178 Elephant Rd Unit B11 · Dublin, PA 18917

$225,000

2 bd · 1.0 ba · 970 sqft · Townhouse public records · 47 Days on market

Built 1985 $232/sqft · 7% below area Est $242k · 7% under $220/mo HOA · 11% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +10.7/15.0
• Cash flow +10.3/30.0
• Schools +4.7/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to growing Dublin, PA! This well-maintained two-bedroom condo offers convenient, low-maintenance living in a highly accessible location. Just a short walk to Dublin Station and nearby shops, restaurants, a brewery, and more, you’ll enjoy everything this charming area has to offer. Located in Building B at the heart of the desirable Countryside Condo community, this home provides easy access to Doylestown, Perkasie, Quakertown, and surrounding areas—perfect for commuters or anyone who enjoys exploring Bucks County. Unit B11 features updated luxury vinyl plank flooring and a modernized kitchen complete with stainless steel appliances and recessed lighting. The home is equipped with individually controlled electric baseboard heating and built-in wall A/C units for year-round comfort. Residents can enjoy a shared green space ideal for relaxing, playing, or outdoor activities, as well as a nearby park featuring tennis courts and expanded play areas. While the unit does not include in-unit laundry, a convenient laundry facility is located just steps away within Building B. The condo includes one assigned parking space along with ample visitor parking.

Key facts

• Accessible location
• Modernized kitchen
• Recessed lighting

Tags

• ACCESSIBLE LOCATION
• MODERNIZED KITCHEN
• STAINLESS STEEL APPLIANCES
• RECESSED LIGHTING
• BUILT IN WALL A C UNITS
• NEARBY PARK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $-125 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (12.0% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.3% in Dublin — 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.

Location & tenants

• Location reads 64/100 on livability (#1,201 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-, housing A-; Watch: schools F, amenities F, commute F.
• Pennridge SD (suburban): math 45% / reading 61% proficiency, ranked #112 of 539 in PA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 32y 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 $132k; list at $225k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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.

Recommended offer $197,892 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.37%
• DSCR: 0.89
• GRM: 9.5

CMA / ARV

• ARV (median comp): $242,388
• List price: $225,000
• Delta: -7.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
178-C28 Elephant Rd	0.02mi	2/1.0	970 (0%)	0mo	$216,000	$223	99
178 Elephant Rd Unit B23	0.00mi	2/1.0	970 (0%)	2mo	$240,000	$247	99
178 Elephant Rd Unit C26	0.00mi	2/1.0	970 (0%)	4mo	$220,000	$227	96
178 Elephant Rd Unit A6	0.06mi	2/1.0	970 (0%)	5mo	$214,000	$221	93
178 Elephant Rd Unit B16	0.02mi	2/1.0	970 (0%)	8mo	$220,000	$227	93
178 Elephant Rd Unit B21	0.00mi	2/1.0	970 (0%)	11mo	$235,000	$242	91
178 Elephant Rd Unit C29	0.02mi	2/1.0	970 (0%)	21mo	$215,000	$222	82
238 Allem Ln	0.13mi	2/1.0	1,063 (+10%)	6mo	$265,000	$249	73
242 Allem Ln	0.13mi	2/1.0	924 (-5%)	18mo	$260,000	$281	71
120 Allem Ln	0.23mi	2/1.0	1,100 (+13%)	9mo	$250,000	$227	59
232 Allem Ln #232	0.16mi	2/1.0	1,063 (+10%)	22mo	$285,000	$268	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-44,284
• Equity at exit: $33,548

10-year hold

• IRR: -13.1%
• Equity multiple: 0.23×
• Total profit: $-48,327
• Equity at exit: $19,454

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18917

• Home prices YoY: -23.8%
• Active inventory: 11
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$194 /mo · $2,331/yr
• Insurance: −$94
• HOA: −$220
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-125

