238 Hamlin Hwy

Mount Cobb, PA 18444

$204,500C

3 bd · 2.0 ba · 1,342 sqft · Built 1988 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,893/mo
• Mortgage (P&I): −$1,072
• Tax + insurance: −$287
• HOA: −$0
• Vac / Maint / Mgmt: −$397
• Net cashflow: $136/mo
• Annual: $1,634/yr
• Cap rate: 7.09%
• Cash-on-cash: 2.85%
• DSCR: 1.13
• 1% rule: 0.93%
• Cash to close: $57,260

Investor read

• This is a 3-bed/2.0-bath single-family listed at $204k.
• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (7.4% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $189k (7.4% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#642 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Western Wayne SD (rural): math 39% / reading 63% proficiency, ranked #165 of 539 in PA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 97 active listings in the ZIP; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 18y 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 $128k; list at $204k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.