Is 101 Bluestone Dr in Hemlock Farms, PA a good investment?

CashFlowRE grades it A with a 10.6% cap rate and $623/mo modeled cash flow at a $172,900 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 101 Bluestone Dr?

The modeled cap rate is 10.6% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,609/month, from CashFlowRE's rent model.

A Composite 88.07

Why this score? — see what drove the A 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 +29.6/30.0
ARV discount +15.0/15.0
1% rule +10.0/10.0
DSCR +10.0/10.0
Appreciation +10.0/10.0
Schools +5.3/10.0
Livability +3.4/5.0
Rent growth +2.5/5.0
Condition / age +2.2/5.0

$172,900

101 Bluestone Dr · Hemlock Farms, PA 18428

3 bd · 1.5 ba · 1,356 sqft · SingleFamily public records · 125 Days on market

Built 1973 Fair condition 0.46 ac lot $128/sqft · 30% below area Est $271k · 36% under $250/mo HOA · 10% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Opportunity for investors, contractors, or buyers with vision! This 3-Bedroom, 2-Bath ranch home in Hemlock Farms offers convenient on-level living with a practical layout and sunroom addition. Being sold as-is, this property offers great potential and is located on a flat corner lot, centrally located to the outdoor pool, clubhouse, and beach - ideal for a full-time residence, vacation getaway, or investment property.

Key facts

Centrally located
Sunroom addition
On level living

What this means for you Summary

Snapshot

This is a 3-bed/1.5-bath single-family listed at $173k. Condition is rated fair.

Deal economics

At list price, monthly cash flow is $623 ($7k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($3k rent vs $173k).
Recommended offer: $152k (12.0% below list) — sets the bar for market timing.
Cap rate 10.6% vs local median 4.7% in Hemlock Farms — 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 68/100 on livability (#884 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: 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.
Zoned schools: Wallenpaupack South El Sch (math 47% / reading 52%, grade D, #654 of 1,518 statewide, top 47%, 255 students, 72% FRL); Wallenpaupack Area Ms (math 23% / reading 57%, grade F, #257 of 512 statewide, top 52%, 644 students, 59% FRL); Wallenpaupack Area Hs (math 74% / reading 67%, grade B+, #48 of 437 statewide, top 11%, 990 students, 62% FRL) — zoned schools average 64% FRL vs 44% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: 556 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
This rent runs 41% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
At projected returns (10.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.
By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

It's been on market 125 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
Current owner paid $80k; list at $173k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $152,152 (12.0% below list)

Questions for the listing agent

It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1973 — 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.
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.

Investment metrics

1% rule: 1.51% ✓
Cap rate: 10.62%
Cash-on-cash: 15.45%
DSCR: 1.69
GRM: 5.5

CMA / ARV

ARV (median comp): $271,168
List price: $172,900
Delta: -36.24%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 Bluestone Ct N Unit 800 Bluestone Court North	0.06mi	3/2.0	1,202 (-11%)	4mo	$276,000	$230	73
109 Bluestone Dr	0.16mi	3/2.0	1,500 (+11%)	6mo	$255,000	$170	68
304 Forest Dr	0.63mi	3/1.5	1,344 (-1%)	5mo	$280,000	$208	65
801 Granite Ct S	0.48mi	3/2.0	1,305 (-4%)	7mo	$283,000	$217	64
123 Basswood Ln E	0.49mi	3/2.0	1,320 (-3%)	11mo	$512,500	$388	61
101 Ridgeway Dr	0.47mi	3/2.0	1,420 (+5%)	9mo	$292,500	$206	61
809 Boulder Ct	0.23mi	3/2.0	1,536 (+13%)	6mo	$620,000	$404	60
104 Boulder Dr	0.32mi	3/2.0	1,536 (+13%)	2mo	$185,000	$120	60
105 Tupelo Dr	0.39mi	3/2.0	1,215 (-10%)	4mo	$360,000	$296	59
111 Blueridge Ln	0.16mi	3/1.0	1,176 (-13%)	12mo	$215,000	$183	58
304 Forest Drive Dr	0.63mi	3/1.5	1,344 (-1%)	14mo	$181,000	$135	58
101 Tupelo Dr	0.45mi	3/2.0	1,536 (+13%)	14mo	$333,000	$217	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

IRR: 35.7%
Equity multiple: 3.77×
Total profit: $134,047
Equity at exit: $155,762

10-year hold

IRR: 30.8%
Equity multiple: 8.52×
Total profit: $363,908
Equity at exit: $335,907

Cash invested: $48,412 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 14 active · 16 under contract
Months of supply: 8.4 mo (12%/mo absorbed)
Median asking: $307,000 ($226/sqft)
Median days on market: 104 d
This list price: lowest-priced of the active set
ARV vs active asking: -11.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 18428

