205 N Water St · Masontown, PA 15461

$33,900

3 bd · 1.0 ba · 1,744 sqft · Other public records · 69 Days on market

Built 1912 0.27 ac lot $19/sqft · 72% below area ↓ 48% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.8/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large home with a garage apartment at the rear of the property. Home needs a lot of work. There is no central heating system in the main house. Given the condition and missing components, this would need to be a cash, renovation loan or hard money loan situation.

Key facts

• 0.27 acre lot
• Garage
• Built 1912

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $34k.

Deal economics

• At list price, monthly cash flow is $740 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $32k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#1,115 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Albert Gallatin Area SD (rural): math 26% / reading 46% proficiency, ranked #419 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 19 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $798 of equity ($234 loan paydown + $564 appreciation (1.7% local appreciation)).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,866 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 3.64% ✓
• Cap rate: 32.49%
• Cash-on-cash: 93.56%
• DSCR: 5.16
• GRM: 2.3

CMA / ARV

• ARV (median comp): $168,434
• List price: $33,900
• Delta: -79.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 97.0%
• Equity multiple: 6.15×
• Total profit: $48,898
• Equity at exit: $12,757

10-year hold

• IRR: 97.3%
• Equity multiple: 12.71×
• Total profit: $111,122
• Equity at exit: $17,909

Cash invested: $9,492 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 15461

• Home prices YoY: 0.8%
• Active inventory: 19
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$178
• Tax est. 1.5%: −$42 /mo · $508/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $740

Break-even live

Break-even rent $297

Max offer price $33,900

Occupancy floor 35%

Sensitivity live

Price	-10% $763	-5% $752	+0% $740	+5% $728	+10% $717
Rent	-10% $643	-5% $691	+0% $740	+5% $789	+10% $837
Rate	-1.0pp $757	-0.5pp $749	base $740	+0.5pp $731	+1.0pp $722

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,475
• Closing costs: $1,017
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $33,900 Active 69 DOM
2. 2026-06-19
   days on market $33,900 Active 67 DOM
3. 2026-06-18
   days on market $33,900 Active 66 DOM
4. 2026-06-17
   days on market $33,900 Active 65 DOM
5. 2026-06-16
   days on market $33,900 Active 64 DOM
6. 2026-06-15
   days on market $33,900 Active 63 DOM
7. 2026-06-14
   days on market $33,900 Active 61 DOM
8. 2026-06-13
   days on market $33,900 Active 60 DOM
9. 2026-06-10
   days on market $33,900 Active 58 DOM
10. 2026-06-09
    days on market $33,900 Active 57 DOM
11. 2026-06-09
    price $33,900 Active 56 DOM
12. 2026-06-08
    days on market $36,710 Active 56 DOM
13. 2026-06-07
    days on market $36,710 Active 55 DOM
14. 2026-06-02
    days on market $36,710 Active 50 DOM
15. 2026-06-01
    days on market $36,710 Active 49 DOM
16. 2026-05-31
    days on market $36,710 Active 48 DOM
17. 2026-05-30
    days on market $36,710 Active 47 DOM
18. 2026-05-06
    price $36,710 263-char remark

    Show marketing remark (263 chars)

    Large home with a garage apartment at the rear of the property. Home needs a lot of work. There is no central heating system in the main house. Given the condition and missing components, this would need to be a cash, renovation loan or hard money loan situation.

19. 2026-04-13
    listed $39,900 Active 263-char remark

    Show marketing remark (263 chars)

    Large home with a garage apartment at the rear of the property. Home needs a lot of work. There is no central heating system in the main house. Given the condition and missing components, this would need to be a cash, renovation loan or hard money loan situation.

20. 1999-02-22
    soldstatus $70,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,800
• − Mortgage interest: −$1,899
• − Property taxes: −$508
• − Insurance: −$170
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$986
• Taxable income: $8,869
• Est. tax owed @ 24.0%: −$2,128
• After-tax cash flow: $6,752/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Albert Gallatin Area SD
• NCES district ID: 4202100
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $36,456
• Composite: 29.8/100
• National rank: #6422
• State rank: #419 of 539 in PA

Livability — Masontown

• Score: 65/100
• State rank: #1115
• US rank: #12702

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment D- Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Masontown, PA
• Population (ZIP): 3,624

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 127,561 people
• By 2030: 123,206 · -3.4%
• By 2040: 113,232 · -11.2%
• By 2050: 103,468 · -18.9%
• By 2075: 83,185 · -34.8%
• By 2100: 62,384 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 11% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 9% Romanian 7% Slovak 5%
• Foreign-born: 1% · South Korea
• Languages at home: 98% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+37.9) · D 30.8% · R 68.7%
• 2008→2024 swing: -37.5pp toward R · 2008: -0.4pp · 2024: -37.9pp
• All cycles: 2024: R+37.9 2020: R+33.5 2016: R+31.0 2012: R+8.3 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.66%
• Current HPI: 207.2041
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

-47.6% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $36,710 West Penn MLS
• 2026-04-13 Listed $39,900 West Penn MLS
• 1999-02-22 Sold (Public Records) $70,000 Public Records

Property tax history

+3.6%/yr

Latest (2026): $2,005 · +0.0% YoY. Source: county tax records.