an investment property, this may be it!

10. 2011-06-01
    soldstatus $19,900 218-char remark

    Show marketing remark (218 chars)

    Large Home with 5 bedrooms 1.5 baths, hardwood floors and a lots of woodwork. , Baths: 1 Bath Lev 2, Beds: 2+ Bed 2nd, SqFt Fin - Main: 1497.00, SqFt Fin - 3rd: 0.00, Tax Information: Available, SqFt Fin - 2nd: 1497.00

ⓘ 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: $2,674 · $223/mo
• Projected year-2 tax: $2,674 · $223/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,907
• − Mortgage interest: −$5,041
• − Property taxes: −$2,674
• − Insurance: −$450
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$2,618
• Taxable income: $5,939
• Est. tax owed @ 24.0%: −$1,425
• After-tax cash flow: $5,514/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: Forest City Regional SD
• NCES district ID: 4209930
• Math proficiency: 34% ▼ -17.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $47,744
• Composite: 36.29/100
• National rank: #4701
• State rank: #308 of 539 in PA

Livability — Forest City

• Score: 66/100
• State rank: #1019
• US rank: #11278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, PA
• Population (ZIP): 4,475

Population outlook (Susquehanna County) Hauer SSP2

• Today (2025): 37,552 people
• By 2030: 35,270 · -6.1%
• By 2040: 30,663 · -18.3%
• By 2050: 26,492 · -29.5%
• By 2075: 19,658 · -47.7%
• By 2100: 15,179 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 11% Italian 3% Scotch-Irish 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 97% English-only · Spanish 1% Vietnamese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Susquehanna

• 2024 margin: Solid R (+44.7) · D 27.2% · R 71.9%
• 2008→2024 swing: -33.0pp toward R · 2008: -11.7pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.2 2016: R+42.9 2012: R+21.4 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 48.80%
• Current HPI: 282.5624
• 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

+352.3% since first listed

5 events — show timeline

• 2026-04-13 Relisted — GSBR as distributed by MLS GRID
• 2026-04-13 Pending — GSBR as distributed by MLS GRID
• 2026-01-13 Price Changed $90,000 GSBR as distributed by MLS GRID
• 2025-10-22 Listed $95,000 GSBR as distributed by MLS GRID
• 2011-06-01 Sold (MLS) $19,900 GSBR as distributed by MLS GRID

Property tax history

+1.3%/yr

Latest (2026): $2,674 · +4.0% YoY. Source: county tax records.