500 Clark St

Hooversville, PA 15936

$35,000B+

3 bd · 1.0 ba · 1,440 sqft · Built 1920 · SingleFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,227/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$549
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $236/mo
• Annual: $2,835/yr
• Cap rate: 30.18%
• Cash-on-cash: 85.30%
• DSCR: 4.80
• 1% rule: 3.50%
• Cash to close: $9,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• It's been on market 99 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($242 loan paydown + $3k appreciation (7.5% local appreciation)).
• Location reads 64/100 on livability (#1,187 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• North Star SD (rural): math 38% / reading 60% proficiency, ranked #209 of 539 in PA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Star Central El Sch (math 62% / reading 72%, grade B+, #202 of 1,518 statewide, top 15%, 376 students, 100% FRL); North Star East Ms (math 20% / reading 56%, grade F, #283 of 512 statewide, top 57%, 271 students, 100% FRL); North Star Hs (math 67%, 340 students, 70% FRL) — zoned schools average 90% FRL vs 43% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.5% of price; flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 78 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).
• Somerset County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $10k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.