28-30 Sheldon St · Wilkes-Barre, PA 18702

$255,000

10 bd · 5.0 ba · 3,550 sqft · MultiFamily · 6 Days on market

Fair condition 4,935 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• 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

Large, stately side by side double dwelling, located in the Historic Downtown Wilkes Barre residential district! Each side offers 9 rooms with 5 or 6 bedrooms and 1 1/2 baths. Modernized kitchens and baths, ample sized rooms, and attractive appointments on both sides. Three full floors of finished space, plus basements with newer gas furnaces and laundry hookups. Rear yard offers ample parking.

Key facts

• Finished space
• Ample parking
• Modernized kitchens

Tags

• HISTORIC DOWNTOWN WILKES BARRE
• MODERNIZED KITCHENS
• FINISHED SPACE
• AMPLE PARKING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family; Irregular lot approximately 47' x 105'; Zoned for multi-family
• Construction: Vinyl siding
• Exterior features: Front porch

Interior

• Heating & cooling: Natural gas forced-air heating
• Interior features: Gas water heater; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 5-bed/?-bath units multifamily listed at $255k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $785/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Cap rate 14.0% vs local median 5.6% 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; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $4,303/mo this rent would consume 92% 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 $2k of loan paydown is wiped out by about $8k 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 $71k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,000

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.51%
• DSCR: 2.22
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.84% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.07×
• Total profit: $76,088
• Equity at exit: $38,021

10-year hold

• IRR: 34.8%
• Equity multiple: 4.81×
• Total profit: $272,189
• Equity at exit: $22,048

Cash invested: $71,400 (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: 9.9×

Monthly cashflow live

• Estimated rent: $4,303 high
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$904
• Net cashflow: $1,571

Break-even live

Break-even rent $2,315

Max offer price $255,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,747	-5% $1,659	+0% $1,571	+5% $1,483	+10% $1,394
Rent	-10% $1,231	-5% $1,401	+0% $1,571	+5% $1,741	+10% $1,911
Rate	-1.0pp $1,699	-0.5pp $1,636	base $1,571	+0.5pp $1,505	+1.0pp $1,437

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

Units	Beds	Baths	Est. rent
▸ 2× units	5	—	$4,304
Total (2 units)			$4,303

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $255,000 Active 6 DOM
2. 2026-06-17
   days on market $255,000 Active 5 DOM
3. 2026-06-16
   days on market $255,000 Active 4 DOM
4. 2026-06-15
   days on market $255,000 Active 3 DOM
5. 2026-06-13
   remarks 397-char remark
6. 2026-06-13
   listed $255,000 Active 1 DOM

ⓘ 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 7/10 Severe FEMA zone X · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $51,636
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$2,072
• − Repairs & maintenance: −$4,131
• − Management: −$4,131
• − Depreciation: −$7,418
• Taxable income: $15,775
• Est. tax owed @ 24.0%: −$3,786
• After-tax cash flow: $15,062/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family home requires moderate repairs and maintenance to improve its condition and increase its value. Painting, updating the exterior, and landscaping can significantly enhance its curb appeal and attract more buyers or tenants.

Repairs flagged

• Major Front porch railings — Significant damage and missing sections.
• Moderate Exterior siding — Worn and may need repainting or replacement.
• Minor Kitchen countertops — Slight wear, could be refinished or replaced.
• Minor Bathroom tiles — Worn, could be replaced or sealed.
• Minor Paint — Chipped in some areas, could be touched up or repainted.
• Minor Windows — May need cleaning or replacement of seals.
• Minor Landscaping — Overgrown and could benefit from trimming and maintenance.

Value-add opportunities

• Both Painting and updating the exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping and trimming — Improves curb appeal and can attract more potential buyers or tenants.
• Both Kitchen and bathroom updates — Modernizing these spaces can significantly increase the home's value and attract more buyers or tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Front porch railings · Significant damage and missing sections.	Major	$15,000–50,000
Exterior siding · Worn and may need repainting or replacement.	Moderate	$3,000–15,000
Kitchen countertops · Slight wear, could be refinished or replaced.	Minor	$500–3,000
Bathroom tiles · Worn, could be replaced or sealed.	Minor	$500–3,000
Paint · Chipped in some areas, could be touched up or repainted.	Minor	$500–3,000
Windows · May need cleaning or replacement of seals.	Minor	$500–3,000
Landscaping · Overgrown and could benefit from trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 7 items		$20,500–80,000

Value-add ROI direction

• Both Painting and updating the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping and trimming — Improves curb appeal and can attract more potential buyers or tenants. ↑
• Both Kitchen and bathroom updates — Modernizing these spaces can significantly increase the home's value and attract more buyers or tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-12 Listed $255,000 LCAR