201 Hoover Rd

Wells, PA 16689

$110,000B+

4 bd · 1.0 ba · 1,288 sqft · Built 1900 · Other · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,250/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $219/mo
• Annual: $2,632/yr
• Cap rate: 9.29%
• Cash-on-cash: 10.71%
• DSCR: 1.48
• 1% rule: 1.14%
• Cash to close: $30,800

Investor read

• This is a 4-bed/1.0-bath other listed at $110k.
• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 48 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($761 loan paydown + $3k appreciation (2.4% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Forbes Road SD (rural): math 70% / reading 65% proficiency, ranked #109 of 658 in PA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Forbes Road El Sch (math 37% / reading 57%, grade D-, #737 of 1,518 statewide, top 52%, 213 students, 57% FRL); Forbes Road Jshs (math 44% / reading 44%, grade F, #196 of 437 statewide, top 47%, 141 students, 36% FRL).
• Zoned-school proficiency averages 46% at this address vs 68% district-wide (-22 pts) — the specific schools serving this property underperform the Forbes Road SD average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 18 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• Fulton County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $26k; list at $110k implies a 317% gain — meaningful room to come down on a strong offer.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.