1994 Route 287 · Morris, PA 16938

$199,900

5 bd · 2.0 ba · 4,842 sqft · MultiFamily · 17 Days on market

Built 1901 Fair condition 0.63 ac lot

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +6.0/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investment Opportunity! This unique property features a house with 5 bedrooms and 1 bathroom. The parsonage features a full kitchen and meeting room. The church side comes complete with the pews and a vision to renovate! Live in one side and rent the other or rent the whole thing use as an investment. Bring your creative mind to this property!

Key facts

• Full kitchen
• Meeting room
• 0.63 acre lot

Tags

• FULL KITCHEN
• MEETING ROOM

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Private well water
• Home design: Residential income property; Multi-family
• Construction: Vinyl siding; Wood siding
• Exterior features: Metal roof; Shingle roof

Interior

• Heating & cooling: Baseboard heating; Electric heating; Hot water heating; Oil heating; Propane heating
• Interior features: Has heating

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Southern Tioga SD (rural): math 25% / reading 45% proficiency, ranked #421 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 32 units permitted in Tioga County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.0% local appreciation)).
• Tioga County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.84%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.74×
• Total profit: $41,419
• Equity at exit: $78,475

10-year hold

• IRR: 16.4%
• Equity multiple: 3.18×
• Total profit: $122,288
• Equity at exit: $112,722

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16938

• Home prices YoY: 0.8%
• Active inventory: 6
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,389 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $439

Break-even live

Break-even rent $1,833

Max offer price $199,900

Occupancy floor 77%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,304
1× unit	2	1	$1,085
Total (2 units)			$2,389

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $199,900 Active 17 DOM
2. 2026-06-17
   days on market $199,900 Active 16 DOM
3. 2026-06-16
   days on market $199,900 Active 15 DOM
4. 2026-06-15
   days on market $199,900 Active 14 DOM
5. 2026-06-13
   days on market $199,900 Active 12 DOM
6. 2026-06-12
   days on market $199,900 Active 11 DOM
7. 2026-06-09
   days on market $199,900 Active 8 DOM
8. 2026-06-08
   days on market $199,900 Active 7 DOM
9. 2026-06-08
   days on market $199,900 Active 6 DOM
10. 2026-06-07
    days on market $199,900 Active 5 DOM
11. 2026-06-04
    days on market $199,900 Active 2 DOM
12. 2026-06-01
    remarks 345-char remark
13. 2026-06-01
    listed $199,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,668
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,797
• − Repairs & maintenance: −$2,293
• − Management: −$2,293
• − Depreciation: −$5,815
• Taxable income: $2,273
• Est. tax owed @ 24.0%: −$545
• After-tax cash flow: $4,727/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Extensive rehab

This multi-family property requires extensive repairs and renovations to bring it up to a fair condition. Immediate attention to the exterior, landscaping, and kitchen is crucial to increase its resale and rental value.

Repairs flagged

• Major siding — Severe weathering and peeling.
• Major paint — Peeling and chipping paint.
• Major landscaping — Overgrown vegetation and unkempt lawn.
• Major kitchen appliances — Outdated and cluttered appliances.
• Major flooring — Worn carpet in living areas.
• Major interior walls — Worn wallpaper and paint in living areas.

Value-add opportunities

• Both exterior painting and siding repair — Enhances curb appeal and property value.
• Both landscaping and lawn maintenance — Improves curb appeal and property value.
• Both kitchen renovation — Modernizes the kitchen and increases functionality.
• Both HVAC system replacement — Improves comfort and energy efficiency, enhancing property value.
• Both interior wall and paint repair — Enhances the interior appearance and increases property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and peeling.	Major	$15,000–50,000
paint · Peeling and chipping paint.	Major	$15,000–50,000
landscaping · Overgrown vegetation and unkempt lawn.	Major	$15,000–50,000
kitchen appliances · Outdated and cluttered appliances.	Major	$15,000–50,000
flooring · Worn carpet in living areas.	Major	$15,000–50,000
interior walls · Worn wallpaper and paint in living areas.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior painting and siding repair — Enhances curb appeal and property value. ↑
• Both landscaping and lawn maintenance — Improves curb appeal and property value. ↑
• Both kitchen renovation — Modernizes the kitchen and increases functionality. ↑
• Both HVAC system replacement — Improves comfort and energy efficiency, enhancing property value. ↑
• Both interior wall and paint repair — Enhances the interior appearance and increases property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Southern Tioga SD
• NCES district ID: 4222370
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $44,260
• Composite: 29.72/100
• National rank: #6451
• State rank: #421 of 539 in PA

Livability — Morris

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 786

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 40,253 people
• By 2030: 38,795 · -3.6%
• By 2040: 35,376 · -12.1%
• By 2050: 32,081 · -20.3%
• By 2075: 24,341 · -39.5%
• By 2100: 17,180 · -57.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Romanian 4% Polish 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Tioga

• 2024 margin: Solid R (+51.8) · D 23.6% · R 75.4% · Other 1.0%
• 2008→2024 swing: -24.3pp toward R · 2008: -27.4pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+51.2 2016: R+53.6 2012: R+34.8 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.97%
• Current HPI: 264.4214
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+14.2% since first listed

2 events — show timeline

• 2026-06-01 Listed $199,900 NMPA
• 2024-12-09 Listed $175,000 NMPA