211 N Furnace St

Birdsboro, PA 19508

$499,999C-

9 bd · 0.0 ba · — sqft · Built 1900 · MultiFamily · Active · 235 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,156/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$833
• HOA: −$0
• Vac / Maint / Mgmt: −$1,083
• Net cashflow: $618/mo
• Annual: $7,414/yr
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $140,000

Investor read

• This is a 3 × 3-bed/?-bath units multifamily listed at $500k.
• At list price, monthly cash flow is $618 ($7k/yr) — positive. Per door: $206/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• It's been on market 235 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#551 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.
• Daniel Boone Area SD (suburban): math 38% / reading 52% proficiency, ranked #217 of 539 in PA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Daniel Boone Area Intermediate Cntr (math 39% / reading 54%, grade D-, #793 of 1,518 statewide, top 52%, 627 students, 42% FRL); Daniel Boone Area Ms (math 26% / reading 51%, grade F, #275 of 512 statewide, top 55%, 946 students, 40% FRL); Daniel Boone Area Hs (math 67% / reading 75%, grade B+, #41 of 437 statewide, top 10%, 1,037 students, 35% FRL) — zoned schools average 39% FRL vs 18% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 84 active listings in the ZIP; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 12 sale attempts since 27y 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 $60k; list at $500k implies a 733% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.