15491 Eve Dr

Pymatuning North, PA 16424

$215,000D

3 bd · 2.0 ba · 1,800 sqft · Built 1969 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,533/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$316
• HOA: −$0
• Vac / Maint / Mgmt: −$322
• Net cashflow: $-232/mo
• Annual: $-2,790/yr
• Cap rate: 5.00%
• Cash-on-cash: -4.63%
• DSCR: 0.79
• 1% rule: 0.71%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (19.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (28.7% below list).
• It's been on market 16 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (28.7% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (8.5% local appreciation)).
• Location reads 58/100 on livability (#1,568 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Conneaut SD (rural): math 38% / reading 57% proficiency, ranked #241 of 539 in PA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Conneaut Valley El Sch (math 57% / reading 62%, grade B-, #377 of 1,518 statewide, top 28%, 316 students, 100% FRL); Conneaut Valley Ms (math 29% / reading 58%, grade D, #208 of 512 statewide, top 41%, 259 students, 100% FRL); Conneaut Area Senior High (math 95% / reading 24%, grade C+, #79 of 437 statewide, top 18%, 579 students, 80% FRL) — zoned schools average 93% FRL vs 44% district-wide (50 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP; 83 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1969 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.