110 Gold Key Rd

Gold Key Lake, PA 18337

$179,900C

2 bd · 1.0 ba · 1,048 sqft · Built 1984 · SingleFamily · Active · 295 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,938/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$332
• HOA: −$119
• Vac / Maint / Mgmt: −$407
• Net cashflow: $136/mo
• Annual: $1,629/yr
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• 1% rule: 1.08%
• Cash to close: $50,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 295 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#789 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, health & safety D, amenities F.
• Delaware Valley SD (rural): math 41% / reading 66% proficiency, ranked #121 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 290 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $180k implies a 126% gain — meaningful room to come down on a strong offer.
• Cap rate 7.2% vs local median 5.9% in Gold Key Lake — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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.