120 Locust St

Wrightsville, PA 17368

$138,000B+

3 bd · 2.0 ba · 1,992 sqft · Built 1900 · Townhouse · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,190/mo
• Mortgage (P&I): −$724
• Tax + insurance: −$443
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $563/mo
• Annual: $6,756/yr
• Cap rate: 11.19%
• Cash-on-cash: 17.49%
• DSCR: 1.78
• 1% rule: 1.59%
• Cash to close: $38,640

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $138k.
• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• It's been on market 37 days — a 3% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $954 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#562 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Eastern York SD (rural): math 40% / reading 64% proficiency, ranked #146 of 539 in PA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.4% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 2 sale attempts since 21y 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 $70k; list at $138k implies a 97% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.