227-229 Mary Ave

Bloomsburg, PA 17815

$165,000C+

6 bd · 2.0 ba · 3,600 sqft · Built 1900 · Other · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,761/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$795
• HOA: −$0
• Vac / Maint / Mgmt: −$370
• Net cashflow: $-269/mo
• Annual: $-3,229/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• 1% rule: 1.07%
• Cash to close: $46,200

Investor read

• This is a 6-bed/2.0-bath other listed at $165k.
• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (28.8% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 90 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (28.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#147 in PA, #1,183 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D, commute F.
• Bloomsburg Area SD (urban): math 33% / reading 57% proficiency, ranked #289 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.8%/yr); 121 active listings in the ZIP; 82 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.7% vs local median 3.8% in Bloomsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 31% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 B-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.