1800 W Wiconisco St

Reinerton, PA 17980

$248,000C+

5 bd · 2.0 ba · 2,232 sqft · Built 1900 · MultiFamily · Pending · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,602/mo
• Mortgage (P&I): −$1,301
• Tax + insurance: −$387
• HOA: −$0
• Vac / Maint / Mgmt: −$756
• Net cashflow: $1,158/mo
• Annual: $13,897/yr
• Cap rate: 11.90%
• Cash-on-cash: 20.01%
• DSCR: 1.89
• 1% rule: 1.45%
• Cash to close: $69,440

Investor read

• This is a 5-bed/2.0-bath multifamily listed at $248k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $248k).
• It's been on market 23 days — a 2% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#1,014 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Williams Valley SD (rural): math 16% / reading 44% proficiency, ranked #442 of 539 in PA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Williams Valley El Sch (math 17% / reading 45%, grade F, #1,116 of 1,518 statewide, top 74%, 521 students, 100% FRL); Williams Valley Jshs (math 17% / reading 42%, grade F, #349 of 437 statewide, top 81%, 440 students, 98% FRL) — zoned schools average 99% FRL vs 40% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 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.
• Current owner paid $22k; list at $248k implies a 1027% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.