321 Ridge Avenue Lot 23 Ave

Strattanville, PA 16258

$55,000B+

3 bd · 2.0 ba · 1,344 sqft · Built 1999 · Manufactured · Active · 143 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,108/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $439/mo
• Annual: $5,268/yr
• Cap rate: 15.87%
• Cash-on-cash: 34.21%
• DSCR: 2.52
• 1% rule: 2.01%
• Cash to close: $15,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 143 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 67/100 on livability (#1,001 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, health & safety D+.
• Clarion-Limestone Area SD (rural): math 48% / reading 65% proficiency, ranked #116 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 8 active listings in the ZIP; 25 units permitted in Clarion County in 2024 (0 in 5+ unit buildings).
• Clarion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $14k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.