521 E Barnard St

West Chester, PA 19382

$314,900C-

3 bd · 1.0 ba · 1,036 sqft · Built 1900 · Townhouse · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,590/mo
• Mortgage (P&I): −$1,651
• Tax + insurance: −$360
• HOA: −$0
• Vac / Maint / Mgmt: −$544
• Net cashflow: $35/mo
• Annual: $416/yr
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• 1% rule: 0.82%
• Cash to close: $88,172

Investor read

• This is a 3-bed/1.0-bath townhouse listed at $315k.
• At list price, monthly cash flow is $35 ($416/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 $259k (17.7% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $259k (17.7% 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 $9k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#150 in PA, #1,252 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A, crime B+; Watch: commute C-, cost of living F.
• West Chester Area SD (suburban): math 56% / reading 74% proficiency, ranked #34 of 539 in PA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: East Goshen El Sch (math 77% / reading 87%, grade A+, #34 of 1,518 statewide, top 3%, 510 students, 18% FRL); J R Fugett Ms (math 40% / reading 75%, grade B, #61 of 512 statewide, top 13%, 908 students, 23% FRL); West Chester East Hs (math 86%, 1,251 students, 20% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.8%/yr); 215 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,513 units permitted in Chester County in 2024 (354 in 5+ unit buildings).
• Chester County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 30y ago; this cycle's ask is 85% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $123k; list at $315k implies a 156% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 2.6% in West Chester — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1900 — 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.
• 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?
• 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.