Break-even live

Break-even rent $2,137

Max offer price $202,989

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
178 Elephant Rd Dublin, PA	2.0	1.0	970	$1,900	$1.96	5d	1	0.02mi
172 Elephant Rd Unit 2 Dublin, PA	2.0	1.0	1023	$1,875	$1.83	4d	1	0.06mi
125 Allem Ln Perkasie, PA	2.0	1.0	1100	$2,000	$1.82	2d	1	0.22mi
301 Station Dr Dublin, PA	1.0–2.0	1.0–2.0	897	$2,400	$2.67	1d	6	0.32mi
160 Middle Rd Dublin, PA	1.0–2.0	1.0–2.0	897	$2,409	$2.69	1d	12	0.83mi

HOA detail

• Monthly dues: $220 · $2,640/yr
• Likely covers: electricparking

Listing history 19 events

1. 2026-06-03
   statusdays on market $225,000 Pending 47 DOM
2. 2026-06-02
   days on market $225,000 Active 46 DOM
3. 2026-06-01
   days on market $225,000 Active 45 DOM
4. 2026-05-31
   days on market $225,000 Active 44 DOM
5. 2026-05-14
   price $225,000 1183-char remark

   Show marketing remark (1183 chars)

   Welcome to growing Dublin, PA! This well-maintained two-bedroom condo offers convenient, low-maintenance living in a highly accessible location. Just a short walk to Dublin Station and nearby shops, restaurants, a brewery, and more, you’ll enjoy everything this charming area has to offer. Located in Building B at the heart of the desirable Countryside Condo community, this home provides easy access to Doylestown, Perkasie, Quakertown, and surrounding areas—perfect for commuters or anyone who enjoys exploring Bucks County. Unit B11 features updated luxury vinyl plank flooring and a modernized kitchen complete with stainless steel appliances and recessed lighting. The home is equipped with individually controlled electric baseboard heating and built-in wall A/C units for year-round comfort. Residents can enjoy a shared green space ideal for relaxing, playing, or outdoor activities, as well as a nearby park featuring tennis courts and expanded play areas. While the unit does not include in-unit laundry, a convenient laundry facility is located just steps away within Building B. The condo includes one assigned parking space along with ample visitor parking.

6. 2026-04-17
   listed $230,000 Active 1183-char remark

   Show marketing remark (1183 chars)

   Welcome to growing Dublin, PA! This well-maintained two-bedroom condo offers convenient, low-maintenance living in a highly accessible location. Just a short walk to Dublin Station and nearby shops, restaurants, a brewery, and more, you’ll enjoy everything this charming area has to offer. Located in Building B at the heart of the desirable Countryside Condo community, this home provides easy access to Doylestown, Perkasie, Quakertown, and surrounding areas—perfect for commuters or anyone who enjoys exploring Bucks County. Unit B11 features updated luxury vinyl plank flooring and a modernized kitchen complete with stainless steel appliances and recessed lighting. The home is equipped with individually controlled electric baseboard heating and built-in wall A/C units for year-round comfort. Residents can enjoy a shared green space ideal for relaxing, playing, or outdoor activities, as well as a nearby park featuring tennis courts and expanded play areas. While the unit does not include in-unit laundry, a convenient laundry facility is located just steps away within Building B. The condo includes one assigned parking space along with ample visitor parking.

7. 2020-09-15
   soldstatus $132,000
8. 2020-07-28
   soldstatus $132,000 Closed 859-char remark

   Show marketing remark (859 chars)

   Why settle for a dated condo with smelly carpets, an old kitchen and 20 year old appliances when you can have this beautifully remodeled Countryside Condo. 1st Floor unit with assigned parking. Newly updated kitchen with brand new stainless steel appliances including Glass Top Oven, Built-in Microwave, Dishwasher and high-end LED Refrigerator. Extra large Living Room with new maintenance free, waterproof flooring. Spacious Dining Room with ceiling fan and new flooring. Master bedroom with generous closet and brand new wall to wall carpeting. Newly updated bathroom with custom tile, upgraded lighting and plumbing fixtures and Euro vanity. Two storage closets in foyer and Linen closet in hall. Walls, ceilings, trim and doors all freshly painted. Convenient to major shopping and employment centers. Close to major commuter routes and Lake Nockamixon.

