111 Widgeon Ln

Hemlock Farms, PA 18428

$319,000C+

3 bd · 1.5 ba · 1,152 sqft · Built 1975 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,706/mo
• Mortgage (P&I): −$1,673
• Tax + insurance: −$322
• HOA: −$250
• Vac / Maint / Mgmt: −$778
• Net cashflow: $683/mo
• Annual: $8,199/yr
• Cap rate: 8.86%
• Cash-on-cash: 9.18%
• DSCR: 1.41
• 1% rule: 1.16%
• Cash to close: $89,320

Investor read

• This is a 3-bed/1.5-bath single-family listed at $319k.
• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $319k).
• It's been on market 40 days — a 3% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $309k (3.0% below list) — sets the bar for market timing.
• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• 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: 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.
• Zoned schools: Wallenpaupack South El Sch (math 47% / reading 52%, grade D, #654 of 1,518 statewide, top 47%, 255 students, 72% FRL); Wallenpaupack Area Ms (math 23% / reading 57%, grade F, #257 of 512 statewide, top 52%, 644 students, 59% FRL); Wallenpaupack Area Hs (math 74% / reading 67%, grade B+, #48 of 437 statewide, top 11%, 990 students, 62% FRL) — zoned schools average 64% FRL vs 44% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 375 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y 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 $225k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $89k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.9% vs local median 6.9% in Hemlock Farms — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.