489 Westcolang Rd · Fawn Lake Forest, PA 18428

$150,000

2 bd · 1.5 ba · 864 sqft · SingleFamily public records · 14 Days on market

Built 1985 0.56 ac lot Est $135k · 11% over $166/mo HOA · 9% of rent

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Why this score? — see what drove the C 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 +20.6/30.0
• Appreciation +10.0/10.0
• 1% rule +6.9/10.0
• DSCR +6.6/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0

Listing remarks

Tucked away in the amenity-filled community of Fawn Lake Forest, this diamond in the rough is ready for its next chapter! Offering 3 bedrooms, 2 full bathrooms, and a spacious open floor plan, this home has the bones and layout buyers are looking for -- just bring your vision and toolbox. Features include a full walkout basement with endless possibilities, a front deck perfect for enjoying the peaceful wooded setting, and plenty of potential to transform this property into the perfect full-time residence, weekend getaway, or investment opportunity. Yes, it needs work-- but for the right buyer, the upside is undeniable. Located in a sought-after Pocono community with access to lakes, pools,

Key facts

• Access to lakes
• Walkout basement
• Front deck

Tags

• WALKOUT BASEMENT
• FRONT DECK
• ACCESS TO LAKES
• ACCESS TO POOLS
• ACCESS TO BEACHES
• CLUBHOUSE AMENITIES

Property features AI

Finance

• Other: Directions: From Fawn Lake Forest Main Entrance, turn left onto Westcolang Road. The house on the left. From Masthope, turn right onto Westcolang Road. The house is on the right; Subdivision: Fawn Lake
• HOA & community: Homeowners association with annual and one-time fees; Association amenities include clubhouse, indoor pool, pool, tennis courts, basketball court, shuffleboard court, recreation room, meeting room, party room, fitness center, game court, playground, dog park, beach access and rights; Association fee includes security

Exterior

• Parking: Circular driveway; Off-street parking
• Security: 24-hour security
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Two levels; Residential property; Listed in fixer condition
• Construction: Wood siding construction
• Exterior features: Shingle roof; Publicly maintained road access; 0.56-acre lot

Interior

• Kitchen: Electric oven; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard electric heating; Has heating
• Interior features: Cathedral ceilings; Living room fireplace; Daylight, unfinished full basement with walk-out access

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 7.9% vs local median 4.7% in Fawn Lake Forest — 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 61/100 on livability (#1,395 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety 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 North Intrmd Sch (math 36% / reading 59%, grade D, #733 of 1,518 statewide, top 48%, 471 students, 63% 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 61% FRL vs 44% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 378 active listings in the ZIP; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $150,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $134,784
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 Forest Ridge Dr	0.16mi	3/1.5 (+1)	900 (+4%)	16mo	$140,000	$156	67
124 Fawn Lake Dr	0.71mi	2/1.0	892 (+3%)	12mo	$115,000	$129	49

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: 28.5%
• Equity multiple: 3.25×
• Total profit: $94,622
• Equity at exit: $135,132

10-year hold

• IRR: 24.8%
• Equity multiple: 7.40×
• Total profit: $268,844
• Equity at exit: $291,417

Cash invested: $42,000 (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: 378
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,782 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$192 /mo · $2,299/yr
• Insurance: −$62
• HOA: −$166
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $201

Break-even live

Break-even rent $1,527

Max offer price $150,000

Occupancy floor 84%

Sensitivity live

Price	-10% $286	-5% $243	+0% $201	+5% $158	+10% $116
Rent	-10% $60	-5% $131	+0% $201	+5% $271	+10% $342
Rate	-1.0pp $276	-0.5pp $239	base $201	+0.5pp $162	+1.0pp $123

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $166 · $1,992/yr
• Likely covers: pool

Listing history 11 events

1. 2026-06-17
   status $150,000 Pending 14 DOM
2. 2026-06-16
   days on market $150,000 Active 14 DOM
3. 2026-06-15
   days on market $150,000 Active 13 DOM
4. 2026-06-13
   days on market $150,000 Active 11 DOM
5. 2026-06-13
   days on market $150,000 Active 10 DOM
6. 2026-06-09
   days on market $150,000 Active 7 DOM
7. 2026-06-08
   days on market $150,000 Active 6 DOM
8. 2026-06-07
   days on market $150,000 Active 5 DOM
9. 2026-06-04
   days on market $150,000 Active 2 DOM
10. 2026-06-02
    remarks 699-char remark
11. 2026-06-02
    listed $150,000 Active 1 DOM

ⓘ 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: $2,299 · $192/mo
• Projected year-2 tax: $2,335 · $195/mo
• Expected delta: +$35/yr (+$3/mo · 1.5%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $21,382
• − Mortgage interest: −$8,402
• − Property taxes: −$2,299
• − Insurance: −$750
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − HOA: −$1,992
• − Depreciation: −$4,364
• Taxable income: $153
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $2,374/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 — Fawn Lake Forest

• Score: 61/100
• State rank: #1395
• US rank: #17626

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment C+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fawn Lake Forest, 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

1 event — show timeline

• 2026-06-01 Listed $150,000 PWMLS

Property tax history

+2.6%/yr

Latest (2026): $2,299 · +2.8% YoY. Source: county tax records.