204 South St

Athens, PA 18810

$158,000C-

4 bd · 2.0 ba · 3,098 sqft · Built 1900 · SingleFamily · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,398/mo
• Mortgage (P&I): −$829
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $46/mo
• Annual: $549/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• 1% rule: 0.88%
• Cash to close: $44,240

Investor read

• This is a 4-bed/2.0-bath single-family listed at $158k.
• At list price, monthly cash flow is $46 ($549/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 $140k (11.5% below list).
• It's been on market 61 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (11.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#1,024 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: schools C-, employment D+, amenities F.
• Athens Area SD (town): math 38% / reading 58% proficiency, ranked #227 of 539 in PA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 66 units permitted in Bradford County in 2024 (0 in 5+ unit buildings).
• Bradford County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 14y 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.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.