143-145 Parrish St · Wilkes-Barre, PA 18702

$350,000

8 bd · 5.0 ba · 8,400 sqft · MultiFamily · 6 Days on market

Fair condition 5,000 sqft lot $42/sqft · 23% below area Est $453k · 23% under

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Why this score? — see what drove the C- 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 +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Bring this building back to it's glory days! 5 units with separate utilities. First floor has one, two bedroom owner occupied unit, one former commercial unit that is vacant. Two second floor units are tenant occupied with month to month leases. Third floor has approx 2800 sq feet vacant unit. Each unit has 2 bedrooms with potential to expand. Renovations and remodeling needed. Large units.

Key facts

• 5,000 sq ft lot
• Listed 6 days

Property features AI

Finance

• Other: Lot approximately 50' x 100'
• Financial info: Annual tax amount reported

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Commercial zoning
• Construction: Stucco exterior
• Exterior features: Front porch

Interior

• Heating & cooling: Natural gas forced-air heating
• Interior features: Gas water heater

🏷️ Possibly a rental listed for sale. The $350,000 price doesn't fit this home's estimated sale value (~$453,413) 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/2.5-bath units multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive. Per door: $136/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $341k (2.7% below list).
• Recommended offer: $341k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.6% in Wilkes-Barre — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade C — 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: Dodson El Sch (math 2% / reading 22%, grade F, #1,362 of 1,518 statewide, top 92%, 486 students, 100% FRL); G A R Ms (math 17% / reading 22%, grade F, #444 of 512 statewide, top 87%, 1,026 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 $3,406/mo this rent would consume 72% 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 $2k of loan paydown is wiped out by about $10k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $340,600 (2.7% below list)

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 0.97% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.33%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (median comp): $453,413
• List price: $350,000
• Delta: -22.81%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.84% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.74×
• Total profit: $-25,675
• Equity at exit: $52,186

10-year hold

• IRR: 7.0%
• Equity multiple: 1.62×
• Total profit: $60,860
• Equity at exit: $30,262

Cash invested: $98,000 (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: 17.1×

Monthly cashflow live

• Estimated rent: $3,406 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $272

Break-even live

Break-even rent $3,062

Max offer price $350,000

Occupancy floor 87%

Sensitivity live

Price	-10% $514	-5% $393	+0% $272	+5% $151	+10% $30
Rent	-10% $3	-5% $137	+0% $272	+5% $407	+10% $541
Rate	-1.0pp $448	-0.5pp $361	base $272	+0.5pp $181	+1.0pp $89

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2.5	$3,406
Total (2 units)			$3,406

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-18
   status Pending 393-char remark
2. 2026-05-12
   listed $350,000 Active 393-char remark

ⓘ 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) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $40,872
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,270
• − Management: −$3,270
• − Depreciation: −$10,182
• Taxable loss: −$2,455
• Est. tax savings @ 24.0%: +$589
• After-tax cash flow: $3,853/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

Fair 45/100 Extensive rehab

This multi-family property requires extensive renovations and updates to bring it back to its glory days. Significant improvements in exterior and interior paint, kitchen appliances, and bathroom fixtures would significantly enhance its resale and rental value.

Repairs flagged

• Major exterior paint — Peeling paint
• Major interior paint — Signs of wear
• Major kitchen appliances — Outdated and cluttered
• Major bathroom fixtures — Basic and outdated
• Major flooring — Worn-out carpets
• Major HVAC cleaning — Needs cleaning and maintenance

Value-add opportunities

• Both Painting and updating interior — Enhances curb appeal and interior aesthetics
• Both Upgrading kitchen appliances — Improves functionality and appeal
• Both Upgrading bathroom fixtures — Enhances functionality and appeal
• Both Replacing worn-out carpets — Improves comfort and aesthetics
• Both Cleaning and maintaining HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint	Major	$15,000–50,000
interior paint · Signs of wear	Major	$15,000–50,000
kitchen appliances · Outdated and cluttered	Major	$15,000–50,000
bathroom fixtures · Basic and outdated	Major	$15,000–50,000
flooring · Worn-out carpets	Major	$15,000–50,000
HVAC cleaning · Needs cleaning and maintenance	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Painting and updating interior — Enhances curb appeal and interior aesthetics ↑
• Both Upgrading kitchen appliances — Improves functionality and appeal ↑
• Both Upgrading bathroom fixtures — Enhances functionality and appeal ↑
• Both Replacing worn-out carpets — Improves comfort and aesthetics ↑
• Both Cleaning and maintaining HVAC system — Improves comfort and energy efficiency ↑

ⓘ 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: 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

2 events — show timeline

• 2026-05-18 Pending — LCAR
• 2026-05-12 Listed $350,000 LCAR