198 Pine St

Millersburg, PA 17061

$94,900A-

3 bd · 1.0 ba · 1,632 sqft · Built 1918 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,625/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$317
• HOA: −$0
• Vac / Maint / Mgmt: −$341
• Net cashflow: $469/mo
• Annual: $5,634/yr
• Cap rate: 12.23%
• Cash-on-cash: 21.20%
• DSCR: 1.94
• 1% rule: 1.71%
• Cash to close: $26,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• It's been on market 36 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($656 loan paydown + $1k appreciation (1.2% local appreciation)).
• Location reads 74/100 on livability (#480 in PA, #4,444 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Millersburg Area SD (town): math 36% / reading 51% proficiency, ranked #288 of 539 in PA (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lenkerville El Sch (math 52% / reading 57%, grade C, #504 of 1,518 statewide, top 37%, 313 students, 49% FRL); Millersburg Area Ms (math 17% / reading 47%, grade F, #362 of 512 statewide, top 71%, 157 students, 39% FRL); Millersburg Area Shs (math 64%, 229 students, 42% FRL).
• Watch-outs: property tax is 3.5% of price; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• 3 sale attempts since 16y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $95k implies a 84% gain — meaningful room to come down on a strong offer.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.