133 White St

Shenandoah, PA 17976

$260,000B+

3 bd · 3.0 ba · 3,960 sqft · Built 1900 · MultiFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,200/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$882
• Net cashflow: $1,717/mo
• Annual: $20,606/yr
• Cap rate: 14.47%
• Cash-on-cash: 29.22%
• DSCR: 2.30
• 1% rule: 1.62%
• Cash to close: $72,800

Investor read

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $260k.
• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $572/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• It's been on market 22 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.8% local appreciation)).
• Location reads 71/100 on livability (#720 in PA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D-, commute F, employment F.
• Shenandoah Valley SD (town): math 20% / reading 38% proficiency, ranked #454 of 539 in PA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 63 active listings in the ZIP; 169 units permitted in Schuylkill County in 2024 (0 in 5+ unit buildings).
• Schuylkill County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 14y 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 $20k; list at $260k implies a 1233% gain — meaningful room to come down on a strong offer.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.