65 Ardmore Ave

Lansdowne, PA 19050

$162,100C

4 bd · 1.0 ba · 1,536 sqft · Built 1926 · SingleFamily · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,072/mo
• Mortgage (P&I): −$850
• Tax + insurance: −$792
• HOA: −$0
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-5/mo
• Annual: $-61/yr
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 1.28%
• Cash to close: $45,388

Investor read

• This is a 4-bed/1.0-bath single-family listed at $162k.
• At list price, monthly cash flow is $-5 ($-61/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (0.6% below list).
• Meets the 1% rule at list price ($2k rent vs $162k).
• It's been on market 80 days — a 6% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (6.0% below list) — sets the bar for market timing.
• 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 83/100 on livability (#128 in PA, #1,005 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• William Penn SD (suburban): math 11% / reading 28% proficiency, ranked #491 of 539 in PA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 5.0% of price; flood insurance adds $56/mo; built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.9%/yr); 96 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• 5 sale attempts since 27y ago; this cycle's ask has dropped $84k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $162k implies a 82% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; 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 6.7% vs local median 4.2% in Lansdowne — 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.
• This rent runs 41% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1926 — 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.