247 S Main St

Picture Rocks, PA 17762

$120,000C

2 bd · 1.0 ba · 1,568 sqft · Built 1901 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $122/mo
• Annual: $1,462/yr
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k. Condition is rated fair.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 72/100 on livability (#667 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: health & safety D, amenities F, commute F.
• East Lycoming SD (town): math 52% / reading 62% proficiency, ranked #93 of 539 in PA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 73 units permitted in Lycoming County in 2024 (15 in 5+ unit buildings).
• Lycoming County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1901 — 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 A-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)

• Major: Kitchen floor — Exposed subfloor and damage indicate significant structural issue
• Major: Bath floor — Exposed subfloor and damage indicate significant structural issue
• Minor: Exterior siding — Photos don't show condition, but siding appears intact
• Minor: Exterior roof — Photos don't show condition, but roof appears intact
• Minor: Interior walls — Paint appears chipped, but photos don't show condition