1330 Hanky Panky Rd

Galeton, PA 16921

$130,000C

3 bd · 2.0 ba · 1,721 sqft · Built 1900 · SingleFamily · Pending · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,172/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $69/mo
• Annual: $824/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• 1% rule: 0.90%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $69 ($824/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 $117k (9.8% below list).
• It's been on market 102 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (9.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.4% local appreciation)).
• Location reads 66/100 on livability (#1,038 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: schools D+, health & safety D, amenities F.
• Galeton Area SD (rural): math 35% / reading 50% proficiency, ranked #484 of 658 in PA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 32 units permitted in Tioga County in 2024 (0 in 5+ unit buildings).
• Tioga County population projected at -20% 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.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, 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

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 D-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.