1214 Church Rd

Franklin, PA 17353

$135,000B+

4 bd · 2.0 ba · 2,865 sqft · Built 1950 · Other · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,769/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$401
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $289/mo
• Annual: $3,463/yr
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• 1% rule: 1.31%
• Cash to close: $37,800

Investor read

• This is a 4-bed/2.0-bath other listed at $135k.
• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 16 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#812 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, amenities F.
• Gettysburg Area SD (rural): math 46% / reading 60% proficiency, ranked #132 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklin Twp El Sch (math 57% / reading 67%, grade B, #313 of 1,518 statewide, top 24%, 369 students, 45% FRL); Gettysburg Area Ms (math 28% / reading 60%, grade D, #202 of 512 statewide, top 40%, 682 students, 43% FRL); Gettysburg Area Hs (math 80% / reading 24%, grade C-, #112 of 437 statewide, top 26%, 1,024 students, 37% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: flood insurance adds $125/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 26y 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 $90k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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 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.