272 E Lincoln

Waynesburg, PA 15370

$52,900B

4 bd · 2.0 ba · — sqft · Built 1901 · MultiFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,999/mo
• Mortgage (P&I): −$277
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $1,214/mo
• Annual: $14,564/yr
• Cap rate: 33.82%
• Cash-on-cash: 98.32%
• DSCR: 5.37
• 1% rule: 3.78%
• Cash to close: $14,812

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $53k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $607/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $53k).
• It's been on market 41 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($366 loan paydown + $1k appreciation (2.2% local appreciation)).
• Location reads 68/100 on livability (#885 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Central Greene SD (town): math 24% / reading 40% proficiency, ranked #434 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waynesburg Central El School (math 21% / reading 43%, grade F, #1,094 of 1,518 statewide, top 73%, 765 students, 1% FRL); Miller Ms (math 14% / reading 37%, grade F, #414 of 512 statewide, top 81%, 229 students, 2% FRL); Waynesburg Central Hs (math 52% / reading 24%, grade F, #281 of 437 statewide, top 65%, 500 students, 1% FRL) — zoned schools average 1% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $4k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $53k implies a 89% gain — meaningful room to come down on a strong offer.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.