227 Upper Independence Dr · Masthope, PA 18435

$199,000

3 bd · 2.0 ba · 1,176 sqft · SingleFamily public records · 30 Days on market

Built 1977 0.50 ac lot Est $250k · 21% under $184/mo HOA · 10% of rent

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.1/30.0
• Appreciation +5.4/10.0
• Schools +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

MASTHOPE MOUNTAIN OPPORTUNITY!Calling all investors, flippers, visionaries, and Pocono dream-builders - this is the kind of opportunity people wait for in the highly sought-after Masthope Mountain Community community! Perfectly positioned in an incredible location in Masthope!! surrounded by year-round recreation, this 3-bedroom, 2-bath home is packed with potential and ready for its next chapter. Whether you're looking to create the ultimate Airbnb retreat, vacation getaway, investment property, or personal mountain escape, the upside here could be massive with the right vision and updates. The home offers a solid footprint, spacious layout, and endless possibilities to reimagine the space

Key facts

• Corner lot
• 0.5 acre lot
• Community pool

Tags

• CORNER LOT
• MASTHOPE MOUNTAIN COMMUNITY
• YEAR-ROUND RECREATION
• DELAWARE RIVER ACCESS
• FOUR-SEASON COMMUNITIES

Property features AI

Finance

• Other: Located in the Masthope community; Approximately 0.5 acre lot; Adjacent to Westcolang Lake
• HOA & community: Homeowners association with annual fee; Association amenities include pool, clubhouse, tennis and basketball courts, trails, security, spa/hot tub, ski access, recreation and game rooms, fitness center, playground, dog park, billiard room, party room, beach access/rights, restaurant, and fishing; Association fee reported annually

Exterior

• Parking: Driveway with gravel surface
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Fixer condition; No shared/common walls
• Construction: Block foundation; Built on two levels
• Exterior features: Front porch; Community pool; Rectangular, wooded lot; Views; Horses allowed with stables on property; Paved road access

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Electric heating; No cooling
• Interior features: Wood-burning fireplace (1); 5 total rooms; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (11.0% below list).
• Recommended offer: $177k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.1% in Masthope — 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 63/100 on livability (#1,276 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment 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: 62 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $1k appreciation (0.7% local appreciation)).
• Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.

Recommended offer $177,116 (11.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.89% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $250,488
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
252 Upper Independence Dr	0.25mi	3/2.0	1,335 (+14%)	10mo	$295,000	$221	58
256 Upper Independence Dr	0.29mi	3/1.5	1,344 (+14%)	6mo	$220,000	$164	56
124 Constitution Dr	0.45mi	2/1.0 (-1)	1,120 (-5%)	8mo	$230,000	$205	55
123 Log Cabin Dr	0.22mi	2/1.5 (-1)	1,289 (+10%)	15mo	$275,000	$213	54
163 Karl Hope Blvd	0.35mi	3/2.0	1,286 (+9%)	23mo	$378,000	$294	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.89×
• Total profit: $-6,368
• Equity at exit: $64,860

10-year hold

• IRR: 3.0%
• Equity multiple: 1.35×
• Total profit: $19,352
• Equity at exit: $83,863

Cash invested: $55,720 (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 18435

• Home prices YoY: 0.3%
• Active inventory: 62
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$203 /mo · $2,442/yr
• Insurance: −$83
• HOA: −$184
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $-115

Break-even live

Break-even rent $1,916

Max offer price $178,724

Occupancy floor —

Sensitivity live

Price	-10% $-2	-5% $-58	+0% $-115	+5% $-171	+10% $-227
Rent	-10% $-255	-5% $-185	+0% $-115	+5% $-45	+10% $25
Rate	-1.0pp $-15	-0.5pp $-64	base $-115	+0.5pp $-166	+1.0pp $-219

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Andiron Way Lackawaxen, PA	2.0	1.0	864	$1,700	$1.97	0d	1	0.32mi
180 Westcolang Rd Lackawaxen, PA	3.0	2.0	1386	$1,900	$1.37	45d	1	0.67mi

HOA detail

• Monthly dues: $184 · $2,208/yr

Listing history 16 events

1. 2026-06-21
   days on market $199,000 Active 30 DOM
2. 2026-06-18
   days on market $199,000 Active 27 DOM
3. 2026-06-17
   days on market $199,000 Active 26 DOM
4. 2026-06-16
   days on market $199,000 Active 25 DOM
5. 2026-06-15
   days on market $199,000 Active 24 DOM
6. 2026-06-13
   days on market $199,000 Active 22 DOM
7. 2026-06-13
   days on market $199,000 Active 21 DOM
8. 2026-06-09
   days on market $199,000 Active 18 DOM
9. 2026-06-08
   days on market $199,000 Active 17 DOM
10. 2026-06-07
    days on market $199,000 Active 16 DOM
11. 2026-06-04
    days on market $199,000 Active 13 DOM
12. 2026-06-03
    days on market $199,000 Active 12 DOM
13. 2026-06-02
    days on market $199,000 Active 11 DOM
14. 2026-06-01
    days on market $199,000 Active 10 DOM
15. 2026-05-31
    days on market $199,000 Active 9 DOM
16. 2026-05-18
    listed $199,000 Active

ⓘ 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: $2,442 · $203/mo
• Projected year-2 tax: $2,793 · $233/mo
• Expected delta: +$351/yr (+$29/mo · 14.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,254
• − Mortgage interest: −$11,147
• − Property taxes: −$2,442
• − Insurance: −$995
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − HOA: −$2,208
• − Depreciation: −$5,789
• Taxable loss: −$4,728
• Est. tax savings @ 24.0%: +$1,135
• After-tax cash flow: $-243/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 — Masthope

• Score: 63/100
• State rank: #1276
• US rank: #15402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Masthope, PA
• Population (ZIP): 906

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 (87%)
• Race & ethnicity: White 87% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 6% Subsaharan African 6% Serbian 4%
• Foreign-born: 13% · Canada
• Languages at home: 92% English-only · Russian/Polish/Slavic 5% Spanish 1% German/W. Germanic 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: ▲ 0.70%
• Current HPI: 206.1947
• 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

• 2026-05-18 Listed $199,000 PWMLS

Property tax history

+2.6%/yr

Latest (2026): $2,442 · +2.8% YoY. Source: county tax records.