503 High St

Dauphin, PA 17018

$140,000B-

3 bd · 1.0 ba · 1,684 sqft · Built 1850 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,597/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$244
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $284/mo
• Annual: $3,403/yr
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• 1% rule: 1.14%
• Cash to close: $39,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#940 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, health & safety F.
• Central Dauphin SD (suburban): math 30% / reading 52% proficiency, ranked #305 of 539 in PA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Middle Paxton El Sch (math 52% / reading 67%, grade B-, #377 of 1,518 statewide, top 28%, 263 students, 31% FRL); Central Dauphin Ms (math 27% / reading 66%, grade D+, #172 of 512 statewide, top 35%, 848 students, 33% FRL); Central Dauphin Shs (math 71% / reading 24%, grade D, #164 of 437 statewide, top 38%, 1,975 students, 33% FRL) — zoned schools at 32% FRL track the district average.
• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• 2 sale attempts since 7y 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 $113k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1850 — 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 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.
• 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.