231 Stone Ave

Templeton, PA 16259

$33,500A-

3 bd · 1.5 ba · 1,450 sqft · Built 1915 · SingleFamily · Active · 148 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,180/mo
• Mortgage (P&I): −$176
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $701/mo
• Annual: $8,411/yr
• Cap rate: 31.40%
• Cash-on-cash: 89.67%
• DSCR: 4.99
• 1% rule: 3.52%
• Cash to close: $9,380

Investor read

• This is a 3-bed/1.5-bath single-family listed at $34k.
• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• It's been on market 148 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.8%/yr); year-one equity from $232 of loan paydown is wiped out by about $930 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#1,629 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Armstrong SD (rural): math 38% / reading 58% proficiency, ranked #233 of 539 in PA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 58 units permitted in Armstrong County in 2024 (20 in 5+ unit buildings).
• Armstrong County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts 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 $20k; list at $34k implies a 68% gain — meaningful room to come down on a strong offer.
• At projected returns (-2.8% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1915 — 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.