302 W Abbott St

Lansford, PA 18232

$375,000C+

28 bd · 16.0 ba · 3,529 sqft · Built 1904 · MultiFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,509/mo
• Mortgage (P&I): −$1,967
• Tax + insurance: −$625
• HOA: −$0
• Vac / Maint / Mgmt: −$947
• Net cashflow: $971/mo
• Annual: $11,647/yr
• Cap rate: 9.40%
• Cash-on-cash: 11.09%
• DSCR: 1.49
• 1% rule: 1.20%
• Cash to close: $105,000

Investor read

• This is a 1×1bd/1.0ba + 3×2bd/1.0ba units multifamily listed at $375k. Condition is rated fair.
• At list price, monthly cash flow is $971 ($12k/yr) — positive. Per door: $243/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $375k).
• It's been on market 73 days — a 6% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $352k (6.0% below list) — sets the bar for market timing.
• In year one you build about $37k of equity ($3k loan paydown + $34k appreciation (9.1% local appreciation)).
• Location reads 72/100 on livability (#605 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities D, commute F, employment F.
• Panther Valley SD (rural): math 14% / reading 35% proficiency, ranked #477 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Panther Valley El Sch (math 27% / reading 42%, grade F, #1,049 of 1,518 statewide, top 71%, 622 students, 100% FRL); Panther Valley Intermediate Sch (math 11% / reading 31%, grade F, #432 of 512 statewide, top 85%, 417 students, 100% FRL); Panther Valley Jshs (math 13% / reading 36%, grade F, #376 of 437 statewide, top 86%, 771 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 active listings in the ZIP; lower-income renter base — watch delinquency; 180 units permitted in Carbon County in 2024 (10 in 5+ unit buildings).
• Carbon County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $285k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $105k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• At $4,509/mo this rent would consume 121% of the median local household income ($45k/yr) (locally 123% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Paint — Some wear and tear visible on interior walls and exterior siding.
• Minor: Flooring — Some wear and tear visible in common areas.
• Minor: Windows — Some wear and tear visible on windows, but no immediate safety concerns.