15 Germania St

Galeton, PA 16922

$95,300C+

4 bd · 1.5 ba · 823 sqft · Built 1890 · Other · Active · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $961/mo
• Mortgage (P&I): −$500
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $81/mo
• Annual: $977/yr
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• 1% rule: 1.01%
• Cash to close: $26,684

Investor read

• This is a 4-bed/1.5-bath other listed at $95k.
• At list price, monthly cash flow is $81 ($977/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $95k).
• It's been on market 113 days — a 9% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (9.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($659 loan paydown + $6k appreciation (6.5% local appreciation)).
• Location reads 66/100 on livability (#1,038 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: schools D+, health & safety D, amenities F.
• Galeton Area SD (rural): math 35% / reading 50% proficiency, ranked #484 of 658 in PA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 24 units permitted in Potter County in 2024 (0 in 5+ unit buildings).
• Potter County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D-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.
• 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.