2413 Route 390

Barrett, PA 18325

$1,950,000B+

None bd · None ba · 7,000 sqft · Built 1971 · MultiFamily · Active · 263 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $33,412/mo
• Mortgage (P&I): −$10,226
• Tax + insurance: −$3,316
• HOA: −$0
• Vac / Maint / Mgmt: −$7,017
• Net cashflow: $12,853/mo
• Annual: $154,236/yr
• Cap rate: 14.24%
• Cash-on-cash: 28.39%
• DSCR: 2.26
• 1% rule: 1.71%
• Cash to close: $546,000

Investor read

• This is a multifamily listed at $1.95M. Condition is rated good.
• At list price, monthly cash flow is $13k ($154k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($33k rent vs $1.95M).
• It's been on market 263 days — a 12% lower offer ($1.72M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.72M (12.0% below list) — sets the bar for market timing.
• In year one you build about $43k of equity ($13k loan paydown + $29k appreciation (1.5% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pocono Mountain SD (rural): math 37% / reading 55% proficiency, ranked #245 of 539 in PA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 48 active listings in the ZIP; 278 units permitted in Monroe County in 2024 (52 in 5+ unit buildings).
• Monroe County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $546k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$110k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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.