280 Bridgewater Rd Unit C-11

Brookhaven, PA 19015

$159,900D

2 bd · 1.5 ba · 924 sqft · Built 1972 · Condo · Coming Soon · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,713/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$119
• HOA: −$450
• Vac / Maint / Mgmt: −$360
• Net cashflow: $-54/mo
• Annual: $-651/yr
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• 1% rule: 1.07%
• Cash to close: $44,772

Investor read

• This is a 2-bed/1.5-bath condo listed at $160k.
• At list price, monthly cash flow is $-54 ($-651/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (6.0% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $150k (6.0% below list) — sets the bar for cash-flow.
• 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 76/100 on livability (#409 in PA, #3,712 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, housing A+, cost of living A; Watch: commute F.
• Penn-Delco SD (suburban): math 37% / reading 59% proficiency, ranked #174 of 539 in PA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 26% of rent.
• Market conditions: 71 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• 3 sale attempts since 28y ago; this cycle's ask is 106% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $76k; list at $160k implies a 110% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.2% in Brookhaven — 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

• 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?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.