15-17 Thompson St · Wilkes-Barre, PA 18702

$199,900

4 bd · 2.0 ba · 2,346 sqft · MultiFamily public records · 13 Days on market

Built 1900 $85/sqft · 8% below area Est $215k · 7% under

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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 +29.2/30.0
• ARV discount +10.7/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Calling all investors! Here is a two unit apartment style duplex with front shared covered entry porch; nice size yard. Each unit has livingroom, diningroom, kitchen, 2 bedrooms, bath and laundryroom, and an enclosed porch. Vacant, so live in one side, and rent the other! Separate electrical panels. Full walk up attic, full basement.

Key facts

• Nice size yard
• Full walk up attic
• Two unit apartment

Tags

• TWO UNIT APARTMENT
• SHARED COVERED ENTRY PORCH
• NICE SIZE YARD
• ENCLOSED PORCH
• SEPARATE ELECTRICAL PANELS
• FULL WALK UP ATTIC

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive. Per door: $347/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 10.5% 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; 1 comparable units currently listed for rent nearby; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $2,628/mo this rent would consume 56% 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 $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $199,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (median comp): $215,060
• List price: $199,900
• Delta: -7.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13-15 John St	0.02mi	4/4.0	2,400 (+2%)	18mo	$165,000	$69	72
53-55 Schoolhouse Ln	0.40mi	4/2.0	2,076 (-12%)	13mo	$226,000	$109	51
801 Washington St	0.69mi	5/3.0 (+1)	2,392 (+2%)	16mo	$237,000	$99	42
742 742 REAR Pennsylvania Ave	0.52mi	4/2.0	2,058 (-12%)	21mo	$155,000	$75	38

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: 9.7%
• Equity multiple: 1.40×
• Total profit: $22,435
• Equity at exit: $29,806

10-year hold

• IRR: 21.9%
• Equity multiple: 3.21×
• Total profit: $123,505
• Equity at exit: $17,284

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 18702

• Rents YoY: 6.8%
• Active inventory: 221
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,628 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $695

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 69%

Sensitivity live

Price	-10% $833	-5% $764	+0% $695	+5% $626	+10% $557
Rent	-10% $487	-5% $591	+0% $695	+5% $798	+10% $902
Rate	-1.0pp $795	-0.5pp $745	base $695	+0.5pp $643	+1.0pp $590

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,628
Total (2 units)			$2,628

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 S Franklin St Wilkes-Barre, PA	3.0	2.0	2400	$3,450	$1.44	21d	1	1.15mi

Listing history 3 events

1. 2026-05-13
   status Active 338-char remark

   Show marketing remark (338 chars)

   Calling all investors! Here is a two unit apartment style duplex with front shared covered entry porch; nice size yard. Each unit has livingroom, diningroom, kitchen, 2 bedrooms, bath and laundryroom, and an enclosed porch. Vacant, so live in one side, and rent the other! Separate electrical panels. Full walk up attic, full basement.

2. 2026-04-28
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Calling all investors! Here is a two unit apartment style duplex with front shared covered entry porch; nice size yard. Each unit has livingroom, diningroom, kitchen, 2 bedrooms, bath and laundryroom, and an enclosed porch. Vacant, so live in one side, and rent the other! Separate electrical panels. Full walk up attic, full basement.

3. 2026-04-21
   listed $199,900 Active 338-char remark

   Show marketing remark (338 chars)

   Calling all investors! Here is a two unit apartment style duplex with front shared covered entry porch; nice size yard. Each unit has livingroom, diningroom, kitchen, 2 bedrooms, bath and laundryroom, and an enclosed porch. Vacant, so live in one side, and rent the other! Separate electrical panels. Full walk up attic, full basement.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,536
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,523
• − Management: −$2,523
• − Depreciation: −$5,815
• Taxable income: $5,479
• Est. tax owed @ 24.0%: −$1,315
• After-tax cash flow: $7,021/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

3 events — show timeline

• 2026-05-13 Relisted — LCAR
• 2026-04-28 Pending — LCAR
• 2026-04-21 Listed $199,900 LCAR

Property tax history

+20.4%/yr

Latest (2026): $11,619 · +0.1% YoY. Source: county tax records.