365 W Patterson St W · Lansford, PA 18232

$229,000

2 bd · 1.0 ba · 840 sqft · MultiFamily public records · 88 Days on market

Built 1930 7,841 sqft lot $273/sqft · 287% above area Est $193k · 19% over

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Why this score? — see what drove the D+ 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 +16.7/30.0
• Appreciation +9.6/10.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

* * * Property is being sold as. Seller will not do any repairs. * * * Present all offers. Secret single hidden in plain sight! Charming ranch with a remodeled kitchen—stainless steel appliances, subway tile, granite counters, wainscoting, and modern flooring. Configured with an in-law suite or rental potential. Many newer windows, first-floor laundry, new back roof (3 yrs). 4 beds, 3 full baths, crown molding throughout. Front porch, 6' x 30' rear deck, and 8 off-street parking spaces. Ready to be discovered — message to schedule a showing!

Key facts

• In-law suite
• Rental potential
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• STAINLESS STEEL APPLIANCES
• SUBWAY TILE
• GRANITE COUNTERS
• IN-LAW SUITE
• RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $229k.

Deal economics

• At list price, monthly cash flow is $77 ($920/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (4.5% below list).
• Recommended offer: $215k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 9.5% in Lansford — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 72/100 on livability (#605 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities D, schools F, commute F.
• Panther Valley SD (rural): math 14% / reading 35% proficiency, ranked #477 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 34 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 180 units permitted in Carbon County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($2k loan paydown + $21k appreciation (9.1% local appreciation)).
• Carbon County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $120k; list at $229k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (median comp): $192,540
• List price: $229,000
• Delta: 18.94%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

9.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.81×
• Total profit: $115,975
• Equity at exit: $191,722

10-year hold

• IRR: 21.1%
• Equity multiple: 6.22×
• Total profit: $334,923
• Equity at exit: $398,863

Cash invested: $64,120 (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 18232

• Home prices YoY: 3.6%
• Active inventory: 34
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $2,188 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$289 /mo · $3,469/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $77

Break-even live

Break-even rent $2,091

Max offer price $229,000

Occupancy floor 91%

Sensitivity live

Price	-10% $206	-5% $142	+0% $77	+5% $12	+10% $-53
Rent	-10% $-96	-5% $-10	+0% $77	+5% $163	+10% $250
Rate	-1.0pp $192	-0.5pp $135	base $77	+0.5pp $17	+1.0pp $-43

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,188
Total (2 units)			$2,188

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 W Ridge St Unit 2A Lansford, PA	1.0	1.0	900	$1,225	$1.36	19d	1	0.30mi
149 W Ridge St Unit 1A Lansford, PA	2.0	1.0	930	$1,350	$1.45	24d	1	0.30mi
149 W Ridge St Unit 2b Lansford, PA	2.0	1.0	875	$1,325	$1.51	24d	1	0.30mi
4 Spring Garden St Apt 2 Lansford, PA	2.0	1.0	850	$875	$1.03	15d	1	0.58mi
215 E High St Coaldale, PA	3.0	1.0	1000	$1,000	$1.00	21d	1	0.64mi
201 E Kline Ave Apt 3 Lansford, PA	2.0	1.0	850	$800	$0.94	3d	1	0.66mi
233 E Ridge St Lansford, PA	2.0	1.0	850	$900	$1.06	15d	1	0.72mi
7 E Phillips St Coaldale, PA	2.0	1.0	950	$1,050	$1.11	24d	1	0.83mi
546 E Kline Ave Lansford, PA	3.0	1.0	1000	$900	$0.90	3d	1	1.06mi
214 N Oak St Unit 2 Summit Hill, PA	3.0	1.0	940	$1,250	$1.33	44d	1	1.19mi
214 N Oak St Unit 2 Summit Hill, PA	3.0	1.0	940	$1,200	$1.28	3d	1	1.19mi
214 N Oak St Summit Hill, PA	3.0	1.0	940	$1,250	$1.33	3d	1	1.19mi
214 N Oak St Unit 2 Summit Hill, PA	3.0	1.0	940	$1,250	$1.33	19d	1	1.19mi
242 E Holland St Summit Hill, PA	2.0	1.0	806	$1,100	$1.36	3d	1	1.40mi

Listing history 21 events

1. 2026-06-18
   days on market $229,000 Active 88 DOM
2. 2026-06-17
   days on market $229,000 Active 87 DOM
3. 2026-06-16
   days on market $229,000 Active 86 DOM
4. 2026-06-15
   days on market $229,000 Active 85 DOM
5. 2026-06-14
   days on market $229,000 Active 83 DOM
6. 2026-06-13
   days on market $229,000 Active 82 DOM
7. 2026-06-10
   days on market $229,000 Active 80 DOM
8. 2026-06-09
   days on market $229,000 Active 79 DOM
9. 2026-06-08
   days on market $229,000 Active 78 DOM
10. 2026-06-07
    days on market $229,000 Active 77 DOM
11. 2026-06-05
    days on market $229,000 Active 74 DOM
12. 2026-06-03
    days on market $229,000 Active 73 DOM
13. 2026-06-02
    days on market $229,000 Active 72 DOM
14. 2026-06-01
    days on market $229,000 Active 71 DOM
15. 2026-05-31
    days on market $229,000 Active 70 DOM
16. 2026-05-31
    days on market $229,000 Active 69 DOM
17. 2026-05-09
    status Active 563-char remark

    Show marketing remark (563 chars)

    * * * Property is being sold as. Seller will not do any repairs. * * * Present all offers. Secret single hidden in plain sight! Charming ranch with a remodeled kitchen—stainless steel appliances, subway tile, granite counters, wainscoting, and modern flooring. Configured with an in-law suite or rental potential. Many newer windows, first-floor laundry, new back roof (3 yrs). 4 beds, 3 full baths, crown molding throughout. Front porch, 6' x 30' rear deck, and 8 off-street parking spaces. Ready to be discovered — message to schedule a showing!

