345 Top St

Georges, PA 15478

$35,000B+

2 bd · 1.0 ba · 1,014 sqft · Built 1900 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $961/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$59
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $516/mo
• Annual: $6,191/yr
• Cap rate: 23.98%
• Cash-on-cash: 63.18%
• DSCR: 3.81
• 1% rule: 2.74%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $35k).
• It's been on market 44 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (4.6% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Albert Gallatin North Ms (math 19% / reading 43%, grade F, #374 of 512 statewide, top 73%, 385 students, 100% FRL); Albert Gallatin Area Shs (math 48% / reading 50%, grade D, #151 of 437 statewide, top 35%, 964 students, 76% FRL) — zoned schools average 88% FRL vs 56% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts 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 $25k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• 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.