724 Ridge St · Honesdale, PA 18431

$157,000

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 20 Days on market

Built 1889 0.69 ac lot Est $195k · 20% under

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Why this score? — see what drove the B- 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 +19.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.2/10.0
• 1% rule +5.5/10.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 2 Bedroom 1 Bath home in Honesdale and very close to schools and shopping. Updated kitchen with stainless steel appliances and spacious dining room open to living room.

Key facts

• Close to schools
• Spacious dining room
• Updated kitchen

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• SPACIOUS DINING ROOM
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: Single family residence; Two levels
• Construction: Vinyl siding; Asphalt roof; Includes finished below-grade area
• Exterior features: Front porch; Sloped lot; Publicly maintained road

Interior

• Kitchen: Refrigerator; Microwave; Gas range; Gas oven
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Eat-in kitchen; Finished walk-out basement
• Laundry & utility: Washer and dryer included; Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $157k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $155k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#1,220 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: amenities F, commute F, employment F.
• Wayne Highlands SD (town): math 48% / reading 64% proficiency, ranked #115 of 539 in PA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% 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 $44k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $157k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,645 (1.5% below list)

Questions for the listing agent

1. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.88%
• DSCR: 1.22
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $195,048
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
771 Ridge St	0.11mi	2/1.5	1,100 (+7%)	5mo	$226,000	$205	78
325 Terrace St	0.08mi	3/1.0 (+1)	1,078 (+4%)	21mo	$150,000	$139	67
310 Ridge St	0.52mi	2/1.0	990 (-4%)	7mo	$143,000	$144	63
4 Beechwood Dr	0.29mi	3/1.5 (+1)	1,112 (+8%)	5mo	$220,000	$198	62
215 Vine St	0.35mi	3/1.0 (+1)	920 (-11%)	1mo	$60,000	$65	60
220 Terrace St	0.29mi	2/1.5	883 (-14%)	1mo	$190,000	$215	59
426 Grove St	0.16mi	3/2.0 (+1)	1,162 (+13%)	6mo	$168,500	$145	58
121 Cottage St	0.65mi	2/1.0	964 (-7%)	20mo	$182,000	$189	42

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: 27.8%
• Equity multiple: 3.21×
• Total profit: $96,933
• Equity at exit: $141,438

10-year hold

• IRR: 24.3%
• Equity multiple: 7.29×
• Total profit: $276,605
• Equity at exit: $305,016

Cash invested: $43,960 (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 18431

• Home prices YoY: 10.6%
• Active inventory: 66
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,652 medium
• Mortgage (P&I): −$823
• Tax from tax record: −$238 /mo · $2,852/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $179

Break-even live

Break-even rent $1,426

Max offer price $157,000

Occupancy floor 84%

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Cliff St Honesdale, PA	3.0	2.0	900	$1,800	$2.00	3d	1	0.58mi
1223 East St Honesdale, PA	2.0	1.0	1170	$1,400	$1.20	13d	1	0.99mi

Listing history 17 events

1. 2026-06-18
   days on market $157,000 Active 20 DOM
2. 2026-06-17
   days on market $157,000 Active 19 DOM
3. 2026-06-16
   days on market $157,000 Active 18 DOM
4. 2026-06-15
   days on market $157,000 Active 17 DOM
5. 2026-06-13
   days on market $157,000 Active 15 DOM
6. 2026-06-12
   days on market $157,000 Active 14 DOM
7. 2026-06-09
   days on market $157,000 Active 11 DOM
8. 2026-06-08
   days on market $157,000 Active 10 DOM
9. 2026-06-08
   days on market $157,000 Active 9 DOM
10. 2026-06-07
    days on market $157,000 Active 8 DOM
11. 2026-06-04
    days on market $157,000 Active 5 DOM
12. 2026-06-02
    days on market $157,000 Active 4 DOM
13. 2026-06-01
    days on market $157,000 Active 3 DOM
14. 2026-05-31
    days on market $157,000 Active 2 DOM
15. 2026-05-28
    listed $157,000 Active
16. 2006-01-05
    soldstatus $80,000
17. 2002-12-18
    soldstatus $58,800

ⓘ 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: $2,852 · $238/mo
• Projected year-2 tax: $2,852 · $238/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $19,823
• − Mortgage interest: −$8,794
• − Property taxes: −$2,852
• − Insurance: −$785
• − Repairs & maintenance: −$1,586
• − Management: −$1,586
• − Depreciation: −$4,567
• Taxable loss: −$347
• Est. tax savings @ 24.0%: +$83
• After-tax cash flow: $2,227/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: Wayne Highlands SD
• NCES district ID: 4224970
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 64% ▼ -10.00%
• Median HH income: $46,476
• Composite: 47.36/100
• National rank: #2292
• State rank: #115 of 539 in PA

Livability — Honesdale

• Score: 64/100
• State rank: #1220
• US rank: #14488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Honesdale, PA
• Population (ZIP): 12,576

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 47,924 people
• By 2030: 46,191 · -3.6%
• By 2040: 42,815 · -10.7%
• By 2050: 39,873 · -16.8%
• By 2075: 34,556 · -27.9%
• By 2100: 28,358 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 3%
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+37.1) · D 31.1% · R 68.2%
• 2008→2024 swing: -24.8pp toward R · 2008: -12.3pp · 2024: -37.1pp
• All cycles: 2024: R+37.1 2020: R+33.6 2016: R+39.7 2012: R+20.9 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.12%
• Current HPI: 313.5221
• 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

+167.0% since first listed

3 events — show timeline

• 2026-05-28 Listed $157,000 PWMLS
• 2006-01-05 Sold (Public Records) $80,000 Public Records
• 2002-12-18 Sold (Public Records) $58,800 Public Records

Property tax history

+4.8%/yr

Latest (2026): $2,852 · +1.9% YoY. Source: county tax records.