802 Sunrise Ct Unit 802 Sunrise Ct

Hemlock Farms, PA 18428

$449,900D

3 bd · 2.0 ba · 1,670 sqft · Built 1983 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,105/mo
• Mortgage (P&I): −$2,359
• Tax + insurance: −$750
• HOA: −$250
• Vac / Maint / Mgmt: −$862
• Net cashflow: $-116/mo
• Annual: $-1,390/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• 1% rule: 0.91%
• Cash to close: $125,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $450k. Condition is rated good.
• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $433k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $411k (8.7% below list).
• It's been on market 87 days — a 6% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $411k (8.7% below list) — sets the bar for 1% rule.
• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#884 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute 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 South El Sch (math 47% / reading 52%, grade D, #654 of 1,518 statewide, top 47%, 255 students, 72% 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 64% FRL vs 44% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 378 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 213 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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?
• 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.