3 Harrison St

Tunkhannock, PA 18657

$163,000D+

4 bd · 1.0 ba · 1,240 sqft · Built — · Other · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,378/mo
• Mortgage (P&I): −$855
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $18/mo
• Annual: $219/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• 1% rule: 0.85%
• Cash to close: $45,640

Investor read

• This is a 4-bed/1.0-bath other listed at $163k.
• At list price, monthly cash flow is $18 ($219/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (15.5% below list).
• It's been on market 112 days — a 9% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (15.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.6%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#371 in PA, #3,219 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A-; Watch: employment D+, amenities F, commute F.
• Tunkhannock Area SD (town): math 29% / reading 43% proficiency, ranked #397 of 539 in PA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 33 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).
• Wyoming County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y 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 $36k; list at $163k implies a 359% gain — meaningful room to come down on a strong offer.
• Cap rate 6.4% vs local median 5.1% in Tunkhannock — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.