112 Carey St · Plains, PA 18705

$139,900

3 bd · 2.0 ba · 1,494 sqft · SingleFamily public records · 6 Days on market

Built 1905 $94/sqft · 9% below area Est $154k · 9% under

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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 +22.6/30.0
• ARV discount +11.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 3-bed, 2-bath home in the heart of Plains! Featuring a functional layout and comfortable living space, this home offers endless potential to make it your own. The lower level provides additional space perfect for a family room, home office, or recreation area. Conveniently located near shopping, dining, schools, and major roadways. Schedule your showing today!

Key facts

• Lower level
• Functional layout
• Recreation area

Tags

• FUNCTIONAL LAYOUT
• LOWER LEVEL
• HOME OFFICE
• RECREATION AREA
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Three or more levels
• Construction: Vinyl siding
• Exterior features: Deck; Porch

Interior

• Kitchen: Eat-in kitchen
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Oil heating with baseboard distribution
• Interior features: Eat-in kitchen; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 8.3% vs local median 4.8% in Plains — 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 78/100 on livability (#286 in PA, #2,528 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities D.
• 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: 74 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• This rent runs 30% of the median local income ($59k/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 $967 of loan paydown is wiped out by about $4k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (median comp): $153,685
• List price: $139,900
• Delta: -8.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Hemlock St	0.06mi	3/2.0	1,550 (+4%)	8mo	$179,000	$115	84
42 Mack St	0.11mi	3/1.0	1,408 (-6%)	0mo	$239,900	$170	81
20 Hancock St	0.15mi	3/1.5	1,412 (-6%)	4mo	$153,000	$108	79
26 Delaware St	0.47mi	3/1.5	1,456 (-2%)	0mo	$250,000	$172	72
185 Main St	0.48mi	2/2.0 (-1)	1,499 (+0%)	3mo	$260,000	$173	70
123 Atherton St	0.31mi	3/2.0	1,385 (-7%)	5mo	$225,000	$162	69
5 Sarah St	0.05mi	3/1.0	1,273 (-15%)	2mo	$147,000	$115	67
1 Mccullough Rd	0.57mi	3/1.0	1,470 (-2%)	1mo	$26,000	$18	66
387 Main St	0.74mi	3/1.0	1,481 (-1%)	2mo	$212,000	$143	59
23 Laurel St	0.38mi	4/2.0 (+1)	1,656 (+11%)	2mo	$251,000	$152	57
19 Cottage Ave	0.56mi	3/1.5	1,280 (-14%)	5mo	$190,000	$148	44
123 William St	0.74mi	4/1.5 (+1)	1,600 (+7%)	6mo	$215,000	$134	42

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,422
• Equity at exit: $20,860

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $13,194
• Equity at exit: $12,096

Cash invested: $39,172 (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 18705

• Home prices YoY: -22.7%
• Active inventory: 74
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,497 high
• Mortgage (P&I): −$734
• Tax from tax record: −$152 /mo · $1,821/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $239

Break-even live

Break-even rent $1,195

Max offer price $139,900

Occupancy floor 79%

Sensitivity live

Price	-10% $318	-5% $279	+0% $239	+5% $200	+10% $160
Rent	-10% $121	-5% $180	+0% $239	+5% $298	+10% $358
Rate	-1.0pp $310	-0.5pp $275	base $239	+0.5pp $203	+1.0pp $166

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 W Carey St Wilkes Barre, PA	3.0	2.0	1375	$1,650	$1.20	14d	1	0.07mi
17 E Carey St Unit 3 Wilkes-Barre, PA	2.0	1.0	1000	$1,200	$1.20	44d	1	0.37mi
26 E Carey St Apt 4 Wilkes-Barre, PA	3.0	1.0	1050	$1,300	$1.24	14d	1	0.39mi
13 Charles St Unit 15 Wilkes-Barre, PA	3.0	1.0	1300	$1,550	$1.19	14d	1	0.49mi
214 Mayock St Unit 3 Wilkes-Barre, PA	2.0	1.0	1000	$1,150	$1.15	44d	1	1.09mi
9 Snowden St Forty Fort, PA	3.0	1.0	1500	$1,250	$0.83	21d	1	1.13mi
210 E Thomas St Wilkes-Barre, PA	4.0	2.0	1300	$1,650	$1.27	44d	1	1.22mi
11 Holiday Dr Kingston, PA	1.0–3.0	1.0–2.5	1083	$2,639	$2.44	14d	14	1.26mi
942 Wyoming Ave Unit A Forty Fort, PA	2.0	1.5	1054	$1,600	$1.52	44d	1	1.27mi
19 Center St Plains, PA	2.0	1.5	1100	$1,295	$1.18	44d	1	1.30mi
13 E Chestnut St Unit 1 Wilkes-Barre, PA	3.0	1.0	900	$1,195	$1.33	44d	1	1.30mi
1154 Murray St Kingston, PA	2.0	1.5	1152	$1,600	$1.39	44d	1	1.32mi
42 Cleveland St Wilkes Barre, PA	4.0	1.5	1700	$1,600	$0.94	44d	1	1.34mi
746 N Washington St Unit 1 Wilkes-Barre, PA	3.0	2.0	1573	$1,500	$0.95	21d	1	1.37mi
98 E Walnut St Kingston, PA	3.0	1.0	1280	$1,500	$1.17	21d	1	1.41mi
157 E Walnut St Kingston, PA	2.0	1.0	900	$1,000	$1.11	14d	1	1.41mi
151 E Walnut St Kingston, PA	2.0	1.0	900	$1,000	$1.11	14d	1	1.41mi

Listing history 1 events

1. 2026-05-13
   listed $139,900 Active 392-char remark

ⓘ 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: $1,821 · $152/mo
• Projected year-2 tax: $2,016 · $168/mo
• Expected delta: +$195/yr (+$16/mo · 10.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,970
• − Mortgage interest: −$7,837
• − Property taxes: −$1,821
• − Insurance: −$700
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$4,070
• Taxable income: $667
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $2,711/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: 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 — Plains

• Score: 78/100
• State rank: #286
• US rank: #2528

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plains, PA
• County: Luzerne County · 118,885 people
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 15,624
• Household income: $59,344
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 549.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 22% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Dominican 9%
• Common ancestry: Romanian 19% Scotch-Irish 3% Polish 2%
• Foreign-born: 11% · Canada
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -71.77%
• Current HPI: 243.9176
• Rent YoY: —
• 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

2 events — show timeline

• 2026-05-19 Pending — LCAR
• 2026-05-13 Listed $139,900 LCAR

Property tax history

+1.6%/yr

Latest (2026): $1,821 · +4.2% YoY. Source: county tax records.