135 Carpenter Rd · Harveys Lake, PA 18618

$185,000

3 bd · 1.5 ba · 1,861 sqft · SingleFamily · 12 Days on market

Fair condition 9,583 sqft lot $99/sqft · 35% below area Est $285k · 35% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• Appreciation +5.9/10.0
• 1% rule +5.6/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Ranch style home ideally situated within walking distance to Harvey's Lake. Highlights include a generously sized family room. large living room with a gas fireplace, abundant parking, and close proximity to the beach club with optional membership featuring a sandy beach, lifeguard & playground. Conveniently located across from the popular Grotto Pizza Restaurant.

Key facts

• Sandy beach
• Gas fireplace
• Large living room

Tags

• GENEROUSLY SIZED FAMILY ROOM
• LARGE LIVING ROOM
• GAS FIREPLACE
• ABUNDANT PARKING
• CLOSE PROXIMITY TO BEACH CLUB
• SANDY BEACH

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).

Location & tenants

• 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.
• 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: 36 active listings in the ZIP; 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.7% local appreciation)).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $285,498
• List price: $185,000
• Delta: -35.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Tower Ln	0.42mi	3/2.5	1,900 (+2%)	12mo	$399,999	$211	63
21 Sunset Ter	0.27mi	3/2.0	1,944 (+4%)	24mo	$285,000	$147	58
54 Old Lake Road Rd	0.23mi	4/3.0 (+1)	1,692 (-9%)	12mo	$512,500	$303	53
103 2nd St	0.70mi	3/2.0	1,824 (-2%)	14mo	$279,900	$153	50
8 Wilson St	0.73mi	2/2.0 (-1)	1,770 (-5%)	11mo	$220,000	$124	42
29 White Birch Rd	0.70mi	3/3.0	1,814 (-2%)	24mo	$410,000	$226	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.44×
• Total profit: $23,045
• Equity at exit: $70,149

10-year hold

• IRR: 11.8%
• Equity multiple: 2.55×
• Total profit: $80,099
• Equity at exit: $98,894

Cash invested: $51,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18618

• Home prices YoY: 0.6%
• Active inventory: 36
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,960 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $203

Break-even live

Break-even rent $1,702

Max offer price $185,000

Occupancy floor 85%

Sensitivity live

Price	-10% $331	-5% $267	+0% $203	+5% $139	+10% $75
Rent	-10% $48	-5% $126	+0% $203	+5% $281	+10% $358
Rate	-1.0pp $296	-0.5pp $250	base $203	+0.5pp $155	+1.0pp $106

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-16
   status Pending 372-char remark

   Show marketing remark (372 chars)

   Ranch style home ideally situated within walking distance to Harvey's Lake. Highlights include a generously sized family room. large living room with a gas fireplace, abundant parking, and close proximity to the beach club with optional membership featuring a sandy beach, lifeguard & playground. Conveniently located across from the popular Grotto Pizza Restaurant.

2. 2026-05-07
   status Active 372-char remark

   Show marketing remark (372 chars)

   Ranch style home ideally situated within walking distance to Harvey's Lake. Highlights include a generously sized family room. large living room with a gas fireplace, abundant parking, and close proximity to the beach club with optional membership featuring a sandy beach, lifeguard & playground. Conveniently located across from the popular Grotto Pizza Restaurant.

3. 2026-03-30
   status Pending 372-char remark

   Show marketing remark (372 chars)

   Ranch style home ideally situated within walking distance to Harvey's Lake. Highlights include a generously sized family room. large living room with a gas fireplace, abundant parking, and close proximity to the beach club with optional membership featuring a sandy beach, lifeguard & playground. Conveniently located across from the popular Grotto Pizza Restaurant.

