118 South St · Shippenville, PA 16254

$109,900

4 bd · 2.0 ba · 1,350 sqft · MultiFamily · 9 Days on market

Built 1900 Average condition 10,018 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Appreciation +4.0/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Calling all investors! This is a well established purposely built duplex with both units accessed from the ground level. A Recent remodel that utilized the owners expertise in hotel remodeling. Both units have great floor plans. Interior images not available out of respect for the tenants privacy.

Key facts

• Recent remodel
• Great floor plans
• 0.23 acre lot

Tags

• PURPOSELY BUILT DUPLEX
• RECENT REMODEL
• GREAT FLOOR PLANS

Property features AI

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer; 100 Amp electric service with circuit breakers
• Home design: Residential income property
• Construction: Vinyl siding; Composition roof; Slab foundation; Built area approximately 1350
• Exterior features: Front porch

Interior

• Flooring: Laminate flooring
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; No fireplace

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $110k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive. Per door: $353/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).

Location & tenants

• Location reads 61/100 on livability (#1,402 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, health & safety D+, schools D.
• Keystone SD (rural): math 34% / reading 66% proficiency, ranked #188 of 539 in PA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 25 units permitted in Clarion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clarion County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.69% ✓
• Cap rate: 13.99%
• Cash-on-cash: 27.50%
• DSCR: 2.22
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.04×
• Total profit: $31,997
• Equity at exit: $21,562

10-year hold

• IRR: 30.3%
• Equity multiple: 3.93×
• Total profit: $90,157
• Equity at exit: $18,636

Cash invested: $30,772 (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 16254

• Home prices YoY: -1.3%
• Active inventory: 18
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,854 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $705

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 57%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,854
Total (2 units)			$1,854

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $109,900 Active 9 DOM
2. 2026-06-17
   days on market $109,900 Active 8 DOM
3. 2026-06-16
   days on market $109,900 Active 7 DOM
4. 2026-06-15
   days on market $109,900 Active 6 DOM
5. 2026-06-13
   days on market $109,900 Active 4 DOM
6. 2026-06-12
   days on market $109,900 Active 3 DOM
7. 2026-06-09
   remarks 298-char remark
8. 2026-06-09
   listed $109,900 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $22,248
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$3,197
• Taxable income: $7,137
• Est. tax owed @ 24.0%: −$1,713
• After-tax cash flow: $6,749/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.

Condition & rehab AI · 3 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to address weathered siding and landscaping, with potential for significant value increase through exterior improvements.

Repairs flagged

• Moderate siding — Weathered and discolored
• Minor landscaping — Overgrown vegetation

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both landscaping — Improves curb appeal and rental appeal
• Both repair siding — Fixes aesthetic issues and improves value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Weathered and discolored	Moderate	$3,000–15,000
landscaping · Overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both landscaping — Improves curb appeal and rental appeal ↑
• Both repair siding — Fixes aesthetic issues and improves value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Keystone SD
• NCES district ID: 4212720
• Math proficiency: 34% ▼ -16.00%
• Reading proficiency: 66% ▼ -6.00%
• Median HH income: $45,395
• Composite: 42.22/100
• National rank: #3285
• State rank: #188 of 539 in PA

Livability — Shippenville

• Score: 61/100
• State rank: #1402
• US rank: #17729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shippenville, PA
• Population (ZIP): 3,468

Population outlook (Clarion County) Hauer SSP2

• Today (2025): 37,796 people
• By 2030: 36,830 · -2.6%
• By 2040: 34,113 · -9.7%
• By 2050: 31,092 · -17.7%
• By 2075: 24,200 · -36.0%
• By 2100: 18,737 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Black 1%
• Common ancestry: Romanian 4% Serbian 3% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Clarion

• 2024 margin: Solid R (+53.1) · D 23.1% · R 76.2%
• 2008→2024 swing: -30.7pp toward R · 2008: -22.4pp · 2024: -53.1pp
• All cycles: 2024: R+53.1 2020: R+50.8 2016: R+47.4 2012: R+36.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.96%
• Current HPI: 143.9554
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-09 Listed $109,900 AVBREALTORS