186 Parsonage St · Pittston, PA 18640

$185,000

6 bd · 4.0 ba · 2,030 sqft · MultiFamily public records · 59 Days on market

Built 1930 9,000 sqft lot $91/sqft · at area comps Est $189k · at est.

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +8.5/15.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +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: 2 units. confirmed

Listing remarks MLS

Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

Key facts

• 9,000 sq ft lot
• 2 garage spots
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive. Per door: $303/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 6.9% in Pittston — 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 74/100 on livability (#493 in PA, #4,549 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittston Area SD (suburban): math 30% / reading 40% proficiency, ranked #418 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

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 $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1930 — 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. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.04%
• DSCR: 1.62
• GRM: 6.1

CMA / ARV

• ARV (median comp): $189,181
• List price: $185,000
• Delta: -2.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Mill St	0.50mi	5/3.0 (-1)	2,300 (+13%)	23mo	$270,000	$117	26

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $8,717
• Equity at exit: $27,584

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $57,701
• Equity at exit: $15,995

Cash invested: $51,800 (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 18640

• Home prices YoY: -34.9%
• Active inventory: 103
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,518 high
• Mortgage (P&I): −$970
• Tax from tax record: −$336 /mo · $4,032/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $606

Break-even live

Break-even rent $1,751

Max offer price $185,000

Occupancy floor 71%

Sensitivity live

Price	-10% $711	-5% $658	+0% $606	+5% $554	+10% $501
Rent	-10% $407	-5% $506	+0% $606	+5% $705	+10% $805
Rate	-1.0pp $699	-0.5pp $653	base $606	+0.5pp $558	+1.0pp $509

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,518
Total (2 units)			$2,518

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-10
   status Pending 350-char remark

   Show marketing remark (350 chars)

   Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

2. 2026-05-01
   status Active 350-char remark

   Show marketing remark (350 chars)

   Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

3. 2026-04-07
   status Pending 350-char remark

   Show marketing remark (350 chars)

   Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

4. 2026-03-28
   price $185,000 350-char remark

   Show marketing remark (350 chars)

   Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

5. 2026-03-05
   price $189,000 350-char remark

   Show marketing remark (350 chars)

   Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

6. 2026-02-16
   listed $199,000 Active 350-char remark

   Show marketing remark (350 chars)

   Duplex with detached garage, carport and off-street parking in the rear for multiple vehicles. Live-in-one, rent-the-other or from an investment standpoint, the property checks all the right boxes such as separate furnaces, hot water heaters and utilities expect sewer. 1st floor unit: 2 bedrooms, 1 full bath. 2nd floor unit: 1 bedroom, 1 full bath

7. 2025-08-24
   price $217,000
8. 2023-07-21
   soldstatus $168,000
9. 2023-07-07
   soldstatus $168,000 Closed
10. 2023-05-30
    status Pending
11. 2023-05-24
    listed $169,000 Active

ⓘ 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: $4,032 · $336/mo
• Projected year-2 tax: $4,032 · $336/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $30,216
• − Mortgage interest: −$10,363
• − Property taxes: −$4,032
• − Insurance: −$925
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$5,382
• Taxable income: $4,679
• Est. tax owed @ 24.0%: −$1,123
• After-tax cash flow: $6,148/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: Pittston Area SD
• NCES district ID: 4219200
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 40% ▼ -19.00%
• Median HH income: $45,316
• Composite: 29.86/100
• National rank: #6409
• State rank: #418 of 539 in PA

Livability — Pittston

• Score: 74/100
• State rank: #493
• US rank: #4549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittston, PA
• Population (ZIP): 16,418

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Black 4%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 19% Scotch-Irish 2% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Chinese 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: ▼ -102.89%
• Current HPI: 191.973
• Rent YoY: —
• Metro: —
• 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

+9.5% since first listed

11 events — show timeline

• 2026-05-10 Pending — LCAR
• 2026-05-01 Relisted — LCAR
• 2026-04-07 Pending — LCAR
• 2026-03-28 Price Changed $185,000 LCAR
• 2026-03-05 Price Changed $189,000 LCAR
• 2026-02-16 Listed $199,000 LCAR
• 2025-08-24 Price Changed $217,000 LCAR
• 2023-07-21 Sold (Public Records) $168,000 Public Records
• 2023-07-07 Sold (MLS) $168,000 LCAR
• 2023-05-30 Pending — LCAR
• 2023-05-24 Listed $169,000 LCAR

Property tax history

+1.4%/yr

Latest (2026): $4,032 · +4.5% YoY. Source: county tax records.