100 E Glenolden Ave Unit R-10

Glenolden, PA 19036

$94,900D

1 bd · 1.0 ba · 635 sqft · Built 1964 · Condo · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$195
• HOA: −$414
• Vac / Maint / Mgmt: −$267
• Net cashflow: $-102/mo
• Annual: $-1,227/yr
• Cap rate: 5.00%
• Cash-on-cash: -4.62%
• DSCR: 0.79
• 1% rule: 1.34%
• Cash to close: $26,572

Investor read

• This is a 1-bed/1.0-bath condo listed at $95k.
• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $77k (19.0% below list).
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 54 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (19.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#69 in PA, #481 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D.
• Interboro SD (suburban): math 25% / reading 50% proficiency, ranked #369 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glenolden Sch (math 17% / reading 51%, grade F, #1,076 of 1,518 statewide, top 71%, 611 students, 66% FRL); Interboro Shs (math 82% / reading 24%, grade C-, #104 of 437 statewide, top 24%, 1,028 students, 55% FRL) — zoned schools average 60% FRL vs 38% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 33% of rent.
• Market conditions: 46 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• 2 sale attempts since 30y 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.
• Climate carrying-cost: 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 5.0% vs local median 3.8% in Glenolden — 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.

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 54 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?