212 Lakeshore Dr

Wallenpaupack Lake Estates, PA 18438

$389,000B

3 bd · 2.0 ba · 1,692 sqft · Built 1951 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,000/mo
• Mortgage (P&I): −$2,040
• Tax + insurance: −$396
• HOA: −$0
• Vac / Maint / Mgmt: −$1,050
• Net cashflow: $1,514/mo
• Annual: $18,173/yr
• Cap rate: 10.96%
• Cash-on-cash: 16.68%
• DSCR: 1.74
• 1% rule: 1.29%
• Cash to close: $108,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $389k.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $389k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $18k of equity ($3k loan paydown + $16k appreciation (4.0% local appreciation)).
• Location reads 68/100 on livability (#896 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: schools D+, amenities F, commute F.
• Wallenpaupack Area SD (rural): math 39% / reading 59% proficiency, ranked #192 of 539 in PA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 29 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $180k; list at $389k implies a 116% gain — meaningful room to come down on a strong offer.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 11.0% vs local median 2.4% in Wallenpaupack Lake Estates — 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.

Questions for listing agent

• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.