1695 PA 940 · Lattimer, PA 18202

$199,000

9 bd · 9.0 ba · 2,300 sqft · MultiFamily · 59 Days on market

Fair condition $87/sqft · 18% below area Est $244k · 18% under

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

RENOVATION OPPORTUNITY! Property is currently operating as a 3 unit. Needs to be completed but a lot of work is already done. Most other the units are to the studs providing a blank canvas. New doors, windows, and roof. Power is currently off in building. Please bring a flashlight.

Key facts

• New doors
• Blank canvas
• New roof

Tags

• RENOVATION OPPORTUNITY
• OPERATING AS A 3 UNIT
• BLANK CANVAS
• NEW DOORS
• NEW WINDOWS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $934/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,582 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Hazleton Area SD (suburban): math 18% / reading 30% proficiency, ranked #476 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 270 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $5,286/mo this rent would consume 115% of the median local household income ($55k/yr) (locally 369% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.66% ✓
• Cap rate: 23.18%
• Cash-on-cash: 60.32%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (median comp): $243,749
• List price: $199,000
• Delta: -18.36%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 72.5%
• Equity multiple: 6.15×
• Total profit: $286,838
• Equity at exit: $179,275

10-year hold

• IRR: 66.3%
• Equity multiple: 13.64×
• Total profit: $704,575
• Equity at exit: $386,613

Cash invested: $55,720 (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 18202

• Home prices YoY: 7.1%
• Active inventory: 270
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $5,286 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,110
• Net cashflow: $2,801

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$5,286
Total (3 units)			$5,286

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $199,000 Active 59 DOM
2. 2026-06-18
   days on market $199,000 Active 58 DOM
3. 2026-06-17
   days on market $199,000 Active 57 DOM
4. 2026-06-16
   days on market $199,000 Active 56 DOM
5. 2026-06-15
   days on market $199,000 Active 55 DOM
6. 2026-06-14
   days on market $199,000 Active 53 DOM
7. 2026-06-12
   days on market $199,000 Active 52 DOM
8. 2026-06-09
   days on market $199,000 Active 49 DOM
9. 2026-06-09
   price $199,000 Active 48 DOM
10. 2026-06-08
    days on market $219,000 Active 48 DOM
11. 2026-06-07
    days on market $219,000 Active 47 DOM
12. 2026-06-02
    days on market $219,000 Active 42 DOM
13. 2026-06-01
    days on market $219,000 Active 41 DOM
14. 2026-05-31
    days on market $219,000 Active 40 DOM
15. 2026-05-30
    days on market $219,000 Active 39 DOM
16. 2026-04-21
    listed $219,000 Active 282-char remark

    Show marketing remark (282 chars)

    RENOVATION OPPORTUNITY! Property is currently operating as a 3 unit. Needs to be completed but a lot of work is already done. Most other the units are to the studs providing a blank canvas. New doors, windows, and roof. Power is currently off in building. Please bring a flashlight.

17. 2025-12-02
    price $210,000

ⓘ 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: $63,432
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$5,075
• − Management: −$5,075
• − Depreciation: −$5,789
• Taxable income: $32,367
• Est. tax owed @ 24.0%: −$7,768
• After-tax cash flow: $25,840/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 · 12 photos

Fair 45/100 Moderate rehab

This property presents a moderate renovation opportunity with significant work needed on the exterior, roof, and interior systems. Immediate repairs and maintenance are required to stabilize the property before further improvements can be made.

Repairs flagged

• Major Exterior siding — Exposed brick and siding
• Major Roof — Exposed roof structure
• Major Bathrooms — Exposed plumbing
• Major Kitchen — Exposed plumbing
• Major HVAC/mechanicals — Exposed ductwork
• Major Landscaping — Overgrown yard, debris

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace flooring — Improves living space and resale value
• Both Install new doors — Enhances curb appeal and security
• Both Install new windows — Enhances natural light and resale value
• Both Repair foundation — Ensures structural integrity and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Exposed brick and siding	Major	$15,000–50,000
Roof · Exposed roof structure	Major	$15,000–50,000
Bathrooms · Exposed plumbing	Major	$15,000–50,000
Kitchen · Exposed plumbing	Major	$15,000–50,000
HVAC/mechanicals · Exposed ductwork	Major	$15,000–50,000
Landscaping · Overgrown yard, debris	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace flooring — Improves living space and resale value ↑
• Both Install new doors — Enhances curb appeal and security ↑
• Both Install new windows — Enhances natural light and resale value ↑
• Both Repair foundation — Ensures structural integrity and resale value ↑

ⓘ 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: Hazleton Area SD
• NCES district ID: 4211700
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $42,247
• Composite: 20.44/100
• National rank: #8582
• State rank: #476 of 539 in PA

Livability — Lattimer

• Score: 58/100
• State rank: #1582
• US rank: #21165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Luzerne County · 118,885 people
• City population: 737
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 13,755
• Household income: $55,153
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 369.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 33% Two or more races 9% Black 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 22%
• Common ancestry: Romanian 13% Iranian 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 26% Russian/Polish/Slavic 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: ▲ 20.19%
• Current HPI: 306.1029
• 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

+4.3% since first listed

2 events — show timeline

• 2026-04-21 Listed $219,000 LCAR
• 2025-12-02 Price Changed $210,000 LCAR