201 S Wyoming St

Hazleton, PA 18201

$279,000B

9 bd · 3.9 ba · 2,880 sqft · Built 1960 · MultiFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,653/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$352
• HOA: −$0
• Vac / Maint / Mgmt: −$977
• Net cashflow: $1,861/mo
• Annual: $22,326/yr
• Cap rate: 14.30%
• Cash-on-cash: 28.58%
• DSCR: 2.27
• 1% rule: 1.67%
• Cash to close: $78,120

Investor read

• This is a 3 × 3-bed/?-bath units multifamily listed at $279k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $620/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $279k).
• It's been on market 25 days — a 2% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $275k (1.5% 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 $8k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#930 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime 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: 118 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.
• Current owner paid $10k; list at $279k implies a 2690% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.3% vs local median 4.5% in Hazleton — 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

• 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?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.