584 Aspers Bendersville Rd

Aspers, PA 17304

$149,900B+

3 bd · 1.5 ba · 1,392 sqft · Built 1800 · Other · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,154/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$404
• HOA: −$0
• Vac / Maint / Mgmt: −$452
• Net cashflow: $511/mo
• Annual: $6,134/yr
• Cap rate: 10.92%
• Cash-on-cash: 16.51%
• DSCR: 1.73
• 1% rule: 1.44%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.5-bath other listed at $150k.
• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 63 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#598 in PA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Upper Adams SD (rural): math 33% / reading 52% proficiency, ranked #298 of 539 in PA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Biglerville El Sch (math 47% / reading 57%, grade C-, #586 of 1,518 statewide, top 42%, 435 students, 51% FRL); Upper Adams Ms (math 17% / reading 48%, grade F, #355 of 512 statewide, top 70%, 271 students, 48% FRL); Biglerville Hs (math 62% / reading 24%, grade F, #215 of 437 statewide, top 50%, 529 students, 39% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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 $71k; list at $150k implies a 111% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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.