376 Sherman Ave

Cumberland, PA 15351

$30,000B

3 bd · 1.0 ba · 1,056 sqft · Built 1919 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $961/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $552/mo
• Annual: $6,626/yr
• Cap rate: 28.38%
• Cash-on-cash: 78.89%
• DSCR: 4.51
• 1% rule: 3.20%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $30k. Condition is rated fair.
• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $30k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Carmichaels Area SD (rural): math 17% / reading 36% proficiency, ranked #465 of 539 in PA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Carmichaels Area El Ctr (math 22% / reading 37%, grade F, #1,125 of 1,518 statewide, top 75%, 444 students, 61% FRL); Carmichaels Area Ms (math 5% / reading 35%, grade F, #438 of 512 statewide, top 86%, 227 students, 52% FRL); Carmichaels Area Hs (math 37%, 285 students, 26% FRL) — zoned schools at 46% FRL track the district average.
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; lower-income renter base — watch delinquency; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -20% 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 28.4% vs local median 2.3% in Cumberland — 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.
• At $961/mo this rent would consume 65% of the median local household income ($18k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1919 — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — visible wear on roofline
• Major: siding — weathered siding
• Major: deck — rusty and in poor condition