2271 Garards Fort Rd · Morrisville, PA 15370

$198,000

3 bd · 0.5 ba · 1,360 sqft · SingleFamily public records · 111 Days on market

Built 1900 0.80 ac lot $146/sqft · 42% below area Est $339k · 42% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +6.5/30.0
• Appreciation +6.1/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +0.7/10.0

Listing remarks MLS

Country setting with convenience! This three-bedroom, one-and-a-half bath frame home with vinyl siding sits on a beautiful 0.8 acre level lot in Franklin Township. The first floor features a open floor plan, creating a spacious and welcoming feel that's perfect for everyday living and entertaining. Outside, you will find not one but two detached garages-a two car garage plus an additional one-car-providing excellent space for vehicles, storage, hobbies, or a workshop. Located in a peaceful country setting yet just minutes from I-79, shopping, dining, and other amenities, this property offers the best of both worlds: privacy and accessibility. A great opportunity for anyone looking for space, convenience, and a solid home in a desirable location.

Key facts

• Open floor plan
• Peaceful location
• Level lot

Tags

• LEVEL LOT
• OPEN FLOOR PLAN
• TWO DETACHED GARAGES
• PEACEFUL LOCATION
• MINUTES FROM I-79

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $-339 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (30.4% below list).
• Recommended offer: $138k (30.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#174 in PA, #1,447 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools B+.
• Central Greene SD (town): math 24% / reading 40% proficiency, ranked #434 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.2% local appreciation)).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago 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.
• Current owner paid $100k; list at $198k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,901 (30.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 4.24%
• Cash-on-cash: -7.33%
• DSCR: 0.67
• GRM: 12.0

CMA / ARV

• ARV (median comp): $339,145
• List price: $198,000
• Delta: -41.62%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Chestnut Ave	0.57mi	3/2.5	1,400 (+3%)	19mo	$339,900	$243	45

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

Projected returns pro-forma

2.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.89×
• Total profit: $-5,867
• Equity at exit: $80,302

10-year hold

• IRR: 2.6%
• Equity multiple: 1.36×
• Total profit: $20,003
• Equity at exit: $117,356

Cash invested: $55,440 (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 15370

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$1,038
• Tax from tax record: −$307 /mo · $3,688/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-339

Break-even live

Break-even rent $1,808

Max offer price $138,164

Occupancy floor —

Sensitivity live

Price	-10% $-227	-5% $-283	+0% $-339	+5% $-395	+10% $-451
Rent	-10% $-448	-5% $-393	+0% $-339	+5% $-284	+10% $-230
Rate	-1.0pp $-239	-0.5pp $-288	base $-339	+0.5pp $-390	+1.0pp $-442

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $198,000 Active 111 DOM
2. 2026-06-18
   days on market $198,000 Active 110 DOM
3. 2026-06-17
   days on market $198,000 Active 109 DOM
4. 2026-06-16
   days on market $198,000 Active 108 DOM
5. 2026-06-15
   days on market $198,000 Active 107 DOM
6. 2026-06-14
   days on market $198,000 Active 105 DOM
7. 2026-06-13
   days on market $198,000 Active 104 DOM
8. 2026-06-10
   days on market $198,000 Active 102 DOM
9. 2026-06-09
   days on market $198,000 Active 101 DOM
10. 2026-06-08
    days on market $198,000 Active 100 DOM
11. 2026-06-07
    days on market $198,000 Active 99 DOM
12. 2026-06-05
    statusdays on market $198,000 Active 96 DOM
13. 2026-06-03
    days on market $198,000 Contingent 95 DOM
14. 2026-06-02
    days on market $198,000 Contingent 94 DOM
15. 2026-06-01
    days on market $198,000 Contingent 93 DOM
16. 2026-05-31
    days on market $198,000 Contingent 92 DOM
17. 2026-05-30
    days on market $198,000 Contingent 91 DOM
18. 2026-05-03
    historical Contingent 755-char remark

    Show marketing remark (755 chars)

    Country setting with convenience! This three-bedroom, one-and-a-half bath frame home with vinyl siding sits on a beautiful 0.8 acre level lot in Franklin Township. The first floor features a open floor plan, creating a spacious and welcoming feel that's perfect for everyday living and entertaining. Outside, you will find not one but two detached garages-a two car garage plus an additional one-car-providing excellent space for vehicles, storage, hobbies, or a workshop. Located in a peaceful country setting yet just minutes from I-79, shopping, dining, and other amenities, this property offers the best of both worlds: privacy and accessibility. A great opportunity for anyone looking for space, convenience, and a solid home in a desirable location.

