512 Hiland Ave

Oil City, PA 16301

$63,900A-

2 bd · 1.0 ba · 831 sqft · Built 1900 · SingleFamily · Active · 215 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $936/mo
• Mortgage (P&I): −$335
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $303/mo
• Annual: $3,635/yr
• Cap rate: 11.98%
• Cash-on-cash: 20.32%
• DSCR: 1.90
• 1% rule: 1.46%
• Cash to close: $17,892

Investor read

• This is a 2-bed/1.0-bath single-family listed at $64k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $64k).
• It's been on market 215 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($442 loan paydown + $1k appreciation (2.2% local appreciation)).
• Location reads 71/100 on livability (#704 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Oil City Area SD (town): math 20% / reading 46% proficiency, ranked #436 of 539 in PA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Seventh Street Sch (math 27% / reading 52%, grade F, #947 of 1,518 statewide, top 65%, 156 students, 100% FRL); Oil City Area Ms (math 11% / reading 46%, grade F, #395 of 512 statewide, top 78%, 582 students, 100% FRL); Oil City Shs (math 47% / reading 24%, grade F, #305 of 437 statewide, top 70%, 603 students, 74% FRL) — zoned schools average 92% FRL vs 52% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 12.0% vs local median 9.5% in Oil City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• 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.