138 Neil Thompson Rd · Masthope, PA 18435

$169,900

2 bd · 1.0 ba · 1,422 sqft · SingleFamily public records · 55 Days on market

Built 1934 2.06 ac lot $119/sqft · 45% below area Est $165k · at est. ↓ 6% since listing

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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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +6.2/15.0
• 1% rule +5.9/10.0
• Appreciation +5.4/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity on Over 2 Acres - Privacy & Potential!Don't miss this opportunity to own just over 2 acres of private land, with a large portion cleared, offering space, usability, and room to expand. This 3-bedroom, 1-bath home is in need of renovation and is being sold as-is, with all contents included. Whether you're looking for a full restoration project, a weekend getaway transformation, or a future homesite, the possibilities here are wide open. Tucked away in a quiet setting, the property provides excellent privacy while still offering a more open feel thanks to the cleared areas--ideal for outdoor use, storage, or future improvements. With an attractive price point, this property

Key facts

• Excellent privacy
• Private land
• Outdoor use

Tags

• OVER 2 ACRES
• PRIVATE LAND
• LARGE PORTION CLEARED
• EXCELLENT PRIVACY
• QUIET SETTING
• OUTDOOR USE

Property features AI

Exterior

• Parking: On-site private parking
• Utilities: Private well water; Septic tank sewer; Electricity connected; Cable available
• Home design: Single family residence; Two levels; Residential zoning; Property listed as fixer and currently vacant
• Construction: Aluminum siding and frame construction; Block foundation; Built area above grade noted
• Exterior features: Covered, enclosed porch/patio; Front yard and back yard; level, cleared lot; Privacy and front yard fencing; Shingle roof; Shed(s); Has view; Paved road access

Interior

• Kitchen: Gas cooktop
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fan(s); no central heating indicated; Has cooling
• Interior features: Gas cooktop; Carpet and laminate flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.2% in Masthope — 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 63/100 on livability (#1,276 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: schools D, 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: 60 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 $2k of equity ($1k loan paydown + $1k appreciation (0.7% 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 (0.7% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (median comp): $165,186
• List price: $169,900
• Delta: 2.85%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Projected returns pro-forma

0.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.37×
• Total profit: $17,426
• Equity at exit: $55,375

10-year hold

• IRR: 11.7%
• Equity multiple: 2.38×
• Total profit: $65,721
• Equity at exit: $71,600

Cash invested: $47,572 (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 18435

• Home prices YoY: 0.3%
• Active inventory: 60
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,847 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$180 /mo · $2,156/yr
• Insurance: −$71
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $262

Break-even live

Break-even rent $1,515

Max offer price $169,900

Occupancy floor 81%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $169,900 Active 55 DOM
2. 2026-06-17
   days on market $169,900 Active 54 DOM
3. 2026-06-16
   days on market $169,900 Active 53 DOM
4. 2026-06-15
   days on market $169,900 Active 52 DOM
5. 2026-06-13
   days on market $169,900 Active 50 DOM
6. 2026-06-13
   pricedays on market $169,900 Active 49 DOM
7. 2026-06-09
   days on market $179,900 Active 46 DOM
8. 2026-06-08
   days on market $179,900 Active 45 DOM
9. 2026-06-07
   days on market $179,900 Active 44 DOM
10. 2026-06-04
    days on market $179,900 Active 41 DOM
11. 2026-06-03
    days on market $179,900 Active 40 DOM
12. 2026-06-02
    days on market $179,900 Active 39 DOM
13. 2026-06-01
    days on market $179,900 Active 38 DOM
14. 2026-05-31
    days on market $179,900 Active 37 DOM
15. 2026-04-24
    listed $179,900 Active 1007-char remark

ⓘ 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: $2,156 · $180/mo
• Projected year-2 tax: $2,420 · $202/mo
• Expected delta: +$264/yr (+$22/mo · 12.2%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $22,159
• − Mortgage interest: −$9,517
• − Property taxes: −$2,156
• − Insurance: −$1,516
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − Depreciation: −$4,943
• Taxable income: $482
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $3,026/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 — Masthope

• Score: 63/100
• State rank: #1276
• US rank: #15402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 906

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 (87%)
• Race & ethnicity: White 87% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 6% Subsaharan African 6% Serbian 4%
• Foreign-born: 13% · Canada
• Languages at home: 92% English-only · Russian/Polish/Slavic 5% Spanish 1% German/W. Germanic 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: ▲ 0.70%
• Current HPI: 206.1947
• 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

-5.6% since first listed

2 events — show timeline

• 2026-06-12 Price Changed $169,900 PWMLS
• 2026-04-24 Listed $179,900 PWMLS

Property tax history

+2.6%/yr

Latest (2026): $2,156 · +2.8% YoY. Source: county tax records.