192 Gardner Ave · Wilkes-Barre, PA 18705

$89,000

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 80 Days on market

Built 1920 3,750 sqft lot Est $174k · 49% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL - FULL RENOVATION NEEDED. Being sold as-is. This 3-bedroom, 1-bathroom home is located in a quiet, established neighborhood and is ready for a full transformation. The property has been cleared out and is a blank slate, offering a great opportunity to bring your vision to life. Whether you're looking to flip, rent, or create a custom home, this is the one!

Key facts

• Blank slate
• 3,750 sq ft lot
• Listed 80 days

Tags

• QUIET ESTABLISHED NEIGHBORHOOD
• BLANK SLATE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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: 74 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $77k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.63% ✓
• Cap rate: 13.44%
• Cash-on-cash: 25.51%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $174,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Jay St	0.37mi	3/2.0	1,350 (-1%)	2mo	$190,000	$141	76
50 Yale St	0.42mi	3/1.0	1,328 (-2%)	4mo	$195,000	$147	73
202 Austin Ave	0.07mi	2/1.5 (-1)	1,450 (+7%)	9mo	$185,000	$128	72
52 Mill St	0.40mi	2/2.0 (-1)	1,376 (+1%)	4mo	$80,000	$58	67
56 Liddon St	0.54mi	3/1.0	1,440 (+6%)	2mo	$170,000	$118	64
96 Mill St	0.35mi	3/1.0	1,484 (+9%)	8mo	$200,000	$135	62
35 Kado St	0.49mi	3/1.5	1,462 (+8%)	5mo	$137,500	$94	59
32 Liddon St	0.54mi	3/1.0	1,488 (+9%)	11mo	$150,000	$101	50
221 E Thomas St	0.47mi	3/2.0	1,536 (+13%)	4mo	$182,500	$119	49
94 Brader Dr	0.43mi	3/1.0	1,176 (-14%)	11mo	$235,500	$200	48
330 E Thomas St	0.54mi	3/1.5	1,175 (-14%)	4mo	$245,000	$209	47
817 Scott St	0.55mi	3/2.0	1,522 (+12%)	6mo	$136,000	$89	46

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: 19.1%
• Equity multiple: 1.78×
• Total profit: $19,345
• Equity at exit: $13,270

10-year hold

• IRR: 27.4%
• Equity multiple: 3.42×
• Total profit: $60,386
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $530

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 58%

Sensitivity live

Price	-10% $591	-5% $561	+0% $530	+5% $499	+10% $468
Rent	-10% $415	-5% $473	+0% $530	+5% $587	+10% $644
Rate	-1.0pp $575	-0.5pp $552	base $530	+0.5pp $507	+1.0pp $483

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 E Thomas St Wilkes-Barre, PA	4.0	2.0	1300	$1,650	$1.27	45d	1	0.54mi
214 Mayock St Unit 3 Wilkes-Barre, PA	2.0	1.0	1000	$1,150	$1.15	45d	1	0.57mi
19 Center St Plains, PA	2.0	1.5	1100	$1,295	$1.18	45d	1	0.83mi
42 Cleveland St Wilkes Barre, PA	4.0	1.5	1700	$1,600	$0.94	45d	1	0.86mi
13 Charles St Unit 15 Wilkes-Barre, PA	3.0	1.0	1300	$1,550	$1.19	15d	1	0.93mi
746 N Washington St Unit 1 Wilkes-Barre, PA	3.0	2.0	1573	$1,500	$0.95	22d	1	0.99mi
13 E Chestnut St Unit 1 Wilkes-Barre, PA	3.0	1.0	900	$1,195	$1.33	45d	1	1.01mi
9d Princeton Ct Wilkes-Barre, PA	1.0–2.0	1.0–1.5	945	$2,644	$2.80	15d	8	1.05mi
26 E Carey St Apt 4 Wilkes-Barre, PA	3.0	1.0	1050	$1,300	$1.24	15d	1	1.06mi
17 E Carey St Unit 3 Wilkes-Barre, PA	2.0	1.0	1000	$1,200	$1.20	45d	1	1.06mi
423 Scott St Apt 1 Wilkes-Barre, PA	3.0	1.0	1100	$1,450	$1.32	45d	1	1.24mi
572 N Franklin St Wilkes Barre, PA	2.0	1.0	1042	$1,050	$1.01	22d	1	1.33mi
572 N Franklin St Wilkes Barre, PA	2.0	1.0	1042	$1,100	$1.06	45d	1	1.33mi
123 W Carey St Wilkes Barre, PA	3.0	2.0	1375	$1,650	$1.20	15d	1	1.37mi
535 N Franklin St Wilkes Barre, PA	3.0	1.0	1148	$1,359	$1.18	22d	1	1.37mi
48 Saratoga Ct Wilkes Barre, PA	3.0	1.5	1240	$1,650	$1.33	22d	1	1.39mi
60 Saratoga Ct Wilkes Barre, PA	3.0	1.5	1240	$1,850	$1.49	22d	1	1.42mi
680 Wildflower Dr Wilkes-Barre, PA	1.0–2.0	1.0	1116	$3,815	$3.42	15d	1	1.46mi

