240 Oak Dr

Cashtown, PA 17353

$374,850F

3 bd · 2.5 ba · 1,132 sqft · Built 1993 · Other · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,425/mo
• Mortgage (P&I): −$1,966
• Tax + insurance: −$416
• HOA: −$13
• Vac / Maint / Mgmt: −$299
• Net cashflow: $-1,268/mo
• Annual: $-15,221/yr
• Cap rate: 2.23%
• Cash-on-cash: -14.50%
• DSCR: 0.35
• 1% rule: 0.38%
• Cash to close: $104,958

Investor read

• This is a 3-bed/2.5-bath other listed at $375k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (59.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (62.0% below list).
• It's been on market 47 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (62.0% below list) — sets the bar for 1% rule.
• In year one you build about $40k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#1,329 in PA) — a middle-class / working-renter tenant base. Strengths: crime A-, cost of living A-, housing B+; Watch: amenities F, commute F, health & safety F.
• Gettysburg Area SD (rural): math 46% / reading 60% proficiency, ranked #132 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gettysburg Area Hs (math 80% / reading 24%, grade C-, #112 of 437 statewide, top 26%, 1,024 students, 37% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 20 active listings in the ZIP; 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.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $35k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; list at $375k implies a 134% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 47 days. Have you received any prior offers? Is the seller open to a 62% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.