670 Park St

California, PA 15419

$175,000B

None bd · None ba · 1,780 sqft · Built 1967 · MultiFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$302
• HOA: −$0
• Vac / Maint / Mgmt: −$945
• Net cashflow: $2,336/mo
• Annual: $28,026/yr
• Cap rate: 22.31%
• Cash-on-cash: 57.20%
• DSCR: 3.54
• 1% rule: 2.57%
• Cash to close: $49,000

Investor read

• This is a 6 × 1-bed/1-bath units multifamily listed at $175k.
• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $389/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• It's been on market 58 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• In year one you build about $236 of equity ($1k loan paydown + $-974 appreciation (-0.6% local appreciation)).
• Location reads 56/100 on livability (#1,648 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, amenities F, commute F.
• California Area SD (rural): math 31% / reading 58% proficiency, ranked #295 of 539 in PA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: California Area El Sch (math 32% / reading 62%, grade D-, #737 of 1,518 statewide, top 52%, 490 students, 60% FRL); California Area Ms (math 27% / reading 67%, grade D+, #163 of 512 statewide, top 33%, 138 students, 62% FRL); California Area Shs (math 74%, 286 students, 36% FRL).
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 10y ago 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 $125k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1967 — 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.
• 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?
• 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.