3-bed apartment to rent in Carlisle — $1K | Dwelfy

Deals · 601 N Pitt St, Carlisle, PA 17013

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Pays from day one — check the rent yourself

Rented normally, you'd make about $847 a month, and it holds up.

The rent is our own estimate — worth checking against two or three real local lettings. One month without a tenant wipes out about a month of that profit, so keep a buffer for gaps.

601 N Pitt St, Carlisle, PA 17013 · 925 sqft · $1/sqft

3 BED APARTMENTListed 87d ago

$1,225

List price

Monthly profit

+$847/mo

Cash needed

$346

+ refurb costs

Return after costs

940.5%

Cash return

2939.4%

Weak

We could not confirm the local rent, so check it before you offer — the 1212.73% return before costs on price rests on it.

Why it works

Monthly profit +$847/mo from completion — the no.1 reason to invest
This is the money left after the mortgage, the running costs and tax — not the rent.It assumes the rent we modelled and the empty weeks we assumed. Change either and it moves. Try your own numbers →
Stress Rent-covers-mortgage check PASS at 6.5% rate stress — lender-friendly
Lenders test the rent against a stressed rate, not the one you are quoted. This clears it.The cover level is each lender’s own policy, not law — treat it as the shape of the test. See the lender's view →

Why to be cautious

No rent comparables — estimate is a rule-of-thumb fallback, not market data. Verify the rent locally before offering.

Research, not financial advice · how we decide →

Ready to move on this deal?

Generates an offer pack with your numbers & sources — take it to the agent.

Listing seen …

What if…

Standard rental on an Assured Shorthold Tenancy. Single household, market rent, paid monthly direct to landlord (or via agent).

You keep$847/mo

Cash in$1,081

Lender550%

Where the rent goes$1,190/mo in

The mortgage 0%Running costs 31%You keep 68%

What you put in$1,081 up front

Deposit 7%Purchase tax 1%Doing it up 18%Fees 74%

Offer

Deposit

Mortgage rate

Standard rental

Rent

Empty weeks a year

Doing it up

Estimated, not surveyed — nobody has been inside.

More assumptions9

Mortgage term

Stress rate

Solicitor + survey

Lender fees

Letting agent

Insurance

Maintenance

Service charge

Ground rent

Where these figures came from15

Offer the asking price$1,225Asking price from listing

Deposit a typical assumption25%Standard 75% LTV for rental

Mortgage rate a typical assumption7.00%5-year fixed (market average) — 7.00% (as of 2026-05).

Rent worked out from local rents$1,238/moEstimated rent from few comparables — verify.

Empty weeks a year a typical assumption2 wksTypical voids for rental

Doing it up a general default, not this property$735Capped at 60% of $1,225 asking ($735). Raw model: $46,715–$87,855. Verify with a surveyor before offering.

Mortgage term a general default, not this property30 yrs

Stress rate a typical assumption8.00%Fed base + 2pp stress (8.0%)

Solicitor + survey a typical figure, not a quote$2,000Leasehold flat — $1,500 legal + $500 survey

Lender fees a typical figure, not a quote$1,0182% product fee on $918.75 loan + $1,000 booking fee

Letting agent a typical assumption10%Typical rental agency rate

Insurance a typical figure, not a quote$20/moTypical building+landlord cover for sub-$200K

Maintenance a typical figure, not a quote$67/moSemi/flat: $67/mo proxy

Service charge a typical figure, not a quote$150/moLeasehold fallback: $1,800/yr proxy — confirm with managing agent

Ground rent a typical figure, not a quote$25/moLeasehold fallback: $300/yr proxy — confirm in lease

These are this page's own derivation notes, unedited. A figure marked a typical figure, not a quote is our model of a cost for a property of this kind in this area — not a price anybody has given you, and the first thing worth replacing with a real one.

Notes

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List price$1,225