355 Lake Shr S Unit F · Milford, PA 07827

$175,000

3 bd · 2.0 ba · 1,835 sqft · Condo · 19 Days on market

Built 1973 Fair condition $95/sqft · 44% below area Est $312k · 44% under $123/mo HOA · 5% of rent

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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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.9/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +1.1/10.0

Listing remarks

Welcome to a spacious opportunity in beautiful High Point Country Club. This home offers substantial space and great potential for someone ready to roll up their sleeves and work with TLC to make it shine. This residence features a very large living room that flows seamlessly into the kitchen, a separate dining area perfect for entertaining, and two bedrooms on the main level accompanied by a full bathroom. The second floor is reserved for a humongous primary suite, complete with its own full bathroom and two walk-in closets, delivering a private retreat within the home. The total square footage is 1,835 sq ft, providing abundant space to reimagine and personalize. The layout invites flexib

Key facts

• $123 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Monthly association fee of $123; Association fee covers common area maintenance; Pets allowed; Community living

Exterior

• Parking: Assigned parking (2 spaces)
• Utilities: Electric service; Public water; Septic system
• Home design: Multi-floor unit; Approximately 2 floors; Entry faces not specified
• Construction: Approximate year built; Asphalt shingle roof
• Exterior features: Association outdoor pool; Lake privileges; Tennis courts; Vinyl siding; Blacktop assigned driveway

Interior

• Kitchen: Refrigerator
• Bedrooms: Two bedrooms on main level; One bedroom on upper level
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric baseboard heating; Window air conditioners
• Interior features: Refrigerator included; Separate dining area; Formal dining room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $175k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.4% in Milford — 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 79/100 on livability (#255 in PA, #2,230 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, health & safety A+; Watch: cost of living D+, commute F.
• Montague Township School District (rural): math 40% / reading 55% proficiency, ranked #400 of 612 in NJ (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Montague Township School (math 12% / reading 37%, grade F, #878 of 1,303 statewide, top 70%, 310 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Zoned-school proficiency averages 24% at this address vs 48% district-wide (-23 pts) — the specific schools serving this property underperform the Montague Township School District average; the district grade overstates school quality for this exact location.
• Market conditions: 184 units permitted in Sussex County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Sussex County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.02%
• DSCR: 1.49
• GRM: 6.5

CMA / ARV

• ARV (median comp): $312,206
• List price: $175,000
• Delta: -43.95%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $422
• Equity at exit: $26,093

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $37,730
• Equity at exit: $15,131

Cash invested: $49,000 (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 07827

• Home prices YoY: -2.6%
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,256 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$123
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $450

Break-even live

Break-even rent $1,687

Max offer price $175,000

Occupancy floor 75%

Sensitivity live

Price	-10% $571	-5% $511	+0% $450	+5% $390	+10% $329
Rent	-10% $272	-5% $361	+0% $450	+5% $539	+10% $628
Rate	-1.0pp $538	-0.5pp $495	base $450	+0.5pp $405	+1.0pp $359

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $123 · $1,476/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 1 events

1. 2026-04-30
   listed $175,000 Active 1443-char remark

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

Taxation est. · year 1

• Rental income: $27,076
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − HOA: −$1,476
• − Depreciation: −$5,091
• Taxable income: $2,875
• Est. tax owed @ 24.0%: −$690
• After-tax cash flow: $4,712/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations, including exterior repairs and landscaping, to improve its curb appeal and resale value.

Repairs flagged

• Major siding — Significant wear and tear
• Major landscaping — Overgrown and unkempt
• Major carpet — Worn and in need of replacement

Value-add opportunities

• Resale paint exterior — Fresh paint enhances curb appeal
• Resale landscaping — Well-maintained landscaping improves curb appeal
• Both replace carpet — New carpet improves comfort and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
carpet · Worn and in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale paint exterior — Fresh paint enhances curb appeal ↑
• Resale landscaping — Well-maintained landscaping improves curb appeal ↑
• Both replace carpet — New carpet improves comfort and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Montague Township School District
• NCES district ID: 3410530
• Math proficiency: 40% ▼ -15.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $62,366
• Composite: 43.98/100
• National rank: #6267
• State rank: #400 of 612 in NJ

Livability — Milford

• Score: 79/100
• State rank: #255
• US rank: #2230

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,799
• Population (ZIP): 4,111

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 133,413 people
• By 2030: 127,324 · -4.6%
• By 2040: 113,987 · -14.6%
• By 2050: 100,391 · -24.8%
• By 2075: 78,063 · -41.5%
• By 2100: 62,346 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 9% Iranian 4% Subsaharan African 2%
• Foreign-born: 6% · Canada, China, Dominican Republic
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 2%

Political lean MEDSL · Sussex

• 2024 margin: Strong R (+24.9) · D 36.6% · R 61.6% · Other 1.8%
• 2008→2024 swing: -4.2pp toward R · 2008: -20.7pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+19.5 2016: R+30.3 2012: R+22.4 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.89%
• Current HPI: 290.6237
• 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

2 events — show timeline

• 2026-05-19 Pending — GSMLS
• 2026-04-30 Listed $175,000 GSMLS