208 N Mulberry St Rear · New Castle, PA 16101

$25,000

3 bd · 1.0 ba · 624 sqft · SingleFamily public records · 105 Days on market

Built 1940 2,874 sqft lot $40/sqft · 48% below area Est $48k · 48% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits, cute cottage like cape cod in need of someone looking for a project.

Key facts

• 2,874 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.2% vs local median 8.7% in New Castle — 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 82/100 on livability (#137 in PA, #1,120 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F, employment F.
• New Castle Area SD (town): math 9% / reading 19% proficiency, ranked #519 of 539 in PA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+20.1%/yr); 118 active listings in the ZIP; 51 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Lawrence County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $21k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 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: 4.68% ✓
• Cap rate: 40.17%
• Cash-on-cash: 120.98%
• DSCR: 6.38
• GRM: 1.8

CMA / ARV

• ARV (median comp): $48,430
• List price: $25,000
• Delta: -48.38%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 Raymond St	0.53mi	2/1.0 (-1)	672 (+8%)	20mo	$38,500	$57	41
126 Park Ave	0.73mi	2/2.0 (-1)	588 (-6%)	11mo	$47,500	$81	38

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.73×
• Total profit: $47,126
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 19.18×
• Total profit: $127,246
• Equity at exit: $2,162

Cash invested: $7,000 (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 16101

• Home prices YoY: -26.3%
• Rents YoY: 20.1%
• Active inventory: 118
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$77 /mo · $927/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $706

Break-even live

Break-even rent $277

Max offer price $25,000

Occupancy floor 35%

Sensitivity live

Price	-10% $720	-5% $713	+0% $706	+5% $699	+10% $692
Rent	-10% $613	-5% $659	+0% $706	+5% $752	+10% $798
Rate	-1.0pp $718	-0.5pp $712	base $706	+0.5pp $699	+1.0pp $693

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $25,000 Active 105 DOM
2. 2026-06-18
   days on market $25,000 Active 104 DOM
3. 2026-06-17
   days on market $25,000 Active 103 DOM
4. 2026-06-16
   days on market $25,000 Active 102 DOM
5. 2026-06-15
   days on market $25,000 Active 101 DOM
6. 2026-06-14
   days on market $25,000 Active 99 DOM
7. 2026-06-12
   days on market $25,000 Active 98 DOM
8. 2026-06-09
   days on market $25,000 Active 95 DOM
9. 2026-06-08
   days on market $25,000 Active 94 DOM
10. 2026-06-07
    days on market $25,000 Active 93 DOM
11. 2026-06-03
    days on market $25,000 Active 89 DOM
12. 2026-06-02
    days on market $25,000 Active 88 DOM
13. 2026-06-01
    days on market $25,000 Active 87 DOM
14. 2026-05-31
    days on market $25,000 Active 86 DOM
15. 2026-05-30
    days on market $25,000 Active 85 DOM
16. 2026-03-06
    listed $25,000 Active 88-char remark

    Show marketing remark (88 chars)

    Opportunity awaits, cute cottage like cape cod in need of someone looking for a project.

17. 2018-08-19
    historical 598-char remark

    Show marketing remark (598 chars)

    Rustic cabin tucked back in the wooded setting yet close to town and bus line. Turn key rental home perfect for the savvy investor or home buyer. Open living room and kitchen concept. Kitchen accented with stone and log beams creating a one of a kind rustic experience that is unique to this home. The main floor master with french doors leading off of the living room showcases a corner fireplace and can also double as a first floor family room. Two additional bedrooms upstairs are nicely sized. Updated mechanicals include a brand new hot water tank installed in 2018. Two car attached garage.

18. 2018-08-17
    soldstatus $21,000 Sold 598-char remark

    Show marketing remark (598 chars)

    Rustic cabin tucked back in the wooded setting yet close to town and bus line. Turn key rental home perfect for the savvy investor or home buyer. Open living room and kitchen concept. Kitchen accented with stone and log beams creating a one of a kind rustic experience that is unique to this home. The main floor master with french doors leading off of the living room showcases a corner fireplace and can also double as a first floor family room. Two additional bedrooms upstairs are nicely sized. Updated mechanicals include a brand new hot water tank installed in 2018. Two car attached garage.

