137 Firehouse Rd

Salona, PA 17751

$159,000D-

3 bd · 1.5 ba · 1,248 sqft · Built 1975 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,132/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $-87/mo
• Annual: $-1,049/yr
• Cap rate: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.90
• 1% rule: 0.71%
• Cash to close: $44,520

Investor read

• This is a 3-bed/1.5-bath single-family listed at $159k.
• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (28.8% below list).
• It's been on market 47 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (28.8% 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Keystone Central SD (town): math 32% / reading 44% proficiency, ranked #384 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Mountain Ms (math 21% / reading 42%, grade F, #367 of 512 statewide, top 73%, 939 students, 55% FRL); Central Mountain Hs (math 77% / reading 75%, grade A-, #25 of 437 statewide, top 6%, 1,127 students, 24% FRL) — zoned schools at 40% FRL track the district average.
• Zoned-school proficiency averages 54% at this address vs 38% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Keystone Central SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 31 active listings in the ZIP; 44 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• Clinton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?