787 Champlin Hill Rd

Eldred, PA 16749

$149,900D

3 bd · 2.0 ba · 1,760 sqft · Built 1984 · Other · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,219/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$274
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $-97/mo
• Annual: $-1,160/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• 1% rule: 0.81%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath other listed at $150k.
• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (18.7% below list).
• It's been on market 65 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (18.7% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.9% local appreciation)).
• Location reads 65/100 on livability (#1,102 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety D, amenities F.
• Port Allegany SD (rural): math 26% / reading 40% proficiency, ranked #433 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 29 units permitted in McKean County in 2024 (0 in 5+ unit buildings).
• McKean County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 9, paydown + projected appreciation supports a ~$34k 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 65 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.