114 Church Rd · Frazer, PA 19355

$365,000

3 bd · 2.5 ba · 1,260 sqft · Townhouse public records · 1 Days on market

Built 1981 4,539 sqft lot Est $365k · at est.

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Rent growth +3.2/5.0
• DSCR +3.1/10.0
• 1% rule +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Biggest floorplan in the neighborhood and an End Unit with side yard! This home is in need of TLC but has the potential. 1st floor has living room, kitchen and den with doors leading out back. 2nd floor has master bedroom with master bathroom, 2 more nice sized bedrooms that are served by a hall bathroom. The basement is unfinished and offers laundry and tons of storage. No association fees, low taxes and stable rents throughout the community make this a great home as an investment or your first purchase if you are looking to add a little sweat equity. Home to be sold in As Is condition and Buyer responsible for Twp Use & Occupancy. This should be included in the Agreement of Sale.

Key facts

• Built 1981

Property features AI

Finance

• HOA & community: Ground rent paid annually

Exterior

• Parking: Alley access; Driveway parking; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Fee simple ownership; Year built (assessor source)
• Construction: Brick exterior; Permanent foundation
• Exterior features: End of row townhouse; Brick construction; Above-grade and below-grade other structures

Interior

• Bedrooms: 3 bedrooms on main level
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump(s); Electric heating fuel; Natural gas available for cooling fuel; Hot water supplied by natural gas and electric
• Interior features: Level entry to main level; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $365k.

Deal economics

• At list price, monthly cash flow is $-171 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (25.1% below list).
• Recommended offer: $273k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.2% in Frazer — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Great Valley SD (suburban): math 56% / reading 71% proficiency, ranked #33 of 539 in PA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.8%/yr); 168 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,513 units permitted in Chester County in 2024 (354 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Chester County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 32y 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 $238k; list at $365k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $273,442 (25.1% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $365,400
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Church Rd	0.00mi	3/2.5	1,260 (0%)	0mo	$360,000	$286	100
10 Rickmar Ln	0.08mi	3/2.5	1,300 (+3%)	1mo	$430,000	$331	90
55 Rickmar Ln	0.09mi	3/2.0	1,300 (+3%)	1mo	$377,000	$290	88
63 Kelmar Ave	0.14mi	3/3.0	1,260 (0%)	7mo	$390,000	$310	85
6 Markel Rd	0.06mi	3/2.5	1,300 (+3%)	19mo	$330,000	$254	76
82 Kelmar Ave	0.18mi	3/2.0	1,300 (+3%)	24mo	$365,000	$281	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-70,738
• Equity at exit: $54,423

10-year hold

• IRR: -13.3%
• Equity multiple: 0.23×
• Total profit: $-78,502
• Equity at exit: $31,559

Cash invested: $102,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 19355

• Rents YoY: 2.8%
• Active inventory: 168
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,734 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$265 /mo · $3,179/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-171

Break-even live

Break-even rent $2,951

Max offer price $334,810

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 Rickmar Ln Malvern, PA	3.0	2.0	1300	$2,449	$1.88	1d	1	0.11mi
34 Kelmar Ave Malvern, PA	3.0	2.0	1300	$2,600	$2.00	43d	1	0.15mi
333 Lancaster Ave Malvern, PA	1.0–3.0	1.0–2.5	1175	$3,055	$2.60	1d	8	1.04mi
132 Mulberry Dr Malvern, PA	3.0	2.5	1630	$3,100	$1.90	24d	1	1.07mi
554 Lancaster Ave Malvern, PA	2.0	1.0–2.0	941	$4,979	$5.29	1d	1	1.09mi
406 Hartnup St Malvern, PA	3.0	2.5	1827	$4,200	$2.30	43d	1	1.23mi
410 Hartnup ST Malvern, PA	3.0	2.5	1827	$3,700	$2.03	43d	1	1.38mi

