615 W 15th St

Tyrone, PA 16686

$133,000D+

3 bd · 1.0 ba · 1,990 sqft · Built 1890 · SingleFamily · Coming Soon · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$697
• Tax + insurance: −$256
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $-82/mo
• Annual: $-981/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• 1% rule: 0.83%
• Cash to close: $37,240

Investor read

• This is a 3-bed/1.0-bath single-family listed at $133k.
• At list price, monthly cash flow is $-82 ($-981/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (17.0% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (17.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.8%/yr); year-one equity from $920 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#319 in PA, #2,838 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F, employment F.
• Tyrone Area SD (town): math 35% / reading 57% proficiency, ranked #263 of 539 in PA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 51 active listings in the ZIP; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.5% in Tyrone — 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.

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?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.