56-3 Holly Dr #3 · Exeter, PA 19606

$172,000

2 bd · 2.0 ba · 1,161 sqft · Condo · 5 Days on market

Built 1986 Good condition $299/mo HOA · 17% 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).

• Cash flow +11.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 56-3 Holly Dr, a well-maintained first floor corner unit in the quiet and convenient Laurel Springs community! Located in Exeter Township near 422, PA Turnpike and Shopping Areas this clean and move in ready condo offers comfortable, low maintenance living and great value. Enjoy peace of mind with newer siding, roof, HVAC, and water heater; all replaced within the last few years. This spacious layout features an inviting living area, bright kitchen, and access to a private backyard and patio area, perfect for relaxing and entertaining. Main Bedroom has walk-in-closet and private bath. The HOA/condo fee ($299/month) covers the full exterior and lawn maintenance, snow removal, and

Key facts

• Private backyard
• Newer roof
• Patio area

Tags

• FIRST FLOOR CORNER UNIT
• PRIVATE BACKYARD
• PATIO AREA
• NEWER SIDING
• NEWER ROOF
• NEWER HVAC

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Monthly condo/coop fee: $132 (also listed HOA fee $175 monthly); HOA fee covers common area maintenance, lawn care, pool(s), recreation facility, snow removal, trash, and exterior building maintenance; Community amenities include basketball courts and a community center

Exterior

• Parking: Unassigned parking in a parking lot; 2 parking spaces in lot (total 2 garage/parking spaces listed)
• Utilities: Public water; Public sewer; Natural gas available (heating, cooling, hot water); Cable internet available; Phone service available
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry on level 1; Not in a federal flood zone
• Construction: Frame construction
• Exterior features: Street lights; Tennis courts; Community pool; Common grounds

Interior

• Kitchen: Galley kitchen layout
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: 90% efficient forced air heating (natural gas); Central air conditioning (natural gas)
• Interior features: Carpet flooring in some areas; Ceiling fans; Galley-style kitchen; Walk-in closet(s); Master bathroom; Window treatments
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $172k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-59 ($-703/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (4.9% below list).
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $164k (4.9% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 4.2% in Exeter — 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 76/100 on livability (#392 in PA, #3,546 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F.
• Exeter Township SD (suburban): math 41% / reading 60% proficiency, ranked #141 of 539 in PA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lorane El Sch (math 32% / reading 62%, grade D-, #737 of 1,518 statewide, top 52%, 451 students, 36% FRL); Reiffton Sch (math 37% / reading 66%, grade C, #109 of 512 statewide, top 22%, 612 students, 39% FRL); Exeter Twp Shs (math 74% / reading 24%, grade D, #149 of 437 statewide, top 34%, 1,286 students, 30% FRL).
• Market conditions: 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,525 (4.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-31,390
• Equity at exit: $25,646

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-31,280
• Equity at exit: $14,871

Cash invested: $48,160 (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 19606

• Active inventory: 166
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,809 medium
• Mortgage (P&I): −$902
• Tax est. 1.5%: −$215 /mo · $2,580/yr
• Insurance: −$72
• HOA: −$299
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-59

Break-even live

Break-even rent $1,883

Max offer price $163,525

Occupancy floor 98%

Sensitivity live

Price	-10% $60	-5% $1	+0% $-59	+5% $-118	+10% $-177
Rent	-10% $-201	-5% $-130	+0% $-59	+5% $13	+10% $84
Rate	-1.0pp $28	-0.5pp $-15	base $-59	+0.5pp $-103	+1.0pp $-148

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 Orchard View Rd Reading, PA	1.0–2.0	1.0–2.0	1187	$2,410	$2.03	4d	7	0.44mi

HOA detail condo

• Monthly dues: $299 · $3,588/yr
• Likely covers: watersnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-21
   statusdays on market $172,000 Pending 5 DOM
2. 2026-06-18
   days on market $172,000 Active 4 DOM
3. 2026-06-17
   days on market $172,000 Active 3 DOM
4. 2026-06-16
   days on market $172,000 Active 2 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   listed $172,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,708
• − Mortgage interest: −$9,635
• − Property taxes: −$2,580
• − Insurance: −$860
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − HOA: −$3,588
• − Depreciation: −$5,004
• Taxable loss: −$3,432
• Est. tax savings @ 24.0%: +$824
• After-tax cash flow: $121/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained first floor corner unit in Laurel Springs offers comfortable, low-maintenance living with new siding, roof, HVAC, and water heater. The kitchen and bathroom could benefit from updates to increase its resale value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated design

Value-add opportunities

• Resale update kitchen cabinets — modernizing the kitchen
• Resale update bathroom fixtures — modernizing the bathroom
• Both paint interior walls — enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale update kitchen cabinets — modernizing the kitchen ↑
• Resale update bathroom fixtures — modernizing the bathroom ↑
• Both paint interior walls — enhances curb appeal and interior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Exeter Township SD
• NCES district ID: 4209480
• Math proficiency: 41% ▼ -8.00%
• Reading proficiency: 60% ▼ -11.00%
• Median HH income: $71,744
• Composite: 45.21/100
• National rank: #2669
• State rank: #141 of 539 in PA

Livability — Exeter

• Score: 76/100
• State rank: #392
• US rank: #3546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berks County · 195,629 people
• Metro: Reading, PA
• Population (ZIP): 35,853
• Household income: $85,557
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 619.0

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 3%
• Common ancestry: Romanian 7% Polish 2% Iranian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.56%
• Current HPI: 283.6138
• Rent YoY: —
• Metro: Reading, PA
• 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

1 event — show timeline

• 2026-06-14 Listed $172,000 BRIGHT MLS