71 Jury St

Highspire, PA 17034

$364,900D+

3 bd · 2.0 ba · 1,860 sqft · Built 1920 · MultiFamily · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,704/mo
• Mortgage (P&I): −$1,914
• Tax + insurance: −$449
• HOA: −$0
• Vac / Maint / Mgmt: −$778
• Net cashflow: $564/mo
• Annual: $6,765/yr
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• 1% rule: 1.02%
• Cash to close: $102,172

Investor read

• This is a 1×2bd/1.0ba + 3×1bd/1.0ba units multifamily listed at $365k.
• At list price, monthly cash flow is $564 ($7k/yr) — positive. Per door: $141/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• It's been on market 49 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($3k loan paydown + $6k appreciation (1.5% local appreciation)).
• Location reads 63/100 on livability (#1,272 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Steelton-Highspire SD (suburban): math 2% / reading 9% proficiency, ranked #538 of 539 in PA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• 10 sale attempts since 20y 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 $270k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $102k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.3% vs local median 4.0% in Highspire — 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

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?