102 Surrey Ln · Hemlock Farms, PA 18428

$225,000

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 34 Days on market

Built 1977 0.49 ac lot $212/sqft · 18% above area Est $225k · at est. $250/mo HOA · 11% of rent

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Why this score? — see what drove the C- 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 +13.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.6/15.0
• 1% rule +4.9/10.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Perfect Setting-Quiet Country Lane Close to Elm Lake & White Sandy Beach The perfect size depicts this warm & inviting 3 bedroom ranch where you won't need to agonize about high maintenance, high utility bills or high taxes, instead you'll appreciate the beauty of knotty pine & fresh country air in a storybook setting! Only one proud owner has enjoyed the comfort & warmth now offered to you. .. call today to claim your little 'peace of mind' in the Poconos!, Beds Description: 2+Bed1st, Baths: 1 Bath Level 1

Key facts

• One story living
• Shed
• Sunroom

Tags

• ONE STORY LIVING
• WOOD BURNING FIREPLACE
• SUNROOM
• SHED

Property features AI

Finance

• Other: Located in the Hemlock Farms subdivision; directions available from Route 739
• HOA & community: Homeowners association with annual fee; Annual association fee listed; Community amenities: fitness center, recreation facilities, tennis courts, indoor pool, clubhouse, lake, outdoor pool; Gated community with security

Exterior

• Security: 24-hour security; Gated community
• Utilities: Septic tank
• Home design: Single-family house; One story
• Construction: Above-grade finished area: 1,250 (listed)
• Exterior features: Private yard; Views (community lake); Paved road access

Interior

• Kitchen: Dishwasher; Refrigerator; Electric range / electric oven
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (electric); Ceiling fan(s)
• Interior features: Cathedral ceilings; Open floor plan; 6 total rooms; Crawl space / no finished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $21 ($250/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (1.2% below list).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.

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; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k 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 $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $193k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.99% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 8.4

CMA / ARV

• ARV (median comp): $225,313
• List price: $225,000
• Delta: -0.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Mapleridge Dr	0.35mi	3/2.0	1,104 (+4%)	3mo	$260,000	$236	71
244 Surrey Dr	0.29mi	3/2.0	1,151 (+9%)	6mo	$212,000	$184	63
224 Maple Ridge Dr	0.30mi	3/1.0	1,128 (+6%)	16mo	$175,000	$155	62
118 Appaloosa Dr	0.55mi	3/2.0	1,056 (-0%)	11mo	$280,000	$265	61
125 Rodeo Dr	0.12mi	2/1.0 (-1)	966 (-9%)	23mo	$190,000	$197	56
107 Rodeo Ln	0.29mi	3/2.0	944 (-11%)	14mo	$187,500	$199	52
121 Maple Ridge Dr	0.61mi	3/1.0	1,024 (-3%)	17mo	$150,000	$146	52
142 Surrey Dr	0.58mi	3/1.5	1,088 (+3%)	23mo	$215,000	$198	47
108 Farrier Ln	0.73mi	2/1.5 (-1)	1,016 (-4%)	10mo	$200,000	$197	44

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: 24.6%
• Equity multiple: 2.97×
• Total profit: $124,014
• Equity at exit: $202,698

10-year hold

• IRR: 21.8%
• Equity multiple: 6.78×
• Total profit: $364,445
• Equity at exit: $437,126

Cash invested: $63,000 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,224 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$212 /mo · $2,545/yr
• Insurance: −$94
• HOA: −$250
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $21

Break-even live

Break-even rent $2,197

Max offer price $225,000

Occupancy floor 94%

Sensitivity live

Price	-10% $148	-5% $85	+0% $21	+5% $-43	+10% $-107
Rent	-10% $-155	-5% $-67	+0% $21	+5% $109	+10% $197
Rate	-1.0pp $134	-0.5pp $78	base $21	+0.5pp $-37	+1.0pp $-97

