118 Summit House #118 · Cheyney University, PA 19382

$300,000

4 bd · 1.5 ba · 2,832 sqft · Townhouse · 125 Days on market

Built 1974 Fair condition $106/sqft · 29% below area Est $425k · 29% under $477/mo HOA · 15% of rent ↓ 3% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• Schools +5.9/10.0
• 1% rule +5.4/10.0
• Rent growth +3.7/5.0
• DSCR +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous Townhouse in Summit House Community – East Goshen Township, Chester County, PA This charming townhouse, located within the desirable Summit House Community, was originally constructed in 1974 and offers approximately 2,832 square feet of interior living space. The home features a spacious living room, dining area, and kitchen, along with four bedrooms and one-and-a-half bathrooms. Additional highlights include a lower basement level, an attic area providing extra storage, and a private patio—perfect for relaxing after a long day. As part of a planned residential development, the property is governed by a homeowner's association, ensuring well-maintained surroundings and community amenities.

Key facts

• Private patio
• Attic area
• Lower basement level

Tags

• PRIVATE PATIO
• LOWER BASEMENT LEVEL
• ATTIC AREA

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $300k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (4.7% below list).
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 1.8% in Cheyney University — 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.

Location & tenants

• Location reads 49/100 on livability (#1,706 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• West Chester Area SD (suburban): math 56% / reading 74% proficiency, ranked #34 of 539 in PA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.8%/yr); 217 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,513 units permitted in Chester County in 2024 (354 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Chester County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $264,000 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• GRM: 8.0

CMA / ARV

• ARV (median comp): $424,558
• List price: $300,000
• Delta: -29.34%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 Summit House #134	0.14mi	4/2.5	2,832 (0%)	11mo	$300,000	$106	81
142 Summit House	0.11mi	4/2.5	2,832 (0%)	15mo	$300,000	$106	78
705 Westtown Cir #705	0.56mi	3/3.5 (-1)	2,439 (-14%)	11mo	$455,000	$187	29
1324 W West Chester Pike #306	0.63mi	3/3.0 (-1)	2,586 (-9%)	21mo	$433,000	$167	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.42×
• Total profit: $-48,720
• Equity at exit: $44,731

10-year hold

• IRR: -4.0%
• Equity multiple: 0.71×
• Total profit: $-24,715
• Equity at exit: $25,939

Cash invested: $84,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 19382

• Rents YoY: 4.8%
• Active inventory: 217
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,106 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$477
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $-96

Break-even live

Break-even rent $3,228

Max offer price $286,049

Occupancy floor 98%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1255 Eagle Rd West Chester, PA	4.0	2.5	2306	$3,750	$1.63	18d	1	1.03mi

HOA detail

• Monthly dues: $477 · $5,724/yr

Listing history 15 events

1. 2026-06-18
   days on market $300,000 Active 125 DOM
2. 2026-06-17
   days on market $300,000 Active 124 DOM
3. 2026-06-16
   days on market $300,000 Active 123 DOM
4. 2026-06-15
   days on market $300,000 Active 122 DOM
5. 2026-06-13
   days on market $300,000 Active 120 DOM
6. 2026-06-09
   days on market $300,000 Active 116 DOM
7. 2026-06-08
   days on market $300,000 Active 115 DOM
8. 2026-06-07
   days on market $300,000 Active 114 DOM
9. 2026-06-04
   days on market $300,000 Active 111 DOM
10. 2026-06-03
    days on market $300,000 Active 110 DOM
11. 2026-06-02
    days on market $300,000 Active 109 DOM
12. 2026-06-01
    days on market $300,000 Active 108 DOM
13. 2026-05-31
    days on market $300,000 Active 107 DOM
14. 2026-05-20
    price $300,000 721-char remark

    Show marketing remark (721 chars)

    Fabulous Townhouse in Summit House Community – East Goshen Township, Chester County, PA This charming townhouse, located within the desirable Summit House Community, was originally constructed in 1974 and offers approximately 2,832 square feet of interior living space. The home features a spacious living room, dining area, and kitchen, along with four bedrooms and one-and-a-half bathrooms. Additional highlights include a lower basement level, an attic area providing extra storage, and a private patio—perfect for relaxing after a long day. As part of a planned residential development, the property is governed by a homeowner's association, ensuring well-maintained surroundings and community amenities.

15. 2026-02-14
    listed $310,000 Active 721-char remark

    Show marketing remark (721 chars)

    Fabulous Townhouse in Summit House Community – East Goshen Township, Chester County, PA This charming townhouse, located within the desirable Summit House Community, was originally constructed in 1974 and offers approximately 2,832 square feet of interior living space. The home features a spacious living room, dining area, and kitchen, along with four bedrooms and one-and-a-half bathrooms. Additional highlights include a lower basement level, an attic area providing extra storage, and a private patio—perfect for relaxing after a long day. As part of a planned residential development, the property is governed by a homeowner's association, ensuring well-maintained surroundings and community amenities.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,273
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,982
• − Management: −$2,982
• − HOA: −$5,724
• − Depreciation: −$8,727
• Taxable loss: −$5,946
• Est. tax savings @ 24.0%: +$1,427
• After-tax cash flow: $270/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 7 photos

Fair 45/100 Moderate rehab

This townhouse requires moderate repairs to its exterior siding and landscaping, but has good interior systems and potential for value increase with fresh paint and trimmed bushes.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor landscaping — Overgrown bushes need trimming

Value-add opportunities

• Resale paint exterior — Fresh paint enhances curb appeal
• Rental trim bushes — Maintained landscaping attracts tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown bushes need trimming	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Resale paint exterior — Fresh paint enhances curb appeal ↑
• Rental trim bushes — Maintained landscaping attracts tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Chester Area SD
• NCES district ID: 4225290
• Math proficiency: 56% ▼ -8.00%
• Reading proficiency: 74% ▼ -6.00%
• Median HH income: $87,125
• Composite: 58.7/100
• National rank: #980
• State rank: #34 of 539 in PA

Livability — Cheyney University

• Score: 49/100
• State rank: #1706
• US rank: #25761

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing F Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Chester County · 432,350 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 54,127
• Household income: $132,091
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 1770.0

Population outlook (Chester County) Hauer SSP2

• Today (2025): 546,756 people
• By 2030: 559,441 · +2.3%
• By 2040: 576,377 · +5.4%
• By 2050: 580,602 · +6.2%
• By 2075: 581,575 · +6.4%
• By 2100: 540,922 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 6% Asian 5% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Chester

• 2024 margin: D (+14.5) · D 56.7% · R 42.2% · Other 1.0%
• 2008→2024 swing: +5.2pp toward D · 2008: 9.2pp · 2024: 14.5pp
• All cycles: 2024: D+14.5 2020: D+17.0 2016: D+9.2 2012: R+0.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.24%
• Current HPI: 294.9284
• Rent YoY: ▲ 4.79%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

-3.2% since first listed

2 events — show timeline

• 2026-05-20 Price Changed $300,000 BRIGHT MLS
• 2026-02-14 Listed $310,000 BRIGHT MLS