4. 2026-03-27
   listed $185,000 Active 372-char remark

   Show marketing remark (372 chars)

   Ranch style home ideally situated within walking distance to Harvey's Lake. Highlights include a generously sized family room. large living room with a gas fireplace, abundant parking, and close proximity to the beach club with optional membership featuring a sandy beach, lifeguard & playground. Conveniently located across from the popular Grotto Pizza Restaurant.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,516
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,722
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$5,382
• Taxable loss: −$489
• Est. tax savings @ 24.0%: +$117
• After-tax cash flow: $2,555/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This home requires extensive repairs and updates to improve its condition and increase its value. The roof, exterior siding, flooring, interior walls, and bathrooms are in poor condition and need to be replaced or updated. Landscaping and painting will also improve the home's curb appeal and overall condition.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding shows signs of wear and discoloration.
• Major flooring — The flooring in the interior appears to be carpeted and in poor condition.
• Major interior walls — The interior walls show signs of wear and discoloration.
• Major bathrooms — The bathrooms appear to be in poor condition, with outdated fixtures and tiles.
• Major HVAC system — The HVAC system appears to be outdated and may need replacement.

Value-add opportunities

• Resale New roof — A new roof will significantly improve the home's curb appeal and overall condition, making it more attractive to potential buyers.
• Resale New exterior siding — New siding will improve the home's curb appeal and increase its value by making it look more modern and well-maintained.
• Resale New flooring — New flooring will improve the home's appearance and make it more attractive to potential buyers.
• Resale Paint interior walls — Painting the interior walls will make the home look more modern and well-maintained, increasing its value.
• Resale Update bathrooms — Updating the bathrooms with new fixtures and tiles will make the home more attractive to potential buyers and increase its value.
• Resale Replace HVAC system — Replacing the outdated HVAC system will improve the home's comfort and energy efficiency, making it more attractive to potential buyers.
• Both Landscaping — Landscaping will improve the home's curb appeal and increase its value, both for resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding shows signs of wear and discoloration.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be carpeted and in poor condition.	Major	$15,000–50,000
interior walls · The interior walls show signs of wear and discoloration.	Major	$15,000–50,000
bathrooms · The bathrooms appear to be in poor condition, with outdated fixtures and tiles.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be outdated and may need replacement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale New roof — A new roof will significantly improve the home's curb appeal and overall condition, making it more attractive to potential buyers. ↑
• Resale New exterior siding — New siding will improve the home's curb appeal and increase its value by making it look more modern and well-maintained. ↑
• Resale New flooring — New flooring will improve the home's appearance and make it more attractive to potential buyers. ↑
• Resale Paint interior walls — Painting the interior walls will make the home look more modern and well-maintained, increasing its value. ↑
• Resale Update bathrooms — Updating the bathrooms with new fixtures and tiles will make the home more attractive to potential buyers and increase its value. ↑
• Resale Replace HVAC system — Replacing the outdated HVAC system will improve the home's comfort and energy efficiency, making it more attractive to potential buyers. ↑
• Both Landscaping — Landscaping will improve the home's curb appeal and increase its value, both for resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lake-Lehman SD
• NCES district ID: 4213020
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 59% ▼ -5.00%
• Median HH income: $60,161
• Composite: 42.85/100
• National rank: #3129
• State rank: #176 of 539 in PA

Livability — Harveys Lake

• Score: 68/100
• State rank: #923
• US rank: #9992

Category grades

Amenities F Commute F Cost of living A Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harveys Lake, PA
• City population: 3,583
• Population (ZIP): 3,583

Population outlook (Luzerne County) Hauer SSP2

• Today (2025): 319,505 people
• By 2030: 319,943 · +0.1%
• By 2040: 322,643 · +1.0%
• By 2050: 330,817 · +3.5%
• By 2075: 379,145 · +18.7%
• By 2100: 431,908 · +35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 17% Scotch-Irish 3% Subsaharan African 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Luzerne

• 2024 margin: R (+19.2) · D 40.0% · R 59.2%
• 2008→2024 swing: -27.6pp toward R · 2008: 8.4pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+14.4 2016: R+19.6 2012: D+4.8 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.72%
• Current HPI: 314.2169
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

4 events — show timeline

• 2026-05-16 Pending — LCAR
• 2026-05-07 Relisted — LCAR
• 2026-03-30 Pending — LCAR
• 2026-03-27 Listed $185,000 LCAR