Listing history 15 events

1. 2026-05-03
   historical Active Under Contract
2. 2026-05-03
   listed $365,000 Active
3. 2026-05-02
   historical $365,000
4. 2021-05-21
   soldstatus $237,500 Closed 696-char remark

   Show marketing remark (696 chars)

   Biggest floorplan in the neighborhood and an End Unit with side yard! This home is in need of TLC but has the potential. 1st floor has living room, kitchen and den with doors leading out back. 2nd floor has master bedroom with master bathroom, 2 more nice sized bedrooms that are served by a hall bathroom. The basement is unfinished and offers laundry and tons of storage. No association fees, low taxes and stable rents throughout the community make this a great home as an investment or your first purchase if you are looking to add a little sweat equity. Home to be sold in As Is condition and Buyer responsible for Twp Use & Occupancy. This should be included in the Agreement of Sale.

5. 2021-03-31
   status Pending 696-char remark

   Show marketing remark (696 chars)

   Biggest floorplan in the neighborhood and an End Unit with side yard! This home is in need of TLC but has the potential. 1st floor has living room, kitchen and den with doors leading out back. 2nd floor has master bedroom with master bathroom, 2 more nice sized bedrooms that are served by a hall bathroom. The basement is unfinished and offers laundry and tons of storage. No association fees, low taxes and stable rents throughout the community make this a great home as an investment or your first purchase if you are looking to add a little sweat equity. Home to be sold in As Is condition and Buyer responsible for Twp Use & Occupancy. This should be included in the Agreement of Sale.

6. 2021-03-30
   historical 696-char remark

   Show marketing remark (696 chars)

   Biggest floorplan in the neighborhood and an End Unit with side yard! This home is in need of TLC but has the potential. 1st floor has living room, kitchen and den with doors leading out back. 2nd floor has master bedroom with master bathroom, 2 more nice sized bedrooms that are served by a hall bathroom. The basement is unfinished and offers laundry and tons of storage. No association fees, low taxes and stable rents throughout the community make this a great home as an investment or your first purchase if you are looking to add a little sweat equity. Home to be sold in As Is condition and Buyer responsible for Twp Use & Occupancy. This should be included in the Agreement of Sale.

7. 2021-03-26
   listed $230,000 Active 696-char remark

   Show marketing remark (696 chars)

   Biggest floorplan in the neighborhood and an End Unit with side yard! This home is in need of TLC but has the potential. 1st floor has living room, kitchen and den with doors leading out back. 2nd floor has master bedroom with master bathroom, 2 more nice sized bedrooms that are served by a hall bathroom. The basement is unfinished and offers laundry and tons of storage. No association fees, low taxes and stable rents throughout the community make this a great home as an investment or your first purchase if you are looking to add a little sweat equity. Home to be sold in As Is condition and Buyer responsible for Twp Use & Occupancy. This should be included in the Agreement of Sale.

8. 1995-03-15
   soldstatus $400,000 217-char remark

   Show marketing remark (217 chars)

   1St:Ch, Den/Fp, Lr/Fp, Dr, Pr, Updated Kit. 2Nd: Dress Rm, Hallba, Br/Fp, Br. 3Rd:Wlkup Attic. Bsmt:Full, Fin, Lndry, Heatrm. Charming Picker- Ing Hunt Hunting Box, Chester Co Day Winner Pool, Stable. Add'l Land Avail

9. 1995-01-20
   historical 217-char remark

   Show marketing remark (217 chars)

   1St:Ch, Den/Fp, Lr/Fp, Dr, Pr, Updated Kit. 2Nd: Dress Rm, Hallba, Br/Fp, Br. 3Rd:Wlkup Attic. Bsmt:Full, Fin, Lndry, Heatrm. Charming Picker- Ing Hunt Hunting Box, Chester Co Day Winner Pool, Stable. Add'l Land Avail

10. 1995-01-06
    soldstatus $190,000
11. 1994-12-20
    historical
12. 1994-11-22
    listed $400,000 217-char remark