18. 2026-04-29
    status Pending 563-char remark

    Show marketing remark (563 chars)

    * * * Property is being sold as. Seller will not do any repairs. * * * Present all offers. Secret single hidden in plain sight! Charming ranch with a remodeled kitchen—stainless steel appliances, subway tile, granite counters, wainscoting, and modern flooring. Configured with an in-law suite or rental potential. Many newer windows, first-floor laundry, new back roof (3 yrs). 4 beds, 3 full baths, crown molding throughout. Front porch, 6' x 30' rear deck, and 8 off-street parking spaces. Ready to be discovered — message to schedule a showing!

19. 2026-03-12
    listed $229,000 Active 563-char remark

    Show marketing remark (563 chars)

    * * * Property is being sold as. Seller will not do any repairs. * * * Present all offers. Secret single hidden in plain sight! Charming ranch with a remodeled kitchen—stainless steel appliances, subway tile, granite counters, wainscoting, and modern flooring. Configured with an in-law suite or rental potential. Many newer windows, first-floor laundry, new back roof (3 yrs). 4 beds, 3 full baths, crown molding throughout. Front porch, 6' x 30' rear deck, and 8 off-street parking spaces. Ready to be discovered — message to schedule a showing!

20. 2021-07-26
    soldstatus $120,000 546-char remark

    Show marketing remark (546 chars)

    Secret Single hidden in plain site !! This Rancher offers approximately one year old kitchen with stainless steel appliances, subway tile, granite countertop, wainscoting, and modern flooring. The property is currently set up with an in-law suite or possible rental. There are many newer windows, First Floor Laundry, and new oil furnace installed 2018. The home consists of four bedrooms, 3 Full Bathrooms, and accented with Crown Moldings. Enjoy the three season breeze on your front porch, 6' x 30' rear deck, and 8 off street parking spaces !

21. 2021-06-08
    listed $109,000 546-char remark

    Show marketing remark (546 chars)

    Secret Single hidden in plain site !! This Rancher offers approximately one year old kitchen with stainless steel appliances, subway tile, granite countertop, wainscoting, and modern flooring. The property is currently set up with an in-law suite or possible rental. There are many newer windows, First Floor Laundry, and new oil furnace installed 2018. The home consists of four bedrooms, 3 Full Bathrooms, and accented with Crown Moldings. Enjoy the three season breeze on your front porch, 6' x 30' rear deck, and 8 off street parking spaces !

ⓘ 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: $3,469 · $289/mo
• Projected year-2 tax: $3,543 · $295/mo
• Expected delta: +$75/yr (+$6/mo · 2.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,256
• − Mortgage interest: −$12,828
• − Property taxes: −$3,469
• − Insurance: −$1,942
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$6,662
• Taxable loss: −$2,845
• Est. tax savings @ 24.0%: +$683
• After-tax cash flow: $1,603/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: Panther Valley SD
• NCES district ID: 4218450
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $36,914
• Composite: 20.31/100
• National rank: #8613
• State rank: #477 of 539 in PA

Livability — Lansford

• Score: 72/100
• State rank: #605
• US rank: #5834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansford, PA
• County: Carbon County · 13,404 people
• City population: 4,156
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 4,156
• Household income: $44,713
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 123.0

Population outlook (Carbon County) Hauer SSP2

• Today (2025): 61,643 people
• By 2030: 59,840 · -2.9%
• By 2040: 55,413 · -10.1%
• By 2050: 50,843 · -17.5%
• By 2075: 43,326 · -29.7%
• By 2100: 37,126 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Hispanic / Latino 17% Black 11% Two or more races 11% Native American 4%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 4% Polish 2% Iranian 2%
• Foreign-born: 7% · Canada, Jamaica, South Korea
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Carbon

• 2024 margin: Solid R (+34.8) · D 32.2% · R 67.0%
• 2008→2024 swing: -36.7pp toward R · 2008: 1.9pp · 2024: -34.8pp
• All cycles: 2024: R+34.8 2020: R+32.0 2016: R+34.1 2012: R+6.9 2008: D+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.12%
• Current HPI: 262.3396
• Rent YoY: —
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• 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

+110.1% since first listed

5 events — show timeline

• 2026-05-09 Relisted — GLVRMLS
• 2026-04-29 Pending — GLVRMLS
• 2026-03-12 Listed $229,000 GLVRMLS
• 2021-07-26 Sold (MLS) $120,000 GLVRMLS
• 2021-06-08 Listed $109,000 GLVRMLS

Property tax history

+7.9%/yr

Latest (2026): $3,469 · +2.4% YoY. Source: county tax records.