932 Forrester Ave · Darby, PA 19023

$110,000

4 bd · 1.0 ba · 1,288 sqft · Townhouse public records · 1 Days on market

Built 1910 1,307 sqft lot Est $207k · 47% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful home was totally remodeled in 2014!! Enter into the large, bright & open living room/dining room offering hardwood flooring & plenty of windows for lots of natural lighting! Living room offers a ceiling fan. Off the living room you will find an updated half bath with vanity, tile backsplash, & tile flooring. Next you will find a great sized kitchen with ample counter space & cabinet space! Tile flooring, tile backsplash, stainless gas stove & built in microwave & even a French door, stainless steel refrigerator!! Off the kitchen you will find a great sized laundry room with a wash tub & even a folding area! Off the laundry room is your fully fenced yard with brand new 6' tall privacy fence. Upstairs are 3 generous sized bedrooms & the full bathroom also offering tile flooring, tile shower with tub, and vanity. Entire house offers brand new carpet & paint. Roof was redone in March of 2020, HVAC was replaced in 2014. All new blinds throughout. This home has so much to offer! Move right in, or add it to your rental portfolio and start collecting rent!!

Key facts

• Employment centers
• Built 1910

Tags

• TURNKEY INVESTMENT PROPERTY
• HIGH DEMAND RENTAL MARKET
• MAJOR ROADWAYS SHOPPING
• EMPLOYMENT CENTERS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Finished above-grade living area reported by assessor
• Construction: Stucco exterior; Permanent foundation
• Exterior features: Lot dimensions approximately 16 x 78; No tidal water

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 12.4% vs local median 6.3% in Darby — 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.

Location & tenants

• Location reads 74/100 on livability (#485 in PA, #4,468 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, employment D, schools F.
• William Penn SD (suburban): math 11% / reading 28% proficiency, ranked #491 of 539 in PA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+13.1%/yr); 98 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• At $1,896/mo this rent would consume 49% of the median local household income ($46k/yr) (locally 1468% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 12.41%
• Cash-on-cash: 21.85%
• DSCR: 1.97
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $207,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
902 Maple Ter	0.06mi	3/1.0 (-1)	1,234 (-4%)	0mo	$114,000	$92	85
1300 Wycombe Ave	0.34mi	3/1.0 (-1)	1,190 (-8%)	1mo	$129,000	$108	66
217 N 7th St	0.28mi	3/2.0 (-1)	1,188 (-8%)	1mo	$140,000	$118	64
4 S 6th St	0.37mi	3/1.5 (-1)	1,210 (-6%)	2mo	$209,000	$173	64
104 S 3rd St	0.60mi	3/1.0 (-1)	1,312 (+2%)	1mo	$150,000	$114	63
234 Spring Valley Rd	0.24mi	3/1.0 (-1)	1,120 (-13%)	0mo	$130,000	$116	62
123 Spring Valley Rd	0.25mi	3/1.0 (-1)	1,120 (-13%)	1mo	$180,000	$161	61
306 Berbro St	0.53mi	3/1.5 (-1)	1,342 (+4%)	2mo	$165,000	$123	60
1232 Edgehill Rd	0.28mi	3/1.0 (-1)	1,120 (-13%)	1mo	$214,000	$191	60
1339 Park Ln	0.37mi	3/1.0 (-1)	1,120 (-13%)	2mo	$230,000	$205	55
33 Mermont Cir	0.39mi	3/1.0 (-1)	1,120 (-13%)	0mo	$200,000	$179	54
412 Pusey Ave	0.74mi	3/1.0 (-1)	1,202 (-7%)	2mo	$245,000	$204	48

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 1.91×
• Total profit: $28,044
• Equity at exit: $16,401

10-year hold

• IRR: 32.5%
• Equity multiple: 4.78×
• Total profit: $116,563
• Equity at exit: $9,511

Cash invested: $30,800 (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 19023

• Rents YoY: 13.1%
• Active inventory: 98
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$577
• Tax from tax record: −$314 /mo · $3,771/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $561

Break-even live

Break-even rent $1,186

Max offer price $110,000

Occupancy floor 65%

Sensitivity live

Price	-10% $623	-5% $592	+0% $561	+5% $530	+10% $498
Rent	-10% $411	-5% $486	+0% $561	+5% $636	+10% $710
Rate	-1.0pp $616	-0.5pp $589	base $561	+0.5pp $532	+1.0pp $503

