1213 Cherrington Dr

Susquehanna, PA 17110

$125,000D-

1 bd · 1.0 ba · 806 sqft · Built 1998 · Condo · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,333/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$271
• HOA: −$199
• Vac / Maint / Mgmt: −$280
• Net cashflow: $-73/mo
• Annual: $-870/yr
• Cap rate: 5.60%
• Cash-on-cash: -2.49%
• DSCR: 0.89
• 1% rule: 1.07%
• Cash to close: $35,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $125k.
• At list price, monthly cash flow is $-73 ($-870/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (10.2% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $112k (10.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Susquehanna Township SD (suburban): math 17% / reading 39% proficiency, ranked #444 of 539 in PA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Thomas W Holtzman Jr El Sch (math 22% / reading 45%, grade F, #1,081 of 1,518 statewide, top 71%, 820 students, 67% FRL); Susquehanna Twp Ms (math 7% / reading 34%, grade F, #435 of 512 statewide, top 85%, 723 students, 63% FRL); Susquehanna Twp Hs (math 37% / reading 10%, grade F, #379 of 437 statewide, top 87%, 743 students, 55% FRL) — zoned schools average 62% FRL vs 35% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 174 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• Current owner paid $74k; list at $125k implies a 70% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.