311 N Main St · Wilkes-Barre, PA 18702

$425,000

9 bd · 3.9 ba · 2,733 sqft · MultiFamily public records · 32 Days on market

Built 1900 Est $380k · 12% over

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Why this score? — see what drove the D- 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 +15.5/30.0
• 1% rule +5.1/10.0
• DSCR +4.8/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to 311 North Main St, a beautifully renovated multi-family property. Ideally located near Downtown Wilkes-Barre, convenient access to major highways and nearby colleges such as Wilkes University, King & acirc; & euro; & trade; s College, and Misericordia University further enhances the property & acirc; & euro; & trade; s rental appeal and investment value. Offering a prime investment opportunity with strong, consistent cash flow, blending modern upgrades with timeless charm. The interior showcase an open and airy feel with abundant natural light, luxury-style flooring, fresh neutral paint, recessed lighting and modern finishes that create a clean contemporar

Key facts

• Quartz countertops
• Renovated kitchens
• Nearby colleges

Tags

• NEARBY COLLEGES
• ABUNDANT NATURAL LIGHT
• LUXURY-STYLE FLOORING
• RENOVATED KITCHENS
• QUARTZ COUNTERTOPS
• FULLY UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive. Per door: $57/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — 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.
• Zoned schools: Daniel J Flood El Sch (math 12% / reading 27%, grade F, #1,276 of 1,518 statewide, top 85%, 592 students, 100% FRL); Solomon/Plains Ms (math 2% / reading 27%, grade F, #475 of 512 statewide, top 93%, 736 students, 100% FRL) — zoned schools average 100% FRL vs 61% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.8%/yr); 225 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $4,288/mo this rent would consume 91% 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 $3k of loan paydown is wiped out by about $13k 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.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $425k implies a 591% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $412,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $379,887
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
354 Main St	0.09mi	8/3.0 (-1)	2,880 (+5%)	3mo	$400,000	$139	76
43 45 Madison St	0.16mi	9/6.0	2,442 (-11%)	18mo	$275,000	$113	52
43-45 Madison St	0.17mi	10/6.5 (+1)	2,442 (-11%)	18mo	$275,000	$113	44
54 56 Pearl St	0.51mi	8/4.0 (-1)	2,406 (-12%)	11mo	$336,000	$140	42

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: -8.9%
• Equity multiple: 0.66×
• Total profit: $-40,512
• Equity at exit: $63,369

10-year hold

• IRR: 5.4%
• Equity multiple: 1.47×
• Total profit: $56,158
• Equity at exit: $36,746

Cash invested: $119,000 (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 18702

• Rents YoY: 6.8%
• Active inventory: 225
• Price-to-rent: 24.8×

Monthly cashflow live

• Estimated rent: $4,288 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$810 /mo · $9,724/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$900
• Net cashflow: $171

Break-even live

Break-even rent $4,071

Max offer price $425,000

Occupancy floor 91%

Sensitivity live

Price	-10% $412	-5% $292	+0% $171	+5% $51	+10% $-69
Rent	-10% $-167	-5% $2	+0% $171	+5% $341	+10% $510
Rate	-1.0pp $385	-0.5pp $279	base $171	+0.5pp $61	+1.0pp $-51

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$4,287
Total (3 units)			$4,288

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $425,000 Active 32 DOM
2. 2026-06-18
   days on market $425,000 Active 29 DOM
3. 2026-06-17
   days on market $425,000 Active 28 DOM
4. 2026-06-16
   days on market $425,000 Active 27 DOM
5. 2026-06-15
   days on market $425,000 Active 26 DOM
6. 2026-06-14
   days on market $425,000 Active 24 DOM
7. 2026-06-13
   days on market $425,000 Active 23 DOM
8. 2026-06-10
   days on market $425,000 Active 21 DOM
9. 2026-06-09
   days on market $425,000 Active 20 DOM
10. 2026-06-08
    days on market $425,000 Active 19 DOM
11. 2026-06-07
    days on market $425,000 Active 18 DOM
12. 2026-06-02
    days on market $425,000 Active 13 DOM
13. 2026-06-01
    days on market $425,000 Active 12 DOM
14. 2026-05-31
    days on market $425,000 Active 11 DOM
15. 2026-05-30
    days on market $425,000 Active 10 DOM
16. 2026-05-21
    listed $425,000 Active
17. 2025-11-20
    soldstatus $61,500
18. 2022-06-21
    soldstatus $5,000

ⓘ 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: $9,724 · $810/mo
• Projected year-2 tax: $9,724 · $810/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,456
• − Mortgage interest: −$23,807
• − Property taxes: −$9,724
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,116
• − Management: −$4,116
• − Depreciation: −$12,364
• Taxable loss: −$4,796
• Est. tax savings @ 24.0%: +$1,151
• After-tax cash flow: $3,207/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

+8400.0% since first listed

3 events — show timeline

• 2026-05-21 Listed $425,000 FSBO.com
• 2025-11-20 Sold (Public Records) $61,500 Public Records
• 2022-06-21 Sold (Public Records) $5,000 Public Records

Property tax history

+20.4%/yr

Latest (2026): $9,724 · +0.1% YoY. Source: county tax records.