Home prices YoY: 9.2%
Active inventory: 556
Price-to-rent: 5.5×

Monthly cashflow live

Estimated rent: $2,609 high interval (Pro) →
Mortgage (P&I): −$907
Tax from tax record: −$209 /mo · $2,510/yr
Insurance: −$72
HOA: −$250
Lot rent: −$0
Vacancy / Maint / Mgmt: −$548
Net cashflow: $623

Break-even live

Break-even rent $1,820

Max offer price $172,900

Occupancy floor 71%

Sensitivity live

Price	-10% $721	-5% $672	+0% $623	+5% $574	+10% $525
Rent	-10% $417	-5% $520	+0% $623	+5% $726	+10% $829
Rate	-1.0pp $710	-0.5pp $667	base $623	+0.5pp $578	+1.0pp $533

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: $43,225
Closing costs: $5,187
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Bluestone Dr Hawley, PA	3.0	1.5	1840	$2,300	$1.25	10d	1	0.11mi
101 Blueshelf Ln Lords Valley, PA	4.0	2.5	1772	$2,500	$1.41	0d	1	0.27mi
811 Hickory Ct Hawley, PA	3.0	2.0	1100	$2,400	$2.18	19d	1	0.43mi
127 Long Ridge Rd Hawley, PA	2.0	2.0	900	$1,800	$2.00	72d	1	0.50mi
313 Forest Dr Blooming Grove, PA	3.0	2.0	1200	$4,600	$3.83	43d	1	0.65mi
101 Pommel Dr Lords Valley, PA	3.0	2.0	1691	$4,400	$2.60	0d	1	1.29mi

Property features AI

Finance

Other: Located in Hemlock Farms subdivision
HOA & community: Homeowners association with annual feeAnnual association fee of $2,995 (about $249.58/month)Association covers security, trash, snow removalCommunity amenities: pool, indoor pool, clubhouse, fitness center, tennis courts, basketball court, playground, park, trails, picnic area, game room, billiard room, party room, beach access/rights, beach, dog park, exercise course, golf course, fishing

Exterior

Parking: Driveway
Security: Gated community
Utilities: Septic tank
Home design: Single-family manufactured houseOne levelEntry on level 1
Construction: Built as a house/manufactured house
Exterior features: Corner lotWooded lotLevel lotPrivate maintained paved roadPrivate road frontageCommunity lake viewShed(s)

Interior

Kitchen: DishwasherRefrigeratorGas range
Bedrooms: 2 total rooms
Bathrooms: 2 full bathrooms
Heating & cooling: Baseboard heatingPropane heatingElectric heatingWall unit cooling
Interior features: Living room fireplaceCrawl space basementHas view
Laundry & utility: Hall laundry

