265 Two Churches Rd

Latimore, PA 17316

$139,000D+

1 bd · 1.0 ba · 2,980 sqft · Built 1871 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,208/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$232
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-7/mo
• Annual: $-80/yr
• Cap rate: 6.24%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $38,920

Investor read

• This is a 1-bed/1.0-bath single-family listed at $139k. Condition is rated good.
• At list price, monthly cash flow is $-7 ($-80/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (13.1% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $121k (13.1% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($961 loan paydown + $136 appreciation (0.1% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bermudian Springs SD (rural): math 36% / reading 55% proficiency, ranked #238 of 539 in PA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bermudian Springs El Sch (math 36% / reading 50%, grade F, #873 of 1,518 statewide, top 58%, 612 students, 42% FRL); Bermudian Springs Ms (math 24% / reading 49%, grade F, #307 of 512 statewide, top 61%, 548 students, 38% FRL); Bermudian Springs Hs (math 77% / reading 98%, grade A, #6 of 437 statewide, top 1%, 591 students, 29% FRL).
• Watch-outs: built in 1871 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 54 active listings in the ZIP; 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -10% 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?
• Built in 1871 — 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.
• 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.
• 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.