623 Arlington St

Tamaqua, PA 18252

$170,000C+

2 bd · 2.0 ba · 1,920 sqft · Built 1914 · MultiFamily · Active · 97 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,501/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$234
• HOA: −$0
• Vac / Maint / Mgmt: −$525
• Net cashflow: $851/mo
• Annual: $10,208/yr
• Cap rate: 12.30%
• Cash-on-cash: 21.45%
• DSCR: 1.95
• 1% rule: 1.47%
• Cash to close: $47,600

Investor read

• This is a 1×1bd/1ba + 1×3bd/1ba units multifamily listed at $170k.
• At list price, monthly cash flow is $851 ($10k/yr) — positive. Per door: $425/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• It's been on market 97 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• 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.
• Location reads 80/100 on livability (#209 in PA, #1,844 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute D+, employment F.
• Tamaqua Area SD (rural): math 31% / reading 53% proficiency, ranked #331 of 539 in PA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 75 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 169 units permitted in Schuylkill County in 2024 (0 in 5+ unit buildings).
• Schuylkill County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $170k implies a 79% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.3% vs local median 6.8% in Tamaqua — 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.

Questions for listing agent

• It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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 1914 — 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.
• 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.