3421 Laurel Pt

The Hideout, PA 18436

$229,000C+

5 bd · 2.0 ba · 1,862 sqft · Built 1987 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,395/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$382
• HOA: −$194
• Vac / Maint / Mgmt: −$503
• Net cashflow: $115/mo
• Annual: $1,382/yr
• Cap rate: 6.90%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• 1% rule: 1.05%
• Cash to close: $64,120

Investor read

• This is a 5-bed/2.0-bath single-family listed at $229k. Condition is rated poor.
• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $229k).
• It's been on market 49 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.
• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#668 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D, amenities F, commute F.
• Western Wayne SD (rural): math 39% / reading 63% proficiency, ranked #165 of 539 in PA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 340 active listings in the ZIP; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y 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 $110k; list at $229k implies a 108% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.9% vs local median 5.0% in The Hideout — 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.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• Schools are D-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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Clutter removal — The property is heavily cluttered, which affects its appearance and value.
• Major: Deck repair — The deck is cluttered with debris and items, indicating neglect and potential structural issues.
• Major: Exterior cleaning — The exterior is cluttered and unkempt, which affects its curb appeal and value.
• Major: Interior cleaning — The interior is cluttered with boxes and miscellaneous items, which affects its appearance and value.
• Major: Painting — The walls are cluttered with boxes and miscellaneous items, which affects its appearance and value.
• Minor: HVAC cleaning — No visible signs of major issues, but cleaning may be needed for optimal performance.