328 330 Main Unit L 110

Vandling, PA 18421

$169,900B

15 bd · 9.0 ba · 3,168 sqft · Built 1930 · MultiFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,489/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$943
• Net cashflow: $2,372/mo
• Annual: $28,466/yr
• Cap rate: 23.05%
• Cash-on-cash: 59.84%
• DSCR: 3.66
• 1% rule: 2.64%
• Cash to close: $47,572

Investor read

• This is a 1×1bd/1ba + 2×5bd/1.5ba units multifamily listed at $170k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $791/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $170k).
• It's been on market 39 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#1,039 in PA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Forest City Regional SD (suburban): math 34% / reading 51% proficiency, ranked #308 of 539 in PA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 53 active listings in the ZIP; 251 units permitted in Lackawanna County in 2024 (0 in 5+ unit buildings).
• Lackawanna County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1930 — 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 F-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.

Repairs flagged (vision-AI assessment)

• Major: Exposed brick walls in kitchen and bath — Structural damage and safety hazard.
• Major: Missing cabinetry in kitchen and bath — Functionality and aesthetics are compromised.
• Major: Worn-out carpet in living areas — Safety hazard and poor aesthetics.
• Major: Missing flooring in some rooms — Safety hazard and poor aesthetics.
• Major: Peeling paint and exposed brick in multiple areas — Safety hazard and poor aesthetics.