452B Buttonwood Ln

Hallam, PA 17406

$155,000D-

2 bd · 1.5 ba · 1,008 sqft · Built 2002 · Condo · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,609/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$319
• HOA: −$220
• Vac / Maint / Mgmt: −$338
• Net cashflow: $-81/mo
• Annual: $-969/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• 1% rule: 1.04%
• Cash to close: $43,400

Investor read

• This is a 2-bed/1.5-bath condo listed at $155k.
• At list price, monthly cash flow is $-81 ($-969/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (9.2% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• It's been on market 18 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (9.2% 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 $5k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#519 in PA, #4,787 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Eastern York SD (rural): math 40% / reading 64% proficiency, ranked #146 of 539 in PA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kreutz Creek El Sch (math 42% / reading 57%, grade D, #654 of 1,518 statewide, top 47%, 360 students, 52% FRL); Eastern York Ms (math 30% / reading 70%, grade C, #129 of 512 statewide, top 26%, 517 students, 48% FRL); Eastern York Hs (math 77% / reading 24%, grade D+, #125 of 437 statewide, top 30%, 632 students, 46% FRL) — zoned schools average 49% FRL vs 32% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 176 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 9 sale attempts since 22y 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.
• 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

• 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?
• 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?
• 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?
• 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.
• 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.