110 Van Ness St

Sykesville, PA 15865

$114,000D+

3 bd · 2.0 ba · 695 sqft · Built 1927 · SingleFamily · Active · 318 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $891/mo
• Mortgage (P&I): −$598
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $-28/mo
• Annual: $-332/yr
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• 1% rule: 0.78%
• Cash to close: $31,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $114k.
• At list price, monthly cash flow is $-28 ($-332/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (21.8% below list).
• It's been on market 318 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (21.8% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($788 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 60/100 on livability (#1,486 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, amenities F.
• Dubois Area SD (town): math 38% / reading 55% proficiency, ranked #262 of 539 in PA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dubois Area Ms (math 26% / reading 51%, grade F, #275 of 512 statewide, top 55%, 1,062 students, 100% FRL); Dubois Area Shs (math 72% / reading 24%, grade D, #153 of 437 statewide, top 37%, 924 students, 100% FRL) — zoned schools average 100% FRL vs 45% district-wide (55 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 41 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $16k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $114k implies a 115% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, 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 318 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.