230- Lake Shore North O4 Unit D

Milford, PA 07827

$129,999C

2 bd · 1.0 ba · 936 sqft · Built 1975 · Townhouse · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,662/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$217
• HOA: −$273
• Vac / Maint / Mgmt: −$349
• Net cashflow: $141/mo
• Annual: $1,697/yr
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• 1% rule: 1.28%
• Cash to close: $36,400

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $130k. Condition is rated good.
• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 99 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#255 in PA, #2,230 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, health & safety A+; Watch: cost of living D+, commute F.
• Montague Township School District (rural): math 40% / reading 55% proficiency, ranked #400 of 612 in NJ (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 184 units permitted in Sussex County in 2024 (18 in 5+ unit buildings).
• Sussex County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.6% vs local median 2.4% in Milford — 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

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn appearance and dated design.
• Moderate: Kitchen countertops — Worn appearance and dated design.
• Moderate: Exterior siding — Weathered appearance and could benefit from repainting.
• Minor: Carpet — Some areas show signs of wear, but not severe enough to warrant replacement.