324 Lake St

South Fork, PA 15956

$55,900A-

3 bd · 1.0 ba · 1,140 sqft · Built — · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,111/mo
• Mortgage (P&I): −$293
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $470/mo
• Annual: $5,637/yr
• Cap rate: 17.57%
• Cash-on-cash: 40.28%
• DSCR: 2.79
• 1% rule: 1.99%
• Cash to close: $15,652

Investor read

• This is a 3-bed/1.0-bath single-family listed at $56k.
• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• It's been on market 30 days — a 2% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($386 loan paydown + $691 appreciation (1.2% local appreciation)).
• Location reads 56/100 on livability (#1,644 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, amenities F, commute F.
• Forest Hills SD (rural): math 40% / reading 47% proficiency, ranked #293 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Hills El Sch (math 43% / reading 55%, grade D, #712 of 1,518 statewide, top 47%, 957 students, 43% FRL); Forest Hills Jshs (math 37% / reading 30%, grade F, #323 of 437 statewide, top 74%, 775 students, 30% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 8 active listings in the ZIP; 64 units permitted in Cambria County in 2024 (0 in 5+ unit buildings).
• Cambria County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $9k; list at $56k implies a 521% gain — meaningful room to come down on a strong offer.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.