129 Hickory Dr Unit 129 Hickory Ln

Hemlock Farms, PA 18428

$299,000B-

3 bd · 2.0 ba · 1,287 sqft · Built 1980 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,952/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$498
• HOA: −$250
• Vac / Maint / Mgmt: −$830
• Net cashflow: $806/mo
• Annual: $9,669/yr
• Cap rate: 9.53%
• Cash-on-cash: 11.55%
• DSCR: 1.51
• 1% rule: 1.32%
• Cash to close: $83,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $299k. Condition is rated average.
• At list price, monthly cash flow is $806 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• It's been on market 20 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• In year one you build about $32k of equity ($2k loan paydown + $30k 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: schools C-, 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.
• Market conditions: 371 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).
• Pike County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.5% vs local median 7.1% in Hemlock Farms — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn and need replacement or refinishing.
• Minor: Primary bathroom shower curtain — Old and could be replaced with a new one.
• Moderate: Exterior siding — Worn and may need repainting or replacement.
• Moderate: Living area hardwood flooring — Worn and could be refinished or replaced.
• Minor: Paint in living areas — Faded and could be touched up with fresh paint.
• Minor: Windows — Sealing may be needed to improve energy efficiency and appearance.