922 Carbon Ave

Central City, PA 15926

$19,900C-

3 bd · 1.0 ba · 736 sqft · Built 1920 · SingleFamily · Pending · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,065/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $674/mo
• Annual: $8,093/yr
• Cap rate: 46.96%
• Cash-on-cash: 145.24%
• DSCR: 7.46
• 1% rule: 5.35%
• Cash to close: $5,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 61 days — a 6% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (6.0% below list) — sets the bar for market timing.
• In year one you build about $911 of equity ($138 loan paydown + $773 appreciation (3.9% local appreciation)).
• Location reads 62/100 on livability (#1,333 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Shade-Central City SD (rural): math 45% / reading 55% proficiency, ranked #411 of 658 in PA (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.3% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 78 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).
• Somerset County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $11k; list at $20k implies a 81% gain — meaningful room to come down on a strong offer.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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.