192 S Richhill St

Waynesburg, PA 15370

$114,900B+

4 bd · 4.0 ba · — sqft · Built 1900 · MultiFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,099/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $864/mo
• Annual: $10,370/yr
• Cap rate: 15.32%
• Cash-on-cash: 32.23%
• DSCR: 2.43
• 1% rule: 1.83%
• Cash to close: $32,172

Investor read

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $115k. Condition is rated average.
• At list price, monthly cash flow is $864 ($10k/yr) — positive. Per door: $432/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($794 loan paydown + $3k appreciation (2.2% local appreciation)).
• Location reads 68/100 on livability (#885 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Central Greene SD (town): math 24% / reading 40% proficiency, ranked #434 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets are dated and may need updating to appeal to modern buyers.
• Minor: Kitchen floor — The patterned floor in the kitchen may need to be replaced or updated.
• Major: Water heater — The water heater is old and may need to be replaced to ensure the home's systems are up to date.