8190 Route 487

Mildred, PA 18614

$45,000B

4 bd · 1.0 ba · 1,080 sqft · Built 1900 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $858/mo
• Annual: $10,293/yr
• Cap rate: 29.17%
• Cash-on-cash: 81.69%
• DSCR: 4.63
• 1% rule: 3.33%
• Cash to close: $12,600

Investor read

• This is a 4-bed/1.0-bath single-family listed at $45k.
• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $335 of equity ($311 loan paydown + $24 appreciation (0.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Sullivan County SD (rural): math 30% / reading 46% proficiency, ranked #387 of 539 in PA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 12 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• Sullivan County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y 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 $25k; list at $45k implies a 80% gain — meaningful room to come down on a strong offer.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• 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.