100 West Ave Unit 525S

Jenkintown, PA 19046

$167,900D

2 bd · 2.0 ba · 1,092 sqft · Built 1965 · Condo · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,934/mo
• Mortgage (P&I): −$880
• Tax + insurance: −$280
• HOA: −$702
• Vac / Maint / Mgmt: −$406
• Net cashflow: $-335/mo
• Annual: $-4,016/yr
• Cap rate: 3.90%
• Cash-on-cash: -8.54%
• DSCR: 0.62
• 1% rule: 1.15%
• Cash to close: $47,012

Investor read

• This is a 2-bed/2.0-bath condo listed at $168k.
• At list price, monthly cash flow is $-335 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (28.8% below list).
• Meets the 1% rule at list price ($2k rent vs $168k).
• It's been on market 72 days — a 6% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (28.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 94/100 on livability (#3 in PA, #7 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D.
• Jenkintown SD (suburban): math 47% / reading 81% proficiency, ranked #49 of 539 in PA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Jenkintown El Sch (math 52% / reading 77%, grade B, #249 of 1,518 statewide, top 19%, 404 students, 20% FRL); Jenkintown Middle/High School (math 37% / reading 82%, grade C+, #80 of 437 statewide, top 18%, 304 students, 22% FRL).
• Watch-outs: HOA is 36% of rent.
• Market conditions: Rents rising fast (+5.0%/yr); 38 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).
• Montgomery County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 11 sale attempts since 17y ago; this cycle's ask has dropped $17k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $137k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.9% vs local median 1.5% in Jenkintown — 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 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 72 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?