401 Garber St

Hollidaysburg, PA 16648

$62,000C+

2 bd · 1.0 ba · 804 sqft · Built 1880 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $800/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$168
• Net cashflow: $150/mo
• Annual: $1,805/yr
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• 1% rule: 1.29%
• Cash to close: $17,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $62k.
• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $62k).
• It's been on market 87 days — a 6% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#184 in PA, #1,549 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Hollidaysburg Area SD (suburban): math 45% / reading 63% proficiency, ranked #129 of 539 in PA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.5% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $52k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.