541-543-545 Concord Ln

Columbia, PA 17512

$305,000C-

2 bd · 1.0 ba · 847 sqft · Built 1850 · MultiFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,540/mo
• Mortgage (P&I): −$1,599
• Tax + insurance: −$403
• HOA: −$0
• Vac / Maint / Mgmt: −$743
• Net cashflow: $794/mo
• Annual: $9,526/yr
• Cap rate: 9.42%
• Cash-on-cash: 11.15%
• DSCR: 1.50
• 1% rule: 1.16%
• Cash to close: $85,400

Investor read

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $305k.
• At list price, monthly cash flow is $794 ($10k/yr) — positive. Per door: $265/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $305k).
• It's been on market 99 days — a 9% lower offer ($278k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#538 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities D, schools D-.
• Columbia Borough SD (suburban): math 14% / reading 32% proficiency, ranked #482 of 539 in PA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.0%/yr); 126 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $44k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $305k implies a 455% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $85k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 4.0% in Columbia — 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.
• At $3,540/mo this rent would consume 64% of the median local household income ($67k/yr) (locally 647% 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 99 days. Have you received any prior offers? Is the seller open to a 9% 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?
• Built in 1850 — 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 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.