14298 Primrose Dr

Pymatuning North, PA 16424

$149,900C+

2 bd · 1.0 ba · 1,060 sqft · Built 1966 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,459/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $216/mo
• Annual: $2,591/yr
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• 1% rule: 0.97%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (2.7% below list).
• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (2.7% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.5% local appreciation)).
• Location reads 58/100 on livability (#1,568 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, 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.
• 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.
• 3 sale attempts since 4y ago 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 $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $42k 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

• Built in 1966 — 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 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?
• 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.