615 Bissell Ave · Oil City, PA 16301

$32,500

4 bd · 1.5 ba · 1,408 sqft · SingleFamily public records · 20 Days on market

Built 1900 4,356 sqft lot $23/sqft · 17% below area Est $39k · 17% under

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Why this score? — see what drove the C 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 +15.0/30.0
• ARV discount +14.9/15.0
• Appreciation +6.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This is your opportunity to own a two lot in Oil City! 615 Bissell and the right hand side lot (613 Bissell) are ready for their new owner after many lovely years with it's current owner. Charming features such as a brick fireplace and mantel and glass front built in shelf. Take advantage of the double lot and put in some off street parking! While the property could use some fixing, it's great for someone looking for a project.

Key facts

• Off street parking
• Brick fireplace
• Double lot

Tags

• BRICK FIREPLACE
• GLASS FRONT BUILT IN SHELF
• DOUBLE LOT
• OFF STREET PARKING

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water service; Public sewer
• Home design: 3-story building; Frame construction with vinyl siding
• Construction: Built with frame construction and vinyl siding
• Exterior features: Public water; Public sewer; Lot roughly 37 x 120

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (gas)
• Interior features: Resale condition

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $873 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $32k (1.5% below list) — sets the bar for market timing.
• Cap rate 38.5% vs local median 9.6% in Oil City — 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.

Location & tenants

• Location reads 71/100 on livability (#704 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Oil City Area SD (town): math 20% / reading 46% proficiency, ranked #436 of 539 in PA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $932 of equity ($225 loan paydown + $707 appreciation (2.2% local appreciation)).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,012 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 4.49% ✓
• Cap rate: 38.51%
• Cash-on-cash: 115.06%
• DSCR: 6.12
• GRM: 1.9

CMA / ARV

• ARV (median comp): $38,948
• List price: $32,500
• Delta: -16.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
413 Bissell Ave	0.16mi	4/1.5	1,532 (+9%)	8mo	$169,000	$110	71
217 Clarion St	0.12mi	3/1.0 (-1)	1,250 (-11%)	6mo	$68,900	$55	64
305 Plummer St	0.26mi	3/1.0 (-1)	1,358 (-4%)	15mo	$28,000	$21	62
526 Merritt St	0.07mi	3/1.0 (-1)	1,311 (-7%)	22mo	$25,000	$19	60
507 Hoffman Ave	0.12mi	4/2.0	1,554 (+10%)	22mo	$37,000	$24	57
276 Linden Ave	0.37mi	3/1.5 (-1)	1,268 (-10%)	10mo	$75,000	$59	53
309 Seeley Ave	0.32mi	3/1.0 (-1)	1,232 (-12%)	6mo	$16,000	$13	52
227 Cedar Ave	0.41mi	3/1.0 (-1)	1,344 (-4%)	19mo	$35,000	$26	50
220 Mylan St	0.44mi	3/1.0 (-1)	1,216 (-14%)	2mo	$7,500	$6	48
289 Cedar Ave	0.33mi	3/2.0 (-1)	1,597 (+13%)	13mo	$114,000	$71	44
272 Linden Ave	0.38mi	3/1.0 (-1)	1,560 (+11%)	16mo	$35,000	$22	44
16 Smithman St	0.74mi	3/2.0 (-1)	1,584 (+12%)	6mo	$115,000	$73	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.39×
• Total profit: $58,150
• Equity at exit: $13,129

10-year hold

• IRR: —
• Equity multiple: 15.40×
• Total profit: $131,002
• Equity at exit: $19,148

Cash invested: $9,100 (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 16301

• Home prices YoY: 1.0%
• Active inventory: 53
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$170
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $873

Break-even live

Break-even rent $355

Max offer price $32,500

Occupancy floor 35%

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: $8,125
• Closing costs: $975
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-01
   days on market $32,500 Active 20 DOM
2. 2026-05-31
   days on market $32,500 Active 19 DOM
3. 2026-05-12
   listed $32,500 Active 431-char remark

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,157 · $96/mo
• Projected year-2 tax: $1,157 · $96/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,513
• − Mortgage interest: −$1,821
• − Property taxes: −$1,157
• − Insurance: −$162
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$945
• Taxable income: $10,626
• Est. tax owed @ 24.0%: −$2,550
• After-tax cash flow: $7,921/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.

Schools (NCES district)

• District: Oil City Area SD
• NCES district ID: 4218090
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $37,451
• Composite: 27.39/100
• National rank: #6973
• State rank: #436 of 539 in PA

Livability — Oil City

• Score: 71/100
• State rank: #704
• US rank: #6931

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oil City, PA
• Population (ZIP): 15,067

Population outlook (Venango County) Hauer SSP2

• Today (2025): 48,827 people
• By 2030: 46,061 · -5.7%
• By 2040: 39,989 · -18.1%
• By 2050: 34,094 · -30.2%
• By 2075: 22,500 · -53.9%
• By 2100: 13,659 · -72.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Iranian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Venango

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -22.9pp toward R · 2008: -19.2pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+41.4 2016: R+42.4 2012: R+26.3 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 218.0124
• 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

2 events — show timeline

• 2026-06-02 Delisted — West Penn MLS
• 2026-05-12 Listed $32,500 West Penn MLS

Property tax history

+1.1%/yr

Latest (2026): $1,157 · -1.3% YoY. Source: county tax records.