1004 Gringo Rd

South Heights, PA 15001

$157,000D+

2 bd · 1.0 ba · 1,000 sqft · Built 1947 · SingleFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,328/mo
• Mortgage (P&I): −$823
• Tax + insurance: −$222
• HOA: −$0
• Vac / Maint / Mgmt: −$279
• Net cashflow: $4/mo
• Annual: $46/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• 1% rule: 0.85%
• Cash to close: $43,960

Investor read

• This is a 2-bed/1.0-bath single-family listed at $157k.
• At list price, monthly cash flow is $4 ($46/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 $133k (15.4% below list).
• It's been on market 94 days — a 9% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (15.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#368 in PA, #3,206 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, health & safety F.
• Hopewell Area SD (suburban): math 36% / reading 60% proficiency, ranked #191 of 539 in PA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.0%/yr); 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 272 units permitted in Beaver County in 2024 (80 in 5+ unit buildings).
• Beaver County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• Cap rate 6.3% vs local median 3.2% in South Heights — 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 94 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.