651 Bamboo Ln

Blain, PA 17047

$240,000D-

3 bd · 2.0 ba · 1,764 sqft · Built 1880 · SingleFamily · Pending · 149 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,572/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$312
• HOA: −$0
• Vac / Maint / Mgmt: −$330
• Net cashflow: $-329/mo
• Annual: $-3,950/yr
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• 1% rule: 0.65%
• Cash to close: $67,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-329 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (24.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (34.5% below list).
• It's been on market 149 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (34.5% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.5% local appreciation)).
• Location reads 62/100 on livability (#1,331 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• West Perry SD (rural): math 37% / reading 60% proficiency, ranked #189 of 539 in PA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blain El Sch (math 52% / reading 57%, grade C, #504 of 1,518 statewide, top 37%, 263 students, 60% FRL); West Perry Ms (math 23% / reading 61%, grade D-, #221 of 512 statewide, top 45%, 496 students, 52% FRL); West Perry Shs (math 72% / reading 87%, grade A-, #19 of 437 statewide, top 4%, 686 students, 38% FRL) — zoned schools average 50% FRL vs 32% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 107 units permitted in Perry County in 2024 (0 in 5+ unit buildings).
• Perry County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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 149 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1880 — 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?
• 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.
• 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?
• 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.