119-121 Wyoming St · Wilkes-Barre, PA 18705

$189,000

None bd · None ba · 2,720 sqft · MultiFamily public records · 5 Days on market

Built 1920 4,791 sqft lot Est $277k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Positioned in the heart of Wilkes-Barre, this duplex presents a high-upside investment opportunity with significant built-in equity. Each unit features 4 bedrooms and 2 bathrooms, offering strong rental potential for large households or shared living arrangements. Substantial amount of work has already been completed, allowing investors to step in and focus on value-adding finishes and design. This property is primed for a strategic investor to maximize returns. Located in a convenient, tenant-friendly area, this is a rare chance to acquire a value-add asset with clear upside, scalable income potential, and built-in equity from day one.

Key facts

• 4,791 sq ft lot
• Built 1920
• Listed 5 days

🏷️ Possibly a rental listed for sale. The $189,000 price doesn't fit this home's estimated sale value (~$277,440) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2-bath units multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $658/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Cap rate 14.6% vs local median 5.7% in Wilkes-Barre — 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: area grade B — 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.
• Market conditions: 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• At $3,318/mo this rent would consume 67% of the median local household income ($59k/yr) (locally 549% 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 $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.76% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $277,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119-121 Wyoming St	0.00mi	—/—	2,720 (0%)	1mo	$165,729	$61	99
289-291 Washington St	0.10mi	6/3.0	2,734 (+0%)	10mo	$330,000	$121	86
354 Main St	0.20mi	8/3.0	2,880 (+6%)	3mo	$400,000	$139	78
392-394 N Washington St	0.14mi	—/2.0	2,564 (-6%)	9mo	$191,000	$74	77
169 Madison St	0.14mi	6/3.0	2,550 (-6%)	9mo	$260,000	$102	76
253 Pennsylvania Ave	0.15mi	6/2.0	2,560 (-6%)	17mo	$217,000	$85	69
276 278 Madison St	0.32mi	7/3.0	2,496 (-8%)	9mo	$238,000	$95	63
43 45 Madison St	0.18mi	9/6.0	2,442 (-10%)	18mo	$275,000	$113	60
257 255 Bowman St	0.45mi	6/2.0	2,569 (-6%)	17mo	$210,000	$82	55
54 56 Pearl St	0.38mi	8/4.0	2,406 (-12%)	11mo	$336,000	$140	54
691 Washington St	0.69mi	3/5.0	2,890 (+6%)	7mo	$235,000	$81	52
14 16 Kulp Ave	0.42mi	7/4.0	3,106 (+14%)	12mo	$345,000	$111	47

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: 24.4%
• Equity multiple: 2.00×
• Total profit: $53,182
• Equity at exit: $28,181

10-year hold

• IRR: 32.2%
• Equity multiple: 3.92×
• Total profit: $154,366
• Equity at exit: $16,341

Cash invested: $52,920 (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 18705

• Home prices YoY: -22.7%
• Active inventory: 74
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,318 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $1,315

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,446	-5% $1,380	+0% $1,315	+5% $1,250	+10% $1,184
Rent	-10% $1,053	-5% $1,184	+0% $1,315	+5% $1,446	+10% $1,577
Rate	-1.0pp $1,410	-0.5pp $1,363	base $1,315	+0.5pp $1,266	+1.0pp $1,216

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$3,318
Total (2 units)			$3,318

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 S Franklin St Wilkes-Barre, PA	3.0	2.0	2400	$3,450	$1.44	22d	1	0.91mi

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   listed $189,000 Active

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 9% 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 6% 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: $39,816
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$3,185
• − Management: −$3,185
• − Depreciation: −$5,498
• Taxable income: $13,580
• Est. tax owed @ 24.0%: −$3,259
• After-tax cash flow: $12,522/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): 15,624
• Household income: $59,344
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 549.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 22% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Dominican 9%
• Common ancestry: Romanian 19% Scotch-Irish 3% Polish 2%
• Foreign-born: 11% · Canada
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -71.77%
• Current HPI: 243.9176
• 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

2 events — show timeline

• 2026-04-28 Pending — PMAR
• 2026-04-22 Listed $189,000 PMAR

Property tax history

+20.4%/yr

Latest (2026): $15,226 · +0.1% YoY. Source: county tax records.