517-519 Washington St · Freeland, PA 18224

$290,000

16 bd · 16.0 ba · 3,860 sqft · MultiFamily · 113 Days on market

Fair condition 3,201 sqft lot $75/sqft · 9% above area Est $267k · 9% over

---

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
• Appreciation +10.0/10.0
• ARV discount +3.6/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0

Multi-family units

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

Listing remarks MLS

Profitable 4 unit property, fully rented and making money. Separate Electric & water. Natural Gas heat with 4 zones. This property is not suitable for the FHA program.

Key facts

• 3,201 sq ft lot
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $290k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $749/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $290k).
• Recommended offer: $264k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 6.3% in Freeland — 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 61/100 on livability (#1,409 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment 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.
• Zoned schools: Freeland El/Ms (math 8% / reading 27%, grade F, #1,295 of 1,518 statewide, top 86%, 951 students, 100% FRL); Hazleton Area Hs (math 53% / reading 8%, grade F, #347 of 437 statewide, top 79%, 3,795 students, 83% FRL) — zoned schools average 91% FRL vs 60% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 43 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 $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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.
• Current owner paid $168k; list at $290k implies a 73% gain — meaningful room to come down on a strong offer.

Recommended offer $263,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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: 2.18% ✓
• Cap rate: 18.68%
• Cash-on-cash: 44.25%
• DSCR: 2.97
• GRM: 3.8

CMA / ARV

• ARV (median comp): $266,664
• List price: $290,000
• Delta: 8.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 58.8%
• Equity multiple: 5.29×
• Total profit: $348,740
• Equity at exit: $261,255

10-year hold

• IRR: 52.3%
• Equity multiple: 11.80×
• Total profit: $877,204
• Equity at exit: $563,406

Cash invested: $81,200 (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 18224

• Home prices YoY: 9.2%
• Active inventory: 43
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $6,327 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,329
• Net cashflow: $2,994

Break-even live

Break-even rent $2,537

Max offer price $290,000

Occupancy floor 48%

Sensitivity live

Price	-10% $3,195	-5% $3,094	+0% $2,994	+5% $2,894	+10% $2,794
Rent	-10% $2,494	-5% $2,744	+0% $2,994	+5% $3,244	+10% $3,494
Rate	-1.0pp $3,140	-0.5pp $3,068	base $2,994	+0.5pp $2,919	+1.0pp $2,843

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$6,328
Total (4 units)			$6,327

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $290,000 Active 113 DOM
2. 2026-06-18
   days on market $290,000 Active 112 DOM
3. 2026-06-17
   days on market $290,000 Active 111 DOM
4. 2026-06-16
   days on market $290,000 Active 110 DOM
5. 2026-06-15
   days on market $290,000 Active 109 DOM
6. 2026-06-14
   days on market $290,000 Active 107 DOM
7. 2026-06-12
   days on market $290,000 Active 106 DOM
8. 2026-06-09
   days on market $290,000 Active 103 DOM
9. 2026-06-08
   days on market $290,000 Active 102 DOM
10. 2026-06-07
    days on market $290,000 Active 101 DOM
11. 2026-06-02
    days on market $290,000 Active 96 DOM
12. 2026-06-01
    days on market $290,000 Active 95 DOM
13. 2026-05-31
    days on market $290,000 Active 94 DOM
14. 2026-05-30
    days on market $290,000 Active 93 DOM
15. 2026-02-26
    listed $290,000 Active 173-char remark

    Show marketing remark (173 chars)

    Profitable 4 unit property, fully rented and making money. Separate Electric & water. Natural Gas heat with 4 zones. This property is not suitable for the FHA program.

16. 2022-09-15
    soldstatus $167,665 Closed 126-char remark

    Show marketing remark (126 chars)

    Profitable 4 unit home, fully rented long term tenants & making money. Separate Electric & water. Natural Gas heat

17. 2022-07-25
    historical 126-char remark

    Show marketing remark (126 chars)

    Profitable 4 unit home, fully rented long term tenants & making money. Separate Electric & water. Natural Gas heat

18. 2022-07-19
    listed $164,000 126-char remark

    Show marketing remark (126 chars)

    Profitable 4 unit home, fully rented long term tenants & making money. Separate Electric & water. Natural Gas heat

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $75,924
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$6,074
• − Management: −$6,074
• − Depreciation: −$8,436
• Taxable income: $33,295
• Est. tax owed @ 24.0%: −$7,991
• After-tax cash flow: $27,940/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 property requires moderate renovations to improve its curb appeal and interior aesthetics, which would increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Exposed siding and peeling paint
• Major Kitchen appliances — Outdated and cluttered
• Major Bathroom fixtures — Outdated and cluttered
• Major Flooring — Worn carpet and visible damage
• Major Paint — Peeling paint and visible wear

Value-add opportunities

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Replace worn carpet — Improves comfort and reduces maintenance
• Both Replace outdated kitchen appliances — Enhances functionality and appeal
• Both Replace outdated bathroom fixtures — Enhances functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Exposed siding and peeling paint	Major	$15,000–50,000
Kitchen appliances · Outdated and cluttered	Major	$15,000–50,000
Bathroom fixtures · Outdated and cluttered	Major	$15,000–50,000
Flooring · Worn carpet and visible damage	Major	$15,000–50,000
Paint · Peeling paint and visible wear	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace worn carpet — Improves comfort and reduces maintenance ↑
• Both Replace outdated kitchen appliances — Enhances functionality and appeal ↑
• Both Replace outdated bathroom fixtures — Enhances functionality and appeal ↑

ⓘ 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: Hazleton Area SD
• NCES district ID: 4211700
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $42,247
• Composite: 20.44/100
• National rank: #8582
• State rank: #476 of 539 in PA

Livability — Freeland

• Score: 61/100
• State rank: #1409
• US rank: #17813

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeland, PA
• City population: 5,954
• Population (ZIP): 5,954

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 8% Dominican 3%
• Common ancestry: Romanian 13% Scotch-Irish 4% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 87% English-only · Spanish 10% 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: ▲ 22.89%
• Current HPI: 270.8055
• 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

+76.8% since first listed

4 events — show timeline

• 2026-02-26 Listed $290,000 LCAR
• 2022-09-15 Sold (MLS) $167,665 LCAR
• 2022-07-25 Delisted — LCAR
• 2022-07-19 Listed $164,000 LCAR