600 Manor St

Marion Center, PA 15759

$17,000C-

4 bd · 1.0 ba · 1,320 sqft · Built 1915 · SingleFamily · Pending · 210 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,254/mo
• Mortgage (P&I): −$89
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $818/mo
• Annual: $9,816/yr
• Cap rate: 67.96%
• Cash-on-cash: 220.23%
• DSCR: 10.80
• 1% rule: 7.38%
• Cash to close: $4,760

Investor read

• This is a 4-bed/1.0-bath single-family listed at $17k.
• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $17k).
• It's been on market 210 days — a 12% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $15k (12.0% below list) — sets the bar for market timing.
• In year one you build about $695 of equity ($118 loan paydown + $577 appreciation (3.4% local appreciation)).
• Location reads 63/100 on livability (#1,291 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marion Center Area SD (rural): math 39% / reading 61% proficiency, ranked #184 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $56/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 44 units permitted in Indiana County in 2024 (0 in 5+ unit buildings).
• Indiana County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.