15 Flat St

Mildred, PA 18628

$64,900B

6 bd · 1.0 ba · 2,560 sqft · Built 1905 · SingleFamily · Pending · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,477/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$310
• Net cashflow: $692/mo
• Annual: $8,301/yr
• Cap rate: 20.11%
• Cash-on-cash: 49.35%
• DSCR: 3.20
• 1% rule: 2.28%
• Cash to close: $18,172

Investor read

• This is a 6-bed/1.0-bath single-family listed at $65k.
• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 45 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• In year one you build about $284 of equity ($449 loan paydown + $-165 appreciation (-0.2% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Sullivan County SD (rural): math 30% / reading 46% proficiency, ranked #387 of 539 in PA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sullivan Co El Sch (math 32% / reading 47%, grade F, #947 of 1,518 statewide, top 65%, 329 students, 51% FRL); Sullivan Co Jshs (math 27% / reading 47%, grade F, #289 of 437 statewide, top 67%, 287 students, 39% FRL).
• Watch-outs: flood insurance adds $56/mo; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 12 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• Sullivan County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 10y ago 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 (-0.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.