4701 Pennell Rd Unit A12

Village Green-Green Ridge, PA 19014

$154,000D

1 bd · 1.0 ba · 840 sqft · Built 1965 · Condo · Pending · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,524/mo
• Mortgage (P&I): −$808
• Tax + insurance: −$114
• HOA: −$380
• Vac / Maint / Mgmt: −$320
• Net cashflow: $-98/mo
• Annual: $-1,174/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• 1% rule: 0.99%
• Cash to close: $43,120

Investor read

• This is a 1-bed/1.0-bath condo listed at $154k.
• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (1.1% below list).
• It's been on market 113 days — a 9% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (11.2% 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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 25% of rent.
• Market conditions: 71 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• 2 sale attempts since 21y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $154k implies a 120% 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→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?
• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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?
• 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.
• 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?