20 N Market St

McVeytown, PA 17051

$130,000D+

2 bd · 2.0 ba · 2,171 sqft · Built 1859 · Other · Active · 265 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,077/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $-27/mo
• Annual: $-321/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• 1% rule: 0.83%
• Cash to close: $36,400

Investor read

• This is a 2-bed/2.0-bath other listed at $130k.
• At list price, monthly cash flow is $-27 ($-321/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (17.1% below list).
• It's been on market 265 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (17.1% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($899 loan paydown + $9k appreciation (6.7% local appreciation)).
• Location reads 62/100 on livability (#1,346 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools F, amenities F, commute F.
• Mifflin County SD (town): math 28% / reading 49% proficiency, ranked #380 of 539 in PA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1859 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 58 units permitted in Mifflin County in 2024 (0 in 5+ unit buildings).
• Mifflin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $130k implies a 271% gain — meaningful room to come down on a strong offer.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 265 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1859 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.