234 Church St

Morris, PA 16858

$84,900B+

6 bd · 0.0 ba · 2,131 sqft · Built 1900 · Other · Pending · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,274/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $418/mo
• Annual: $5,011/yr
• Cap rate: 12.19%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• 1% rule: 1.50%
• Cash to close: $23,772

Investor read

• This is a 6-bed/?-bath other listed at $85k.
• At list price, monthly cash flow is $418 ($5k/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 77 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($587 loan paydown + $7k appreciation (8.5% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• West Branch Area SD (rural): math 30% / reading 49% proficiency, ranked #363 of 539 in PA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Branch Area El Sch (math 32% / reading 52%, grade F, #883 of 1,518 statewide, top 61%, 341 students, 43% FRL); West Branch Ms (math 23% / reading 48%, grade F, #317 of 512 statewide, top 63%, 257 students, 48% FRL); West Branch Area Hs (math 47%, 314 students, 34% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 99 units permitted in Clearfield County in 2024 (10 in 5+ unit buildings).
• Clearfield County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.