467 2nd St · Harveys Lake, PA 18618

$142,500

3 bd · 2.0 ba · 1,274 sqft · SingleFamily public records · 102 Days on market

Built 1950 0.68 ac lot $112/sqft · 22% below area Est $194k · 27% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Appreciation +5.9/10.0
• Schools +4.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Lovely cape cod style home on over 1/2 acre lot. Cook dinner in your pretty country style kitchen w/ center island or enjoy morning coffee in the heated sun-room. This 3 bedroom, 2 bath home also features a nice sized deck & patio area for entertaining, 1 car detached garage and plenty of off-street parking. Short ride to Harvey's Lake, Dallas Area School District. Don't miss out call today!!

Key facts

• Heated sun-room
• Cape cod style home
• Patio area

Tags

• CAPE COD STYLE HOME
• COUNTRY STYLE KITCHEN
• HEATED SUN-ROOM
• NICE SIZED DECK
• PATIO AREA
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $130k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#923 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, 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.
• Market conditions: 36 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($985 loan paydown + $2k appreciation (1.7% local appreciation)).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $85k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2k; list at $142k implies a 7130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,675 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $194,393
• List price: $142,500
• Delta: -26.69%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Lincoln St	0.66mi	2/1.0 (-1)	1,144 (-10%)	6mo	$219,900	$192	38

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

Projected returns pro-forma

1.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.04×
• Total profit: $41,653
• Equity at exit: $54,034

10-year hold

• IRR: 22.0%
• Equity multiple: 3.84×
• Total profit: $113,196
• Equity at exit: $76,175

Cash invested: $39,900 (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 18618

• Home prices YoY: 0.6%
• Active inventory: 36
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,903 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$164 /mo · $1,973/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $532

Break-even live

Break-even rent $1,229

Max offer price $142,500

Occupancy floor 67%

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-03
   status $142,500 Pending 102 DOM
2. 2026-06-02
   days on market $142,500 Active 102 DOM
3. 2026-06-01
   days on market $142,500 Active 101 DOM
4. 2026-05-31
   days on market $142,500 Active 100 DOM
5. 2026-05-30
   days on market $142,500 Active 99 DOM
6. 2026-04-20
   price $162,500 401-char remark

   Show marketing remark (401 chars)

   Lovely cape cod style home on over 1/2 acre lot. Cook dinner in your pretty country style kitchen w/ center island or enjoy morning coffee in the heated sun-room. This 3 bedroom, 2 bath home also features a nice sized deck & patio area for entertaining, 1 car detached garage and plenty of off-street parking. Short ride to Harvey's Lake, Dallas Area School District. Don't miss out call today!!

7. 2026-04-03
   price $179,000 401-char remark

   Show marketing remark (401 chars)

   Lovely cape cod style home on over 1/2 acre lot. Cook dinner in your pretty country style kitchen w/ center island or enjoy morning coffee in the heated sun-room. This 3 bedroom, 2 bath home also features a nice sized deck & patio area for entertaining, 1 car detached garage and plenty of off-street parking. Short ride to Harvey's Lake, Dallas Area School District. Don't miss out call today!!

8. 2026-03-25
   price $204,900 401-char remark

   Show marketing remark (401 chars)

   Lovely cape cod style home on over 1/2 acre lot. Cook dinner in your pretty country style kitchen w/ center island or enjoy morning coffee in the heated sun-room. This 3 bedroom, 2 bath home also features a nice sized deck & patio area for entertaining, 1 car detached garage and plenty of off-street parking. Short ride to Harvey's Lake, Dallas Area School District. Don't miss out call today!!

9. 2026-02-19
   listed $227,500 Active 401-char remark

   Show marketing remark (401 chars)

   Lovely cape cod style home on over 1/2 acre lot. Cook dinner in your pretty country style kitchen w/ center island or enjoy morning coffee in the heated sun-room. This 3 bedroom, 2 bath home also features a nice sized deck & patio area for entertaining, 1 car detached garage and plenty of off-street parking. Short ride to Harvey's Lake, Dallas Area School District. Don't miss out call today!!

10. 2026-01-30
    soldstatus $1,971
11. 2022-11-18
    price $180,000
12. 2022-11-03
    status Active
13. 2022-10-24
    status Pending
14. 2022-10-09
    listed $185,000 Active
15. 2021-03-11
    soldstatus $159,000
16. 2021-02-10
    soldstatus $159,000
17. 2020-06-23
    listed $157,900

ⓘ 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: $1,973 · $164/mo
• Projected year-2 tax: $2,112 · $176/mo
• Expected delta: +$139/yr (+$12/mo · 7.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,836
• − Mortgage interest: −$7,982
• − Property taxes: −$1,973
• − Insurance: −$712
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$4,145
• Taxable income: $4,370
• Est. tax owed @ 24.0%: −$1,049
• After-tax cash flow: $5,339/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: Dallas SD
• NCES district ID: 4207200
• Math proficiency: 47% ▼ -13.00%
• Reading proficiency: 64% ▼ -11.00%
• Median HH income: $61,760
• Composite: 48.4/100
• National rank: #2138
• State rank: #97 of 539 in PA

Livability — Harveys Lake

• Score: 68/100
• State rank: #923
• US rank: #9992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,583
• Population (ZIP): 3,583

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: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 17% Scotch-Irish 3% Subsaharan African 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 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: ▲ 1.72%
• Current HPI: 314.2169
• 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

+2.9% since first listed

12 events — show timeline

• 2026-04-20 Price Changed $162,500 LCAR
• 2026-04-03 Price Changed $179,000 LCAR
• 2026-03-25 Price Changed $204,900 LCAR
• 2026-02-19 Listed $227,500 LCAR
• 2026-01-30 Sold (Public Records) $1,971 Public Records
• 2022-11-18 Price Changed $180,000 LCAR
• 2022-11-03 Relisted — LCAR
• 2022-10-24 Pending — LCAR
• 2022-10-09 Listed $185,000 LCAR
• 2021-03-11 Sold (Public Records) $159,000 Public Records
• 2021-02-10 Sold (MLS) $159,000 LCAR
• 2020-06-23 Listed $157,900 LCAR

Property tax history

+2.4%/yr

Latest (2026): $1,973 · +3.7% YoY. Source: county tax records.