48 Locust St

Ellsworth, PA 15331

$47,500A-

3 bd · 1.5 ba · 810 sqft · Built 1909 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $975/mo
• Mortgage (P&I): −$249
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $437/mo
• Annual: $5,248/yr
• Cap rate: 17.34%
• Cash-on-cash: 39.46%
• DSCR: 2.76
• 1% rule: 2.05%
• Cash to close: $13,300

Investor read

• This is a 3-bed/1.5-bath single-family listed at $48k.
• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $48k).
• It's been on market 44 days — a 3% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (3.0% below list) — sets the bar for market timing.
• In year one you build about $454 of equity ($328 loan paydown + $126 appreciation (0.3% local appreciation)).
• Location reads 65/100 on livability (#1,172 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Bentworth SD (rural): math 35% / reading 68% proficiency, ranked #164 of 539 in PA (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bentworth El Ctr (math 52% / reading 77%, grade B, #249 of 1,518 statewide, top 19%, 378 students, 99% FRL); Bentworth Ms (math 23% / reading 64%, grade D, #208 of 512 statewide, top 41%, 327 students, 100% FRL); Bentworth Shs (math 64%, 344 students, 74% FRL) — zoned schools average 91% FRL vs 37% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 9y 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.
• Current owner paid $40k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1909 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.