802 Cedar Ct · Hemlock Farms, PA 18428

$274,000

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 77 Days on market

Built 1975 0.80 ac lot $224/sqft · 17% above area Est $322k · 15% under $253/mo HOA · 7% of rent

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Why this score? — see what drove the A 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 +29.9/30.0
• ARV discount +14.2/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.0/10.0
• 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

Hemlock Farms Chalet: One-level living on over 3/4 of an acre, located on a private cul-de-sac! This could be your dream home! Featuring 3 bedrooms, 1 1/2 baths, this Chalet-style property offers a functional main level with an eat-in kitchen, a spacious living room with a brick gas fireplace and hand-made wooden mantel and trim, hardwood flooring, 2 large bedrooms, and a full bath and laundry area. The second level features a large bedroom and a 1/2 bath. Hemlock Farms is a full amenity community offering several pools including an indoor pool, fitness center, cafe, meeting room, tennis courts, a beach area on Elm Lake, several recreational areas, a Library, places of Worship and so much more. Looking for options, there are activities for all ages to enjoy. Close to the Interstate for an easy commute! Being Sold with contents. Make an offer today!

Key facts

• 0.8 acre lot
• 5 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $274k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $274k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 7.1% in Hemlock Farms — 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 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; 2 comparable units currently listed for rent nearby; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k 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 $77k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $274k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $257,559 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. 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. 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: 1.40% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.85%
• DSCR: 1.71
• GRM: 5.9

CMA / ARV

• ARV (median comp): $321,675
• List price: $274,000
• Delta: -14.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 Bluestone Ct N Unit 800 Bluestone Court North	0.46mi	3/2.0	1,202 (-2%)	1mo	$276,000	$230	75
806 Rimrock Ct	0.34mi	3/2.0	1,142 (-7%)	4mo	$300,000	$263	70
111 Blueridge Ln	0.28mi	3/1.0	1,176 (-4%)	9mo	$215,000	$183	69
105 Tupelo Dr	0.67mi	3/2.0	1,215 (-1%)	0mo	$360,000	$296	67
404 Forest Dr	0.13mi	3/1.0	1,085 (-11%)	6mo	$270,000	$249	66
304 Forest Dr	0.38mi	3/1.5	1,344 (+10%)	2mo	$280,000	$208	63
103 Saddlebrook Ln	0.53mi	2/1.5 (-1)	1,222 (-0%)	8mo	$210,000	$172	62
304 Forest Drive Dr	0.38mi	3/1.5	1,344 (+10%)	11mo	$181,000	$135	55
123 Basswood Ln E	0.68mi	3/2.0	1,320 (+8%)	8mo	$512,500	$388	49
107 Ridgeway Dr	0.51mi	3/2.0	1,083 (-12%)	10mo	$257,500	$238	48
807 Rimrock Ct	0.34mi	2/1.5 (-1)	1,080 (-12%)	17mo	$225,000	$208	44
109 Curlew Dr	0.56mi	2/2.0 (-1)	1,332 (+9%)	15mo	$311,000	$233	41

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: 36.0%
• Equity multiple: 3.79×
• Total profit: $213,893
• Equity at exit: $246,841

10-year hold

• IRR: 31.0%
• Equity multiple: 8.55×
• Total profit: $579,418
• Equity at exit: $532,322

Cash invested: $76,720 (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: 5.9×

Monthly cashflow live

• Estimated rent: $3,849 medium
• Mortgage (P&I): −$1,437
• Tax from tax record: −$224 /mo · $2,686/yr
• Insurance: −$114
• HOA: −$253
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $1,013

Break-even live

Break-even rent $2,567

Max offer price $274,000

Occupancy floor 69%

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 Forest Dr Blooming Grove, PA	3.0	2.0	1200	$5,000	$4.17	1d	1	0.35mi
811 Hickory Ct Hawley, PA	3.0	2.0	1100	$2,500	$2.27	1d	1	0.37mi

HOA detail

• Monthly dues: $253 · $3,036/yr
• Likely covers: gaspoolgym

Listing history 16 events

1. 2026-06-18
   days on market $274,000 Active 77 DOM
2. 2026-06-17
   days on market $274,000 Active 76 DOM
3. 2026-06-16
   days on market $274,000 Active 75 DOM
4. 2026-06-15
   days on market $274,000 Active 74 DOM
5. 2026-06-13
   days on market $274,000 Active 72 DOM
6. 2026-06-13
   days on market $274,000 Active 71 DOM
7. 2026-06-09
   days on market $274,000 Active 68 DOM
8. 2026-06-08
   days on market $274,000 Active 67 DOM
9. 2026-06-07
   days on market $274,000 Active 66 DOM
10. 2026-06-04
    days on market $274,000 Active 63 DOM
11. 2026-06-03
    days on market $274,000 Active 62 DOM
12. 2026-06-02
    days on market $274,000 Active 61 DOM
13. 2026-06-01
    days on market $274,000 Active 60 DOM
14. 2026-05-31
    days on market $274,000 Active 59 DOM
15. 2026-04-02
    listed $289,650 Active 860-char remark

    Show marketing remark (860 chars)

    Hemlock Farms Chalet: One-level living on over 3/4 of an acre, located on a private cul-de-sac! This could be your dream home! Featuring 3 bedrooms, 1 1/2 baths, this Chalet-style property offers a functional main level with an eat-in kitchen, a spacious living room with a brick gas fireplace and hand-made wooden mantel and trim, hardwood flooring, 2 large bedrooms, and a full bath and laundry area. The second level features a large bedroom and a 1/2 bath. Hemlock Farms is a full amenity community offering several pools including an indoor pool, fitness center, cafe, meeting room, tennis courts, a beach area on Elm Lake, several recreational areas, a Library, places of Worship and so much more. Looking for options, there are activities for all ages to enjoy. Close to the Interstate for an easy commute! Being Sold with contents. Make an offer today!

16. 2000-05-16
    soldstatus $90,000

ⓘ 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: $2,686 · $224/mo
• Projected year-2 tax: $3,508 · $292/mo
• Expected delta: +$822/yr (+$68/mo · 30.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥91°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: $46,192
• − Mortgage interest: −$15,348
• − Property taxes: −$2,686
• − Insurance: −$1,370
• − Repairs & maintenance: −$3,695
• − Management: −$3,695
• − HOA: −$3,036
• − Depreciation: −$7,971
• Taxable income: $8,390
• Est. tax owed @ 24.0%: −$2,014
• After-tax cash flow: $10,144/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

+221.8% since first listed

2 events — show timeline

• 2026-04-02 Listed $289,650 PWMLS
• 2000-05-16 Sold (Public Records) $90,000 Public Records

Property tax history

+2.8%/yr

Latest (2026): $2,686 · +3.0% YoY. Source: county tax records.