165 W Main St

Westfield, PA 16950

$139,000B+

9 bd · 9.0 ba · 2,880 sqft · Built 1901 · MultiFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,314/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$228
• HOA: −$0
• Vac / Maint / Mgmt: −$696
• Net cashflow: $1,661/mo
• Annual: $19,929/yr
• Cap rate: 20.63%
• Cash-on-cash: 51.21%
• DSCR: 3.28
• 1% rule: 2.38%
• Cash to close: $38,920

Investor read

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $139k.
• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $554/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($961 loan paydown + $4k appreciation (2.9% local appreciation)).
• Location reads 64/100 on livability (#1,184 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools D, health & safety D, amenities F.
• Northern Tioga SD (rural): math 34% / reading 54% proficiency, ranked #301 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 32 units permitted in Tioga County in 2024 (0 in 5+ unit buildings).
• Tioga County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1901 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.