99 Hospital St

Ridgway, PA 15853

$129,900C

4 bd · 1.0 ba · 1,725 sqft · Built 1994 · Other · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,253/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$389
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $-80/mo
• Annual: $-957/yr
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• 1% rule: 0.96%
• Cash to close: $36,372

Investor read

• This is a 4-bed/1.0-bath other listed at $130k. Condition is rated good.
• At list price, monthly cash flow is $-80 ($-957/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (3.5% below list).
• It's been on market 59 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (10.9% below list) — sets the bar for cash-flow.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#1,032 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, schools A; Watch: health & safety D, amenities F, commute F.
• Ridgway Area SD (town): math 53% / reading 68% proficiency, ranked #79 of 539 in PA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.1% of price.
• Market conditions: 25 active listings in the ZIP; 53 units permitted in Elk County in 2024 (0 in 5+ unit buildings).
• Elk County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $40k; list at $130k implies a 229% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.