101 Bluestone Dr · Hemlock Farms, PA 18428

$184,900

3 bd · 1.5 ba · 1,356 sqft · SingleFamily public records · 26 Days on market

Built 1973 0.46 ac lot Est $294k · 37% under $250/mo HOA · 7% of rent

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Tags

• ON LEVEL LIVING
• SUNROOM ADDITION
• FLAT CORNER LOT
• CENTRALLY LOCATED

Property features AI

Finance

• Other: Located in Hemlock Farms subdivision
• HOA & community: Homeowners association with annual fee; Annual association fee of $2,995 (about $249.58/month); Association covers security, trash, snow removal; Community 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 house; One level; Entry on level 1
• Construction: Built as a house/manufactured house
• Exterior features: Corner lot; Wooded lot; Level lot; Private maintained paved road; Private road frontage; Community lake view; Shed(s)

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: 2 total rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Propane heating; Electric heating; Wall unit cooling
• Interior features: Living room fireplace; Crawl space basement; Has view
• Laundry & utility: Hall laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 7.1% 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: schools C-, 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.
• Market conditions: 371 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k 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 $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $185k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,126 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.99% ✓
• Cap rate: 15.43%
• Cash-on-cash: 32.63%
• DSCR: 2.45
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $294,252
• Comps found: 12

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%)	1mo	$276,000	$230	75
109 Bluestone Dr	0.16mi	3/2.0	1,500 (+11%)	3mo	$255,000	$170	70
304 Forest Dr	0.63mi	3/1.5	1,344 (-1%)	2mo	$280,000	$208	68
103 Blue Shelf Ln	0.28mi	3/2.0	1,424 (+5%)	12mo	$311,000	$218	67
801 Granite Ct S	0.48mi	3/2.0	1,305 (-4%)	4mo	$283,000	$217	66
123 Basswood Ln E	0.49mi	3/2.0	1,320 (-3%)	8mo	$512,500	$388	64
101 Ridgeway Dr	0.47mi	3/2.0	1,420 (+5%)	6mo	$292,500	$206	63
809 Boulder Ct	0.23mi	3/2.0	1,536 (+13%)	3mo	$620,000	$404	63
105 Tupelo Dr	0.39mi	3/2.0	1,215 (-10%)	0mo	$360,000	$296	62
111 Blueridge Ln	0.16mi	3/1.0	1,176 (-13%)	9mo	$215,000	$183	61
304 Forest Drive Dr	0.63mi	3/1.5	1,344 (-1%)	11mo	$181,000	$135	60
101 Tupelo Dr	0.45mi	3/2.0	1,536 (+13%)	11mo	$333,000	$217	45

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: 48.2%
• Equity multiple: 4.61×
• Total profit: $187,051
• Equity at exit: $166,573

10-year hold

• IRR: 42.0%
• Equity multiple: 10.34×
• Total profit: $483,567
• Equity at exit: $359,220

Cash invested: $51,772 (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 18428

• Home prices YoY: 9.2%
• Active inventory: 371
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,688 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$209 /mo · $2,510/yr
• Insurance: −$77
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$250
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $1,352

Break-even live

Break-even rent $1,976

Max offer price $184,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,457	-5% $1,404	+0% $1,352	+5% $1,300	+10% $1,247
Rent	-10% $1,061	-5% $1,206	+0% $1,352	+5% $1,498	+10% $1,644
Rate	-1.0pp $1,445	-0.5pp $1,399	base $1,352	+0.5pp $1,304	+1.0pp $1,256

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Hickory Ct Hawley, PA	3.0	2.0	1100	$2,500	$2.27	1d	1	0.43mi
313 Forest Dr Blooming Grove, PA	3.0	2.0	1200	$5,000	$4.17	1d	1	0.65mi
101 Pommel Dr Hawley, PA	3.0	2.0	1691	$4,400	$2.60	1d	1	1.29mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-18
   days on market $184,900 Active 26 DOM
2. 2026-06-17
   days on market $184,900 Active 25 DOM
3. 2026-06-16
   days on market $184,900 Active 24 DOM
4. 2026-06-15
   days on market $184,900 Active 23 DOM
5. 2026-06-13
   days on market $184,900 Active 21 DOM
6. 2026-06-13
   days on market $184,900 Active 20 DOM
7. 2026-06-09
   days on market $184,900 Active 17 DOM
8. 2026-06-08
   days on market $184,900 Active 16 DOM
9. 2026-06-07
   days on market $184,900 Active 15 DOM
10. 2026-06-04
    days on market $184,900 Active 12 DOM
11. 2026-06-03
    days on market $184,900 Active 11 DOM
12. 2026-06-02
    days on market $184,900 Active 10 DOM
13. 2026-06-01
    days on market $184,900 Active 9 DOM
14. 2026-05-31
    days on market $184,900 Active 8 DOM
15. 2026-05-23
    listed $184,900 Active
16. 1996-10-31
    soldstatus $79,900

ⓘ 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: $2,716 · $226/mo
• Expected delta: +$206/yr (+$17/mo · 8.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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

Taxation est. · year 1

• Rental income: $44,256
• − Mortgage interest: −$10,357
• − Property taxes: −$2,510
• − Insurance: −$1,591
• − Repairs & maintenance: −$3,540
• − Management: −$3,540
• − HOA: −$3,000
• − Depreciation: −$5,379
• Taxable income: $14,338
• Est. tax owed @ 24.0%: −$3,441
• After-tax cash flow: $12,785/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: 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

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
• Population (ZIP): 12,446

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
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

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.