1026 N Center St · Corry, PA 16407

$124,999

3 bd · 1.0 ba · 1,382 sqft · SingleFamily public records · 4 Days on market

Built 1925 7,841 sqft lot $90/sqft · 8% below area Est $136k · 8% under ↓ 19% since listing

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Why this score? — see what drove the C+ 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 +16.9/30.0
• ARV discount +11.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 1026 N Center St in Corry, PA. Brand new metal roof just finished! This charming and affordable home is a great opportunity for first-time buyers looking to step into homeownership. With a comfortable layout and plenty of natural light, the home offers cozy living spaces that are easy to maintain and make your own. The yard provides room for outdoor relaxation, privacy, or a small garden, perfect for enjoying quiet evenings or weekend gatherings. Conveniently located close to schools, shopping, dining, and downtown Corry, this home offers the ease of small-town living with everyday necessities just minutes away. Whether you're starting out, or downsizing, 1026 N Center St is a welcoming place to put down roots.

Key facts

• Close to schools
• Metal roof
• Close to dining

Tags

• METAL ROOF
• OUTDOOR RELAXATION
• SMALL GARDEN
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO DINING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $81 ($976/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (2.5% below list).
• Recommended offer: $122k (2.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.0% in Corry — 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 73/100 on livability (#573 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, health & safety A; Watch: amenities D+, commute F, employment F.
• Corry Area SD (town): math 33% / reading 52% proficiency, ranked #332 of 539 in PA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,866 (2.5% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 8.5

CMA / ARV

• ARV (median comp): $135,679
• List price: $124,999
• Delta: -7.87%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1043 N Center St	0.04mi	3/1.0	1,256 (-9%)	18mo	$117,500	$94	68
30 Elk St	0.27mi	3/2.0	1,500 (+8%)	6mo	$180,000	$120	64
336 Essex St	0.75mi	3/1.5	1,356 (-2%)	7mo	$24,500	$18	54
144 Wright St	0.69mi	4/2.0 (+1)	1,376 (-0%)	5mo	$50,000	$36	54
309 W Smith St	0.71mi	3/1.5	1,362 (-1%)	12mo	$130,000	$95	53
717 N Center St	0.34mi	2/1.0 (-1)	1,176 (-15%)	5mo	$46,250	$39	50
424 Marion St	0.70mi	2/1.0 (-1)	1,360 (-2%)	12mo	$83,000	$61	50
201 Franklin St	0.72mi	3/2.0	1,314 (-5%)	7mo	$32,000	$24	49
603 Mead Ave	0.53mi	2/1.0 (-1)	1,247 (-10%)	10mo	$129,000	$103	45
130 Wright St	0.72mi	3/1.5	1,499 (+8%)	7mo	$125,000	$83	45
284 Mound St	0.58mi	2/1.0 (-1)	1,208 (-13%)	7mo	$160,000	$132	41
160 Wright St	0.66mi	3/1.5	1,512 (+9%)	16mo	$150,000	$99	38

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 3.09×
• Total profit: $73,287
• Equity at exit: $112,609

10-year hold

• IRR: 23.1%
• Equity multiple: 7.05×
• Total profit: $211,803
• Equity at exit: $242,846

Cash invested: $35,000 (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 16407

• Home prices YoY: 11.0%
• Active inventory: 41
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $81

Break-even live

Break-even rent $1,116

Max offer price $124,999

Occupancy floor 88%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $124,999 Active 4 DOM
2. 2026-06-17
   days on market $124,999 Active 3 DOM
3. 2026-06-16
   days on market $124,999 Active 2 DOM
4. 2026-06-15
   pricedays on marketlisting id $124,999 Active 1 DOM
5. 2026-05-31
   days on market $125,000 Active 139 DOM
6. 2026-04-15
   price $125,000 731-char remark

   Show marketing remark (731 chars)

   Welcome to 1026 N Center St in Corry, PA. Brand new metal roof just finished! This charming and affordable home is a great opportunity for first-time buyers looking to step into homeownership. With a comfortable layout and plenty of natural light, the home offers cozy living spaces that are easy to maintain and make your own. The yard provides room for outdoor relaxation, privacy, or a small garden, perfect for enjoying quiet evenings or weekend gatherings. Conveniently located close to schools, shopping, dining, and downtown Corry, this home offers the ease of small-town living with everyday necessities just minutes away. Whether you're starting out, or downsizing, 1026 N Center St is a welcoming place to put down roots.

7. 2026-02-07
   price $130,000 731-char remark

   Show marketing remark (731 chars)

   Welcome to 1026 N Center St in Corry, PA. Brand new metal roof just finished! This charming and affordable home is a great opportunity for first-time buyers looking to step into homeownership. With a comfortable layout and plenty of natural light, the home offers cozy living spaces that are easy to maintain and make your own. The yard provides room for outdoor relaxation, privacy, or a small garden, perfect for enjoying quiet evenings or weekend gatherings. Conveniently located close to schools, shopping, dining, and downtown Corry, this home offers the ease of small-town living with everyday necessities just minutes away. Whether you're starting out, or downsizing, 1026 N Center St is a welcoming place to put down roots.

8. 2026-01-29
   price $144,900 731-char remark

   Show marketing remark (731 chars)

   Welcome to 1026 N Center St in Corry, PA. Brand new metal roof just finished! This charming and affordable home is a great opportunity for first-time buyers looking to step into homeownership. With a comfortable layout and plenty of natural light, the home offers cozy living spaces that are easy to maintain and make your own. The yard provides room for outdoor relaxation, privacy, or a small garden, perfect for enjoying quiet evenings or weekend gatherings. Conveniently located close to schools, shopping, dining, and downtown Corry, this home offers the ease of small-town living with everyday necessities just minutes away. Whether you're starting out, or downsizing, 1026 N Center St is a welcoming place to put down roots.

9. 2026-01-12
   listed $154,900 Active 731-char remark

   Show marketing remark (731 chars)

   Welcome to 1026 N Center St in Corry, PA. Brand new metal roof just finished! This charming and affordable home is a great opportunity for first-time buyers looking to step into homeownership. With a comfortable layout and plenty of natural light, the home offers cozy living spaces that are easy to maintain and make your own. The yard provides room for outdoor relaxation, privacy, or a small garden, perfect for enjoying quiet evenings or weekend gatherings. Conveniently located close to schools, shopping, dining, and downtown Corry, this home offers the ease of small-town living with everyday necessities just minutes away. Whether you're starting out, or downsizing, 1026 N Center St is a welcoming place to put down roots.

ⓘ 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: $2,086 · $174/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,624
• − Mortgage interest: −$7,002
• − Property taxes: −$2,086
• − Insurance: −$625
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$3,636
• Taxable loss: −$1,065
• Est. tax savings @ 24.0%: +$256
• After-tax cash flow: $1,232/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: Corry Area SD
• NCES district ID: 4206860
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $40,206
• Composite: 35.56/100
• National rank: #4904
• State rank: #332 of 539 in PA

Livability — Corry

• Score: 73/100
• State rank: #573
• US rank: #5430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corry, PA
• Population (ZIP): 10,555

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Iranian 7% Romanian 6% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.19%
• Current HPI: 213.9657
• 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

-19.3% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $125,000 GEBOR
• 2026-02-07 Price Changed $130,000 GEBOR
• 2026-01-29 Price Changed $144,900 GEBOR
• 2026-01-12 Listed $154,900 GEBOR

Property tax history

+2.0%/yr

Latest (2026): $2,086 · +1.2% YoY. Source: county tax records.