102 Armerford Rd

Armagh, PA 15929

$54,500A-

4 bd · 1.5 ba · 1,404 sqft · Built 1910 · SingleFamily · Pending · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,301/mo
• Mortgage (P&I): −$286
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $652/mo
• Annual: $7,818/yr
• Cap rate: 20.64%
• Cash-on-cash: 51.24%
• DSCR: 3.28
• 1% rule: 2.39%
• Cash to close: $15,260

Investor read

• This is a 4-bed/1.5-bath single-family listed at $54k. Condition is rated fair.
• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• It's been on market 76 days — a 6% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($377 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#1,422 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime C-, amenities F, commute F.
• United SD (rural): math 40% / reading 59% proficiency, ranked #197 of 539 in PA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: United El Sch (math 39% / reading 62%, grade D+, #641 of 1,518 statewide, top 42%, 463 students, 54% FRL); United Jshs (math 42% / reading 57%, grade D, #138 of 437 statewide, top 34%, 418 students, 34% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 44 units permitted in Indiana County in 2024 (0 in 5+ unit buildings).
• Indiana County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — No visible roof in satellite image.
• Major: siding — Siding appears weathered and some areas missing.
• Major: flooring — Hardwood flooring appears unfinished and uneven.
• Major: interior walls/paint — Painted walls show signs of wear and incomplete work.
• Major: bathroom — Exposed plumbing and unfinished appearance.
• Major: landscaping — Sparse and unkempt landscaping.