348 Hollow Rd · Washington, PA 16218

$87,500

2 bd · 1.0 ba · 1,152 sqft · Other public records · 93 Days on market

Built 1970 1.29 ac lot

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Why this score? — see what drove the B- 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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Endless potential in the quiet countryside of Cowansville! This 3-bedroom, 1-bath fixer-upper is ready for your vision. Nestled in scenic Armstrong County, this property offers the charm of rural living with the chance to create something truly your own. Inside, you’ll find a functional layout with three bedrooms and a full bath, providing a solid foundation for renovation, along with the opportunity to build onto the existing structure and expand the home to suit your needs. Outside, enjoy wide-open surroundings, fresh air, and the tranquility that only country living can provide. Bring your ideas and tools—this is your chance to turn potential into reality in a peaceful Armstrong County setting!

Key facts

• Country living
• Functional layout
• 1.29 acre lot

Tags

• FUNCTIONAL LAYOUT
• WIDE-OPEN SURROUNDINGS
• COUNTRY LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $88k.

Deal economics

• At list price, monthly cash flow is $125 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $80k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.8% in Washington — 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 85/100 on livability (#77 in PA, #558 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D-.
• Armstrong SD (rural): math 38% / reading 58% proficiency, ranked #233 of 539 in PA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 58 units permitted in Armstrong County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($605 loan paydown + $4k appreciation (4.8% local appreciation)).
• Armstrong County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $12k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $88k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,625 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 2.12×
• Total profit: $27,386
• Equity at exit: $48,766

10-year hold

• IRR: 18.0%
• Equity multiple: 4.12×
• Total profit: $76,415
• Equity at exit: $83,494

Cash invested: $24,500 (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 16218

• Home prices YoY: 3.2%
• Active inventory: 4
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$459
• Tax from tax record: −$104 /mo · $1,247/yr
• Insurance: −$36
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $125

Break-even live

Break-even rent $843

Max offer price $87,500

Occupancy floor 83%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $87,500 Active 93 DOM
2. 2026-06-17
   days on market $87,500 Active 92 DOM
3. 2026-06-16
   days on market $87,500 Active 91 DOM
4. 2026-06-15
   days on market $87,500 Active 90 DOM
5. 2026-06-13
   days on market $87,500 Active 88 DOM
6. 2026-06-12
   days on market $87,500 Active 87 DOM
7. 2026-06-09
   days on market $87,500 Active 84 DOM
8. 2026-06-08
   days on market $87,500 Active 83 DOM
9. 2026-06-08
   days on market $87,500 Active 82 DOM
10. 2026-06-07
    days on market $87,500 Active 81 DOM
11. 2026-06-04
    days on market $87,500 Active 78 DOM
12. 2026-06-02
    days on market $87,500 Active 77 DOM
13. 2026-06-01
    days on market $87,500 Active 76 DOM
14. 2026-05-31
    days on market $87,500 Active 75 DOM
15. 2026-04-13
    price $87,500 718-char remark

    Show marketing remark (718 chars)

    Endless potential in the quiet countryside of Cowansville! This 3-bedroom, 1-bath fixer-upper is ready for your vision. Nestled in scenic Armstrong County, this property offers the charm of rural living with the chance to create something truly your own. Inside, you’ll find a functional layout with three bedrooms and a full bath, providing a solid foundation for renovation, along with the opportunity to build onto the existing structure and expand the home to suit your needs. Outside, enjoy wide-open surroundings, fresh air, and the tranquility that only country living can provide. Bring your ideas and tools—this is your chance to turn potential into reality in a peaceful Armstrong County setting!

16. 2026-03-16
    listed $99,348 Active 718-char remark

    Show marketing remark (718 chars)

    Endless potential in the quiet countryside of Cowansville! This 3-bedroom, 1-bath fixer-upper is ready for your vision. Nestled in scenic Armstrong County, this property offers the charm of rural living with the chance to create something truly your own. Inside, you’ll find a functional layout with three bedrooms and a full bath, providing a solid foundation for renovation, along with the opportunity to build onto the existing structure and expand the home to suit your needs. Outside, enjoy wide-open surroundings, fresh air, and the tranquility that only country living can provide. Bring your ideas and tools—this is your chance to turn potential into reality in a peaceful Armstrong County setting!

17. 2024-03-05
    listed $109,900 Active 388-char remark

    Show marketing remark (388 chars)

    Welcome to 348 Hollow Road. Enjoy peaceful country living in this 3 bedroom, 1 bath ranch home in Armstrong school district. . Relax on the covered front patio and listen to the stocked stream that runs through your property. Watch the wildlife that is often seen in the yard. Inside you will enjoy the open, single level living space. Bring your creativity and make this house your home.

18. 2020-05-13
    historical Withdrawn
19. 2019-09-14
    status Active
20. 2019-09-04
    status Under Contract
21. 2019-08-30
    listed $74,000 Active
22. 1994-08-01
    soldstatus $29,500

ⓘ 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: $1,247 · $104/mo
• Projected year-2 tax: $1,315 · $110/mo
• Expected delta: +$68/yr (+$6/mo · 5.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,005
• − Mortgage interest: −$4,901
• − Property taxes: −$1,247
• − Insurance: −$1,235
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,545
• Taxable income: $155
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $1,458/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: Armstrong SD
• NCES district ID: 4202590
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 58% ▼ -6.00%
• Median HH income: $43,333
• Composite: 40.41/100
• National rank: #3729
• State rank: #233 of 539 in PA

Livability — Washington

• Score: 85/100
• State rank: #77
• US rank: #558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 50,348
• Population (ZIP): 1,138

Population outlook (Armstrong County) Hauer SSP2

• Today (2025): 62,513 people
• By 2030: 59,579 · -4.7%
• By 2040: 52,890 · -15.4%
• By 2050: 45,904 · -26.6%
• By 2075: 32,023 · -48.8%
• By 2100: 20,415 · -67.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 4% Serbian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Armstrong

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.2%
• 2008→2024 swing: -28.6pp toward R · 2008: -24.6pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+52.3 2016: R+52.0 2012: R+37.2 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.85%
• Current HPI: 155.4168
• 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

+196.6% since first listed

8 events — show timeline

• 2026-04-13 Price Changed $87,500 West Penn MLS
• 2026-03-16 Listed $99,348 West Penn MLS
• 2024-03-05 Listed $109,900 West Penn MLS
• 2020-05-13 Delisted — West Penn MLS
• 2019-09-14 Relisted — West Penn MLS
• 2019-09-04 Pending — West Penn MLS
• 2019-08-30 Listed $74,000 West Penn MLS
• 1994-08-01 Sold (Public Records) $29,500 Public Records

Property tax history

+0.9%/yr

Latest (2026): $1,247 · +0.0% YoY. Source: county tax records.