400 Glendale Rd Unit G-45

Broomall, PA 19083

$175,000C-

2 bd · 2.0 ba · 1,104 sqft · Built 1967 · Condo · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,205/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$484
• HOA: −$352
• Vac / Maint / Mgmt: −$463
• Net cashflow: $-12/mo
• Annual: $-143/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• 1% rule: 1.26%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.0-bath condo listed at $175k.
• At list price, monthly cash flow is $-12 ($-143/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (1.2% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $173k (1.2% 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 82/100 on livability (#146 in PA, #1,181 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F, cost of living D-.
• Haverford Township SD (suburban): math 58% / reading 78% proficiency, ranked #20 of 539 in PA (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 2.8% of price.
• Market conditions: 108 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• Current owner paid $62k; list at $175k implies a 182% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 1.9% in Broomall — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 1967 — 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?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.