114 Cincinnati Rd

Hopewell, PA 16650

$134,900D

3 bd · 1.0 ba · 672 sqft · Built 1960 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $984/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$207
• Net cashflow: $-112/mo
• Annual: $-1,339/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• 1% rule: 0.73%
• Cash to close: $37,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (27.0% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $98k (27.0% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($933 loan paydown + $3k appreciation (2.0% local appreciation)).
• Location reads 57/100 on livability (#1,615 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D+, employment D, amenities F.
• Northern Bedford County SD (rural): math 37% / reading 67% proficiency, ranked #154 of 539 in PA (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northern Bedford Co El Sch (math 37% / reading 62%, grade D, #654 of 1,518 statewide, top 47%, 445 students, 50% FRL); Northern Bedford County Ms (math 22% / reading 72%, grade D+, #163 of 512 statewide, top 33%, 182 students, 45% FRL); Northern Bedford County Hs (math 95%, 249 students, 41% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 12 active listings in the ZIP; 54 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).
• Bedford County population projected at -25% 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.
• Current owner paid $45k; list at $135k implies a 200% gain — meaningful room to come down on a strong offer.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the 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?
• Built in 1960 — 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.