408 East Erie St

Linesville, PA 16424

$145,900B-

3 bd · 1.0 ba · 1,312 sqft · Built 1947 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,555/mo
• Mortgage (P&I): −$765
• Tax + insurance: −$243
• HOA: −$0
• Vac / Maint / Mgmt: −$327
• Net cashflow: $220/mo
• Annual: $2,640/yr
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $40,852

Investor read

• This is a 3-bed/1.0-bath single-family listed at $146k. Condition is rated fair.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.5% local appreciation)).
• Location reads 69/100 on livability (#836 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Conneaut SD (rural): math 38% / reading 57% proficiency, ranked #241 of 539 in PA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 53 active listings in the ZIP; 83 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: exterior paint — visible discoloration on siding
• Minor: kitchen cabinets — yellowing and wear
• Minor: bathroom fixtures — simple, possibly outdated design