116 Locust Dr

Pocono Woodland Lakes, PA 18337

$360,000D-

3 bd · 2.0 ba · 2,912 sqft · Built 1990 · SingleFamily · Pending · 219 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,534/mo
• Mortgage (P&I): −$1,888
• Tax + insurance: −$674
• HOA: −$82
• Vac / Maint / Mgmt: −$532
• Net cashflow: $-642/mo
• Annual: $-7,700/yr
• Cap rate: 4.15%
• Cash-on-cash: -7.64%
• DSCR: 0.66
• 1% rule: 0.70%
• Cash to close: $100,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $360k.
• At list price, monthly cash flow is $-642 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (31.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (29.6% below list).
• It's been on market 219 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $247k (31.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#702 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, schools 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: 297 active listings in the ZIP; 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 since 12y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $190k; list at $360k implies a 89% gain — meaningful room to come down on a strong offer.
• Cap rate 4.2% vs local median 3.3% in Pocono Woodland Lakes — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 33% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 219 days. Have you received any prior offers? Is the seller open to a 31% 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?
• 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?
• 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.