3 Alta Vita Dr #608

Hempfield, PA 15601

$200,000D-

3 bd · 2.0 ba · 1,980 sqft · Built 1982 · Condo · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,375/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$333
• HOA: −$368
• Vac / Maint / Mgmt: −$289
• Net cashflow: $-664/mo
• Annual: $-7,970/yr
• Cap rate: 2.31%
• Cash-on-cash: -14.23%
• DSCR: 0.37
• 1% rule: 0.69%
• Cash to close: $56,000

Investor read

• This is a 3-bed/2.0-bath condo listed at $200k. Condition is rated good.
• At list price, monthly cash flow is $-664 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (48.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (31.3% below list).
• It's been on market 115 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (48.1% below list) — sets the bar for cash-flow.
• 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.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hempfield Area SD (suburban): math 50% / reading 64% proficiency, ranked #90 of 539 in PA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hempfield Area Shs (math 73% / reading 24%, grade D, #151 of 437 statewide, top 35%, 1,661 students, 24% FRL) — zoned schools at 24% FRL track the district average.
• Watch-outs: HOA is 27% of rent.
• Market conditions: Rents rising fast (+8.0%/yr); 393 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• 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?
• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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.