429 A&B Melrose Ave Unit A & B · Clarks Summit, PA 18411

$259,500

4 bd · 3.0 ba · 2,293 sqft · MultiFamily · 40 Days on market

Built 1950 Good condition 7,405 sqft lot $113/sqft · 6% below area Est $277k · 6% under ↓ 7% since listing

---

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 +28.0/30.0
• ARV discount +10.4/15.0
• DSCR +9.9/10.0
• 1% rule +7.7/10.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• 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

* * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

Key facts

• Washer dryer
• Remodeled kitchen
• New gutters

Tags

• REMODELED KITCHEN
• FENCED IN BACK YARD
• WASHER DRYER
• NEW ELECTRIC BASEBOARDS
• NEW GUTTERS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $803 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.2% in Clarks Summit — 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 83/100 on livability (#118 in PA, #913 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Abington Heights SD (rural): math 50% / reading 73% proficiency, ranked #56 of 539 in PA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 126 active listings in the ZIP; solid renter incomes; 251 units permitted in Lackawanna County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lackawanna County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $251,715 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 1.27% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.27%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $277,410
• List price: $259,500
• Delta: -6.46%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Greenwood Ave	0.08mi	5/2.0 (+1)	2,300 (+0%)	5mo	$210,000	$91	82

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $9,167
• Equity at exit: $38,692

10-year hold

• IRR: 12.8%
• Equity multiple: 2.02×
• Total profit: $74,071
• Equity at exit: $22,437

Cash invested: $72,660 (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 18411

• Active inventory: 126
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,287 high
• Mortgage (P&I): −$1,361
• Tax est. 1.5%: −$324 /mo · $3,892/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $803

Break-even live

Break-even rent $2,270

Max offer price $259,500

Occupancy floor 71%

Sensitivity live

Price	-10% $983	-5% $893	+0% $803	+5% $714	+10% $624
Rent	-10% $544	-5% $674	+0% $803	+5% $933	+10% $1,063
Rate	-1.0pp $934	-0.5pp $869	base $803	+0.5pp $736	+1.0pp $668

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,804
1× unit	1	2	$1,484
Total (2 units)			$3,287

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: $64,875
• Closing costs: $7,785
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-14
   price $259,500 1122-char remark

   Show marketing remark (1122 chars)

   * * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

2. 2026-05-05
   price $269,500 1122-char remark

   Show marketing remark (1122 chars)

   * * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

3. 2026-04-12
   listed $279,500 Active 1122-char remark

   Show marketing remark (1122 chars)

   * * * JUST APPRAISED AT $300,000! * * * (NOTE: PLEASE SCHEDULE SHOWINGS ON SATURDAY BETWEEN 12:00 AND 2:00 IF POSSIBLE) Front unit has 3 bedrooms, plus a den/office that has been used as a 4th bedroom. Nice sized kitchen and front porch. Back unit has been fixed up and shows very well. It has a remodeled kitchen and full bathroom downstairs, with large living room and kitchenette. Upstairs is another full bath with a large single bedroom. Back unit opens to a fenced-in back yard. Both units have washer dryer hookup. Heat is electric, and has been split. Water and septic are combined. Housing in Clarks Summit (Abington Heights SD) typically has multiple rental applications from tenants so it has been very easy to fill - especially in this neighborhood. Owner is selling in order to consolidate into fewer properties in preparation for retirement, so looking for a quick sale. Back unit just became empty after 5 years. Front unit is a long-term tenant, who has been willing to perform a lot of routine maintenance himself. New electric baseboards were just installed, along with all new gutters. Solid rental.

ⓘ 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 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,444
• − Mortgage interest: −$14,536
• − Property taxes: −$3,892
• − Insurance: −$1,298
• − Repairs & maintenance: −$3,156
• − Management: −$3,156
• − Depreciation: −$7,549
• Taxable income: $5,858
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $8,235/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 · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with cosmetic updates, ready for rental or resale.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace worn-out flooring — Improves living space and value
• Both Update kitchen countertops — Modernizes kitchen and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace worn-out flooring — Improves living space and value ↑
• Both Update kitchen countertops — Modernizes kitchen and adds value ↑

ⓘ 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: Abington Heights SD
• NCES district ID: 4202010
• Math proficiency: 50% ▼ -11.00%
• Reading proficiency: 73% ▼ -6.00%
• Median HH income: $72,490
• Composite: 54.38/100
• National rank: #1358
• State rank: #56 of 539 in PA

Livability — Clarks Summit

• Score: 83/100
• State rank: #118
• US rank: #913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarks Summit, PA
• County: Lackawanna County · 134,448 people
• City population: 22,820
• Metro: Scranton--Wilkes-Barre, PA
• Population (ZIP): 22,820
• Household income: $98,824
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 409.0

Population outlook (Lackawanna County) Hauer SSP2

• Today (2025): 210,652 people
• By 2030: 208,623 · -1.0%
• By 2040: 203,980 · -3.2%
• By 2050: 201,069 · -4.5%
• By 2075: 205,026 · -2.7%
• By 2100: 210,851 · +0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 4% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Other Indo-European 3% Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Lackawanna

• 2024 margin: Toss-up / Even · D 51.0% · R 48.3%
• 2008→2024 swing: -23.2pp toward R · 2008: 26.0pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+8.4 2016: D+3.4 2012: D+27.4 2008: D+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.03%
• Current HPI: 189.2345
• Rent YoY: —
• 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

-7.2% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $259,500 GSBR as distributed by MLS GRID
• 2026-05-05 Price Changed $269,500 GSBR as distributed by MLS GRID
• 2026-04-12 Listed $279,500 GSBR as distributed by MLS GRID