1285 Nursery Rd Unit CABIN 5

Milford, PA 18054

$110,000B

2 bd · 1.0 ba · 825 sqft · Built 1925 · SingleFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,991/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$108
• Vac / Maint / Mgmt: −$418
• Net cashflow: $705/mo
• Annual: $8,458/yr
• Cap rate: 13.98%
• Cash-on-cash: 27.46%
• DSCR: 2.22
• 1% rule: 1.81%
• Cash to close: $30,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k. Condition is rated fair.
• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 64 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($761 loan paydown + $6k appreciation (5.3% local appreciation)).
• Location reads 79/100 on livability (#255 in PA, #2,230 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, health & safety A+; Watch: cost of living D+, commute F.
• Quakertown Community SD (suburban): math 45% / reading 55% proficiency, ranked #154 of 539 in PA (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.0% vs local median 2.6% in Milford — 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 64 days. Have you received any prior offers? Is the seller open to a 6% 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?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Visible damage and potential leaks.
• Major: siding — Peeling and in need of repainting.
• Major: landscaping — Overgrown and requires trimming and maintenance.