203 Corner Rd · Boalsburg, PA 16827

$139,000

1 bd · None ba · 615 sqft · SingleFamily · 13 Days on market

Built 1925 Poor condition $226/sqft · 17% below area Est $167k · 17% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Have you been looking for the perfect cabin get away close to town and campus? Look no further. Tucked away in a peaceful, secluded setting behind Tussey Mtn Ski area in Rothrock State Forest, you will find this lovely updated and well cared for cabin. Cabin is nestled in the woods on a private road just off of Bear Meadows Rd. (paved). The cabin features; many recent updates, open floor plan, large enclosed porch, deck and loft. Excellent hunting, hiking and mountain biking and close to golf course, ski area and several State Parks. $200.00 Annual lease fee payable to Commonwealth of Pa. Don't miss out on this fantastic vacation spot. See documents for recent cabin improvements.

Key facts

• Built 1925
• Listed 13 days

Property features AI

Finance

• Other: Total finished above-grade area estimated at 615; Total below-grade area reported as 0
• Financial info: Land lease of $200 annually; Land lease years remaining: 0
• HOA & community: Association recreation fee of $200 (fee covers other items)

Exterior

• Parking: Driveway parking
• Utilities: Electric available; No septic system; holding tank for sewage
• Home design: Detached property; Shingle roof; Crawl space foundation; Year built estimated
• Construction: Wood siding construction
• Exterior features: Detached structure; Pets allowed on a case-by-case basis; Not in a federal flood zone; Above-grade other structures

Interior

• Kitchen: Kitchen
• Bedrooms: One bedroom on the upper level
• Heating & cooling: Wood-burning stove heating
• Interior features: Estimated living area; Living room

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath single-family listed at $139k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $79 ($951/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 $139k (0.2% below list).
• Recommended offer: $139k (0.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 2.2% in Boalsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#149 in PA, #1,210 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+, amenities F, health & safety F.
• State College Area SD (urban): math 62% / reading 73% proficiency, ranked #41 of 539 in PA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 39 active listings in the ZIP; solid renter incomes; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).
• This rent is only 16% of the median local income ($104k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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 $72k; list at $139k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,656 (0.2% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $166,728
• List price: $139,000
• Delta: -16.63%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-17,422
• Equity at exit: $20,725

10-year hold

• IRR: -3.2%
• Equity multiple: 0.78×
• Total profit: $-8,448
• Equity at exit: $12,018

Cash invested: $38,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16827

• Active inventory: 39
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $79

Break-even live

Break-even rent $1,286

Max offer price $139,000

Occupancy floor 89%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-06
   listed $139,000 Active 996-char remark
2. 2013-06-21
   soldstatus $72,000 688-char remark

   Show marketing remark (688 chars)

   Have you been looking for the perfect cabin get away close to town and campus? Look no further. Tucked away in a peaceful, secluded setting behind Tussey Mtn Ski area in Rothrock State Forest, you will find this lovely updated and well cared for cabin. Cabin is nestled in the woods on a private road just off of Bear Meadows Rd. (paved). The cabin features; many recent updates, open floor plan, large enclosed porch, deck and loft. Excellent hunting, hiking and mountain biking and close to golf course, ski area and several State Parks. $200.00 Annual lease fee payable to Commonwealth of Pa. Don't miss out on this fantastic vacation spot. See documents for recent cabin improvements.

3. 2012-11-16
   listed $75,000 688-char remark

   Show marketing remark (688 chars)

   Have you been looking for the perfect cabin get away close to town and campus? Look no further. Tucked away in a peaceful, secluded setting behind Tussey Mtn Ski area in Rothrock State Forest, you will find this lovely updated and well cared for cabin. Cabin is nestled in the woods on a private road just off of Bear Meadows Rd. (paved). The cabin features; many recent updates, open floor plan, large enclosed porch, deck and loft. Excellent hunting, hiking and mountain biking and close to golf course, ski area and several State Parks. $200.00 Annual lease fee payable to Commonwealth of Pa. Don't miss out on this fantastic vacation spot. See documents for recent cabin improvements.

4. 2012-04-02
   historical
5. 2012-04-02
   listed $79,900
6. 2010-03-18
   soldstatus $78,000
7. 2009-09-11
   listed $99,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,639
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$1,362
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$4,044
• Taxable loss: −$1,300
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $1,263/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including exterior siding replacement, interior painting, HVAC system repair, and landscaping improvements. Significant investment is needed to bring the property up to a livable condition.

Repairs flagged

• Major exterior siding — The siding is visibly weathered and in need of replacement.
• Major interior walls/paint — The interior walls and paint appear to be in poor condition and need repainting.
• Major HVAC/mechanicals — No visible photos of the HVAC/mechanicals, but given the overall condition, it is likely in need of repair or replacement.
• Major landscaping — The landscaping is overgrown and requires significant maintenance and landscaping improvements.

Value-add opportunities

• Both exterior siding replacement — Improves the curb appeal and overall appearance of the property.
• Both interior painting — Enhances the interior and makes the space more inviting.
• Both HVAC system repair or replacement — Ensures the HVAC system is functioning properly and energy-efficient.
• Both landscaping and curb appeal improvements — Enhances the property's overall appearance and makes it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding is visibly weathered and in need of replacement.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint appear to be in poor condition and need repainting.	Major	$15,000–50,000
HVAC/mechanicals · No visible photos of the HVAC/mechanicals, but given the overall condition, it is likely in need of repair or replacement.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and requires significant maintenance and landscaping improvements.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior siding replacement — Improves the curb appeal and overall appearance of the property. ↑
• Both interior painting — Enhances the interior and makes the space more inviting. ↑
• Both HVAC system repair or replacement — Ensures the HVAC system is functioning properly and energy-efficient. ↑
• Both landscaping and curb appeal improvements — Enhances the property's overall appearance and makes it more attractive to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: State College Area SD
• NCES district ID: 4222770
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $49,753
• Composite: 57.23/100
• National rank: #1094
• State rank: #41 of 539 in PA

Livability — Boalsburg

• Score: 82/100
• State rank: #149
• US rank: #1210

Category grades

Amenities F Commute A+ Cost of living D+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Centre County · 99,000 people
• City population: 5,123
• Metro: State College, PA
• Population (ZIP): 5,123
• Household income: $103,558
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 114.0

Population outlook (Centre County) Hauer SSP2

• Today (2025): 177,113 people
• By 2030: 185,138 · +4.5%
• By 2040: 196,009 · +10.7%
• By 2050: 205,070 · +15.8%
• By 2075: 217,575 · +22.8%
• By 2100: 230,649 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 7% Italian 6% Slovak 3%
• Foreign-born: 4% · South Korea, Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Centre

• 2024 margin: Toss-up / Even · D 50.9% · R 48.1% · Other 1.0%
• 2008→2024 swing: -9.0pp toward R · 2008: 11.8pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+4.8 2016: D+1.9 2012: R+0.0 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.93%
• Current HPI: 199.567
• Rent YoY: —
• Metro: State College, PA
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+39.1% since first listed

8 events — show timeline

• 2026-05-19 Pending — BRIGHT MLS
• 2026-05-06 Listed $139,000 BRIGHT MLS
• 2013-06-21 Sold (MLS) $72,000 BRIGHT MLS
• 2012-11-16 Listed $75,000 BRIGHT MLS
• 2012-04-02 Listing Removed — BRIGHT MLS
• 2012-04-02 Listed $79,900 BRIGHT MLS
• 2010-03-18 Sold (MLS) $78,000 BRIGHT MLS
• 2009-09-11 Listed $99,900 BRIGHT MLS