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $250 · $3,000/yr

Listing history 24 events

1. 2026-06-18
   days on market $225,000 Active 34 DOM
2. 2026-06-17
   days on market $225,000 Active 33 DOM
3. 2026-06-16
   days on market $225,000 Active 32 DOM
4. 2026-06-15
   days on market $225,000 Active 31 DOM
5. 2026-06-13
   days on market $225,000 Active 29 DOM
6. 2026-06-13
   days on market $225,000 Active 28 DOM
7. 2026-06-09
   days on market $225,000 Active 25 DOM
8. 2026-06-08
   days on market $225,000 Active 24 DOM
9. 2026-06-07
   days on market $225,000 Active 23 DOM
10. 2026-06-04
    days on market $225,000 Active 20 DOM
11. 2026-06-03
    days on market $225,000 Active 19 DOM
12. 2026-06-02
    days on market $225,000 Active 18 DOM
13. 2026-06-01
    days on market $225,000 Active 17 DOM
14. 2026-05-31
    days on market $225,000 Active 16 DOM
15. 2026-05-15
    listed $225,000 Active 146-char remark
16. 2024-05-06
    historical $1,700
17. 2024-03-21
    listed $1,700
18. 2024-03-17
    listed $1,700 Active
19. 2022-10-27
    soldstatus $193,000
20. 2022-09-28
    soldstatus $193,000

    Show marketing remark (536 chars)

    Perfect Setting-Quiet Country Lane Close to Elm Lake & White Sandy Beach The perfect size depicts this warm & inviting 3 bedroom ranch where you won't need to agonize about high maintenance, high utility bills or high taxes, instead you'll appreciate the beauty of knotty pine & fresh country air in a storybook setting! Only one proud owner has enjoyed the comfort & warmth now offered to you. .. call today to claim your little 'peace of mind' in the Poconos!, Beds Description: 2+Bed1st, Baths: 1 Bath Level 1

21. 2022-09-28
    soldstatus Closed

    Show marketing remark (536 chars)

    Perfect Setting-Quiet Country Lane Close to Elm Lake & White Sandy Beach The perfect size depicts this warm & inviting 3 bedroom ranch where you won't need to agonize about high maintenance, high utility bills or high taxes, instead you'll appreciate the beauty of knotty pine & fresh country air in a storybook setting! Only one proud owner has enjoyed the comfort & warmth now offered to you. .. call today to claim your little 'peace of mind' in the Poconos!, Beds Description: 2+Bed1st, Baths: 1 Bath Level 1

22. 2022-08-26
    historical
23. 2022-07-13
    listed $199,000

    Show marketing remark (536 chars)

    Perfect Setting-Quiet Country Lane Close to Elm Lake & White Sandy Beach The perfect size depicts this warm & inviting 3 bedroom ranch where you won't need to agonize about high maintenance, high utility bills or high taxes, instead you'll appreciate the beauty of knotty pine & fresh country air in a storybook setting! Only one proud owner has enjoyed the comfort & warmth now offered to you. .. call today to claim your little 'peace of mind' in the Poconos!, Beds Description: 2+Bed1st, Baths: 1 Bath Level 1

24. 2022-07-13
    listed $199,000

    Show marketing remark (536 chars)

    Perfect Setting-Quiet Country Lane Close to Elm Lake & White Sandy Beach The perfect size depicts this warm & inviting 3 bedroom ranch where you won't need to agonize about high maintenance, high utility bills or high taxes, instead you'll appreciate the beauty of knotty pine & fresh country air in a storybook setting! Only one proud owner has enjoyed the comfort & warmth now offered to you. .. call today to claim your little 'peace of mind' in the Poconos!, Beds Description: 2+Bed1st, Baths: 1 Bath Level 1

ⓘ 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: $2,545 · $212/mo
• Projected year-2 tax: $3,050 · $254/mo
• Expected delta: +$505/yr (+$42/mo · 19.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $26,683
• − Mortgage interest: −$12,603
• − Property taxes: −$2,545
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,135
• − Management: −$2,135
• − HOA: −$3,000
• − Depreciation: −$6,545
• Taxable loss: −$3,405
• Est. tax savings @ 24.0%: +$817
• After-tax cash flow: $1,068/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

+13.1% since first listed

10 events — show timeline

• 2026-05-15 Listed $225,000 PWMLS
• 2024-05-06 Rental Removed $1,700 PWMLS
• 2024-03-21 Listed for Rent $1,700 PWMLS
• 2024-03-17 Listed $1,700 PWMLS
• 2022-10-27 Sold (Public Records) $193,000 Public Records
• 2022-09-28 Sold (MLS) — PWMLS
• 2022-09-28 Sold (MLS) $193,000 PWMLS
• 2022-08-26 Delisted — PWMLS
• 2022-07-13 Listed $199,000 PWMLS
• 2022-07-13 Listed $199,000 PWMLS

Property tax history

+2.8%/yr

Latest (2026): $2,545 · +3.0% YoY. Source: county tax records.