511 Centre St · Freeland, PA 18224

$199,900

7 bd · 2.0 ba · 0 sqft · Other public records · 66 Days on market

2,055 sqft lot Est $205k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +8.7/15.0
• Cash flow +8.2/30.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +2.0/10.0
• 1% rule +1.5/10.0

Listing remarks MLS

Totally remodeled mixed-use property! Ideal to run your business on the first floor and live upstairs, or rent both for strong income. First floor features open commercial space with full kitchen and bath. Second floor offers a large apartment with modern kitchen, bath, and 6-7 bedrooms. Separate entrance and rear parking. Schedule your showing today!

Key facts

• Separate entrance
• Full kitchen
• Large apartment

Tags

• REMODELED MIXED-USE PROPERTY
• OPEN COMMERCIAL SPACE
• FULL KITCHEN
• LARGE APARTMENT
• MODERN KITCHEN
• SEPARATE ENTRANCE

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (34.5% below list).
• Recommended offer: $131k (34.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#1,409 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: schools F, amenities F, commute 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: 43 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

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.
• 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 66 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.
• Current owner paid $100k; list at $200k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $130,871 (34.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.65% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• GRM: 12.7

CMA / ARV

• ARV (median comp): $205,240
• List price: $199,900
• Delta: -2.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.4%
• Equity multiple: 2.73×
• Total profit: $96,890
• Equity at exit: $180,086

10-year hold

• IRR: 19.3%
• Equity multiple: 6.26×
• Total profit: $294,527
• Equity at exit: $388,362

Cash invested: $55,972 (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 18224

• Home prices YoY: 9.2%
• Active inventory: 43
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,309 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$89 /mo · $1,070/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-187

Break-even live

Break-even rent $1,545

Max offer price $166,888

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $199,900 Active 66 DOM
2. 2026-06-18
   days on market $199,900 Active 65 DOM
3. 2026-06-17
   days on market $199,900 Active 64 DOM
4. 2026-06-16
   days on market $199,900 Active 63 DOM
5. 2026-06-15
   days on market $199,900 Active 62 DOM
6. 2026-06-14
   days on market $199,900 Active 60 DOM
7. 2026-06-12
   days on market $199,900 Active 59 DOM
8. 2026-06-09
   days on market $199,900 Active 56 DOM
9. 2026-06-08
   days on market $199,900 Active 55 DOM
10. 2026-06-07
    days on market $199,900 Active 54 DOM
11. 2026-06-02
    days on market $199,900 Active 49 DOM
12. 2026-06-01
    days on market $199,900 Active 48 DOM
13. 2026-05-31
    days on market $199,900 Active 47 DOM
14. 2026-05-30
    days on market $199,900 Active 46 DOM
15. 2026-05-13
    status Active 353-char remark

    Show marketing remark (353 chars)

    Totally remodeled mixed-use property! Ideal to run your business on the first floor and live upstairs, or rent both for strong income. First floor features open commercial space with full kitchen and bath. Second floor offers a large apartment with modern kitchen, bath, and 6-7 bedrooms. Separate entrance and rear parking. Schedule your showing today!

16. 2026-04-22
    status Pending 353-char remark

    Show marketing remark (353 chars)

    Totally remodeled mixed-use property! Ideal to run your business on the first floor and live upstairs, or rent both for strong income. First floor features open commercial space with full kitchen and bath. Second floor offers a large apartment with modern kitchen, bath, and 6-7 bedrooms. Separate entrance and rear parking. Schedule your showing today!

17. 2026-03-24
    listed $199,900 Active 353-char remark

    Show marketing remark (353 chars)

    Totally remodeled mixed-use property! Ideal to run your business on the first floor and live upstairs, or rent both for strong income. First floor features open commercial space with full kitchen and bath. Second floor offers a large apartment with modern kitchen, bath, and 6-7 bedrooms. Separate entrance and rear parking. Schedule your showing today!

18. 2025-12-16
    soldstatus $100,000 Closed 368-char remark

    Show marketing remark (368 chars)

    OWNER FINANCING POTENTIAL TOO ON THIS UNIQUE OPPORTUNITY TO MAKE THIS SPACIOUS PROPERTY YOUR OWN! FIRST LEVEL HAS MODERN KITCHEN, AND VERY LARGE POTENTIAL LIVING ROOM, FAMILY ROOM, AND BATH, SECOND LEVEL HAS 3 BEDROOMS AND BATH, AND THIRD LEVEL HAS FOUR ADDITIONAL, FINISHED, UNHEATED ROOMS! THE POSSIBILITIES ARE ENDLESS! LOCATION IS GREAT! CALL FOR DETAILS TODAY!!!

