307 Grove St · Honesdale, PA 18431

$329,000

5 bd · 2.0 ba · 1,592 sqft · MultiFamily public records · 189 Days on market

Built 1900 0.29 ac lot

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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 +24.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Charming Up & Down Duplex in HonesdaleThis versatile duplex offers two spacious units, one 2 bedroom and the other with 3 bedrooms. Each featuring enclosed back porches perfect for extra storage or year-round use. The upstairs unit boasts a brand-new kitchen with granite countertops and newer appliances, along with a front-facing balcony to enjoy the neighborhood views. The lower unit includes a delightful front porch and plenty of living space for comfort and convenience. Set back on a recessed lot, the property features a large backyard, ample parking, and a detached garage. While the garage needs some work, it offers great potential for additional income as storage rentals or enclo

Key facts

• Front-facing balcony
• Large backyard
• Brand-new kitchen

Tags

• ENCLOSED BACK PORCHES
• BRAND-NEW KITCHEN
• GRANITE COUNTERTOPS
• FRONT-FACING BALCONY
• DELIGHTFUL FRONT PORCH
• LARGE BACKYARD

Property features AI

Finance

• Other: Zoned Residential
• Financial info: Residential income property (multi-family)

Exterior

• Parking: Detached 2-car garage; Driveway; Parking lot
• Utilities: Public water; Public sewer
• Home design: Duplex; Two levels; Residential income / Multi-family property
• Construction: Basement present (unfinished, walk-out access)
• Exterior features: Enclosed rear porch; Screened porch; Front porch; Balcony

Interior

• Kitchen: Microwave, Oven, Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Hot water heating
• Interior features: Microwave, Oven, Refrigerator; Unfinished walk-out basement; Balcony
• Laundry & utility: No laundry hookups listed

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $329k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive. Per door: $346/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#1,220 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: amenities F, commute F, employment F.
• Wayne Highlands SD (town): math 48% / reading 64% proficiency, ranked #115 of 539 in PA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 66 active listings in the ZIP; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $329k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $289,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $208,552
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
247 B Terrace St	0.13mi	4/2.0 (-1)	1,584 (-0%)	12mo	$205,000	$129	78
201 Green St	0.16mi	6/2.0 (+1)	1,752 (+10%)	13mo	$324,900	$185	60
259 Terrace St	0.09mi	4/2.0 (-1)	1,784 (+12%)	13mo	$215,935	$121	60
147 Tryon St	0.63mi	4/2.0 (-1)	1,778 (+12%)	12mo	$232,500	$131	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 30.9%
• Equity multiple: 3.42×
• Total profit: $223,239
• Equity at exit: $296,389

10-year hold

• IRR: 26.7%
• Equity multiple: 7.76×
• Total profit: $622,699
• Equity at exit: $639,175

Cash invested: $92,120 (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 18431

• Home prices YoY: 10.6%
• Active inventory: 66
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $3,600 medium
• Mortgage (P&I): −$1,725
• Tax from tax record: −$290 /mo · $3,475/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $692

Break-even live

Break-even rent $2,724

Max offer price $329,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,800
1× unit	3	1	$1,800
Total (2 units)			$3,600

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $329,000 Active 189 DOM
2. 2026-06-17
   days on market $329,000 Active 188 DOM
3. 2026-06-16
   days on market $329,000 Active 187 DOM
4. 2026-06-15
   days on market $329,000 Active 186 DOM
5. 2026-06-13
   days on market $329,000 Active 184 DOM
6. 2026-06-12
   days on market $329,000 Active 183 DOM
7. 2026-06-09
   remarks 695-char remark
8. 2026-06-09
   listed $329,000 Active 180 DOM

ⓘ 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: $3,475 · $290/mo
• Projected year-2 tax: $4,336 · $361/mo
• Expected delta: +$862/yr (+$72/mo · 24.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $43,200
• − Mortgage interest: −$18,429
• − Property taxes: −$3,475
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,456
• − Management: −$3,456
• − Depreciation: −$9,571
• Taxable income: $3,168
• Est. tax owed @ 24.0%: −$760
• After-tax cash flow: $7,544/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: Wayne Highlands SD
• NCES district ID: 4224970
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 64% ▼ -10.00%
• Median HH income: $46,476
• Composite: 47.36/100
• National rank: #2292
• State rank: #115 of 539 in PA

Livability — Honesdale

• Score: 64/100
• State rank: #1220
• US rank: #14488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Honesdale, PA
• Population (ZIP): 12,576

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 47,924 people
• By 2030: 46,191 · -3.6%
• By 2040: 42,815 · -10.7%
• By 2050: 39,873 · -16.8%
• By 2075: 34,556 · -27.9%
• By 2100: 28,358 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 3%
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+37.1) · D 31.1% · R 68.2%
• 2008→2024 swing: -24.8pp toward R · 2008: -12.3pp · 2024: -37.1pp
• All cycles: 2024: R+37.1 2020: R+33.6 2016: R+39.7 2012: R+20.9 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.12%
• Current HPI: 313.5221
• 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

+143.7% since first listed

4 events — show timeline

• 2026-06-09 Relisted — PWMLS
• 2026-06-09 Price Changed $329,000 PWMLS
• 2025-09-03 Listed $349,000 PWMLS
• 2022-09-02 Sold (Public Records) $135,000 Public Records

Property tax history

+4.3%/yr

Latest (2026): $3,475 · +1.9% YoY. Source: county tax records.