214 Messinger St

Bangor, PA 18013

$93,000B

3 bd · 1.0 ba · 1,278 sqft · Built 1900 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,679/mo
• Mortgage (P&I): −$488
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $567/mo
• Annual: $6,802/yr
• Cap rate: 13.61%
• Cash-on-cash: 26.12%
• DSCR: 2.16
• 1% rule: 1.81%
• Cash to close: $26,040

Investor read

• This is a 3-bed/1.0-bath single-family listed at $93k.
• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• It's been on market 21 days — a 2% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#886 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities F.
• Bangor Area SD (rural): math 50% / reading 60% proficiency, ranked #107 of 539 in PA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Washington El Sch (math 60% / reading 63%, grade B, #360 of 1,518 statewide, top 24%, 424 students, 48% FRL); Bangor Area Ms (math 31% / reading 53%, grade D-, #221 of 512 statewide, top 45%, 455 students, 48% FRL); Bangor Area Hs (math 77% / reading 72%, grade B+, #32 of 437 statewide, top 7%, 887 students, 35% FRL).
• Watch-outs: property tax is 3.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• 6 sale attempts since 9y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.6% vs local median 4.2% in Bangor — 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?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.