135 W River St · Wilkes-Barre, PA 18702

$189,000

7 bd · 3.0 ba · 2,700 sqft · MultiFamily public records · 8 Days on market

Built 1900 1,742 sqft lot Est $202k · 7% under

---

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 +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Located close to the colleges and downtown. A great opportunity for investors with both apartments rented and long term leases. Owner has repaired roof, upgraded electric and is completing updating first floor apartment. The property will meet or exceed your financial expectations!

Key facts

• Tenant occupied unit
• Major roadways
• Local amenities

Tags

• FULLY RENOVATED UNIT
• TENANT OCCUPIED UNIT
• IMMEDIATE RENTAL INCOME
• LOCAL AMENITIES
• MAJOR ROADWAYS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex structure; Single-family residential subtype listed; Above-grade finished area approximately 2,700
• Construction: Permanent foundation
• Exterior features: Public water; Public sewer; Multi-family zoning

Interior

• Bedrooms: Total of 9 rooms (bedroom count not specified)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Has cooling (other)
• Interior features: Unfurnished; Has basement (permanent foundation)

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Cap rate 13.6% 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: Rents rising fast (+6.8%/yr); 221 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $3,106/mo this rent would consume 66% of the median local household income ($56k/yr) (locally 1632% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $72k; list at $189k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,000

Questions for the listing agent

1. Built in 1900 — 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 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: 1.64% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.02%
• DSCR: 2.16
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $202,500
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
164 166 Academy St	0.15mi	6/2.0 (-1)	2,848 (+6%)	4mo	$180,000	$63	71
403 Franklin St	0.21mi	8/3.0 (+1)	2,614 (-3%)	22mo	$270,000	$103	61
30-32 Alexander St	0.42mi	6/3.0 (-1)	3,000 (+11%)	0mo	$300,000	$100	56
100-102 Westminster St	0.74mi	7/2.0	2,682 (-1%)	5mo	$155,000	$58	56
34 Alexander St	0.43mi	6/4.0 (-1)	2,938 (+9%)	2mo	$275,000	$94	55
80-82 New Alexander St	0.44mi	6/2.0 (-1)	2,876 (+6%)	10mo	$215,000	$75	52
120 122 Mcharragher	0.66mi	6/2.0 (-1)	2,670 (-1%)	16mo	$170,000	$64	46
20 20 Rear Westminster St	0.58mi	6/3.0 (-1)	2,334 (-14%)	8mo	$275,000	$118	39
180 182 New Alexander St	0.54mi	6/4.0 (-1)	2,960 (+10%)	15mo	$167,500	$57	38
63-65 65 Corlear St	0.71mi	8/3.0 (+1)	2,860 (+6%)	18mo	$190,000	$66	37

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: 24.0%
• Equity multiple: 2.04×
• Total profit: $54,975
• Equity at exit: $28,181

10-year hold

• IRR: 34.2%
• Equity multiple: 4.73×
• Total profit: $197,536
• Equity at exit: $16,341

Cash invested: $52,920 (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 18702

• Rents YoY: 6.8%
• Active inventory: 221
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,106 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $1,148

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
1× unit	5	2	$1,739
1× unit	2	1	$1,367
Total (2 units)			$3,106

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
381 S River St Wilkes-Barre, PA	6.0	2.0	1908	$2,400	$1.26	44d	1	0.13mi
533 S Franklin St Wilkes Barre, PA	6.0	3.0	2810	$3,000	$1.07	44d	1	0.43mi

Listing history 13 events

1. 2026-04-30
   status Pending
2. 2026-04-22
   listed $189,000 Active
3. 2024-01-02
   price $220,000
4. 2023-12-21
   price $200,000
5. 2023-11-27
   price $194,900
6. 2023-11-20
   price $199,900
7. 2023-11-17
   price $224,900
8. 2023-11-13
   price $234,900
9. 2023-11-05
   price $244,900
10. 2019-04-09
    soldstatus $72,164
11. 2019-04-08
    soldstatus $72,164 283-char remark

    Show marketing remark (283 chars)

    Located close to the colleges and downtown. A great opportunity for investors with both apartments rented and long term leases. Owner has repaired roof, upgraded electric and is completing updating first floor apartment. The property will meet or exceed your financial expectations!

12. 2018-02-27
    listed $74,999 283-char remark

    Show marketing remark (283 chars)

    Located close to the colleges and downtown. A great opportunity for investors with both apartments rented and long term leases. Owner has repaired roof, upgraded electric and is completing updating first floor apartment. The property will meet or exceed your financial expectations!

13. 2012-04-12
    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 · 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 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: $37,272
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,982
• − Management: −$2,982
• − Depreciation: −$5,498
• Taxable income: $11,443
• Est. tax owed @ 24.0%: −$2,746
• After-tax cash flow: $11,025/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

+243.6% since first listed

13 events — show timeline

• 2026-04-30 Pending — PMAR
• 2026-04-22 Listed $189,000 PMAR
• 2024-01-02 Price Changed $220,000 GSBR as distributed by MLS GRID
• 2023-12-21 Price Changed $200,000 GSBR as distributed by MLS GRID
• 2023-11-27 Price Changed $194,900 GSBR as distributed by MLS GRID
• 2023-11-20 Price Changed $199,900 GSBR as distributed by MLS GRID
• 2023-11-17 Price Changed $224,900 GSBR as distributed by MLS GRID
• 2023-11-13 Price Changed $234,900 GSBR as distributed by MLS GRID
• 2023-11-05 Price Changed $244,900 GSBR as distributed by MLS GRID
• 2019-04-09 Sold (Public Records) $72,164 Public Records
• 2019-04-08 Sold (MLS) $72,164 LCAR
• 2018-02-27 Listed $74,999 LCAR
• 2012-04-12 Sold (Public Records) $55,000 Public Records

Property tax history

+16.4%/yr

Latest (2026): $12,467 · +0.1% YoY. Source: county tax records.