155 Hickory Hill Rd

Starrucca, PA 18462

$249,000C-

2 bd · 1.0 ba · 897 sqft · Built 1875 · SingleFamily · Pending · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,119/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$347
• HOA: −$0
• Vac / Maint / Mgmt: −$445
• Net cashflow: $21/mo
• Annual: $249/yr
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• 1% rule: 0.85%
• Cash to close: $69,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $249k.
• At list price, monthly cash flow is $21 ($249/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (14.9% below list).
• It's been on market 74 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (14.9% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($2k loan paydown + $4k appreciation (1.4% local appreciation)).
• Location reads 56/100 on livability (#1,635 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B; Watch: employment C-, amenities F, commute F.
• Wayne Highlands SD (town): math 48% / reading 64% proficiency, ranked #115 of 539 in PA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Preston Sch (math 37% / reading 57%, grade D-, #737 of 1,518 statewide, top 52%, 160 students, 54% FRL); Wayne Highlands Ms (math 37% / reading 65%, grade C, #116 of 512 statewide, top 24%, 376 students, 46% FRL); Honesdale Hs (math 72% / reading 24%, grade D, #153 of 437 statewide, top 37%, 697 students, 44% FRL).
• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $155k; list at $249k implies a 61% gain — meaningful room to come down on a strong offer.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1875 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.