457 Montmorenci Ave

Ridgway, PA 15853

$179,000D-

1 bd · 2.0 ba · 1,581 sqft · Built 1950 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,007/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $-410/mo
• Annual: $-4,925/yr
• Cap rate: 3.54%
• Cash-on-cash: -9.83%
• DSCR: 0.56
• 1% rule: 0.56%
• Cash to close: $50,120

Investor read

• This is a 1-bed/2.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $-410 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (40.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (43.8% below list).
• It's been on market 34 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (43.8% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#1,032 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, schools A; Watch: health & safety D, amenities F, commute F.
• Ridgway Area SD (town): math 53% / reading 68% proficiency, ranked #79 of 539 in PA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 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.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.