849 State Route 36

Westfield, PA 14885

$85,000B+

4 bd · 2.0 ba · 1,600 sqft · Built 1930 · SingleFamily · Pending · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,438/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $477/mo
• Annual: $5,726/yr
• Cap rate: 13.03%
• Cash-on-cash: 24.06%
• DSCR: 2.07
• 1% rule: 1.69%
• Cash to close: $23,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 98 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($588 loan paydown + $2k appreciation (2.8% local appreciation)).
• Location reads 64/100 on livability (#1,184 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools D, health & safety D, amenities F.
• Jasper-Troupsburg Central School District (rural): math 61% / reading 56% proficiency, ranked #319 of 755 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 2y 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.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.