141 W 3rd St · Waterford, PA 16441

$175,000

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 38 Days on market

Built 1860 0.29 ac lot $142/sqft · 10% below area Est $194k · 10% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +12.0/15.0
• Cash flow +10.5/30.0
• Schools +5.1/10.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fall in love with this charming two-story gem nestled in the heart of Waterford! This 3-bedroom, 1.5-bath home offers the perfect blend of character and convenience. Need more space? The dedicated office provides an easy transition into a 4th bedroom. Enjoy total peace of mind with extensive recent updates, including central air, a new furnace, updated flooring, and upgraded electrical. Outside, you’ll find convenient off-street parking and spacious storage sheds—perfect for your tools, toys, and yard items. Move in and start making memories!

Key facts

• New furnace
• Upgraded electrical
• Updated flooring

Tags

• DEDICATED OFFICE
• CENTRAL AIR
• NEW FURNACE
• UPDATED FLOORING
• UPGRADED ELECTRICAL
• OFF-STREET PARKING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels / 2 stories; Residential property in R-1 zoning
• Construction: Asbestos construction material
• Exterior features: Level lot; Paved road access; Asphalt roof

Interior

• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced-air heating
• Interior features: Hardwood and laminate flooring; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (24.5% below list).
• Recommended offer: $132k (24.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 85/100 on livability (#79 in PA, #576 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute D-.
• Fort Leboeuf SD (rural): math 52% / reading 68% proficiency, ranked #77 of 539 in PA (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 40 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $31k; list at $175k implies a 465% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,050 (24.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• GRM: 11.0

CMA / ARV

• ARV (median comp): $194,379
• List price: $175,000
• Delta: -9.97%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 W 2nd St	0.15mi	2/1.0 (-1)	1,130 (-8%)	4mo	$120,000	$106	71
319 Chestnut St	0.41mi	3/1.0	1,227 (-0%)	20mo	$185,000	$151	63
248 E 4th St	0.48mi	3/2.5	1,285 (+4%)	3mo	$260,000	$202	62
754 Cherry St	0.53mi	3/1.0	1,232 (0%)	19mo	$182,000	$148	59
860 Cherry St	0.65mi	3/2.0	1,066 (-14%)	12mo	$260,000	$244	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.30×
• Total profit: $-34,180
• Equity at exit: $26,093

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-37,333
• Equity at exit: $15,131

Cash invested: $49,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16441

• Home prices YoY: -33.2%
• Active inventory: 40
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$144 /mo · $1,723/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-91

Break-even live

Break-even rent $1,436

Max offer price $158,924

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W 2nd St Waterford, PA	3.0	1.5	1200	$1,300	$1.08	43d	1	0.07mi
423 W 3rd St Unit 4 Waterford, PA	2.0	1.0	1150	$1,400	$1.22	43d	1	0.37mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $175,000 Pending 38 DOM
2. 2026-06-02
   days on market $175,000 Active 35 DOM
3. 2026-06-01
   days on market $175,000 Active 34 DOM
4. 2026-05-31
   days on market $175,000 Active 33 DOM
5. 2026-05-30
   days on market $175,000 Active 32 DOM
6. 2026-04-28
   listed $195,000 Active 560-char remark
7. 1995-11-14
   soldstatus $31,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,723 · $144/mo
• Projected year-2 tax: $2,244 · $187/mo
• Expected delta: +$521/yr (+$43/mo · 30.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,846
• − Mortgage interest: −$9,803
• − Property taxes: −$1,723
• − Insurance: −$875
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$5,091
• Taxable loss: −$4,181
• Est. tax savings @ 24.0%: +$1,003
• After-tax cash flow: $-89/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fort Leboeuf SD
• NCES district ID: 4209990
• Math proficiency: 52% ▼ -12.00%
• Reading proficiency: 68% ▼ -6.00%
• Median HH income: $54,607
• Composite: 51.46/100
• National rank: #1725
• State rank: #77 of 539 in PA

Livability — Waterford

• Score: 85/100
• State rank: #79
• US rank: #576

Category grades

Amenities F Commute D- Cost of living A+ Crime A+ Employment C+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterford, PA
• Population (ZIP): 9,485

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 11% Serbian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.87%
• Current HPI: 245.5495
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+464.5% since first listed

4 events — show timeline

• 2026-06-05 Pending — GEBOR
• 2026-05-21 Price Changed $175,000 GEBOR
• 2026-04-28 Listed $195,000 GEBOR
• 1995-11-14 Sold (Public Records) $31,000 Public Records

Property tax history

+2.9%/yr

Latest (2026): $1,723 · +4.3% YoY. Source: county tax records.