15 E High St

Muncy, PA 17756

$274,900C

4 bd · 3.0 ba · 2,877 sqft · Built 1901 · MultiFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,818/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$331
• HOA: −$0
• Vac / Maint / Mgmt: −$592
• Net cashflow: $454/mo
• Annual: $5,448/yr
• Cap rate: 8.27%
• Cash-on-cash: 7.08%
• DSCR: 1.31
• 1% rule: 1.03%
• Cash to close: $76,972

Investor read

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $275k.
• At list price, monthly cash flow is $454 ($5k/yr) — positive. Per door: $151/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#674 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Muncy SD (town): math 49% / reading 65% proficiency, ranked #99 of 539 in PA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ward L Myers El Sch (math 49% / reading 68%, grade B-, #426 of 1,518 statewide, top 28%, 457 students, 47% FRL); Muncy Jshs (math 50% / reading 62%, grade C, #90 of 437 statewide, top 21%, 484 students, 36% FRL).
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 73 units permitted in Lycoming County in 2024 (15 in 5+ unit buildings).
• Lycoming County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 2y 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 $238k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.