2110 SR 49 West

Ulysses, PA 16948

$130,000C

4 bd · 3.0 ba · 1,950 sqft · Built 1890 · Other · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,313/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $158/mo
• Annual: $1,895/yr
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• 1% rule: 1.01%
• Cash to close: $36,400

Investor read

• This is a 4-bed/3.0-bath other listed at $130k.
• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 55 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.3% local appreciation)).
• Location reads 57/100 on livability (#1,616 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, health & safety D, amenities F.
• Northern Potter SD (rural): math 29% / reading 45% proficiency, ranked #404 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Potter Childrens Sch (math 27% / reading 42%, grade F, #1,049 of 1,518 statewide, top 71%, 294 students, 59% FRL); Northern Potter Jshs (math 32% / reading 52%, grade F, #232 of 437 statewide, top 57%, 214 students, 52% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 24 units permitted in Potter County in 2024 (0 in 5+ unit buildings).
• Potter County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $130k implies a 117% gain — meaningful room to come down on a strong offer.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1890 — 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 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?
• 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.