11 Pine Dr

Chase, PA 18708

$339,000C

9 bd · 3.9 ba · 3,008 sqft · Built 1985 · MultiFamily · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,785/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$484
• HOA: −$0
• Vac / Maint / Mgmt: −$795
• Net cashflow: $728/mo
• Annual: $8,735/yr
• Cap rate: 8.87%
• Cash-on-cash: 9.20%
• DSCR: 1.41
• 1% rule: 1.12%
• Cash to close: $94,920

Investor read

• This is a 3 × 3-bed/?-bath units multifamily listed at $339k.
• At list price, monthly cash flow is $728 ($9k/yr) — positive. Per door: $243/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• It's been on market 43 days — a 3% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $329k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#433 in PA, #3,959 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools C-, amenities F, commute F.
• Lake-Lehman SD (rural): math 39% / reading 59% proficiency, ranked #176 of 539 in PA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 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.
• 2 sale attempts since 6y ago 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.
• Current owner paid $263k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.