100 Rutgers Ave #9

Swarthmore, PA 19081

$324,900F

2 bd · 2.0 ba · 1,408 sqft · Built 1980 · Condo · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,381/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$542
• HOA: −$515
• Vac / Maint / Mgmt: −$500
• Net cashflow: $-879/mo
• Annual: $-10,549/yr
• Cap rate: 3.05%
• Cash-on-cash: -11.60%
• DSCR: 0.48
• 1% rule: 0.73%
• Cash to close: $90,972

Investor read

• This is a 2-bed/2.0-bath condo listed at $325k.
• At list price, monthly cash flow is $-879 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (39.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (26.7% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $198k (39.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#28 in PA, #162 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Wallingford-Swarthmore SD (suburban): math 63% / reading 77% proficiency, ranked #16 of 539 in PA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Swarthmore-Rutledge Sch (math 77% / reading 83%, grade A+, #47 of 1,518 statewide, top 3%, 554 students, 8% FRL); Strath Haven Ms (math 47% / reading 71%, grade B, #50 of 512 statewide, top 10%, 909 students, 16% FRL); Strath Haven Hs (math 74%, 1,159 students, 17% FRL) — zoned schools at 14% FRL track the district average.
• Watch-outs: HOA is 22% of rent.
• Market conditions: 42 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.