362 Main St

Genesee, PA 16923

$81,500B+

2 bd · 1.0 ba · 1,389 sqft · Built 1870 · SingleFamily · Active · 97 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,115/mo
• Mortgage (P&I): −$427
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $262/mo
• Annual: $3,142/yr
• Cap rate: 10.97%
• Cash-on-cash: 16.69%
• DSCR: 1.74
• 1% rule: 1.37%
• Cash to close: $22,820

Investor read

• This is a 2-bed/1.0-bath single-family listed at $82k. Condition is rated fair.
• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• It's been on market 97 days — a 9% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($563 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Northern Potter SD (rural): math 29% / reading 45% proficiency, ranked #404 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $56/mo; built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 24 units permitted in Potter County in 2024 (0 in 5+ unit buildings).
• Potter County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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 (3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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 1870 — 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?
• 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.
• 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: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding is peeling and in need of repainting or replacement.
• Major: flooring — The flooring in the kitchen and bathrooms appears to be carpeted and in need of replacement.
• Major: interior walls/paint — The interior walls and paint appear to be in poor condition, with peeling paint and visible wear.
• Major: electrical panel — The electrical panel appears to be in poor condition, with visible wear and potential issues.
• Major: plumbing — The plumbing appears to be in poor condition, with visible wear and potential issues.