135 137 Poplar St · Wilkes-Barre, PA 18702

$280,000

8 bd · 5.0 ba · 2,672 sqft · MultiFamily public records · 57 Days on market

Built 1940 $105/sqft · 28% above area Est $246k · 14% over

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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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +1.3/15.0
• 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 MLS

Great value-add opportunity! Three-unit property priced like a duplex--perfect for investors looking to restore and generate strong rental income. Property offers a newer roof, gas heat, enclosed yard, and is ideally located close to shops and public transportation.

Key facts

• Newer roof
• Gas heat
• Close to shops

Tags

• NEWER ROOF
• GAS HEAT
• ENCLOSED YARD
• CLOSE TO SHOPS
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive. Per door: $279/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.7% 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 C — 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 $3,156/mo this rent would consume 67% 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 $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $235k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $271,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.13% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.54%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $246,301
• List price: $280,000
• Delta: 13.68%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100-102 Westminster St	0.49mi	7/2.0 (-1)	2,682 (+0%)	5mo	$155,000	$58	55
110 112 Regent St	0.48mi	8/2.0	2,688 (+1%)	18mo	$228,375	$85	50
291 Parrish St	0.42mi	7/3.0 (-1)	2,600 (-3%)	16mo	$135,000	$52	49
69 Carlisle St	0.71mi	8/3.0	2,885 (+8%)	23mo	$220,000	$76	27

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 · 6.84% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $2,893
• Equity at exit: $41,749

10-year hold

• IRR: 14.1%
• Equity multiple: 2.34×
• Total profit: $104,741
• Equity at exit: $24,209

Cash invested: $78,400 (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: 14.8×

Monthly cashflow live

• Estimated rent: $3,156 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $558

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 77%

Sensitivity live

Price	-10% $752	-5% $655	+0% $558	+5% $461	+10% $365
Rent	-10% $309	-5% $434	+0% $558	+5% $683	+10% $808
Rate	-1.0pp $699	-0.5pp $629	base $558	+0.5pp $486	+1.0pp $412

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,156
Total (2 units)			$3,156

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $280,000 Active 57 DOM
2. 2026-06-17
   days on market $280,000 Active 56 DOM
3. 2026-06-16
   days on market $280,000 Active 55 DOM
4. 2026-06-15
   days on market $280,000 Active 54 DOM
5. 2026-06-14
   days on market $280,000 Active 52 DOM
6. 2026-06-13
   days on market $280,000 Active 51 DOM
7. 2026-06-10
   days on market $280,000 Active 49 DOM
8. 2026-06-09
   days on market $280,000 Active 48 DOM
9. 2026-06-08
   days on market $280,000 Active 47 DOM
10. 2026-06-07
    days on market $280,000 Active 46 DOM
11. 2026-06-02
    days on market $280,000 Active 41 DOM
12. 2026-06-01
    days on market $280,000 Active 40 DOM
13. 2026-05-31
    days on market $280,000 Active 39 DOM
14. 2026-05-30
    days on market $280,000 Active 38 DOM
15. 2026-04-22
    listed $280,000 Active 266-char remark

    Show marketing remark (266 chars)

    Great value-add opportunity! Three-unit property priced like a duplex--perfect for investors looking to restore and generate strong rental income. Property offers a newer roof, gas heat, enclosed yard, and is ideally located close to shops and public transportation.

16. 2023-06-30
    soldstatus $235,000
17. 2023-06-27
    soldstatus $235,000 127-char remark

    Show marketing remark (127 chars)

    2 story 3 unit home. New roof. Fenced in yard. Gas forced heat. Newer Furnaces, walk up attic, wet bar in basement on 135 side.

18. 2023-06-27
    listed $250,000 127-char remark

    Show marketing remark (127 chars)

    2 story 3 unit home. New roof. Fenced in yard. Gas forced heat. Newer Furnaces, walk up attic, wet bar in basement on 135 side.

ⓘ 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 4/10 Moderate 7 d/yr ≥94°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: $37,872
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,030
• − Management: −$3,030
• − Depreciation: −$8,145
• Taxable income: $2,383
• Est. tax owed @ 24.0%: −$572
• After-tax cash flow: $6,127/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: 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

+19.1% since first listed

4 events — show timeline

• 2026-04-22 Listed $280,000 LCAR
• 2023-06-30 Sold (Public Records) $235,000 Public Records
• 2023-06-27 Listed $250,000 LCAR
• 2023-06-27 Sold (MLS) $235,000 LCAR

Property tax history

+20.4%/yr

Latest (2026): $22,108 · +0.1% YoY. Source: county tax records.