242 Wiley Mill Rd

Fawn Grove, PA 17352

$149,900C

3 bd · 1.0 ba · 1,128 sqft · Built 1900 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,468/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$213
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $161/mo
• Annual: $1,928/yr
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• 1% rule: 0.98%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (2.1% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $147k (2.1% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $755 appreciation (0.5% local appreciation)).
• Location reads 66/100 on livability (#1,081 in PA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B+; Watch: employment D, amenities F, commute F.
• South Eastern SD (rural): math 41% / reading 60% proficiency, ranked #147 of 539 in PA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Eastern Ms (math 24% / reading 57%, grade F, #248 of 512 statewide, top 50%, 407 students, 31% FRL); Kennard-Dale Hs (math 72%, 713 students, 31% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $23k; list at $150k implies a 552% gain — meaningful room to come down on a strong offer.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.
• 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

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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 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.