1773 Spruce St

Madera, PA 16661

$19,900C-

3 bd · 1.0 ba · 876 sqft · Built 1880 · Other · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,015/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$51
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $647/mo
• Annual: $7,766/yr
• Cap rate: 45.32%
• Cash-on-cash: 139.38%
• DSCR: 7.20
• 1% rule: 5.10%
• Cash to close: $5,572

Investor read

• This is a 3-bed/1.0-bath other listed at $20k.
• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 55 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• In year one you build about $867 of equity ($138 loan paydown + $729 appreciation (3.7% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Moshannon Valley SD (rural): math 30% / reading 47% proficiency, ranked #382 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.5% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 99 units permitted in Clearfield County in 2024 (10 in 5+ unit buildings).
• Clearfield County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $10k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.