19. 2025-11-14
    status Pending 368-char remark

    Show marketing remark (368 chars)

    OWNER FINANCING POTENTIAL TOO ON THIS UNIQUE OPPORTUNITY TO MAKE THIS SPACIOUS PROPERTY YOUR OWN! FIRST LEVEL HAS MODERN KITCHEN, AND VERY LARGE POTENTIAL LIVING ROOM, FAMILY ROOM, AND BATH, SECOND LEVEL HAS 3 BEDROOMS AND BATH, AND THIRD LEVEL HAS FOUR ADDITIONAL, FINISHED, UNHEATED ROOMS! THE POSSIBILITIES ARE ENDLESS! LOCATION IS GREAT! CALL FOR DETAILS TODAY!!!

20. 2025-10-20
    price $110,000 368-char remark

    Show marketing remark (368 chars)

    OWNER FINANCING POTENTIAL TOO ON THIS UNIQUE OPPORTUNITY TO MAKE THIS SPACIOUS PROPERTY YOUR OWN! FIRST LEVEL HAS MODERN KITCHEN, AND VERY LARGE POTENTIAL LIVING ROOM, FAMILY ROOM, AND BATH, SECOND LEVEL HAS 3 BEDROOMS AND BATH, AND THIRD LEVEL HAS FOUR ADDITIONAL, FINISHED, UNHEATED ROOMS! THE POSSIBILITIES ARE ENDLESS! LOCATION IS GREAT! CALL FOR DETAILS TODAY!!!

21. 2025-09-29
    status Active 368-char remark

    Show marketing remark (368 chars)

    OWNER FINANCING POTENTIAL TOO ON THIS UNIQUE OPPORTUNITY TO MAKE THIS SPACIOUS PROPERTY YOUR OWN! FIRST LEVEL HAS MODERN KITCHEN, AND VERY LARGE POTENTIAL LIVING ROOM, FAMILY ROOM, AND BATH, SECOND LEVEL HAS 3 BEDROOMS AND BATH, AND THIRD LEVEL HAS FOUR ADDITIONAL, FINISHED, UNHEATED ROOMS! THE POSSIBILITIES ARE ENDLESS! LOCATION IS GREAT! CALL FOR DETAILS TODAY!!!

22. 2025-09-13
    status Pending 368-char remark

    Show marketing remark (368 chars)

    OWNER FINANCING POTENTIAL TOO ON THIS UNIQUE OPPORTUNITY TO MAKE THIS SPACIOUS PROPERTY YOUR OWN! FIRST LEVEL HAS MODERN KITCHEN, AND VERY LARGE POTENTIAL LIVING ROOM, FAMILY ROOM, AND BATH, SECOND LEVEL HAS 3 BEDROOMS AND BATH, AND THIRD LEVEL HAS FOUR ADDITIONAL, FINISHED, UNHEATED ROOMS! THE POSSIBILITIES ARE ENDLESS! LOCATION IS GREAT! CALL FOR DETAILS TODAY!!!

23. 2025-09-06
    listed $120,000 Active 368-char remark

    Show marketing remark (368 chars)

    OWNER FINANCING POTENTIAL TOO ON THIS UNIQUE OPPORTUNITY TO MAKE THIS SPACIOUS PROPERTY YOUR OWN! FIRST LEVEL HAS MODERN KITCHEN, AND VERY LARGE POTENTIAL LIVING ROOM, FAMILY ROOM, AND BATH, SECOND LEVEL HAS 3 BEDROOMS AND BATH, AND THIRD LEVEL HAS FOUR ADDITIONAL, FINISHED, UNHEATED ROOMS! THE POSSIBILITIES ARE ENDLESS! LOCATION IS GREAT! CALL FOR DETAILS TODAY!!!

24. 2016-07-25
    listed $42,900

ⓘ 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: $1,070 · $89/mo
• Projected year-2 tax: $2,114 · $176/mo
• Expected delta: +$1,044/yr (+$87/mo · 97.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,705
• − Mortgage interest: −$11,198
• − Property taxes: −$1,070
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$5,815
• Taxable loss: −$5,890
• Est. tax savings @ 24.0%: +$1,414
• After-tax cash flow: $-829/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: 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 — Freeland

• Score: 61/100
• State rank: #1409
• US rank: #17813

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

• Census place: Freeland, PA
• City population: 5,954
• Population (ZIP): 5,954

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 8% Dominican 3%
• Common ancestry: Romanian 13% Scotch-Irish 4% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 87% English-only · Spanish 10% 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: ▲ 22.89%
• Current HPI: 270.8055
• Rent YoY: —
• Metro: —
• 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

+366.0% since first listed

10 events — show timeline

• 2026-05-13 Relisted — LCAR
• 2026-04-22 Pending — LCAR
• 2026-03-24 Listed $199,900 LCAR
• 2025-12-16 Sold (MLS) $100,000 LCAR
• 2025-11-14 Pending — LCAR
• 2025-10-20 Price Changed $110,000 LCAR
• 2025-09-29 Relisted — LCAR
• 2025-09-13 Pending — LCAR
• 2025-09-06 Listed $120,000 LCAR
• 2016-07-25 Listed $42,900 PMAR

Property tax history

+2.2%/yr

Latest (2018): $1,070 · +1.9% YoY. Source: county tax records.