550 Baltimore St

Penn, PA 17331

$164,000B

5 bd · 2.0 ba · 1,552 sqft · Built 1900 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,075/mo
• Mortgage (P&I): −$860
• Tax + insurance: −$372
• HOA: −$0
• Vac / Maint / Mgmt: −$436
• Net cashflow: $408/mo
• Annual: $4,893/yr
• Cap rate: 9.28%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• 1% rule: 1.27%
• Cash to close: $45,920

Investor read

• This is a 5-bed/2.0-bath single-family listed at $164k.
• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• It's been on market 46 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#1,637 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• South Western SD (suburban): math 37% / reading 56% proficiency, ranked #206 of 539 in PA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Emory H Markle Ms (math 27% / reading 53%, grade F, #257 of 512 statewide, top 52%, 1,028 students, 34% FRL); South Western Shs (math 83% / reading 75%, grade A-, #20 of 437 statewide, top 4%, 1,299 students, 31% FRL).
• Zoned-school proficiency averages 60% at this address vs 46% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the South Western SD average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.7%/yr); 386 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 5 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.