36 Main St · Delaware Water Gap, PA 18327

$759,499

None bd · 16.0 ba · 5,280 sqft · MultiFamily · 159 Days on market

Built 1902 Good condition 0.25 ac lot ↓ 1% since listing

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Appreciation +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Fully renovated 4-unit investment opportunity in the highly walkable and desirable Borough of Delaware Water Gap. Featuring three spacious 1-bedroom units and one 2-bedroom unit, this property offers flexible income potential through long-term tenants or short-term rentals—STRs are permitted here. Located steps from downtown shops, restaurants, coffee spots, galleries, and the Appalachian Trail, this property offers unmatched lifestyle appeal for residents and visitors alike. Outdoor enthusiasts will love the easy access to hiking, biking, and water recreation, while commuters will appreciate being less than 3 minutes from Route 80 and just a short drive to downtown Stroudsburg. The building was completely renovated down to the studs within the past five years, offering peace of mind and low maintenance. All major systems have been updated including roof, plumbing, electrical, HVAC, windows, kitchens, baths, and flooring. Contemporary finishes, durable materials, and efficient systems make this a truly turnkey investment. Whether you're looking to grow your portfolio, explore Airbnb potential, or enjoy steady passive income, this rare multi-unit in one of the Poconos' most charming towns checks every box.

Key facts

• Highly walkable
• Steps from downtown
• Completely renovated

Tags

• HIGHLY WALKABLE
• SHORT TERM RENTALS PERMITTED
• STEPS FROM DOWNTOWN
• EASY ACCESS TO HIKING
• EASY ACCESS TO BIKING
• COMPLETELY RENOVATED

What this means for you Summary

Snapshot

• This is a 3×1bd/1ba + 1×2bd/1ba units multifamily listed at $759k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $759k).
• Recommended offer: $668k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#585 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D, amenities F, commute F.
• Stroudsburg Area SD (suburban): math 33% / reading 49% proficiency, ranked #315 of 539 in PA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 278 units permitted in Monroe County in 2024 (52 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $5k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Monroe County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $213k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($668k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $668,359 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.10×
• Total profit: $21,819
• Equity at exit: $185,888

10-year hold

• IRR: 8.8%
• Equity multiple: 1.86×
• Total profit: $182,329
• Equity at exit: $197,379

Cash invested: $212,660 (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 18327

• Home prices YoY: -0.7%
• Active inventory: 2
• Price-to-rent: 30.9×

Monthly cashflow live

• Estimated rent: $8,164 medium
• Mortgage (P&I): −$3,983
• Tax est. 1.5%: −$949 /mo · $11,392/yr
• Insurance: −$316
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,714
• Net cashflow: $1,201

Break-even live

Break-even rent $6,644

Max offer price $759,499

Occupancy floor 80%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,141
1× unit	2	1	$2,023
Total (4 units)			$8,164

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: $189,875
• Closing costs: $22,785
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $759,499 Active 159 DOM
2. 2026-06-18
   days on market $759,499 Active 158 DOM
3. 2026-06-17
   days on market $759,499 Active 157 DOM
4. 2026-06-16
   days on market $759,499 Active 156 DOM
5. 2026-06-15
   days on market $759,499 Active 155 DOM
6. 2026-06-14
   days on market $759,499 Active 153 DOM
7. 2026-06-13
   days on market $759,499 Active 152 DOM
8. 2026-06-10
   days on market $759,499 Active 150 DOM
9. 2026-06-09
   days on market $759,499 Active 149 DOM
10. 2026-06-08
    days on market $759,499 Active 148 DOM
11. 2026-06-07
    days on market $759,499 Active 147 DOM
12. 2026-06-05
    days on market $759,499 Active 144 DOM
13. 2026-06-03
    days on market $759,499 Active 143 DOM
14. 2026-06-02
    days on market $759,499 Active 142 DOM
15. 2026-06-01
    days on market $759,499 Active 141 DOM
16. 2026-05-31
    days on market $759,499 Active 140 DOM
17. 2026-05-30
    days on market $759,499 Active 139 DOM
18. 2026-03-11
    price $759,499 1230-char remark

