213 Boyles Ave · New Castle, PA 16101

$175,000

3 bd · 3.0 ba · — sqft · MultiFamily · 115 Days on market

Built 1974 Good condition 0.41 ac lot

---

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
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Front building has two bays with a 14,000 lb drive on lift. Office area. Rear building has two apartments. Newer roof.

Key facts

• Drive on lift
• Newer roof
• Office area

Tags

• TWO BAYS
• DRIVE ON LIFT
• OFFICE AREA
• TWO APARTMENTS
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 10.1% 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.
• Zoned schools: Harry W Lockley Early Learning Center (775 students, 100% FRL); New Castle Jhs (math 6% / reading 21%, grade F, #482 of 512 statewide, top 94%, 706 students, 100% FRL); New Castle Shs (math 47% / reading 30%, grade F, #280 of 437 statewide, top 64%, 771 students, 100% FRL) — zoned schools average 100% FRL vs 66% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 14% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the New Castle Area SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+20.1%/yr); 121 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 51 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• At $3,024/mo this rent would consume 71% of the median local household income ($51k/yr) (locally 1047% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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 1974 — 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. 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: 1.73% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.89%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $32,579
• List price: $175,000
• Delta: 437.16%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 E Wallace Ave	0.14mi	4/2.0 (+1)	—	10mo	$70,000	—	64
335 Laurel Blvd	0.20mi	4/2.0 (+1)	—	10mo	$65,000	—	61
717 N Mercer St	0.28mi	4/3.0 (+1)	—	12mo	$115,000	—	59
143 & 143.5 E Winter Ave	0.31mi	4/2.0 (+1)	—	8mo	$100,000	—	58
711 Carlisle St	0.12mi	4/2.0 (+1)	—	19mo	$48,200	—	58
347 Shaw St	0.35mi	4/2.0 (+1)	—	8mo	$50,000	—	55
3 E Leasure	0.47mi	2/2.0 (-1)	—	3mo	$69,900	—	54
1009 Highland Ave	0.29mi	4/2.0 (+1)	—	20mo	$71,000	—	48
332 Shaw St	0.37mi	4/2.0 (+1)	—	18mo	$40,000	—	47
1105-1105.5.5 S Mercer St	0.59mi	2/3.0 (-1)	—	24mo	$79,900	—	35
504 Countyline St	0.75mi	4/4.0 (+1)	—	11mo	$80,000	—	34

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: 27.0%
• Equity multiple: 2.20×
• Total profit: $58,605
• Equity at exit: $26,093

10-year hold

• IRR: 37.5%
• Equity multiple: 5.40×
• Total profit: $215,409
• Equity at exit: $15,131

Cash invested: $49,000 (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: 121
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,024 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $1,113

Break-even live

Break-even rent $1,615

Max offer price $175,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,234	-5% $1,174	+0% $1,113	+5% $1,053	+10% $992
Rent	-10% $874	-5% $994	+0% $1,113	+5% $1,233	+10% $1,352
Rate	-1.0pp $1,201	-0.5pp $1,158	base $1,113	+0.5pp $1,068	+1.0pp $1,022

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,024
Total (3 units)			$3,024

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 S Walnut St Apt 2 New Castle, PA	2.0	1.0	—	$725	—	46d	1	0.79mi
419 E Fairmont Ave New Castle, PA	2.0	1.0	—	$1,000	—	46d	1	0.97mi
219 1/2 Friendship St New Castle, PA	3.0	1.0	—	$1,100	—	46d	1	1.15mi
303 Phillips St New Castle, PA	3.0	1.0	—	$725	—	46d	1	1.35mi
325 E Englewood Ave Unit 2 New Castle, PA	2.0	1.0	—	$1,095	—	46d	1	1.35mi
932 Morton St New Castle, PA	3.0	1.0	1440	$1,375	$0.95	46d	1	1.37mi
1119 Agnew St Unit 1119 New Castle, PA	2.0	1.0	—	$775	—	46d	1	1.44mi
1112 Williams St New Castle, PA	2.0	1.0	1026	$1,400	$1.36	46d	1	1.48mi
1214 W Washington St Unit 1 New Castle, PA	2.0	1.0	—	$725	—	46d	1	1.49mi

Listing history 18 events

1. 2026-06-22
   days on market $175,000 Active 115 DOM
2. 2026-06-21
   days on market $175,000 Active 114 DOM
3. 2026-06-19
   days on market $175,000 Active 112 DOM
4. 2026-06-18
   days on market $175,000 Active 111 DOM
5. 2026-06-17
   days on market $175,000 Active 110 DOM
6. 2026-06-16
   days on market $175,000 Active 109 DOM
7. 2026-06-15
   days on market $175,000 Active 108 DOM
8. 2026-06-14
   days on market $175,000 Active 106 DOM
9. 2026-06-12
   days on market $175,000 Active 105 DOM
10. 2026-06-09
    days on market $175,000 Active 102 DOM
11. 2026-06-08
    days on market $175,000 Active 101 DOM
12. 2026-06-07
    days on market $175,000 Active 100 DOM
13. 2026-06-03
    days on market $175,000 Active 96 DOM
14. 2026-06-02
    days on market $175,000 Active 95 DOM
15. 2026-06-01
    days on market $175,000 Active 94 DOM
16. 2026-05-31
    days on market $175,000 Active 93 DOM
17. 2026-05-30
    days on market $175,000 Active 92 DOM
18. 2026-02-27
    listed $175,000 Active 118-char remark

    Show marketing remark (118 chars)

    Front building has two bays with a 14,000 lb drive on lift. Office area. Rear building has two apartments. Newer roof.

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 18 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: $36,288
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$1,672
• − Repairs & maintenance: −$2,903
• − Management: −$2,903
• − Depreciation: −$5,091
• Taxable income: $11,291
• Est. tax owed @ 24.0%: −$2,710
• After-tax cash flow: $10,648/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 · 4 photos

Good 80/100 Cosmetic rehab

This property is in good condition with a cosmetic rehab level, featuring a clean exterior, newer roof, and well-maintained interior. Minor updates like painting and landscaping can significantly enhance its value.

Value-add opportunities

• Both Painting and minor cleaning — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting and minor cleaning — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑

ⓘ 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: 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

1 event — show timeline

• 2026-02-27 Listed $175,000 West Penn MLS