371 Garner Run Rd

Washington, PA 15370

$50,000B+

3 bd · 1.0 ba · 792 sqft · Built 1980 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,147/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $486/mo
• Annual: $5,837/yr
• Cap rate: 19.56%
• Cash-on-cash: 47.39%
• DSCR: 3.11
• 1% rule: 2.29%
• Cash to close: $14,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($346 loan paydown + $1k appreciation (2.2% local appreciation)).
• Location reads 85/100 on livability (#77 in PA, #558 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D-.
• Central Greene SD (town): math 24% / reading 40% proficiency, ranked #434 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waynesburg Central El School (math 21% / reading 43%, grade F, #1,094 of 1,518 statewide, top 73%, 765 students, 1% FRL); Miller Ms (math 14% / reading 37%, grade F, #414 of 512 statewide, top 81%, 229 students, 2% FRL); Waynesburg Central Hs (math 52% / reading 24%, grade F, #281 of 437 statewide, top 65%, 500 students, 1% FRL) — zoned schools average 1% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 41 active listings in the ZIP; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y 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.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 19.6% vs local median 2.9% in Washington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.