Lakefront Cottage Rental
For Sale
$3,100,000
271 Route 390, Tafton, PA 18464
Ten individual cottages support a seasonal lodging operation, with public water and sewer service.
Property Size9,054 SF
Price / SF$342.39
Days on Market15
Property Features for 271 Route 390
General Information
Standard status
Active
Size
9,054 SF
Property subtype
Residential Income
Zoning
Commercial
Additional Details
Business Included
Yes
Utilities to Site
Yes
Multifamily Units
10
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$20,458
Amenities
private boat
docks
swimming platform
Dirt Floor,Crawl Space
Carpet,Ceramic Tile,Hardwood,Vinyl
true
10
2+ Common Walls,No Common Walls
2
false
Insulated Windows
Public Records
Living Room,Propane,Stone
Breakfast Nook,Eat-in Kitchen,Laminate Counters,Natural Woodwork,Other,See Remarks
7582
Each cabins appliances, 10 boats, 5 docks and 1 swimming platform.
Level,Subdivided,Cleared,Few Trees,Other,See Remarks
Public
Storm Door(s)
2.32
17
Other
Paved
Playground,Fire Pit,Other
Stone,Pillar/Post/Pier
State Road
9054
Public Maintained Road
Building Details
Building Size
9,054 SF
Year Built
1901
Stories
2
Listing Agency:
(570) 600-6561
Listed By:
Stephanie Tutty
Source:
Smartwayamerica
Added: Oct 16
Changed: Oct 29
Last Checked: Oct 29 at 2:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stephanie Tutty
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Investment Insights
Based on property information with market context.
This lakefront property includes 10 cottages across 2.32 acres, with approximately 270ft of shoreline on Fairview Lake. The site is served by public water and sewer and is zoned Commercial. Recreational features include five docks, a swimming platform, and 10 boats, with one boat associated with each cottage.
The property is on Route 390 in Tafton, Pennsylvania. Its existing cottage configuration and shoreline amenities support seasonal guest stays; the site also includes a playground and fire pit.
The property is on Route 390 in Tafton, Pennsylvania. Its existing cottage configuration and shoreline amenities support seasonal guest stays; the site also includes a playground and fire pit.
Key Highlights
- 10 cottages, each with a private boat
- 2.32 acres with approximately 270ft of Fairview Lake shoreline
- Five docks and one swimming platform
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,312
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,786,240
$1.8M
Cap Rate 7%
$1,275,886
$1.3M
Cap Rate 9%
$992,356
$992.4K
Market Conditions
NOI Build-Up for 9,054 SF
Gross rent
$172.8K $19.08/SF
− Vacancy
−$10.4K −$1.14/SF
EGI
$162.4K $17.94/SF
− OpEx
−$73.1K −$8.07/SF
NOI
$89.3K $9.86/SF
Area
Pike County, PA
Vacancy
6.00%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,786,240
Cap Rate 7%
$1,275,886
Cap Rate 9%
$992,356
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,312 @ 7.0% cap · market cap 2.88%
Second Best
Hotel Hospitality
$783.3K
$685.4K – $913.9K
NOI $54,833 @ 7.0% cap · market cap 1.77%
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,663 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
10
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 18464, PA
1,368
Population
1,314
Households
1
Avg Household Size
53
Median Age
19%
College-Educated
98%
High-School Grad
11.6 sq mi
ZIP Area
118
Density / Sq Mi
$75,855
Median Household Income
$41,885
Median Earnings
$1,474
Median Rent
$319,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Short term rental property - Ten individual cottages support a seasonal lodging operation, with public water and sewer service.
Where is this short term rental property located?
The property is located at 271 Route 390 Tafton, PA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 10 cottages, each with a private boat; 2.32 acres with approximately 270ft of Fairview Lake shoreline; Five docks and one swimming platform
