84 Conewago Park Dr

Reading, PA 17316

$104,500B-

2 bd · 1.0 ba · 1,262 sqft · Built 1974 · Other · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,438/mo
• Mortgage (P&I): −$548
• Tax + insurance: −$400
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $188/mo
• Annual: $2,258/yr
• Cap rate: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• 1% rule: 1.38%
• Cash to close: $29,260

Investor read

• This is a 2-bed/1.0-bath other listed at $104k.
• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• It's been on market 87 days — a 6% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (6.0% below list) — sets the bar for market timing.
• In year one you build about $824 of equity ($722 loan paydown + $102 appreciation (0.1% local appreciation)).
• Location reads 82/100 on livability (#132 in PA, #1,058 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D-, employment F.
• Bermudian Springs SD (rural): math 36% / reading 55% proficiency, ranked #238 of 539 in PA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.3% of price; flood insurance adds $66/mo.
• Market conditions: 54 active listings in the ZIP; 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.