420 E Lutton St · New Castle, PA 16101

$60,999

4 bd · 1.0 ba · 1,366 sqft · SingleFamily public records · 107 Days on market

Built 1920 4,791 sqft lot $45/sqft · 19% above area Est $51k · 19% over

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Why this score? — see what drove the C+ 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
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity, currently rented home. Great for adding it to an existing portfolio or start a new one.

Key facts

• 4,791 sq ft lot
• Built 1920
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $61k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $61k).
• Recommended offer: $56k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 8.9% in New Castle — 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 82/100 on livability (#137 in PA, #1,120 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F, employment F.
• New Castle Area SD (town): math 9% / reading 19% proficiency, ranked #519 of 539 in PA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harry W Lockley Early Learning Center (775 students, 100% FRL); New Castle Jhs (math 6% / reading 21%, grade F, #482 of 512 statewide, top 94%, 706 students, 100% FRL); New Castle Shs (math 47% / reading 30%, grade F, #280 of 437 statewide, top 64%, 771 students, 100% FRL) — zoned schools average 100% FRL vs 66% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 14% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the New Castle Area SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+20.1%/yr); 118 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 51 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/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 $421 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lawrence County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 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 1920 — 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. 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.
6. 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.
7. 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: 2.35% ✓
• Cap rate: 20.11%
• Cash-on-cash: 49.34%
• DSCR: 3.20
• GRM: 3.5

CMA / ARV

• ARV (median comp): $51,148
• List price: $60,999
• Delta: 19.26%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203 Cunningham Ave	0.24mi	3/1.0 (-1)	1,328 (-3%)	3mo	$25,000	$19	77
506 E Long Ave	0.24mi	3/1.0 (-1)	1,280 (-6%)	2mo	$9,500	$7	72
1308 Cunningham Ave	0.30mi	3/1.0 (-1)	1,288 (-6%)	1mo	$25,000	$19	71
517 Electric St	0.40mi	3/1.0 (-1)	1,404 (+3%)	2mo	$44,000	$31	70
705 E Lutton St	0.28mi	4/1.5	1,218 (-11%)	2mo	$48,500	$40	65
1307 Huron Ave	0.68mi	3/1.0 (-1)	1,320 (-3%)	2mo	$86,000	$65	56
722 Chestnut St	0.64mi	3/1.0 (-1)	1,428 (+4%)	4mo	$75,000	$53	54
1902 Hamilton St	0.61mi	3/1.5 (-1)	1,428 (+4%)	4mo	$33,000	$23	54
916 Marshall Ave	0.63mi	3/1.5 (-1)	1,440 (+5%)	3mo	$60,001	$42	52
24 W Chartes St	0.73mi	4/1.0	1,216 (-11%)	2mo	$113,000	$93	46
505 Spruce St	0.59mi	3/1.0 (-1)	1,564 (+14%)	0mo	$35,000	$22	43
18 W Chartes St	0.72mi	3/1.0 (-1)	1,200 (-12%)	2mo	$54,000	$45	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 52.6%
• Equity multiple: 3.49×
• Total profit: $42,456
• Equity at exit: $9,095

10-year hold

• IRR: 59.9%
• Equity multiple: 8.57×
• Total profit: $129,208
• Equity at exit: $5,274

Cash invested: $17,080 (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 16101

• Home prices YoY: -26.3%
• Rents YoY: 20.1%
• Active inventory: 118
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,436 high
• Mortgage (P&I): −$320
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $702

Break-even live

Break-even rent $547

Max offer price $60,999

Occupancy floor 46%

Sensitivity live

Price	-10% $737	-5% $719	+0% $702	+5% $685	+10% $668
Rent	-10% $589	-5% $646	+0% $702	+5% $759	+10% $816
Rate	-1.0pp $733	-0.5pp $718	base $702	+0.5pp $686	+1.0pp $670

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: $15,250
• Closing costs: $1,830
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 E Reynolds St New Castle, PA	3.0	1.0	1182	$975	$0.82	45d	1	0.36mi
1605 S Jefferson St New Castle, PA	3.0	1.0	1500	$1,500	$1.00	45d	1	0.59mi
932 Morton St New Castle, PA	3.0	1.0	1440	$1,375	$0.95	45d	1	0.65mi
1708 Moravia St New Castle, PA	3.0	2.0	1500	$1,500	$1.00	45d	1	0.81mi
1510 Huron Ave New Castle, PA	3.0	1.0	1560	$1,475	$0.95	45d	1	0.83mi
1056 Adams St New Castle, PA	3.0	1.0	1116	$1,500	$1.34	45d	1	1.04mi

Listing history 18 events

1. 2026-06-21
   days on market $60,999 Active 107 DOM
2. 2026-06-19
   days on market $60,999 Active 105 DOM
3. 2026-06-18
   days on market $60,999 Active 104 DOM
4. 2026-06-17
   days on market $60,999 Active 103 DOM
5. 2026-06-16
   days on market $60,999 Active 102 DOM
6. 2026-06-15
   days on market $60,999 Active 101 DOM
7. 2026-06-14
   days on market $60,999 Active 99 DOM
8. 2026-06-12
   days on market $60,999 Active 98 DOM
9. 2026-06-09
   days on market $60,999 Active 95 DOM
10. 2026-06-08
    days on market $60,999 Active 94 DOM
11. 2026-06-07
    days on market $60,999 Active 93 DOM
12. 2026-06-03
    days on market $60,999 Active 89 DOM
13. 2026-06-02
    days on market $60,999 Active 88 DOM
14. 2026-06-01
    days on market $60,999 Active 87 DOM
15. 2026-05-31
    days on market $60,999 Active 86 DOM
16. 2026-05-30
    days on market $60,999 Active 85 DOM
17. 2026-03-05
    listed $60,999 Active 111-char remark

    Show marketing remark (111 chars)

    Investment opportunity, currently rented home. Great for adding it to an existing portfolio or start a new one.

18. 2022-02-14
    soldstatus $804,000

ⓘ 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: $1,041 · $87/mo
• Projected year-2 tax: $1,041 · $87/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 3/10 Moderate 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,229
• − Mortgage interest: −$3,417
• − Property taxes: −$1,041
• − Insurance: −$305
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$1,775
• Taxable income: $7,935
• Est. tax owed @ 24.0%: −$1,904
• After-tax cash flow: $6,522/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: New Castle Area SD
• NCES district ID: 4216620
• Math proficiency: 9% ▼ -13.00%
• Reading proficiency: 19% ▼ -23.00%
• Median HH income: $30,967
• Composite: 11.08/100
• National rank: #9736
• State rank: #519 of 539 in PA

Livability — New Castle

• Score: 82/100
• State rank: #137
• US rank: #1120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, PA
• County: Lawrence County · 30,767 people
• City population: 30,767
• Metro: New Castle, PA
• Population (ZIP): 30,767
• Household income: $51,128
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1047.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 81,781 people
• By 2030: 77,978 · -4.7%
• By 2040: 69,522 · -15.0%
• By 2050: 61,344 · -25.0%
• By 2075: 45,027 · -44.9%
• By 2100: 31,305 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Serbian 3% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+33.8) · D 32.8% · R 66.5%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.1pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+29.6 2016: R+28.1 2012: R+9.0 2008: R+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.77%
• Current HPI: 159.3091
• Rent YoY: ▲ 20.05%
• Metro: New Castle, 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

-92.4% since first listed

2 events — show timeline

• 2026-03-05 Listed $60,999 West Penn MLS
• 2022-02-14 Sold (Public Records) $804,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,041 · -0.5% YoY. Source: county tax records.