1317-1319 University Dr · State College, PA 16801

$425,000

4 bd · 2.0 ba · 1,769 sqft · MultiFamily public records · 6 Days on market

Built 1969 0.35 ac lot $240/sqft · 9% below area Est $476k · 11% under

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Why this score? — see what drove the D+ 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 +12.4/30.0
• ARV discount +12.3/15.0
• Schools +5.7/10.0
• Livability +4.5/5.0
• DSCR +3.7/10.0
• 1% rule +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

A standout investment opportunity in State College Borough, this fully leased duplex offers established STUDENT HOME LICENSES & RENTAL PERMITS plus unbeatable proximity to Penn State University, a combination that continues to drive strong, reliable demand. Situated along the CATA bus route, the property benefits from consistent tenant interest in a highly desirable location. Each unit is approximately 900 sq. ft. & features hardwood floors, a comfortable living room, a kitchen with included refrigerators & ranges, 2 bedrooms, 1 full bathroom & unfinished basements that provide ample storage. Both units are separately metered with tenants responsible for all utilities

Key facts

• Cata bus route
• Separately metered
• Hardwood floors

Tags

• CATA BUS ROUTE
• HARDWOOD FLOORS
• KITCHEN WITH INCLUDED RANGES
• AMPLE STORAGE
• SEPARATELY METERED
• ELECTRIC CEILING HEAT

Property features AI

Finance

• Other: Unfinished basement
• Financial info: Fee simple ownership; Total of 2 units (multifamily)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Semi-detached building; Estimated 1,800 finished above-grade square feet
• Construction: Brick construction; Block foundation; Shingle roof; Built year: Assessor-reported
• Exterior features: Off-street parking; No tidal water

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Entry-level bedroom; Two 2-bedroom units (multifamily)
• Flooring: Wood floors
• Bathrooms: Bathroom(s) with tub/shower
• Heating & cooling: Ceiling heating; Electric heating; Electric hot water
• Interior features: Tub with shower; Eat-in kitchen; Wood floors

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $-71 ($-857/yr) — negative. Per door: $-36/mo.
• To cash-flow at today's rent, offer at most $412k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $353k (17.0% below list).
• Recommended offer: $353k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 1.6% in State College — 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.

Location & tenants

• Location reads 89/100 on livability (#29 in PA, #164 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: employment C-, cost of living C-.
• State College Area SD (urban): math 62% / reading 73% proficiency, ranked #41 of 539 in PA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.8%/yr); 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).
• At $3,526/mo this rent would consume 68% of the median local household income ($62k/yr) (locally 3590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $352,600 (17.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 10.0

CMA / ARV

• ARV (median comp): $476,007
• List price: $425,000
• Delta: -10.72%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1317-1319 University Dr	0.00mi	4/—	1,800 (+2%)	0mo	$450,000	$250	97
1307-1309 University Dr	0.02mi	4/—	1,800 (+2%)	1mo	$450,000	$250	96
1355-1357 University Dr	0.08mi	4/—	1,800 (+2%)	0mo	$440,000	$244	93
120,122 A & B Logan Ave	0.74mi	5/— (+1)	1,768 (-0%)	11mo	$515,000	$291	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.38×
• Total profit: $-74,228
• Equity at exit: $63,369

10-year hold

• IRR: -10.3%
• Equity multiple: 0.38×
• Total profit: $-73,803
• Equity at exit: $36,746

Cash invested: $119,000 (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 16801

• Rents YoY: 2.8%
• Active inventory: 158
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $3,526 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$451 /mo · $5,414/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $-71

Break-even live

Break-even rent $3,616

Max offer price $412,382

Occupancy floor 97%

Sensitivity live

Price	-10% $169	-5% $49	+0% $-71	+5% $-192	+10% $-312
Rent	-10% $-350	-5% $-211	+0% $-71	+5% $68	+10% $207
Rate	-1.0pp $143	-0.5pp $37	base $-71	+0.5pp $-182	+1.0pp $-294

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,526
Total (2 units)			$3,526

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
679-A Waupelani Dr State College, PA	4.0	1.0–2.5	1335	$2,619	$1.96	44d	47	1.47mi

Listing history 2 events

1. 2026-05-11
   status Pending 1381-char remark
2. 2026-05-05
   listed $425,000 Active 1381-char remark

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $5,414 · $451/mo
• Projected year-2 tax: $6,064 · $505/mo
• Expected delta: +$651/yr (+$54/mo · 12.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,312
• − Mortgage interest: −$23,807
• − Property taxes: −$5,414
• − Insurance: −$2,125
• − Repairs & maintenance: −$3,385
• − Management: −$3,385
• − Depreciation: −$12,364
• Taxable loss: −$8,167
• Est. tax savings @ 24.0%: +$1,960
• After-tax cash flow: $1,103/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: State College Area SD
• NCES district ID: 4222770
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $49,753
• Composite: 57.23/100
• National rank: #1094
• State rank: #41 of 539 in PA

Livability — State College

• Score: 89/100
• State rank: #29
• US rank: #164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: State College, PA
• County: Centre County · 99,000 people
• City population: 64,751
• Metro: State College, PA
• Population (ZIP): 40,774
• Household income: $61,836
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 3590.0

Population outlook (Centre County) Hauer SSP2

• Today (2025): 177,113 people
• By 2030: 185,138 · +4.5%
• By 2040: 196,009 · +10.7%
• By 2050: 205,070 · +15.8%
• By 2075: 217,575 · +22.8%
• By 2100: 230,649 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 9% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 6% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 12% · China, South Korea, Canada
• Languages at home: 86% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

Political lean MEDSL · Centre

• 2024 margin: Toss-up / Even · D 50.9% · R 48.1% · Other 1.0%
• 2008→2024 swing: -9.0pp toward R · 2008: 11.8pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+4.8 2016: D+1.9 2012: R+0.0 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.33%
• Current HPI: 208.2423
• Rent YoY: ▲ 2.77%
• Metro: State College, PA
• 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

+5.9% since first listed

4 events — show timeline

• 2026-06-05 Sold (Public Records) $450,000 Public Records
• 2026-06-05 Sold (MLS) $450,000 BRIGHT MLS
• 2026-05-11 Pending — BRIGHT MLS
• 2026-05-05 Listed $425,000 BRIGHT MLS

Property tax history

+3.4%/yr

Latest (2026): $5,414 · +4.9% YoY. Source: county tax records.