138 A St · Morgan, PA 15322

$18,500

3 bd · 1.5 ba · 1,250 sqft · SingleFamily · 113 Days on market

Built 1941 4,752 sqft lot $15/sqft · 81% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +4.9/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't miss this opportunity to turn this three bedroom fixer-upper into the beautiful family home that you've always imagined. With a solid layout and generous living spaces, this property offers a fantastic opportunity for buyers ready to add their personal touch and build equity. Whether you're an investor or a homeowner with a vision, the possibilities here are endless.

Key facts

• 4,752 sq ft lot
• Built 1941
• Listed 113 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $18k).
• Recommended offer: $17k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Jefferson-Morgan SD (rural): math 25% / reading 47% proficiency, ranked #407 of 539 in PA (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $94 of equity ($128 loan paydown + $-34 appreciation (-0.2% local appreciation)).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.2% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $16,835 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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.

Investment metrics

• 1% rule: 6.08% ✓
• Cap rate: 55.67%
• Cash-on-cash: 176.33%
• DSCR: 8.85
• GRM: 1.4

CMA / ARV

• ARV (median comp): $98,615
• List price: $18,500
• Delta: -81.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 East St	0.11mi	3/1.0	1,250 (0%)	7mo	$70,000	$56	87
77 Walnut St	0.35mi	3/3.0	1,152 (-8%)	2mo	$200,000	$174	63
26 Berry Ave	0.54mi	2/1.0 (-1)	1,260 (+1%)	6mo	$133,900	$106	61
5 Teegarden Homes	0.47mi	3/1.0	1,250 (0%)	23mo	$17,500	$14	57
2432 Sandy Plains Rd	0.52mi	3/1.0	1,274 (+2%)	21mo	$43,507	$34	53
47 Clark St	0.66mi	3/2.0	1,244 (-0%)	16mo	$18,500	$15	53
43 Clark St	0.64mi	3/2.0	1,116 (-11%)	15mo	$124,500	$112	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.23×
• Total profit: $47,794
• Equity at exit: $5,201

10-year hold

• IRR: —
• Equity multiple: 21.53×
• Total profit: $106,359
• Equity at exit: $6,117

Cash invested: $5,180 (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 15322

• Home prices YoY: -0.2%
• Active inventory: 22
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$97
• Tax est. 1.5%: −$23 /mo · $278/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $761

Break-even live

Break-even rent $162

Max offer price $18,500

Occupancy floor 27%

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: $4,625
• Closing costs: $555
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $18,500 Active 113 DOM
2. 2026-06-17
   days on market $18,500 Active 112 DOM
3. 2026-06-16
   days on market $18,500 Active 111 DOM
4. 2026-06-15
   days on market $18,500 Active 110 DOM
5. 2026-06-13
   days on market $18,500 Active 108 DOM
6. 2026-06-12
   days on market $18,500 Active 107 DOM
7. 2026-06-09
   days on market $18,500 Active 104 DOM
8. 2026-06-08
   days on market $18,500 Active 103 DOM
9. 2026-06-08
   days on market $18,500 Active 102 DOM
10. 2026-06-07
    days on market $18,500 Active 101 DOM
11. 2026-06-04
    days on market $18,500 Active 98 DOM
12. 2026-06-02
    days on market $18,500 Active 97 DOM
13. 2026-06-01
    days on market $18,500 Active 96 DOM
14. 2026-05-31
    days on market $18,500 Active 95 DOM
15. 2026-03-18
    status Active 376-char remark

    Show marketing remark (376 chars)

    Don't miss this opportunity to turn this three bedroom fixer-upper into the beautiful family home that you've always imagined. With a solid layout and generous living spaces, this property offers a fantastic opportunity for buyers ready to add their personal touch and build equity. Whether you're an investor or a homeowner with a vision, the possibilities here are endless.

16. 2026-01-29
    status Pending 376-char remark

    Show marketing remark (376 chars)

    Don't miss this opportunity to turn this three bedroom fixer-upper into the beautiful family home that you've always imagined. With a solid layout and generous living spaces, this property offers a fantastic opportunity for buyers ready to add their personal touch and build equity. Whether you're an investor or a homeowner with a vision, the possibilities here are endless.

17. 2026-01-08
    listed $18,500 Active 376-char remark

    Show marketing remark (376 chars)

    Don't miss this opportunity to turn this three bedroom fixer-upper into the beautiful family home that you've always imagined. With a solid layout and generous living spaces, this property offers a fantastic opportunity for buyers ready to add their personal touch and build equity. Whether you're an investor or a homeowner with a vision, the possibilities here are endless.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,504
• − Mortgage interest: −$1,036
• − Property taxes: −$278
• − Insurance: −$92
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$538
• Taxable income: $9,399
• Est. tax owed @ 24.0%: −$2,256
• After-tax cash flow: $6,878/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: Jefferson-Morgan SD
• NCES district ID: 4212390
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 47% ▼ -10.00%
• Median HH income: $46,767
• Composite: 30.78/100
• National rank: #6153
• State rank: #407 of 539 in PA

Livability — Morgan

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

Census & demographics

• Population (ZIP): 1,656

Population outlook (Greene County) Hauer SSP2

• Today (2025): 34,975 people
• By 2030: 33,554 · -4.1%
• By 2040: 30,615 · -12.5%
• By 2050: 27,819 · -20.5%
• By 2075: 21,678 · -38.0%
• By 2100: 16,318 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 10% Italian 3% Scotch-Irish 2%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+44.8) · D 26.6% · R 71.5% · Other 1.9%
• 2008→2024 swing: -44.4pp toward R · 2008: -0.4pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+43.4 2016: R+41.7 2012: R+17.6 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.19%
• Current HPI: 107.8618
• 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

3 events — show timeline

• 2026-03-18 Relisted — West Penn MLS
• 2026-01-29 Pending — West Penn MLS
• 2026-01-08 Listed $18,500 West Penn MLS