152 Boulder Rd

Lake, PA 18436

$285,000C

5 bd · 3.0 ba · 3,699 sqft · Built 1994 · SingleFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,615/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$501
• HOA: −$180
• Vac / Maint / Mgmt: −$549
• Net cashflow: $-110/mo
• Annual: $-1,321/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.66%
• DSCR: 0.93
• 1% rule: 0.92%
• Cash to close: $79,800

Investor read

• This is a 5-bed/3.0-bath single-family listed at $285k.
• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (8.2% below list).
• It's been on market 88 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $261k (8.2% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Western Wayne SD (rural): math 39% / reading 63% proficiency, ranked #165 of 539 in PA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 337 active listings in the ZIP; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $24k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 88 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.