178 Elephant Rd Unit B13 · Dublin, PA 18917

$215,000

2 bd · 1.0 ba · 970 sqft · Condo · 49 Days on market

Built 1985 Average condition $222/sqft · 11% below area Est $242k · 11% under $220/mo HOA · 11% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +12.6/15.0
• Cash flow +9.7/30.0
• Schools +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the charming Countryside Estates, this inviting 2-bedroom, 1-bathroom condo offers a perfect blend of comfort and convenience. The spacious entry-level bedroom provides easy access, while the well-appointed bathroom features a relaxing tub shower, ideal for unwinding after a long day. The heart of the home boasts a functional kitchen equipped with essential appliances, including a dishwasher, electric oven/range, and refrigerator, making meal prep a breeze. Enjoy the ease of common laundry facilities just steps away, enhancing your daily routine. With an association that covers lawn maintenance, snow removal, and trash services, you can spend more time living life well. This Colo

Key facts

• $220 HOA
• Built 1985
• Listed 49 days

Property features AI

Finance

• Other: Property manager present; Pets allowed with no restrictions
• HOA & community: Monthly condo fee of $220; Professionally managed off-site; HOA covers common area maintenance, exterior building maintenance, lawn care, snow removal, and trash; Community amenities include laundry facilities and a tot lot/playground

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric utilities
• Home design: Condominium unit; Garden-style building (1–4 floors); Single-floor unit (one level); Entry on level 1; Located in Dublin Borough
• Construction: Frame construction; Slab foundation; Unit/flat structure; Year built (estimated)
• Exterior features: Above-grade structure; No tidal water

Interior

• Kitchen: Dishwasher; Electric range/oven; Range hood; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Electric baseboard heat; Wall-unit cooling; Electric hot water; Circuit breaker electrical service
• Interior features: Tub with shower; Entry-level bedroom; Estimated living area
• Laundry & utility: Common laundry facilities (not in-unit)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $215k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (8.0% below list).
• Recommended offer: $194k (9.6% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.1% in Dublin — 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.

Location & tenants

• Location reads 64/100 on livability (#1,201 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-, housing A-; Watch: amenities F, commute F, health & safety F.
• Pennridge SD (suburban): math 45% / reading 61% proficiency, ranked #112 of 539 in PA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Bedminster El Sch (math 65% / reading 73%, grade A-, #178 of 1,518 statewide, top 12%, 420 students, 23% FRL); Pennridge North Ms (math 35% / reading 67%, grade C, #116 of 512 statewide, top 24%, 581 students, 28% FRL); Pennridge Hs (math 67% / reading 24%, grade D-, #183 of 437 statewide, top 43%, 2,285 students, 21% FRL).
• Market conditions: 10 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,384 (9.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 9.1

CMA / ARV

• ARV (median comp): $242,346
• List price: $215,000
• Delta: -11.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.27×
• Total profit: $-43,748
• Equity at exit: $32,057

10-year hold

• IRR: -14.1%
• Equity multiple: 0.18×
• Total profit: $-49,109
• Equity at exit: $18,589

Cash invested: $60,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18917

• Home prices YoY: -23.8%
• Active inventory: 10
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$220
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-142

Break-even live

Break-even rent $2,159

Max offer price $194,384

Occupancy floor —

Sensitivity live

Price	-10% $6	-5% $-68	+0% $-142	+5% $-217	+10% $-291
Rent	-10% $-299	-5% $-221	+0% $-142	+5% $-64	+10% $14
Rate	-1.0pp $-34	-0.5pp $-88	base $-142	+0.5pp $-198	+1.0pp $-255

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
178 Elephant Rd Dublin, PA	2.0	1.0	970	$1,900	$1.96	7d	1	0.02mi
172 Elephant Rd Unit 2 Dublin, PA	2.0	1.0	1023	$1,875	$1.83	6d	1	0.06mi
125 Allem Ln Perkasie, PA	2.0	1.0	1100	$2,000	$1.82	4d	1	0.22mi
301 Station Dr Dublin, PA	1.0–2.0	1.0–2.0	897	$2,400	$2.67	0d	6	0.32mi
160 Middle Rd Dublin, PA	1.0–2.0	1.0–2.0	897	$2,409	$2.69	0d	12	0.83mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Likely covers: trashelectricsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   status $215,000 Pending 49 DOM
2. 2026-06-18
   days on market $215,000 Active 49 DOM
3. 2026-06-17
   days on market $215,000 Active 48 DOM
4. 2026-06-16
   days on market $215,000 Active 47 DOM
5. 2026-06-15
   days on market $215,000 Active 46 DOM
6. 2026-06-13
   days on market $215,000 Active 44 DOM
7. 2026-06-09
   days on market $215,000 Active 40 DOM
8. 2026-06-08
   days on market $215,000 Active 39 DOM
9. 2026-06-07
   days on market $215,000 Active 38 DOM
10. 2026-06-04
    days on market $215,000 Active 35 DOM
11. 2026-06-03
    days on market $215,000 Active 34 DOM
12. 2026-06-02
    days on market $215,000 Active 33 DOM
13. 2026-06-01
    days on market $215,000 Active 32 DOM
14. 2026-05-31
    days on market $215,000 Active 31 DOM
15. 2026-05-01
    listed $215,000 Active 881-char remark
16. 2026-04-29
    historical $215,000 881-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,747
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − HOA: −$2,640
• − Depreciation: −$6,255
• Taxable loss: −$5,290
• Est. tax savings @ 24.0%: +$1,270
• After-tax cash flow: $-440/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This 2-bedroom, 1-bathroom condo in Countryside Estates requires cosmetic updates to paint, flooring, and window treatments to improve its condition and value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Need cleaning
• Minor Exterior siding — Weathered appearance
• Minor Carpeted floors — Worn appearance
• Minor Paint — Faded appearance

Value-add opportunities

• Both Painting and cleaning — Enhances curb appeal and interior condition
• Both New flooring — Improves living space and rental appeal
• Both New window treatments — Enhances curb appeal and interior condition
• Both Kitchen updates — Modernizes space and improves functionality
• Both Landscaping — Enhances curb appeal and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Need cleaning	Minor	$500–3,000
Exterior siding · Weathered appearance	Minor	$500–3,000
Carpeted floors · Worn appearance	Minor	$500–3,000
Paint · Faded appearance	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Painting and cleaning — Enhances curb appeal and interior condition ↑
• Both New flooring — Improves living space and rental appeal ↑
• Both New window treatments — Enhances curb appeal and interior condition ↑
• Both Kitchen updates — Modernizes space and improves functionality ↑
• Both Landscaping — Enhances curb appeal and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Pennridge SD
• NCES district ID: 4218750
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 61% ▼ -14.00%
• Median HH income: $73,770
• Composite: 47.48/100
• National rank: #2277
• State rank: #112 of 539 in PA

Livability — Dublin

• Score: 64/100
• State rank: #1201
• US rank: #14126

Category grades

Amenities F Commute F Cost of living B Crime A+ Employment A- Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dublin, PA
• City population: 2,176
• Population (ZIP): 2,176

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Iranian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 2%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.66%
• Current HPI: 296.6992
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-18 Pending — BRIGHT MLS
• 2026-05-01 Listed $215,000 BRIGHT MLS
• 2026-04-29 Coming Soon $215,000 BRIGHT MLS