19. 2018-07-26
    status Under Contract 598-char remark

    Show marketing remark (598 chars)

    Rustic cabin tucked back in the wooded setting yet close to town and bus line. Turn key rental home perfect for the savvy investor or home buyer. Open living room and kitchen concept. Kitchen accented with stone and log beams creating a one of a kind rustic experience that is unique to this home. The main floor master with french doors leading off of the living room showcases a corner fireplace and can also double as a first floor family room. Two additional bedrooms upstairs are nicely sized. Updated mechanicals include a brand new hot water tank installed in 2018. Two car attached garage.

20. 2018-07-09
    historical Contingent 598-char remark

    Show marketing remark (598 chars)

    Rustic cabin tucked back in the wooded setting yet close to town and bus line. Turn key rental home perfect for the savvy investor or home buyer. Open living room and kitchen concept. Kitchen accented with stone and log beams creating a one of a kind rustic experience that is unique to this home. The main floor master with french doors leading off of the living room showcases a corner fireplace and can also double as a first floor family room. Two additional bedrooms upstairs are nicely sized. Updated mechanicals include a brand new hot water tank installed in 2018. Two car attached garage.

21. 2018-06-11
    listed $25,000 Active 598-char remark

    Show marketing remark (598 chars)

    Rustic cabin tucked back in the wooded setting yet close to town and bus line. Turn key rental home perfect for the savvy investor or home buyer. Open living room and kitchen concept. Kitchen accented with stone and log beams creating a one of a kind rustic experience that is unique to this home. The main floor master with french doors leading off of the living room showcases a corner fireplace and can also double as a first floor family room. Two additional bedrooms upstairs are nicely sized. Updated mechanicals include a brand new hot water tank installed in 2018. Two car attached garage.

22. 1999-04-01
    soldstatus $16,500

ⓘ 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: $927 · $77/mo
• Projected year-2 tax: $927 · $77/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,042
• − Mortgage interest: −$1,400
• − Property taxes: −$927
• − Insurance: −$125
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$727
• Taxable income: $8,616
• Est. tax owed @ 24.0%: −$2,068
• After-tax cash flow: $6,401/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: New Castle Area SD
• NCES district ID: 4216620
• Math proficiency: 9% ▼ -13.00%
• Reading proficiency: 19% ▼ -23.00%
• Median HH income: $30,967
• Composite: 11.08/100
• National rank: #9736
• State rank: #519 of 539 in PA

Livability — New Castle

• Score: 82/100
• State rank: #137
• US rank: #1120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, PA
• County: Lawrence County · 30,767 people
• City population: 30,767
• Metro: New Castle, PA
• Population (ZIP): 30,767
• Household income: $51,128
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1047.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 81,781 people
• By 2030: 77,978 · -4.7%
• By 2040: 69,522 · -15.0%
• By 2050: 61,344 · -25.0%
• By 2075: 45,027 · -44.9%
• By 2100: 31,305 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Serbian 3% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+33.8) · D 32.8% · R 66.5%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.1pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+29.6 2016: R+28.1 2012: R+9.0 2008: R+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.77%
• Current HPI: 159.3091
• Rent YoY: ▲ 20.05%
• Metro: New Castle, 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

+51.5% since first listed

7 events — show timeline

• 2026-03-06 Listed $25,000 West Penn MLS
• 2018-08-19 Delisted — West Penn MLS
• 2018-08-17 Sold (MLS) $21,000 West Penn MLS
• 2018-07-26 Pending — West Penn MLS
• 2018-07-09 Contingent — West Penn MLS
• 2018-06-11 Listed $25,000 West Penn MLS
• 1999-04-01 Sold (Public Records) $16,500 Public Records

Property tax history

+1.2%/yr

Latest (2025): $927 · -0.5% YoY. Source: county tax records.