309 1st

Johnsonburg, PA 15845

$31,500B+

3 bd · 1.5 ba · 9,999 sqft · Built — · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,255/mo
• Mortgage (P&I): −$165
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $702/mo
• Annual: $8,428/yr
• Cap rate: 33.05%
• Cash-on-cash: 95.56%
• DSCR: 5.25
• 1% rule: 3.98%
• Cash to close: $8,820

Investor read

• This is a 3-bed/1.5-bath single-family listed at $32k. Condition is rated poor.
• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• It's been on market 36 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($218 loan paydown + $3k appreciation (9.8% local appreciation)).
• Location reads 69/100 on livability (#825 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Johnsonburg Area SD (rural): math 40% / reading 60% proficiency, ranked #192 of 539 in PA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 4.2% of price.
• Market conditions: 4 active listings in the ZIP; 53 units permitted in Elk County in 2024 (0 in 5+ unit buildings).
• Elk County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen appliances — need replacement for functionality
• Major: bathroom fixtures — need replacement for functionality
• Major: roof — visible wear and tear
• Major: exterior siding — weathered and peeling
• Major: flooring — worn and uneven
• Major: interior walls/paint — dated and peeling