1889 Jamestown Ln #1889

North Codorus, PA 17408

$225,000C-

3 bd · 2.5 ba · 1,690 sqft · Built 2006 · Townhouse · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,495/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$387
• HOA: −$110
• Vac / Maint / Mgmt: −$524
• Net cashflow: $294/mo
• Annual: $3,528/yr
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• 1% rule: 1.11%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $225k.
• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Spring Grove Area SD (suburban): math 45% / reading 65% proficiency, ranked #98 of 539 in PA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Spring Grove Area Hs (math 71%, 1,166 students, 32% FRL).
• Market conditions: 146 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 2 sale attempts since 20y ago; this cycle's ask is 29% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $150k; list at $225k implies a 50% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 32% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.