23 W George St

Yoe, PA 17313

$266,990D-

4 bd · 1.5 ba · 1,624 sqft · Built 1902 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,088/mo
• Mortgage (P&I): −$1,400
• Tax + insurance: −$498
• HOA: −$0
• Vac / Maint / Mgmt: −$438
• Net cashflow: $-248/mo
• Annual: $-2,978/yr
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $74,757

Investor read

• This is a 4-bed/1.5-bath single-family listed at $267k.
• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (21.8% below list).
• It's been on market 18 days — a 2% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $209k (21.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#835 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Dallastown Area SD (suburban): math 47% / reading 63% proficiency, ranked #102 of 539 in PA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dallastown Area Shs (math 71% / reading 24%, grade D, #164 of 437 statewide, top 38%, 2,014 students, 33% FRL).
• Watch-outs: flood insurance adds $56/mo; built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 3 sale attempts since 27y 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 $220k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — 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?
• Built in 1902 — 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 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?
• 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.
• 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.