1401 State Route 227 · Cornplanter, PA 16301

$65,000

4 bd · 2.0 ba · 2,496 sqft · MultiFamily public records · 51 Days on market

Built 1900 0.51 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

NEW LISTING!! INCOME OPPORTUNITY!! There is history in this duplex - formerly the Old Plumer Store. Long term tenants now occupy the up and down duplex with 2 bedrooms and 1 full bath in each unit. Also, tenants pay all their own utilities making this a solid investment for its next owner. Located in the Plummer area in between Oil City and Pleasantville. Call to schedule your showing today!! 24 hour notice please. CASH ONLY

Key facts

• Long-term tenants
• Hud-approved
• Steady cash flow

Tags

• FULLY OCCUPIED DUPLEX
• IMMEDIATE RENTAL INCOME
• TWO UNITS
• LONG-TERM TENANTS
• STEADY CASH FLOW
• HUD-APPROVED

Property features AI

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Septic tank; Natural gas connected/available; Cable available; 100 amp electric service with fuses
• Home design: Residential income property; Vinyl siding with frame construction
• Construction: Composition roof
• Exterior features: Deck; Porch; TV antenna

Interior

• Heating & cooling: Forced air heating; No central air
• Interior features: Gas water heater; Partial basement; 11 total rooms

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $756/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Oil City Area SD (town): math 20% / reading 46% proficiency, ranked #436 of 539 in PA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $1k appreciation (2.2% local appreciation)).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $40k; list at $65k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 1900 — 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. 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.
7. 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.
8. 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: 3.78% ✓
• Cap rate: 34.20%
• Cash-on-cash: 99.67%
• DSCR: 5.43
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.57×
• Total profit: $101,344
• Equity at exit: $26,258

10-year hold

• IRR: —
• Equity multiple: 13.61×
• Total profit: $229,478
• Equity at exit: $38,295

Cash invested: $18,200 (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 16301

• Home prices YoY: 1.0%
• Active inventory: 53
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,456 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$61 /mo · $727/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $1,512

Break-even live

Break-even rent $542

Max offer price $65,000

Occupancy floor 33%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,456
Total (2 units)			$2,456

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $65,000 Active 51 DOM
2. 2026-06-17
   days on market $65,000 Active 50 DOM
3. 2026-06-16
   days on market $65,000 Active 49 DOM
4. 2026-06-15
   days on market $65,000 Active 48 DOM
5. 2026-06-13
   days on market $65,000 Active 46 DOM
6. 2026-06-12
   days on market $65,000 Active 45 DOM
7. 2026-06-09
   days on market $65,000 Active 42 DOM
8. 2026-06-08
   days on market $65,000 Active 41 DOM
9. 2026-06-08
   days on market $65,000 Active 40 DOM
10. 2026-06-07
    days on market $65,000 Active 39 DOM
11. 2026-06-04
    days on market $65,000 Active 36 DOM
12. 2026-06-02
    days on market $65,000 Active 35 DOM
13. 2026-06-01
    days on market $65,000 Active 34 DOM
14. 2026-05-31
    days on market $65,000 Active 33 DOM
15. 2026-04-28
    listed $65,000 Active 473-char remark
16. 2023-05-23
    soldstatus $40,000 Closed 431-char remark

    Show marketing remark (431 chars)

    NEW LISTING!! INCOME OPPORTUNITY!! There is history in this duplex - formerly the Old Plumer Store. Long term tenants now occupy the up and down duplex with 2 bedrooms and 1 full bath in each unit. Also, tenants pay all their own utilities making this a solid investment for its next owner. Located in the Plummer area in between Oil City and Pleasantville. Call to schedule your showing today!! 24 hour notice please. CASH ONLY

17. 2023-04-18
    historical Active Under Contract 431-char remark

    Show marketing remark (431 chars)

    NEW LISTING!! INCOME OPPORTUNITY!! There is history in this duplex - formerly the Old Plumer Store. Long term tenants now occupy the up and down duplex with 2 bedrooms and 1 full bath in each unit. Also, tenants pay all their own utilities making this a solid investment for its next owner. Located in the Plummer area in between Oil City and Pleasantville. Call to schedule your showing today!! 24 hour notice please. CASH ONLY

18. 2023-02-03
    listed $43,000 Active 431-char remark

    Show marketing remark (431 chars)

    NEW LISTING!! INCOME OPPORTUNITY!! There is history in this duplex - formerly the Old Plumer Store. Long term tenants now occupy the up and down duplex with 2 bedrooms and 1 full bath in each unit. Also, tenants pay all their own utilities making this a solid investment for its next owner. Located in the Plummer area in between Oil City and Pleasantville. Call to schedule your showing today!! 24 hour notice please. CASH ONLY

19. 2008-05-08
    soldstatus $29,000
20. 2004-03-29
    soldstatus $17,000

    Show marketing remark (142 chars)

    Nice sized units. New roof and vinyl siding. Unit 1 rent based on previous tenant's rent. Unit 2 tenant has been there for 24 years per owner.

ⓘ 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: $727 · $61/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: +$150/yr (+$12/mo · 20.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,472
• − Mortgage interest: −$3,641
• − Property taxes: −$727
• − Insurance: −$325
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$1,891
• Taxable income: $18,172
• Est. tax owed @ 24.0%: −$4,361
• After-tax cash flow: $13,779/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: Oil City Area SD
• NCES district ID: 4218090
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $37,451
• Composite: 27.39/100
• National rank: #6973
• State rank: #436 of 539 in PA

Livability — Cornplanter

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 15,067

Population outlook (Venango County) Hauer SSP2

• Today (2025): 48,827 people
• By 2030: 46,061 · -5.7%
• By 2040: 39,989 · -18.1%
• By 2050: 34,094 · -30.2%
• By 2075: 22,500 · -53.9%
• By 2100: 13,659 · -72.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Iranian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Venango

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -22.9pp toward R · 2008: -19.2pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+41.4 2016: R+42.4 2012: R+26.3 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 218.0124
• Rent YoY: —
• Metro: —
• 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

+282.4% since first listed

6 events — show timeline

• 2026-04-28 Listed $65,000 AVBREALTORS
• 2023-05-23 Sold (MLS) $40,000 AVBREALTORS
• 2023-04-18 Contingent — AVBREALTORS
• 2023-02-03 Listed $43,000 AVBREALTORS
• 2008-05-08 Sold (Public Records) $29,000 Public Records
• 2004-03-29 Sold (MLS) $17,000 AVBREALTORS

Property tax history

+0.4%/yr

Latest (2026): $727 · -1.7% YoY. Source: county tax records.