492 S Franklin St · Wilkes-Barre, PA 18702

$189,900

4 bd · 1.0 ba · 2,950 sqft · SingleFamily public records · 129 Days on market

Built 1950 3,049 sqft lot $64/sqft · 47% below area Est $359k · 47% 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

Key facts

• Near schools
• Duplex-style layout
• Finished attic

Tags

• BRICK ROWHOME
• DUPLEX-STYLE LAYOUT
• FINISHED ATTIC
• LOWER-LEVEL SPACE
• NEAR SCHOOLS
• PUBLIC TRANSIT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (3.8% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 5.7% in Wilkes-Barre — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade C — 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• This rent runs 39% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $6k 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 129 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $190k implies a 347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1950 — 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: 0.96% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $359,048
• List price: $189,900
• Delta: -47.11%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
187 New Alexander St	0.50mi	3/1.5 (-1)	2,995 (+2%)	15mo	$229,000	$76	55
333 Academy St	0.53mi	4/2.0	3,202 (+8%)	3mo	$290,000	$91	54
254 Hazle St	0.49mi	3/2.5 (-1)	2,800 (-5%)	9mo	$265,000	$95	51
400 Carey Ave	0.68mi	4/2.5	3,132 (+6%)	6mo	$190,000	$61	47
102 Old River Rd	0.52mi	5/3.5 (+1)	2,925 (-1%)	16mo	$255,000	$87	46
28 Birch St	0.58mi	5/3.5 (+1)	3,172 (+8%)	6mo	$242,000	$76	41
14 Dauphin St	0.30mi	4/2.5	2,508 (-15%)	19mo	$269,900	$108	39
200 Riverside Dr	0.54mi	5/3.0 (+1)	3,198 (+8%)	14mo	$257,000	$80	36
18 Birch St	0.57mi	5/2.5 (+1)	3,220 (+9%)	18mo	$250,000	$78	32

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 · 6.84% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.72×
• Total profit: $-15,066
• Equity at exit: $28,315

10-year hold

• IRR: 6.5%
• Equity multiple: 1.57×
• Total profit: $30,305
• Equity at exit: $16,419

Cash invested: $53,172 (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 18702

• Rents YoY: 6.8%
• Active inventory: 221
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,827 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $131

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 88%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Edison St Wilkes Barre, PA	4.0	1.5	2900	$1,400	$0.48	13d	1	0.41mi
243 Stanton St Wilkes Barre, PA	3.0	1.0	2024	$1,395	$0.69	13d	1	0.55mi
243 Stanton St Wilkes Barre, PA	3.0	1.0	2024	$1,450	$0.72	43d	1	0.55mi
249 Parrish St Wilkes Barre, PA	5.0	2.0	2214	$2,000	$0.90	13d	1	0.64mi
123 S Franklin St Wilkes-Barre, PA	3.0	2.0	2400	$3,450	$1.44	20d	1	0.68mi
121 Oak St Unit 1 Wilkes-Barre, PA	3.0	1.0	1960	$1,550	$0.79	13d	1	1.10mi

Listing history 25 events

1. 2026-06-18
   days on market $189,900 Active 129 DOM
2. 2026-06-17
   days on market $189,900 Active 128 DOM
3. 2026-06-16
   days on market $189,900 Active 127 DOM
4. 2026-06-15
   days on market $189,900 Active 126 DOM
5. 2026-06-14
   days on market $189,900 Active 124 DOM
6. 2026-06-13
   days on market $189,900 Active 123 DOM
7. 2026-06-10
   days on market $189,900 Active 121 DOM
8. 2026-06-09
   days on market $189,900 Active 120 DOM
9. 2026-06-08
   days on market $189,900 Active 119 DOM
10. 2026-06-07
    days on market $189,900 Active 118 DOM
11. 2026-06-02
    days on market $189,900 Active 113 DOM
12. 2026-06-01
    days on market $189,900 Active 112 DOM
13. 2026-05-31
    days on market $189,900 Active 111 DOM
14. 2026-05-30
    days on market $189,900 Active 110 DOM
15. 2026-04-30
    price $189,900 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

16. 2026-04-28
    status Pending 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

17. 2026-04-15
    price $194,900 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

18. 2026-04-15
    price $194,900 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

19. 2026-03-20
    price $199,900 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

20. 2026-03-20
    price $199,900 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

21. 2026-02-09
    listed $214,900 Active 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

22. 2026-02-09
    listed $214,900 Active 470-char remark

    Show marketing remark (470 chars)

    Spacious brick rowhome configured in a duplex-style layout, offering flexible living arrangements and income-producing potential. The home features generous room sizes, a finished attic, and additional lower-level space that expands overall usability. Conveniently located near schools, public transit, and downtown Wilkes-Barre, this property delivers size, versatility, and upside—ideal for owner-occupants, multi-generational living, or investors seeking value.

23. 2019-11-27
    soldstatus $42,500
24. 2019-09-05
    listed $49,500
25. 2007-06-06
    soldstatus $60,857

ⓘ 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 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,925
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$5,524
• Taxable loss: −$1,542
• Est. tax savings @ 24.0%: +$370
• After-tax cash flow: $1,943/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 — 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

+212.0% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $189,900 GLVRMLS
• 2026-04-28 Pending — PMAR
• 2026-04-15 Price Changed $194,900 PMAR
• 2026-04-15 Price Changed $194,900 GLVRMLS
• 2026-03-20 Price Changed $199,900 PMAR
• 2026-03-20 Price Changed $199,900 GLVRMLS
• 2026-02-09 Listed $214,900 PMAR
• 2026-02-09 Listed $214,900 GLVRMLS
• 2019-11-27 Sold (MLS) $42,500 LCAR
• 2019-09-05 Listed $49,500 LCAR
• 2007-06-06 Sold (Public Records) $60,857 Public Records

Property tax history

+20.4%/yr

Latest (2026): $14,644 · +0.1% YoY. Source: county tax records.