HOA detail $250/mo · $3,000/yr

Likely covers: pool

Listing history 50 events

2026-09-25

days on market $172,900 Active 125 DOM
2026-09-24

days on market $172,900 Active 124 DOM
2026-09-23

days on market $172,900 Active 123 DOM
2026-09-22

days on market $172,900 Active 122 DOM
2026-09-21

pricedays on market $172,900 Active 121 DOM
2026-09-20

days on market $184,900 Active 120 DOM
2026-09-19

days on market $184,900 Active 119 DOM
2026-09-18

days on market $184,900 Active 118 DOM
2026-09-17

days on market $184,900 Active 117 DOM
2026-09-16

days on market $184,900 Active 116 DOM
2026-09-15

days on market $184,900 Active 115 DOM
2026-09-14

days on market $184,900 Active 114 DOM
2026-09-13

days on market $184,900 Active 113 DOM
2026-09-12

days on market $184,900 Active 112 DOM
2026-09-11

days on market $184,900 Active 111 DOM
2026-09-05

days on market $184,900 Active 105 DOM
2026-09-04

days on market $184,900 Active 104 DOM
2026-09-02

days on market $184,900 Active 102 DOM
2026-08-31

days on market $184,900 Active 100 DOM
2026-08-30

days on market $184,900 Active 99 DOM
2026-08-29

days on market $184,900 Active 98 DOM
2026-08-28

days on market $184,900 Active 97 DOM
2026-08-27

days on market $184,900 Active 96 DOM
2026-08-26

days on market $184,900 Active 95 DOM
2026-08-25

days on market $184,900 Active 94 DOM
2026-08-24

days on market $184,900 Active 93 DOM
2026-08-23

days on market $184,900 Active 92 DOM
2026-08-22

days on market $184,900 Active 91 DOM
2026-08-21

days on market $184,900 Active 90 DOM
2026-08-20

days on market $184,900 Active 89 DOM
2026-08-19

days on market $184,900 Active 88 DOM
2026-08-18

days on market $184,900 Active 87 DOM
2026-08-17

days on market $184,900 Active 86 DOM
2026-08-16

days on market $184,900 Active 85 DOM
2026-08-15

days on market $184,900 Active 84 DOM
2026-08-14

days on market $184,900 Active 83 DOM
2026-08-13

days on market $184,900 Active 82 DOM
2026-08-12

days on market $184,900 Active 81 DOM
2026-08-11

days on market $184,900 Active 80 DOM
2026-08-10

days on market $184,900 Active 79 DOM
2026-08-09

days on market $184,900 Active 78 DOM
2026-08-08

days on market $184,900 Active 77 DOM
2026-08-06

days on market $184,900 Active 75 DOM
2026-08-05

days on market $184,900 Active 74 DOM
2026-08-04

days on market $184,900 Active 73 DOM
2026-08-03

days on market $184,900 Active 72 DOM
2026-07-31

days on market $184,900 Active 69 DOM
2026-07-30

days on market $184,900 Active 68 DOM
2026-07-30

days on market $184,900 Active 67 DOM
2026-07-28

days on market $184,900 Active 66 DOM

ⓘ 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: $2,510 · $209/mo
Projected year-2 tax: $2,621 · $218/mo
Expected delta: +$111/yr (+$9/mo · 4.4%)

ⓘ 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 1/10 Low
🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $31,308
− Mortgage interest: −$9,685
− Property taxes: −$2,510
− Insurance: −$864
− Repairs & maintenance: −$2,505
− Management: −$2,505
− HOA: −$3,000
− Depreciation: −$5,030
Taxable income: $5,209

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$1,250
After-tax cash flow: $6,228/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $33,900–$61,020 screening

This 3-bedroom, 2-bath ranch home in Hemlock Farms requires moderate renovations to improve its condition and appeal to buyers and renters.

Repairs flagged

Major Kitchen cabinets — No photos of kitchen
Major Bathroom fixtures — Dated and worn
Major Paint — Peeling and uneven
Major Landscaping — Overgrown and unkempt

Value-add opportunities

Resale New kitchen cabinets and appliances — Modern kitchen will attract more buyers ↑
Resale Bathroom renovation — Updated bathroom will appeal to potential buyers ↑
Both Painting and touch-up — Fresh paint will improve curb appeal and interior aesthetics ↑
Both Landscaping and yard work — Neat and well-maintained yard will enhance curb appeal and attract tenants ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Wallenpaupack South El Sch D PA #654/1,518 Nat'l #12,785/41,679 Middle Wallenpaupack Area Ms F PA #257/512 Nat'l #6,005/14,009 High Wallenpaupack Area Hs B+ PA #48/437 Nat'l #2,083/17,239

Schools (NCES district)

District: Wallenpaupack Area SD
NCES district ID: 4224750
Math proficiency: 39% ▼ -10.00%
Reading proficiency: 59% ▼ -5.00%
Median HH income: $51,027
Composite: 41.97/100
National rank: #3345
State rank: #192 of 539 in PA

C Composite livability gradescore 68/100

Livability — Hemlock Farms

Score: 68/100
State rank: #884
US rank: #9421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Hemlock Farms, PA
County: Pike · 53,548 people
Population (ZIP): 12,446
Household income: $75,463
Rent vs Own: 18.2% rent · 81.8% own
Severe rent burden: 13% of renters

Population outlook (Pike County) Hauer SSP2

Today (2025): 53,548 people
By 2030: 51,622 · -3.6%
By 2040: 46,490 · -13.2%
By 2050: 40,372 · -24.6%
By 2075: 31,951 · -40.3%
By 2100: 26,821 · -49.9%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (85%)
Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 6% Black 1% Asian 1%
Hispanic origin (detail): Puerto Rican 5%
Common ancestry: Romanian 5% Portuguese 3% Italian 2%
Foreign-born: 5% · Canada
Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Pike

2024 margin: Strong R (+24.1) · D 37.6% · R 61.6%
2008→2024 swing: -19.8pp toward R · 2008: -4.2pp · 2024: -24.1pp
All cycles: 2024: R+24.1 2020: R+19.0 2016: R+26.0 2012: R+11.0 2008: R+4.2

Not yet ingested

Civics: —

Market trends

HPI YoY: ▲ 28.60%
Current HPI: 340.8254
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
#10 Cencora Conshohocken $294.0B #280 Universal Health Services King of Prussia $15.3B
Insurance	2	$27B
#221 Lincoln National Radnor $14.9B #347 Erie Indemnity Erie $11.9B
Telecommunications / Media	1	$124B
#35 Comcast Philadelphia $123.7B
Industrial Distribution	1	$22B
#472 WESCO International Pittsburgh $22.4B
Financial Services	1	$20B
#167 PNC Financial Services Pittsburgh $20.3B
Chemicals / Materials	1	$18B
#178 PPG Industries Pittsburgh $18.1B

Price history

+131.4% since first listed

2 events — show timeline

2026-05-23 Listed $184,900 PWMLS
1996-10-31 Sold (Public Records) $79,900 Public Records

Property tax history

+2.8%/yr

Latest (2026): $2,510 · +3.0% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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