151 Park St

Bendersville, PA 17306

$169,900A-

3 bd · 2.0 ba · 1,632 sqft · Built 1890 · Other · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,325/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$315
• HOA: −$0
• Vac / Maint / Mgmt: −$488
• Net cashflow: $631/mo
• Annual: $7,569/yr
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• 1% rule: 1.37%
• Cash to close: $47,572

Investor read

• This is a 3-bed/2.0-bath other listed at $170k.
• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• It's been on market 35 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($1k loan paydown + $-147 appreciation (-0.1% local appreciation)).
• Location reads 71/100 on livability (#687 in PA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Upper Adams SD (rural): math 33% / reading 52% proficiency, ranked #298 of 539 in PA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Biglerville El Sch (math 47% / reading 57%, grade C-, #586 of 1,518 statewide, top 42%, 435 students, 51% FRL); Upper Adams Ms (math 17% / reading 48%, grade F, #355 of 512 statewide, top 70%, 271 students, 48% FRL); Biglerville Hs (math 62% / reading 24%, grade F, #215 of 437 statewide, top 50%, 529 students, 39% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 2 sale attempts since 26y 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.
• Current owner paid $75k; list at $170k implies a 127% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/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 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1890 — 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.
• 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?
• 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.