437 N Courtland St · East Stroudsburg, PA 18301

$800,000

None bd · None ba · 5,214 sqft · MultiFamily · 41 Days on market

Built 1902 Fair condition 7,840 sqft lot $153/sqft · 68% above area

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

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

5 Unit multi-family opportunity in a prime location. Fully occupied, income producing investment, don't miss out. 1- 3Bed, 2 - 2Bed, & 2 - 1Bed units. All within close proximity of major highways, Public transportation, local schools, grocery stores and city amenities.

Key facts

• Grocery stores
• City amenities
• Local schools

Tags

• PRIME LOCATION
• INCOME PRODUCING INVESTMENT
• PUBLIC TRANSPORTATION
• LOCAL SCHOOLS
• GROCERY STORES
• CITY AMENITIES

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $800k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $346/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $800k).
• Recommended offer: $776k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.6% in East Stroudsburg — 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 84/100 on livability (#108 in PA, #833 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• East Stroudsburg Area SD (rural): math 25% / reading 43% proficiency, ranked #413 of 539 in PA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.4%/yr); 199 active listings in the ZIP; solid renter incomes; 278 units permitted in Monroe County in 2024 (52 in 5+ unit buildings).
• At $9,187/mo this rent would consume 122% of the median local household income ($91k/yr) (locally 672% 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 $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Monroe County population projected at -11% 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 $224k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $776,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $476,024
• List price: $800,000
• Delta: 68.06%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.2%
• Equity multiple: 1.13×
• Total profit: $29,183
• Equity at exit: $119,283

10-year hold

• IRR: 17.1%
• Equity multiple: 2.74×
• Total profit: $388,759
• Equity at exit: $69,169

Cash invested: $224,000 (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 18301

• Rents YoY: 10.4%
• Active inventory: 199
• Price-to-rent: 32.1×

Monthly cashflow live

• Estimated rent: $9,187 high
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,929
• Net cashflow: $1,729

Break-even live

Break-even rent $6,998

Max offer price $800,000

Occupancy floor 76%

Sensitivity live

Price	-10% $2,282	-5% $2,006	+0% $1,729	+5% $1,453	+10% $1,176
Rent	-10% $1,003	-5% $1,366	+0% $1,729	+5% $2,092	+10% $2,455
Rate	-1.0pp $2,132	-0.5pp $1,933	base $1,729	+0.5pp $1,522	+1.0pp $1,311

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,076
▸ 2× units	2	1	$3,790
▸ 2× units	1	1	$3,320
Total (5 units)			$9,187

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $800,000 Active 41 DOM
2. 2026-06-19
   days on market $800,000 Active 39 DOM
3. 2026-06-18
   days on market $800,000 Active 38 DOM
4. 2026-06-17
   days on market $800,000 Active 37 DOM
5. 2026-06-16
   days on market $800,000 Active 36 DOM
6. 2026-06-15
   days on market $800,000 Active 35 DOM
7. 2026-06-14
   days on market $800,000 Active 33 DOM
8. 2026-06-13
   days on market $800,000 Active 32 DOM
9. 2026-06-10
   days on market $800,000 Active 30 DOM
10. 2026-06-09
    days on market $800,000 Active 29 DOM
11. 2026-06-08
    days on market $800,000 Active 28 DOM
12. 2026-06-07
    days on market $800,000 Active 27 DOM
13. 2026-06-05
    days on market $800,000 Active 24 DOM
14. 2026-06-02
    days on market $800,000 Active 22 DOM
15. 2026-06-01
    days on market $800,000 Active 21 DOM
16. 2026-05-31
    days on market $800,000 Active 20 DOM
17. 2026-05-30
    days on market $800,000 Active 19 DOM
18. 2026-05-01
    listed $800,000 Active 274-char remark

    Show marketing remark (274 chars)

    5 Unit multi-family opportunity in a prime location. Fully occupied, income producing investment, don't miss out. 1- 3Bed, 2 - 2Bed, & 2 - 1Bed units. All within close proximity of major highways, Public transportation, local schools, grocery stores and city amenities.

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $110,244
• − Mortgage interest: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$4,000
• − Repairs & maintenance: −$8,820
• − Management: −$8,820
• − Depreciation: −$23,273
• Taxable income: $8,520
• Est. tax owed @ 24.0%: −$2,045
• After-tax cash flow: $18,705/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 · 3 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior and interior repairs, including siding, roof, HVAC, and landscaping. Immediate action is needed to improve its condition and increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and discoloration.
• Major roof — Visible damage and lack of uniform appearance.
• Major HVAC units — Old and may need replacement.
• Major landscaping — Sparse and overgrown vegetation, low curb appeal.

Value-add opportunities

• Both exterior siding replacement — Improves curb appeal and property value.
• Both roof repair/replacement — Enhances property value and reduces maintenance costs.
• Both HVAC unit replacement — Improves comfort and energy efficiency, attracting tenants.
• Both landscaping and curb appeal — Enhances property value and attracts tenants by improving curb appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and discoloration.	Major	$15,000–50,000
roof · Visible damage and lack of uniform appearance.	Major	$15,000–50,000
HVAC units · Old and may need replacement.	Major	$15,000–50,000
landscaping · Sparse and overgrown vegetation, low curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior siding replacement — Improves curb appeal and property value. ↑
• Both roof repair/replacement — Enhances property value and reduces maintenance costs. ↑
• Both HVAC unit replacement — Improves comfort and energy efficiency, attracting tenants. ↑
• Both landscaping and curb appeal — Enhances property value and attracts tenants by improving curb 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: East Stroudsburg Area SD
• NCES district ID: 4208670
• Math proficiency: 25% ▼ -11.00%
• Reading proficiency: 43% ▼ -18.00%
• Median HH income: $57,142
• Composite: 30.13/100
• National rank: #6332
• State rank: #413 of 539 in PA

Livability — East Stroudsburg

• Score: 84/100
• State rank: #108
• US rank: #833

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Stroudsburg, PA
• County: Monroe County · 59,057 people
• City population: 28,977
• Metro: East Stroudsburg, PA
• Population (ZIP): 28,977
• Household income: $90,522
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 672.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 164,099 people
• By 2030: 161,412 · -1.6%
• By 2040: 154,616 · -5.8%
• By 2050: 146,710 · -10.6%
• By 2075: 140,830 · -14.2%
• By 2100: 138,472 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 18% Two or more races 10% Asian 2%
• Hispanic origin (detail): Puerto Rican 8% Dominican 3%
• Common ancestry: Romanian 6% Lithuanian 3% Portuguese 1%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 82% English-only · Spanish 9% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Monroe

• 2024 margin: Toss-up / Even · D 49.1% · R 49.9%
• 2008→2024 swing: -17.1pp toward R · 2008: 16.3pp · 2024: -0.8pp
• All cycles: 2024: R+0.8 2020: D+6.4 2016: D+0.3 2012: D+14.0 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.90%
• Current HPI: 154.4762
• Rent YoY: ▲ 10.44%
• Metro: East Stroudsburg, 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

1 event — show timeline

• 2026-05-01 Listed $800,000 PMAR