237 High Pass Way · Emerald Lakes, PA 18372

$230,000

3 bd · 2.5 ba · 912 sqft · Townhouse public records · 4 Days on market

Built 1982 435 sqft lot $42/mo HOA · 2% of rent

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Why this score? — see what drove the D+ 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 +13.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• 1% rule +4.4/10.0
• Schools +4.0/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Perched at the top of the Village at Camelback on the mountainside, this end-unit townhome offers panoramic views and easy ski-down access for the ultimate mountain retreat. The wraparound deck provides the perfect spot to relax and take in the scenery year-round. Inside, the main level features a spacious living room with a free-standing wood-burning stove, soaring ceilings open to the second story, and sliding glass doors leading to the deck. The kitchen and convenient powder room complete the main floor. Upstairs, the loft-style space can serve as a primary bedroom and includes an en-suite bath. The lower level offers two additional bedrooms, a full bath, and a laundry area, providing pl

Key facts

• Ski down access
• Sliding glass doors
• Soaring ceilings

Tags

• PANORAMIC VIEWS
• SKI DOWN ACCESS
• WRAPAROUND DECK
• SOARING CEILINGS
• SLIDING GLASS DOORS
• EN SUITE BATH

Property features AI

Finance

• Other: Located in the Village At Camelback subdivision; directions: take Sullivan Trail to Camelback Road, left into gated community (stop at gate house)
• HOA & community: Homeowners association with annual fee of $499 (about $41.58/month); HOA covers water, sewer, trash, snow removal, security, ground and structure maintenance; Community amenities include clubhouse, indoor pool, spa/hot tub, fitness center, tennis courts, basketball court, and ski access

Exterior

• Parking: Assigned open parking; 2 open parking spaces
• Security: 24-hour security; Gated community
• Utilities: Public water; Public sewer
• Home design: Attached townhouse; 1 common wall; Residential property
• Construction: Raised foundation; Asphalt roof
• Exterior features: Wrap-around porch; Deck; Cleared lot; Private paved road access (private road with road maintenance agreement); Security gate

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher; Trash compactor
• Bedrooms: Total rooms: 6
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Baseboard heating (electric); Ceiling fans; Wall cooling units
• Interior features: High ceilings; Open floorplan; Living room wood-burning free-standing fireplace
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $-12 ($-142/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (5.8% below list).
• Recommended offer: $217k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.0% in Emerald Lakes — 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 67/100 on livability (#974 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools D-, amenities F.
• Pocono Mountain SD (rural): math 37% / reading 55% proficiency, ranked #245 of 539 in PA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 93 active listings in the ZIP; 278 units permitted in Monroe County in 2024 (52 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($2k loan paydown + $-40 appreciation (-0.0% local appreciation)).
• Monroe County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $216,631 (5.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.88×
• Total profit: $-7,550
• Equity at exit: $66,587

10-year hold

• IRR: 3.3%
• Equity multiple: 1.36×
• Total profit: $22,889
• Equity at exit: $79,883

Cash invested: $64,400 (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 18372

• Home prices YoY: -0.0%
• Active inventory: 93
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,166 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$379 /mo · $4,550/yr
• Insurance: −$96
• HOA: −$42
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-12

Break-even live

Break-even rent $2,181

Max offer price $227,917

Occupancy floor 96%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 1 events

1. 2026-05-22
   listed $230,000 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: $4,550 · $379/mo
• Projected year-2 tax: $4,550 · $379/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $25,996
• − Mortgage interest: −$12,884
• − Property taxes: −$4,550
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,080
• − Management: −$2,080
• − HOA: −$504
• − Depreciation: −$6,691
• Taxable loss: −$3,942
• Est. tax savings @ 24.0%: +$946
• After-tax cash flow: $805/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: Pocono Mountain SD
• NCES district ID: 4219500
• Math proficiency: 37% ▼ -5.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $55,317
• Composite: 39.91/100
• National rank: #3856
• State rank: #245 of 539 in PA

Livability — Emerald Lakes

• Score: 67/100
• State rank: #974
• US rank: #10662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,397

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 164,099 people
• By 2030: 161,412 · -1.6%
• By 2040: 154,616 · -5.8%
• By 2050: 146,710 · -10.6%
• By 2075: 140,830 · -14.2%
• By 2100: 138,472 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 60% Black 11% Hispanic / Latino 10% Two or more races 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 9%
• Common ancestry: Romanian 7% Russian 3% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 78% English-only · Other Indo-European 12% Chinese 7% Spanish 3%

Political lean MEDSL · Monroe

• 2024 margin: Toss-up / Even · D 49.1% · R 49.9%
• 2008→2024 swing: -17.1pp toward R · 2008: 16.3pp · 2024: -0.8pp
• All cycles: 2024: R+0.8 2020: D+6.4 2016: D+0.3 2012: D+14.0 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.02%
• Current HPI: 147.7957
• 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

1 event — show timeline

• 2026-05-22 Listed $230,000 PMAR

Property tax history

+1.9%/yr

Latest (2026): $4,550 · +3.4% YoY. Source: county tax records.