808 1st Ave · Altoona, PA 16602

$74,500

3 bd · 1.5 ba · 1,224 sqft · SingleFamily · 20 Days on market

Built 1933 3,049 sqft lot Est $114k · 35% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this real find located in the city on 1st Ave. Great starter home with finished attic (could be 3rd bedroom). No heat or central air in attic area. This would be a captive bedroom.

Key facts

• Finished attic
• Captive bedroom
• 3,049 sq ft lot

Tags

• FINISHED ATTIC
• CAPTIVE BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 5.8% in Altoona — 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.

Location & tenants

• Location reads 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 151 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $515 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $74k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,382 (1.5% below list)

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.34%
• DSCR: 1.91
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $113,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 6th Ave	0.29mi	3/1.0	1,172 (-4%)	1mo	$13,000	$11	77
801 3rd Ave	0.10mi	2/1.0 (-1)	1,288 (+5%)	9mo	$35,000	$27	72
224 Hudson Ave	0.54mi	3/1.0	1,200 (-2%)	2mo	$170,000	$142	68
125 Crawford Ave	0.53mi	3/1.0	1,224 (0%)	10mo	$128,900	$105	65
408 Bell Ave	0.33mi	3/2.0	1,314 (+7%)	8mo	$122,000	$93	64
1422 Walton Ave	0.53mi	3/2.0	1,190 (-3%)	7mo	$125,000	$105	63
409 2nd St	0.53mi	3/1.0	1,148 (-6%)	1mo	$12,500	$11	62
1018 S 10th St	0.59mi	3/1.0	1,176 (-4%)	3mo	$131,900	$112	61
1313 Grant Ave	0.47mi	3/2.0	1,371 (+12%)	1mo	$245,000	$179	56
712 Logan Ave	0.29mi	3/1.0	1,403 (+15%)	9mo	$88,000	$63	53
1518 1st Ave	0.58mi	2/1.0 (-1)	1,350 (+10%)	3mo	$116,400	$86	46
224 E 3rd Ave	0.75mi	3/1.0	1,377 (+12%)	0mo	$98,700	$72	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.6%
• Equity multiple: 1.50×
• Total profit: $10,464
• Equity at exit: $11,108

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $38,165
• Equity at exit: $6,441

Cash invested: $20,860 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16602

• Home prices YoY: -30.3%
• Active inventory: 151
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$391
• Tax from tax record: −$86 /mo · $1,031/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $354

Break-even live

Break-even rent $643

Max offer price $74,500

Occupancy floor 63%

Sensitivity live

Price	-10% $396	-5% $375	+0% $354	+5% $333	+10% $311
Rent	-10% $268	-5% $311	+0% $354	+5% $397	+10% $440
Rate	-1.0pp $391	-0.5pp $373	base $354	+0.5pp $334	+1.0pp $315

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 10th St Unit Rear- 1st Fl Altoona, PA	2.0	1.0	800	$1,100	$1.38	44d	1	0.19mi
201 2nd Ave Unit 2nd Fl Altoona, PA	3.0	1.0	1244	$790	$0.64	44d	1	0.53mi
1102 17th Ave Altoona, PA	3.0	1.0	1430	$899	$0.63	44d	1	0.96mi
1489 Washington Ave Altoona, PA	3.0	1.5	1050	$850	$0.81	44d	1	1.25mi
1101 E Walton Ave Altoona, PA	2.0–3.0	1.0–1.5	975	$1,605	$1.65	44d	9	1.40mi

Listing history 4 events

1. 2026-03-23
   status Pending
2. 2026-03-03
   listed $74,500 Active
3. 1992-10-01
   soldstatus $28,500
4. 1988-06-01
   soldstatus $24,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,031 · $86/mo
• Projected year-2 tax: $1,104 · $92/mo
• Expected delta: +$73/yr (+$6/mo · 7.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,083
• − Mortgage interest: −$4,173
• − Property taxes: −$1,031
• − Insurance: −$372
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,167
• Taxable income: $3,246
• Est. tax owed @ 24.0%: −$779
• After-tax cash flow: $3,465/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Altoona Area SD
• NCES district ID: 4202340
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $38,465
• Composite: 30.85/100
• National rank: #6130
• State rank: #406 of 539 in PA

Livability — Altoona

• Score: 79/100
• State rank: #237
• US rank: #2060

Category grades

Amenities F Commute A+ Cost of living A+ Crime C- Employment D Housing A+ Health & safety B+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, PA
• County: Blair County · 59,867 people
• City population: 59,867
• Metro: Altoona, PA
• Population (ZIP): 26,352
• Household income: $55,046
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 740.0

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.37%
• Current HPI: 212.2268
• Rent YoY: —
• Metro: Altoona, PA
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+210.4% since first listed

4 events — show timeline

• 2026-03-23 Pending — AHARMLS
• 2026-03-03 Listed $74,500 AHARMLS
• 1992-10-01 Sold (Public Records) $28,500 Public Records
• 1988-06-01 Sold (Public Records) $24,000 Public Records

Property tax history

-4.6%/yr

Latest (2025): $1,031 · +13.0% YoY. Source: county tax records.