680 Main Rd

Dallas, PA 18612

$249,500B

15 bd · 9.0 ba · 2,477 sqft · Built — · MultiFamily · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,723/mo
• Mortgage (P&I): −$1,308
• Tax + insurance: −$482
• HOA: −$0
• Vac / Maint / Mgmt: −$992
• Net cashflow: $1,940/mo
• Annual: $23,286/yr
• Cap rate: 15.95%
• Cash-on-cash: 34.47%
• DSCR: 2.53
• 1% rule: 1.89%
• Cash to close: $69,860

Investor read

• This is a 2×5bd/2.0ba + 1×1bd/1.0ba units multifamily listed at $250k. Condition is rated poor.
• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $647/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $250k).
• It's been on market 128 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#393 in PA, #3,573 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Dallas SD (suburban): math 47% / reading 64% proficiency, ranked #97 of 539 in PA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 86 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 6y 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 $130k; list at $250k implies a 92% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.9% vs local median 3.7% in Dallas — 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.

Questions for listing agent

• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Exposed insulation and general disrepair
• Major: Roof — Exposed roof structure and potential water damage
• Major: Flooring — Worn carpet and subfloor damage
• Major: Interior walls/paint — Peeling paint and general wear
• Major: Bathrooms — Visible damage and lack of maintenance
• Major: Kitchen — Visible damage and lack of maintenance