129 Cooper Ave

Johnstown, PA 15906

$24,000B

3 bd · 1.0 ba · 1,270 sqft · Built — · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $840/mo
• Mortgage (P&I): −$126
• Tax + insurance: −$500
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $37/mo
• Annual: $446/yr
• Cap rate: 31.17%
• Cash-on-cash: 88.85%
• DSCR: 4.95
• 1% rule: 3.50%
• Cash to close: $6,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $24k.
• At list price, monthly cash flow is $37 ($446/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($840 rent vs $24k).
• It's been on market 36 days — a 3% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $23k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#363 in PA, #3,168 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• Greater Johnstown SD (urban): math 9% / reading 25% proficiency, ranked #509 of 539 in PA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $460/mo.
• Market conditions: 47 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $18k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 31.2% vs local median 15.0% in Johnstown — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 D-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 F 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.