8050 Simit Ln

Fairview, PA 16417

$330,000C-

3 bd · 2.0 ba · 1,750 sqft · Built 1992 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,885/mo
• Mortgage (P&I): −$1,731
• Tax + insurance: −$529
• HOA: −$0
• Vac / Maint / Mgmt: −$606
• Net cashflow: $20/mo
• Annual: $241/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• 1% rule: 0.87%
• Cash to close: $92,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $330k.
• At list price, monthly cash flow is $20 ($241/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (12.6% below list).
• It's been on market 53 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $288k (12.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#123 in PA, #963 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Fairview SD (rural): math 54% / reading 74% proficiency, ranked #42 of 539 in PA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $18k; list at $330k implies a 1733% gain — meaningful room to come down on a strong offer.
• Cap rate 6.4% vs local median 2.0% in Fairview — 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

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• 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?
• 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.