202 Maryland Ave

Pine Creek, PA 17740

$49,000B-

2 bd · 1.0 ba · 736 sqft · Built 1974 · SingleFamily · Active · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $816/mo
• Mortgage (P&I): −$257
• Tax + insurance: −$506
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $-118/mo
• Annual: $-1,411/yr
• Cap rate: 13.86%
• Cash-on-cash: 27.03%
• DSCR: 2.20
• 1% rule: 1.67%
• Cash to close: $13,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $49k.
• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $28k (42.4% below list).
• Meets the 1% rule at list price ($816 rent vs $49k).
• It's been on market 129 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (42.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Jersey Shore Area SD (town): math 41% / reading 59% proficiency, ranked #179 of 539 in PA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Avis El Sch (math 67% / reading 72%, grade A-, #151 of 1,518 statewide, top 12%, 192 students, 45% FRL); Jersey Shore Ms (math 28% / reading 55%, grade F, #234 of 512 statewide, top 47%, 470 students, 54% FRL); Jersey Shore Area Shs (math 67% / reading 72%, grade B, #49 of 437 statewide, top 12%, 710 students, 46% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 47 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• Clinton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts 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 $24k; list at $49k implies a 109% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 129 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.