19. 2026-04-13
    price $198,000 755-char remark

    Show marketing remark (755 chars)

    Country setting with convenience! This three-bedroom, one-and-a-half bath frame home with vinyl siding sits on a beautiful 0.8 acre level lot in Franklin Township. The first floor features a open floor plan, creating a spacious and welcoming feel that's perfect for everyday living and entertaining. Outside, you will find not one but two detached garages-a two car garage plus an additional one-car-providing excellent space for vehicles, storage, hobbies, or a workshop. Located in a peaceful country setting yet just minutes from I-79, shopping, dining, and other amenities, this property offers the best of both worlds: privacy and accessibility. A great opportunity for anyone looking for space, convenience, and a solid home in a desirable location.

20. 2026-02-28
    listed $200,000 Active 755-char remark

    Show marketing remark (755 chars)

    Country setting with convenience! This three-bedroom, one-and-a-half bath frame home with vinyl siding sits on a beautiful 0.8 acre level lot in Franklin Township. The first floor features a open floor plan, creating a spacious and welcoming feel that's perfect for everyday living and entertaining. Outside, you will find not one but two detached garages-a two car garage plus an additional one-car-providing excellent space for vehicles, storage, hobbies, or a workshop. Located in a peaceful country setting yet just minutes from I-79, shopping, dining, and other amenities, this property offers the best of both worlds: privacy and accessibility. A great opportunity for anyone looking for space, convenience, and a solid home in a desirable location.

21. 2005-11-03
    soldstatus $100,000 182-char remark

    Show marketing remark (182 chars)

    TM #07-07-120; DBV 242/513;FEATURES NEW WIN DOWS-DOORS-SIDING-CENT A/C-GAS F/A FURNACE- ROOF-ELECTRIC & PLUMBING; PUBLIC WATER AVAIL. ; CATHEDRAL CEILINGS; VERY UNIQUE; COUNTRY L

22. 2005-10-28
    soldstatus $100,000
23. 2005-04-10
    listed $139,000 182-char remark

    Show marketing remark (182 chars)

    TM #07-07-120; DBV 242/513;FEATURES NEW WIN DOWS-DOORS-SIDING-CENT A/C-GAS F/A FURNACE- ROOF-ELECTRIC & PLUMBING; PUBLIC WATER AVAIL. ; CATHEDRAL CEILINGS; VERY UNIQUE; COUNTRY L

24. 2001-09-17
    soldstatus $40,000

ⓘ 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: $3,688 · $307/mo
• Projected year-2 tax: $3,688 · $307/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,548
• − Mortgage interest: −$11,091
• − Property taxes: −$3,688
• − Insurance: −$990
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$5,760
• Taxable loss: −$7,628
• Est. tax savings @ 24.0%: +$1,831
• After-tax cash flow: $-2,234/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: Central Greene SD
• NCES district ID: 4205430
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 40% ▼ -16.00%
• Median HH income: $48,139
• Composite: 27.62/100
• National rank: #6926
• State rank: #434 of 539 in PA

Livability — Morrisville

• Score: 81/100
• State rank: #174
• US rank: #1447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 53,885
• Population (ZIP): 13,578

Population outlook (Greene County) Hauer SSP2

• Today (2025): 34,975 people
• By 2030: 33,554 · -4.1%
• By 2040: 30,615 · -12.5%
• By 2050: 27,819 · -20.5%
• By 2075: 21,678 · -38.0%
• By 2100: 16,318 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Serbian 2% Slovak 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+44.8) · D 26.6% · R 71.5% · Other 1.9%
• 2008→2024 swing: -44.4pp toward R · 2008: -0.4pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+43.4 2016: R+41.7 2012: R+17.6 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.20%
• Current HPI: 175.8258
• 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

+395.0% since first listed

7 events — show timeline

• 2026-05-03 Contingent — West Penn MLS
• 2026-04-13 Price Changed $198,000 West Penn MLS
• 2026-02-28 Listed $200,000 West Penn MLS
• 2005-11-03 Sold (MLS) $100,000 West Penn MLS
• 2005-10-28 Sold (Public Records) $100,000 Public Records
• 2005-04-10 Listed $139,000 West Penn MLS
• 2001-09-17 Sold (Public Records) $40,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $3,688 · +0.0% YoY. Source: county tax records.