222 Wheatfield Way Unit 70D

Tyler Run, PA 17403

$219,900C-

2 bd · 1.5 ba · 1,932 sqft · Built 1999 · Townhouse · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,138/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$366
• HOA: −$195
• Vac / Maint / Mgmt: −$449
• Net cashflow: $-25/mo
• Annual: $-304/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• 1% rule: 0.97%
• Cash to close: $61,572

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $220k. Condition is rated good.
• At list price, monthly cash flow is $-25 ($-304/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (2.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $214k (2.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#265 in PA, #2,331 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Dallastown Area SD (suburban): math 47% / reading 63% proficiency, ranked #102 of 539 in PA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dallastown Area Ms (math 30% / reading 55%, grade D-, #216 of 512 statewide, top 43%, 1,027 students, 34% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-12 pts) — the specific schools serving this property underperform the Dallastown Area SD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.4%/yr); 213 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 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.
• This rent runs 34% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.