9. 2020-05-31
   status Pending 859-char remark

   Show marketing remark (859 chars)

   Why settle for a dated condo with smelly carpets, an old kitchen and 20 year old appliances when you can have this beautifully remodeled Countryside Condo. 1st Floor unit with assigned parking. Newly updated kitchen with brand new stainless steel appliances including Glass Top Oven, Built-in Microwave, Dishwasher and high-end LED Refrigerator. Extra large Living Room with new maintenance free, waterproof flooring. Spacious Dining Room with ceiling fan and new flooring. Master bedroom with generous closet and brand new wall to wall carpeting. Newly updated bathroom with custom tile, upgraded lighting and plumbing fixtures and Euro vanity. Two storage closets in foyer and Linen closet in hall. Walls, ceilings, trim and doors all freshly painted. Convenient to major shopping and employment centers. Close to major commuter routes and Lake Nockamixon.

10. 2020-05-27
    listed $131,500 Active 859-char remark

    Show marketing remark (859 chars)

    Why settle for a dated condo with smelly carpets, an old kitchen and 20 year old appliances when you can have this beautifully remodeled Countryside Condo. 1st Floor unit with assigned parking. Newly updated kitchen with brand new stainless steel appliances including Glass Top Oven, Built-in Microwave, Dishwasher and high-end LED Refrigerator. Extra large Living Room with new maintenance free, waterproof flooring. Spacious Dining Room with ceiling fan and new flooring. Master bedroom with generous closet and brand new wall to wall carpeting. Newly updated bathroom with custom tile, upgraded lighting and plumbing fixtures and Euro vanity. Two storage closets in foyer and Linen closet in hall. Walls, ceilings, trim and doors all freshly painted. Convenient to major shopping and employment centers. Close to major commuter routes and Lake Nockamixon.

11. 2008-06-16
    soldstatus $131,000
12. 2008-06-09
    soldstatus $131,000
13. 2008-04-25
    historical
14. 2008-01-12
    historical
15. 2008-01-09
    listed $130,000
16. 2007-04-30
    listed $130,000
17. 1994-12-14
    historical
18. 1994-12-14
    listed $48,000
19. 1985-03-07
    soldstatus $42,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $2,331 · $194/mo
• Projected year-2 tax: $2,943 · $245/mo
• Expected delta: +$612/yr (+$51/mo · 26.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,747
• − Mortgage interest: −$12,603
• − Property taxes: −$2,331
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − HOA: −$2,640
• − Depreciation: −$6,545
• Taxable loss: −$5,298
• Est. tax savings @ 24.0%: +$1,271
• After-tax cash flow: $-224/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pennridge SD
• NCES district ID: 4218750
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 61% ▼ -14.00%
• Median HH income: $73,770
• Composite: 47.48/100
• National rank: #2277
• State rank: #112 of 539 in PA

Livability — Dublin

• Score: 64/100
• State rank: #1201
• US rank: #14126

Category grades

Amenities F Commute F Cost of living B Crime A+ Employment A- Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dublin, PA
• City population: 2,176
• Population (ZIP): 2,176

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Iranian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 2%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.66%
• Current HPI: 296.6992
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+424.5% since first listed

15 events — show timeline

• 2026-05-14 Price Changed $225,000 BRIGHT MLS
• 2026-04-17 Listed $230,000 BRIGHT MLS
• 2020-09-15 Sold (Public Records) $132,000 Public Records
• 2020-07-28 Sold (MLS) $132,000 BRIGHT MLS
• 2020-05-31 Pending — BRIGHT MLS
• 2020-05-27 Listed $131,500 BRIGHT MLS
• 2008-06-16 Sold (Public Records) $131,000 Public Records
• 2008-06-09 Sold (MLS) $131,000 BRIGHT MLS
• 2008-04-25 Listing Removed — BRIGHT MLS
• 2008-01-12 Listing Removed — BRIGHT MLS
• 2008-01-09 Listed $130,000 BRIGHT MLS
• 2007-04-30 Listed $130,000 BRIGHT MLS
• 1994-12-14 Listed $48,000 BRIGHT MLS
• 1994-12-14 Listing Removed — BRIGHT MLS
• 1985-03-07 Sold (Public Records) $42,900 Public Records

Property tax history

+1.3%/yr

Latest (2026): $2,331 · +3.9% YoY. Source: county tax records.