113 Lenape Trl

Penn Forest, PA 18210

$229,000C

3 bd · 2.0 ba · 1,692 sqft · Built 1971 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,282/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$265
• HOA: −$113
• Vac / Maint / Mgmt: −$479
• Net cashflow: $224/mo
• Annual: $2,687/yr
• Cap rate: 7.47%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $64,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $229k.
• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (0.4% below list).
• It's been on market 23 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-2.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Jim Thorpe Area SD (rural): math 25% / reading 47% proficiency, ranked #394 of 539 in PA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 453 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 180 units permitted in Carbon County in 2024 (10 in 5+ unit buildings).
• Carbon County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 22 sale attempts since 21y ago 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 $111k; list at $229k implies a 106% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.