6 Old Turnpike Rd

Pardeesville, PA 18222

$349,900B+

28 bd · 16.0 ba · 3,338 sqft · Built 1940 · MultiFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,857/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$370
• HOA: −$0
• Vac / Maint / Mgmt: −$1,440
• Net cashflow: $3,212/mo
• Annual: $38,542/yr
• Cap rate: 17.31%
• Cash-on-cash: 39.34%
• DSCR: 2.75
• 1% rule: 1.96%
• Cash to close: $97,972

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $350k.
• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $803/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $350k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#1,411 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Hazleton Area SD (suburban): math 18% / reading 30% proficiency, ranked #476 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 134 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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 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.