1402 Hickory St

Pymatuning Central, PA 16424

$112,000C

2 bd · 1.0 ba · 600 sqft · Built 1976 · SingleFamily · Active · 245 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,212/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $183/mo
• Annual: $2,200/yr
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $31,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $112k. Condition is rated fair.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• It's been on market 245 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($774 loan paydown + $10k appreciation (8.5% local appreciation)).
• Location reads 64/100 on livability (#1,181 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, schools 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.
• 5 sale attempts 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 (8.5% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1976 — 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 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant wear and tear
• Major: roof — Weathered condition
• Major: flooring — Worn carpet
• Major: interior walls — Painted walls with potential peeling