Listing history 17 events

1. 2026-04-01
   soldstatus $77,000
2. 2026-03-20
   soldstatus $77,000 Closed 375-char remark

   Show marketing remark (375 chars)

   INVESTOR SPECIAL - FULL RENOVATION NEEDED. Being sold as-is. This 3-bedroom, 1-bathroom home is located in a quiet, established neighborhood and is ready for a full transformation. The property has been cleared out and is a blank slate, offering a great opportunity to bring your vision to life. Whether you're looking to flip, rent, or create a custom home, this is the one!

3. 2026-02-26
   status Pending 375-char remark

   Show marketing remark (375 chars)

   INVESTOR SPECIAL - FULL RENOVATION NEEDED. Being sold as-is. This 3-bedroom, 1-bathroom home is located in a quiet, established neighborhood and is ready for a full transformation. The property has been cleared out and is a blank slate, offering a great opportunity to bring your vision to life. Whether you're looking to flip, rent, or create a custom home, this is the one!

4. 2026-02-16
   listed $84,500 Active 375-char remark

   Show marketing remark (375 chars)

   INVESTOR SPECIAL - FULL RENOVATION NEEDED. Being sold as-is. This 3-bedroom, 1-bathroom home is located in a quiet, established neighborhood and is ready for a full transformation. The property has been cleared out and is a blank slate, offering a great opportunity to bring your vision to life. Whether you're looking to flip, rent, or create a custom home, this is the one!

5. 2025-12-15
   status Pending
6. 2025-12-02
   status Active
7. 2025-10-10
   status Pending
8. 2025-09-30
   price $89,000
9. 2025-09-23
   price $94,900
10. 2025-09-17
    price $99,000
11. 2025-09-15
    price $104,000
12. 2025-09-05
    price $109,500
13. 2025-09-02
    status Active
14. 2025-08-20
    status Pending
15. 2025-07-29
    price $115,000
16. 2025-07-22
    listed $125,000 Active
17. 2025-07-21
    soldstatus $55,000

ⓘ 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 (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $17,391
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$2,589
• Taxable income: $5,254
• Est. tax owed @ 24.0%: −$1,261
• After-tax cash flow: $5,097/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): 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

+40.0% since first listed

17 events — show timeline

• 2026-04-01 Sold (Public Records) $77,000 Public Records
• 2026-03-20 Sold (MLS) $77,000 LCAR
• 2026-02-26 Pending — LCAR
• 2026-02-16 Listed $84,500 LCAR
• 2025-12-15 Pending — LCAR
• 2025-12-02 Relisted — LCAR
• 2025-10-10 Pending — LCAR
• 2025-09-30 Price Changed $89,000 LCAR
• 2025-09-23 Price Changed $94,900 LCAR
• 2025-09-17 Price Changed $99,000 LCAR
• 2025-09-15 Price Changed $104,000 LCAR
• 2025-09-05 Price Changed $109,500 LCAR
• 2025-09-02 Relisted — LCAR
• 2025-08-20 Pending — LCAR
• 2025-07-29 Price Changed $115,000 LCAR
• 2025-07-22 Listed $125,000 LCAR
• 2025-07-21 Sold (Public Records) $55,000 Public Records

Property tax history

+20.4%/yr

Latest (2026): $9,026 · +0.1% YoY. Source: county tax records.