    Show marketing remark (1230 chars)

    Fully renovated 4-unit investment opportunity in the highly walkable and desirable Borough of Delaware Water Gap. Featuring three spacious 1-bedroom units and one 2-bedroom unit, this property offers flexible income potential through long-term tenants or short-term rentals—STRs are permitted here. Located steps from downtown shops, restaurants, coffee spots, galleries, and the Appalachian Trail, this property offers unmatched lifestyle appeal for residents and visitors alike. Outdoor enthusiasts will love the easy access to hiking, biking, and water recreation, while commuters will appreciate being less than 3 minutes from Route 80 and just a short drive to downtown Stroudsburg. The building was completely renovated down to the studs within the past five years, offering peace of mind and low maintenance. All major systems have been updated including roof, plumbing, electrical, HVAC, windows, kitchens, baths, and flooring. Contemporary finishes, durable materials, and efficient systems make this a truly turnkey investment. Whether you're looking to grow your portfolio, explore Airbnb potential, or enjoy steady passive income, this rare multi-unit in one of the Poconos' most charming towns checks every box.

19. 2026-01-11
    listed $769,499 Active 1230-char remark

    Show marketing remark (1230 chars)

    Fully renovated 4-unit investment opportunity in the highly walkable and desirable Borough of Delaware Water Gap. Featuring three spacious 1-bedroom units and one 2-bedroom unit, this property offers flexible income potential through long-term tenants or short-term rentals—STRs are permitted here. Located steps from downtown shops, restaurants, coffee spots, galleries, and the Appalachian Trail, this property offers unmatched lifestyle appeal for residents and visitors alike. Outdoor enthusiasts will love the easy access to hiking, biking, and water recreation, while commuters will appreciate being less than 3 minutes from Route 80 and just a short drive to downtown Stroudsburg. The building was completely renovated down to the studs within the past five years, offering peace of mind and low maintenance. All major systems have been updated including roof, plumbing, electrical, HVAC, windows, kitchens, baths, and flooring. Contemporary finishes, durable materials, and efficient systems make this a truly turnkey investment. Whether you're looking to grow your portfolio, explore Airbnb potential, or enjoy steady passive income, this rare multi-unit in one of the Poconos' most charming towns checks every box.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $97,968
• − Mortgage interest: −$42,544
• − Property taxes: −$11,392
• − Insurance: −$3,797
• − Repairs & maintenance: −$7,837
• − Management: −$7,837
• − Depreciation: −$22,095
• Taxable income: $2,465
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $13,818/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This fully renovated 4-unit property in Delaware Water Gap is in good condition with modern amenities and a desirable location. It offers a good investment opportunity with potential for further updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the flooring in the bathrooms — Replacing old or damaged flooring with modern options can improve the overall look and feel of the bathrooms, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the flooring in the bathrooms — Replacing old or damaged flooring with modern options can improve the overall look and feel of the bathrooms, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stroudsburg Area SD
• NCES district ID: 4222860
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 49% ▼ -15.00%
• Median HH income: $59,061
• Composite: 36.13/100
• National rank: #4747
• State rank: #315 of 539 in PA

Livability — Delaware Water Gap

• Score: 73/100
• State rank: #585
• US rank: #5612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delaware Water Gap, PA
• City population: 590
• Population (ZIP): 590

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 164,099 people
• By 2030: 161,412 · -1.6%
• By 2040: 154,616 · -5.8%
• By 2050: 146,710 · -10.6%
• By 2075: 140,830 · -14.2%
• By 2100: 138,472 · -15.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 7% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 4%
• Common ancestry: Romanian 8% Iranian 1% Scottish 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: Toss-up / Even · D 49.1% · R 49.9%
• 2008→2024 swing: -17.1pp toward R · 2008: 16.3pp · 2024: -0.8pp
• All cycles: 2024: R+0.8 2020: D+6.4 2016: D+0.3 2012: D+14.0 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.93%
• Current HPI: 140.9529
• 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

-1.3% since first listed

2 events — show timeline

• 2026-03-11 Price Changed $759,499 PMAR
• 2026-01-11 Listed $769,499 PMAR