467 2nd St

Harveys Lake, PA 18618

$142,500A-

3 bd · 2.0 ba · 1,274 sqft · Built 1950 · SingleFamily · Pending · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,903/mo
• Mortgage (P&I): −$747
• Tax + insurance: −$224
• HOA: −$0
• Vac / Maint / Mgmt: −$400
• Net cashflow: $532/mo
• Annual: $6,388/yr
• Cap rate: 10.78%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• 1% rule: 1.34%
• Cash to close: $39,900

Investor read

• This is a 3-bed/2.0-bath single-family listed at $142k.
• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• It's been on market 102 days — a 9% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $130k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($985 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 68/100 on livability (#923 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• Dallas SD (suburban): math 47% / reading 64% proficiency, ranked #97 of 539 in PA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 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.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $85k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2k; list at $142k implies a 7130% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.