361-367 Link Rd

Chest Springs, PA 15940

$389,000C

None bd · 16.0 ba · 3,312 sqft · Built 1979 · MultiFamily · Active · 280 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,612/mo
• Mortgage (P&I): −$2,040
• Tax + insurance: −$506
• HOA: −$0
• Vac / Maint / Mgmt: −$759
• Net cashflow: $307/mo
• Annual: $3,684/yr
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• 1% rule: 0.93%
• Cash to close: $108,920

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $389k.
• At list price, monthly cash flow is $307 ($4k/yr) — positive. Per door: $77/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $361k (7.1% below list).
• It's been on market 280 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.
• In year one you build about $42k of equity ($3k loan paydown + $39k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#1,226 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D-, amenities F, commute F.
• Penn Cambria SD (town): math 29% / reading 57% proficiency, ranked #304 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 64 units permitted in Cambria County in 2024 (0 in 5+ unit buildings).
• Cambria County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $223k; list at $389k implies a 74% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 280 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.