486 Hazle St · Wilkes-Barre, PA 18702

$1,249,995

126 bd · 90.0 ba · 9,600 sqft · MultiFamily · 117 Days on market

Built 1950 Good condition 0.50 ac lot $130/sqft · 76% above area ↓ 10% since listing

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Condition / age +4.0/5.0
• Livability +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

High-end 9 unit property with potential for additional revenue! This is the nicest investment property I have listed in a long time. No expense was spared during renovations, meaning this property should be major maintenance free for years to come!The complex consists of 9 apartments, 3 garages, a 18 car parking lot and a large undeveloped lot with a existing curb cut for road access that is ideal for many investments. This is not your average investment property!

Key facts

• 0.5 acre lot
• 2 garage spots
• Built 1950

Tags

• MAJOR MAINTENANCE FREE
• LARGE UNDEVELOPED LOT

What this means for you Summary

Snapshot

• This is a 9 × 14-bed/10.0-bath units multifamily listed at $1.25M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $442/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.25M).
• Recommended offer: $1.14M (9.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.7% in Wilkes-Barre — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wilkes-Barre Area SD (urban): math 19% / reading 32% proficiency, ranked #469 of 539 in PA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.8%/yr); 221 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $15,974/mo this rent would consume 340% of the median local household income ($56k/yr) (locally 1632% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $38k 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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $350k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,137,495 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.28% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.65%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (median comp): $709,590
• List price: $1,249,995
• Delta: 76.16%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.84% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.33×
• Total profit: $115,339
• Equity at exit: $186,378

10-year hold

• IRR: 20.4%
• Equity multiple: 3.04×
• Total profit: $712,603
• Equity at exit: $108,077

Cash invested: $349,999 (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 18702

• Rents YoY: 6.8%
• Active inventory: 221
• Price-to-rent: 58.7×

Monthly cashflow live

• Estimated rent: $15,974 medium
• Mortgage (P&I): −$6,555
• Tax est. 1.5%: −$1,562 /mo · $18,750/yr
• Insurance: −$521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,355
• Net cashflow: $3,981

Break-even live

Break-even rent $10,935

Max offer price $1,249,995

Occupancy floor 70%

Sensitivity live

Price	-10% $4,845	-5% $4,413	+0% $3,981	+5% $3,549	+10% $3,117
Rent	-10% $2,719	-5% $3,350	+0% $3,981	+5% $4,612	+10% $5,243
Rate	-1.0pp $4,611	-0.5pp $4,299	base $3,981	+0.5pp $3,657	+1.0pp $3,328

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	14	10	$15,975
Total (9 units)			$15,974

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: $312,499
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $1,249,995 Active 117 DOM
2. 2026-06-17
   days on market $1,249,995 Active 116 DOM
3. 2026-06-16
   days on market $1,249,995 Active 115 DOM
4. 2026-06-15
   days on market $1,249,995 Active 114 DOM
5. 2026-06-14
   days on market $1,249,995 Active 112 DOM
6. 2026-06-13
   days on market $1,249,995 Active 111 DOM
7. 2026-06-10
   days on market $1,249,995 Active 109 DOM
8. 2026-06-09
   days on market $1,249,995 Active 108 DOM
9. 2026-06-08
   days on market $1,249,995 Active 107 DOM
10. 2026-06-07
    days on market $1,249,995 Active 106 DOM
11. 2026-06-02
    days on market $1,249,995 Active 101 DOM
12. 2026-06-01
    days on market $1,249,995 Active 100 DOM
13. 2026-05-31
    days on market $1,249,995 Active 99 DOM
14. 2026-05-30
    days on market $1,249,995 Active 98 DOM
15. 2026-02-21
    listed $1,249,995 Active 468-char remark

    Show marketing remark (468 chars)

    High-end 9 unit property with potential for additional revenue! This is the nicest investment property I have listed in a long time. No expense was spared during renovations, meaning this property should be major maintenance free for years to come!The complex consists of 9 apartments, 3 garages, a 18 car parking lot and a large undeveloped lot with a existing curb cut for road access that is ideal for many investments. This is not your average investment property!

16. 2024-04-30
    listed $1,249,995 Active
17. 2023-07-07
    soldstatus $1,100,000 Closed
18. 2023-04-07
    status Pending
19. 2023-02-21
    listed $1,250,000 Active
20. 2022-07-23
    listed $1,395,000
21. 2022-07-22
    soldstatus $68,000
22. 2022-06-29
    listed $1,395,000

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

Taxation est. · year 1

• Rental income: $191,688
• − Mortgage interest: −$70,019
• − Property taxes: −$18,750
• − Insurance: −$6,250
• − Repairs & maintenance: −$15,335
• − Management: −$15,335
• − Depreciation: −$36,363
• Taxable income: $29,635
• Est. tax owed @ 24.0%: −$7,112
• After-tax cash flow: $40,660/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 · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with modern amenities and a well-maintained exterior. It is ready for minor cosmetic updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the kitchen backsplash — A fresh backsplash can modernize the kitchen and make it more appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the kitchen backsplash — A fresh backsplash can modernize the kitchen and make it more appealing to potential buyers and renters. ↑

ⓘ 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: Wilkes-Barre Area SD
• NCES district ID: 4226300
• Math proficiency: 19% ▼ -2.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $37,420
• Composite: 21.22/100
• National rank: #8409
• State rank: #469 of 539 in PA

Livability — Wilkes-Barre

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wilkes-Barre, PA
• County: Luzerne County · 118,885 people
• City population: 73,981
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 41,970
• Household income: $56,378
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1632.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 25% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 6% Dominican 9%
• Common ancestry: Romanian 14% Scotch-Irish 2% Iranian 1%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 17% Other Asian/Pacific 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: ▼ -156.99%
• Current HPI: 216.9373
• Rent YoY: ▲ 6.84%
• 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

-10.4% since first listed

8 events — show timeline

• 2026-02-21 Listed $1,249,995 GSBR as distributed by MLS GRID
• 2024-04-30 Listed $1,249,995 GSBR as distributed by MLS GRID
• 2023-07-07 Sold (MLS) $1,100,000 LCAR
• 2023-04-07 Pending — LCAR
• 2023-02-21 Listed $1,250,000 LCAR
• 2022-07-23 Listed $1,395,000 LCAR
• 2022-07-22 Sold (MLS) $68,000 LCAR
• 2022-06-29 Listed $1,395,000 LCAR