422-424 W Taylor St

Taylor, PA 18517

$259,000C+

4 bd · 2.0 ba · 2,296 sqft · Built 1930 · MultiFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,593/mo
• Mortgage (P&I): −$1,358
• Tax + insurance: −$432
• HOA: −$0
• Vac / Maint / Mgmt: −$755
• Net cashflow: $1,049/mo
• Annual: $12,583/yr
• Cap rate: 11.15%
• Cash-on-cash: 17.35%
• DSCR: 1.77
• 1% rule: 1.39%
• Cash to close: $72,520

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $259k. Condition is rated average.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $524/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $259k).
• It's been on market 16 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $255k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#503 in PA, #4,605 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Riverside SD (suburban): math 30% / reading 53% proficiency, ranked #340 of 539 in PA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 251 units permitted in Lackawanna County in 2024 (0 in 5+ unit buildings).
• Lackawanna County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 19y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1930 — 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Paint appears faded in some areas.
• Minor: Siding — Siding appears weathered, paint chipping.
• Minor: Kitchen cabinets — Cabinets appear dated, countertops need cleaning.
• Minor: Bathroom fixtures — No visible damage, but fixtures may need updating.
• Minor: HVAC/mechanicals — No visible damage, but inspection recommended.