515 East Penn Ave

Knox, PA 16232

$105,900C

4 bd · 4.0 ba · 960 sqft · Built 1997 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,133/mo
• Mortgage (P&I): −$555
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $163/mo
• Annual: $1,958/yr
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $29,652

Investor read

• This is a 4-bed/4.0-bath single-family listed at $106k.
• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.8%/yr); year-one equity from $732 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#271 in PA, #2,387 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Keystone SD (rural): math 34% / reading 66% proficiency, ranked #188 of 539 in PA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 11 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.
• Current owner paid $81k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.