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
924 Maple Ter Darby, PA	3.0	1.5	1190	$2,000	$1.68	6d	1	0.06mi
935 Maple Ter Darby, PA	3.0	1.0	1266	$1,585	$1.25	12d	1	0.08mi
935 Maple Ter Darby, PA	3.0	1.0	1266	$1,585	$1.25	6d	1	0.08mi
220 N 9th St Darby, PA	5.0	1.5	1600	$2,800	$1.75	6d	1	0.17mi
909 Springfield Rd Unit D Darby, PA	4.0	1.0	900	$1,600	$1.78	45d	1	0.23mi
69 S 7th St Darby, PA	3.0	2.0	1446	$1,700	$1.18	45d	1	0.29mi
209 Hamilton Ave Darby, PA	4.0	1.0	1400	$1,595	$1.14	16d	1	0.32mi
94 S 6th St Darby, PA	3.0	1.5	1666	$2,000	$1.20	25d	1	0.39mi
2 Winthrop Rd Darby, PA	3.0	1.5	1224	$1,900	$1.55	23d	1	0.46mi
37 Concord Rd Darby, PA	3.0	1.0	1120	$1,795	$1.60	45d	1	0.47mi
304 S 3rd St Darby, PA	3.0	1.0	1602	$1,595	$1.00	21d	1	0.67mi
304 S 3rd St Darby, PA	3.0	1.0	1602	$1,695	$1.06	45d	1	0.67mi
412 S 2nd St Darby, PA	3.0	1.0	1190	$1,100	$0.92	6d	1	0.78mi
417 S 2nd St Darby, PA	3.0	1.0	1190	$1,020	$0.86	6d	1	0.82mi
534 S 4th St Darby, PA	3.0	1.0	1500	$1,695	$1.13	0d	1	0.86mi
118 Felton Ave Darby, PA	3.0	1.0	1152	$1,750	$1.52	23d	1	0.93mi
112 Juliana Ter Darby, PA	3.0	1.0	1020	$2,450	$2.40	25d	1	0.97mi
112 Juliana Ter Darby, PA	3.0	1.0	1020	$2,350	$2.30	45d	1	0.97mi
619 Baily Rd Lansdowne, PA	3.0	1.0	1288	$1,850	$1.44	19d	1	1.06mi
1200 Angora Dr Lansdowne, PA	3.0	1.0	1530	$2,300	$1.50	6d	1	1.38mi
66 Folcroft Ave Folcroft, PA	3.0	1.0	1224	$1,895	$1.55	5d	1	1.49mi

Listing history 2 events

1. 2026-06-08
   remarks 693-char remark
2. 2026-06-08
   listed $110,000 Active 1 DOM

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $3,771 · $314/mo
• Projected year-2 tax: $3,771 · $314/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,749
• − Mortgage interest: −$6,162
• − Property taxes: −$3,771
• − Insurance: −$550
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$3,200
• Taxable income: $5,427
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $5,426/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.

Schools (NCES district)

• District: William Penn SD
• NCES district ID: 4226390
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $48,543
• Composite: 17.29/100
• National rank: #9086
• State rank: #491 of 539 in PA

Livability — Darby

• Score: 74/100
• State rank: #485
• US rank: #4468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Darby, PA
• County: Delaware County · 399,863 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 22,247
• Household income: $46,463
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 1468.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 577,490 people
• By 2030: 581,243 · +0.6%
• By 2040: 584,700 · +1.2%
• By 2050: 586,581 · +1.6%
• By 2075: 598,706 · +3.7%
• By 2100: 590,823 · +2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 15% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Swiss 5% Hispanic 1% Romanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 84% English-only · French/Haitian/Cajun 4% Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Delaware

• 2024 margin: Strong D (+23.7) · D 61.4% · R 37.6% · Other 1.0%
• 2008→2024 swing: +2.3pp toward D · 2008: 21.4pp · 2024: 23.7pp
• All cycles: 2024: D+23.7 2020: D+26.7 2016: D+22.0 2012: D+21.8 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -190.50%
• Current HPI: 277.7034
• Rent YoY: ▲ 13.10%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+547.1% since first listed

19 events — show timeline

• 2026-06-08 Price Changed $110,000 BRIGHT MLS
• 2026-06-08 Listed $130,000 BRIGHT MLS
• 2025-10-27 Listing Removed — BRIGHT MLS
• 2025-10-22 Price Changed $130,000 BRIGHT MLS
• 2025-10-17 Relisted — BRIGHT MLS
• 2025-10-16 Listing Removed — BRIGHT MLS
• 2025-10-16 Listed $140,000 BRIGHT MLS
• 2020-07-22 Sold (Public Records) $75,000 Public Records
• 2020-06-15 Sold (MLS) $75,000 BRIGHT MLS
• 2020-04-21 Pending — BRIGHT MLS
• 2020-04-02 Contingent — BRIGHT MLS
• 2020-03-29 Relisted — BRIGHT MLS
• 2020-03-20 Contingent — BRIGHT MLS
• 2020-03-17 Listed $74,900 BRIGHT MLS
• 2013-08-09 Listing Removed — BRIGHT MLS
• 2012-08-09 Listed $22,950 BRIGHT MLS
• 2004-04-08 Sold (MLS) $17,000 BRIGHT MLS
• 2004-03-14 Listing Removed — BRIGHT MLS
• 2003-10-19 Listed $17,000 BRIGHT MLS

Property tax history

+2.5%/yr

Latest (2026): $3,771 · -0.5% YoY. Source: county tax records.