800-802 Vickroy Ave

Ferndale, PA 15905

$109,900B-

6 bd · 3.0 ba · 2,256 sqft · Built — · MultiFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,024/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$425
• Net cashflow: $781/mo
• Annual: $9,368/yr
• Cap rate: 14.82%
• Cash-on-cash: 30.44%
• DSCR: 2.35
• 1% rule: 1.84%
• Cash to close: $30,772

Investor read

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $110k.
• At list price, monthly cash flow is $781 ($9k/yr) — positive. Per door: $390/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#649 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Ferndale Area SD (suburban): math 31% / reading 56% proficiency, ranked #316 of 539 in PA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ferndale El Sch (math 27% / reading 52%, grade F, #947 of 1,518 statewide, top 65%, 306 students, 99% FRL); Ferndale Area Jshs (math 37% / reading 62%, grade D, #138 of 437 statewide, top 34%, 283 students, 57% FRL) — zoned schools average 78% FRL vs 55% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 93 active listings in the ZIP; 64 units permitted in Cambria County in 2024 (0 in 5+ unit buildings).
• Cambria County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• This rent runs 35% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.