720 Perkins Pond Rd · Narrowsburg, NY 18405

$269,500

3 bd · 2.0 ba · 2,088 sqft · SingleFamily · 114 Days on market

Built 1900 5.60 ac lot $129/sqft · 27% below area Est $370k · 27% under ↓ 10% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +9.5/10.0
• Cash flow +5.3/30.0
• Schools +4.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0

Listing remarks MLS

BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

Key facts

• Barn
• 5.6 acres
• Eat-in kitchen

Tags

• 5.6 ACRES
• BARN
• APARTMENT
• EAT-IN KITCHEN
• DETACHED GARAGE
• ACCESS TO DELAWARE RIVER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-598 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (40.6% below list).
• Recommended offer: $160k (40.6% below list) — sets the bar for 1% rule.
• Cap rate 3.6% vs local median 1.7% in Narrowsburg — 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 56/100 on livability (#1,108 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime F, amenities 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: 1 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 $26k of equity ($2k loan paydown + $24k appreciation (8.9% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, 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 114 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000 (40.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.59% ✗
• Cap rate: 3.63%
• Cash-on-cash: -9.52%
• DSCR: 0.58
• GRM: 14.0

CMA / ARV

• ARV (median comp): $369,667
• List price: $269,500
• Delta: -27.10%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1409 Beach Lake Hwy	0.41mi	4/2.0 (+1)	1,792 (-14%)	8mo	$239,361	$134	46

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

Projected returns pro-forma

8.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 2.18×
• Total profit: $88,991
• Equity at exit: $221,835

10-year hold

• IRR: 14.8%
• Equity multiple: 4.82×
• Total profit: $288,177
• Equity at exit: $457,723

Cash invested: $75,460 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 18405

• Home prices YoY: 2.8%
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$1,413
• Tax est. 1.5%: −$337 /mo · $4,042/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-598

Break-even live

Break-even rent $2,358

Max offer price $182,903

Occupancy floor —

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: $67,375
• Closing costs: $8,085
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1054 Beach Lake Hwy Apt 1 Beach Lake, PA	3.0	1.0	1448	$1,600	$1.10	3d	1	1.32mi

Listing history 8 events

1. 2026-05-16
   status Pending 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

2. 2026-04-23
   status Active 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

3. 2026-04-23
   price $269,500 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

4. 2026-03-16
   status Pending 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

5. 2026-03-06
   price $279,900 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

6. 2026-01-23
   status Active 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

7. 2026-01-13
   status Pending 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

8. 2025-12-05
   listed $299,500 Active 1045-char remark

   Show marketing remark (1045 chars)

   BEACH LAKE AREA - Charming Farmhouse on 5.6 Acres with Barn & Apartment--Discover country living at its best with this inviting farmhouse set on over 5 picturesque acres, perfectly located just minutes from Honesdale, PA and Narrowsburg, NY. Offering a blend of rustic charm and practical amenities, this property is ideal as a full-time residence, weekend retreat, or hobby farm. Step inside to a spacious eat-in kitchen, the heart of the home, perfect for casual gatherings and everyday meals. The farmhouse layout provides warm, comfortable living spaces ready for your personal touch. Outdoors, the acreage offers room to roam, garden, or expand. A small barn adds opportunities for animals, storage, or creative use. The detached garage features a fully functional apartment above--great for guests, rental income, or a private studio. Peaceful, private, and conveniently situated, this property combines rural charm with easy access to restaurants, shops, and the Delaware River area. Boasts a new roof and 4 split HEAT/AC units too!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$15,096
• − Property taxes: −$4,042
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$7,840
• Taxable loss: −$12,198
• Est. tax savings @ 24.0%: +$2,928
• After-tax cash flow: $-4,254/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 — Narrowsburg

• Score: 56/100
• State rank: #1108
• US rank: #22694

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,611

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 9% Scottish 2% Subsaharan African 2%
• Foreign-born: 2%
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 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: ▲ 8.92%
• Current HPI: 333.3408
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-10.0% since first listed

8 events — show timeline

• 2026-05-16 Pending — PWMLS
• 2026-04-23 Relisted — PWMLS
• 2026-04-23 Price Changed $269,500 PWMLS
• 2026-03-16 Pending — PWMLS
• 2026-03-06 Price Changed $279,900 PWMLS
• 2026-01-23 Relisted — PWMLS
• 2026-01-13 Pending — PWMLS
• 2025-12-05 Listed $299,500 PWMLS