9128 Slateville Rd

Lynn, PA 19529

$185,000C-

3 bd · 1.0 ba · 1,188 sqft · Built 1860 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,411/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $-79/mo
• Annual: $-945/yr
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• 1% rule: 0.76%
• Cash to close: $51,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $-79 ($-945/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (23.7% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $141k (23.7% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (4.9% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Northwestern Lehigh SD (rural): math 42% / reading 60% proficiency, ranked #128 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Northwestern Lehigh El Sch (math 32% / reading 52%, grade F, #883 of 1,518 statewide, top 61%, 423 students, 26% FRL); Northwestern Lehigh Ms (math 36% / reading 58%, grade D+, #163 of 512 statewide, top 33%, 465 students, 25% FRL); Northwestern Lehigh Hs (math 67%, 695 students, 14% FRL).
• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 765 units permitted in Lehigh County in 2024 (286 in 5+ unit buildings).
• Lehigh County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts 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 $69k; list at $185k implies a 168% gain — meaningful room to come down on a strong offer.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.