86 N York Rd

Upper Moreland, PA 19090

$460,000B-

4 bd · None ba · — sqft · Built 1920 · MultiFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,773/mo
• Mortgage (P&I): −$2,412
• Tax + insurance: −$767
• HOA: −$0
• Vac / Maint / Mgmt: −$1,632
• Net cashflow: $2,962/mo
• Annual: $35,541/yr
• Cap rate: 14.02%
• Cash-on-cash: 27.59%
• DSCR: 2.23
• 1% rule: 1.69%
• Cash to close: $128,800

Investor read

• This is a 4-bed/?-bath multifamily listed at $460k. Condition is rated good.
• At list price, monthly cash flow is $3k ($36k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $460k).
• It's been on market 62 days — a 6% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $432k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Upper Moreland Township SD (suburban): math 41% / reading 62% proficiency, ranked #137 of 539 in PA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Upper Moreland El Sch (1,576 students, 39% FRL); Upper Moreland Ms (math 30% / reading 60%, grade D, #187 of 512 statewide, top 38%, 812 students, 42% FRL); Upper Moreland Hs (math 87%, 976 students, 36% FRL) — zoned schools average 39% FRL vs 23% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.5%/yr); 32 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $129k cash investment doubles in ~5 years — after that, you're playing with house money.
• At $7,773/mo this rent would consume 93% of the median local household income ($100k/yr) (locally 468% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.