    Show marketing remark (217 chars)

    1St:Ch, Den/Fp, Lr/Fp, Dr, Pr, Updated Kit. 2Nd: Dress Rm, Hallba, Br/Fp, Br. 3Rd:Wlkup Attic. Bsmt:Full, Fin, Lndry, Heatrm. Charming Picker- Ing Hunt Hunting Box, Chester Co Day Winner Pool, Stable. Add'l Land Avail

13. 1994-11-22
    listed $190,000

    Show marketing remark (217 chars)

    1St:Ch, Den/Fp, Lr/Fp, Dr, Pr, Updated Kit. 2Nd: Dress Rm, Hallba, Br/Fp, Br. 3Rd:Wlkup Attic. Bsmt:Full, Fin, Lndry, Heatrm. Charming Picker- Ing Hunt Hunting Box, Chester Co Day Winner Pool, Stable. Add'l Land Avail

14. 1987-07-01
    soldstatus $88,000
15. 1981-04-01
    soldstatus $67,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $3,179 · $265/mo
• Projected year-2 tax: $4,473 · $373/mo
• Expected delta: +$1,294/yr (+$108/mo · 40.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,813
• − Mortgage interest: −$20,446
• − Property taxes: −$3,179
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − Depreciation: −$10,618
• Taxable loss: −$8,505
• Est. tax savings @ 24.0%: +$2,041
• After-tax cash flow: $-10/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Great Valley SD
• NCES district ID: 4210870
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 71% ▼ -14.00%
• Median HH income: $100,392
• Composite: 58.74/100
• National rank: #977
• State rank: #33 of 539 in PA

Livability — Frazer

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Chester County · 432,350 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 29,425
• Household income: $169,417
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 510.0

Population outlook (Chester County) Hauer SSP2

• Today (2025): 546,756 people
• By 2030: 559,441 · +2.3%
• By 2040: 576,377 · +5.4%
• By 2050: 580,602 · +6.2%
• By 2075: 581,575 · +6.4%
• By 2100: 540,922 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 19% Hispanic / Latino 6% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Slovak 2% Scotch-Irish 1%
• Foreign-born: 22% · China, Canada, South Korea
• Languages at home: 76% English-only · Other Indo-European 7% Other Asian/Pacific 6% Chinese 4%

Political lean MEDSL · Chester

• 2024 margin: D (+14.5) · D 56.7% · R 42.2% · Other 1.0%
• 2008→2024 swing: +5.2pp toward D · 2008: 9.2pp · 2024: 14.5pp
• All cycles: 2024: D+14.5 2020: D+17.0 2016: D+9.2 2012: R+0.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -297.64%
• Current HPI: 280.8023
• Rent YoY: ▲ 2.77%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+440.7% since first listed

15 events — show timeline

• 2026-05-03 Contingent — BRIGHT MLS
• 2026-05-03 Listed $365,000 BRIGHT MLS
• 2026-05-02 Coming Soon $365,000 BRIGHT MLS
• 2021-05-21 Sold (MLS) $237,500 BRIGHT MLS
• 2021-03-31 Pending — BRIGHT MLS
• 2021-03-30 Listing Removed — BRIGHT MLS
• 2021-03-26 Listed $230,000 BRIGHT MLS
• 1995-03-15 Sold (MLS) $400,000 BRIGHT MLS
• 1995-01-20 Listing Removed — BRIGHT MLS
• 1995-01-06 Sold (MLS) $190,000 BRIGHT MLS
• 1994-12-20 Listing Removed — BRIGHT MLS
• 1994-11-22 Listed $190,000 BRIGHT MLS
• 1994-11-22 Listed $400,000 BRIGHT MLS
• 1987-07-01 Sold (Public Records) $88,000 Public Records
• 1981-04-01 Sold (Public Records) $67,500 Public Records

Property tax history

+2.0%/yr

Latest (2026): $3,179 · +2.8% YoY. Source: county tax records.