123 Adams St · Johnstown, PA 15901

$47,000

6 bd · None ba · 1,400 sqft · MultiFamily · 413 Days on market

Built 1970 3,920 sqft lot $34/sqft · 33% above area Est $35k · 33% over

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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).

• Cash flow +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment and rental opportunity. Major rehab needed! Three houses on one lot. Two make up a duplex, and the third is a single family 2/3 bedroom. Square footage is estimate, No other photos

Key facts

• 3,920 sq ft lot
• Built 1970
• Listed 412 days

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath multifamily listed at $47k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $47k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 45.8% vs local median 15.0% in Johnstown — 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.

Location & tenants

• Location reads 77/100 on livability (#363 in PA, #3,168 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• Greater Johnstown SD (urban): math 9% / reading 25% proficiency, ranked #509 of 539 in PA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 20 active listings in the ZIP; 64 units permitted in Cambria County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $325 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cambria County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 413 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 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 $8k; list at $47k implies a 488% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 413 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 5.37% ✓
• Cap rate: 45.77%
• Cash-on-cash: 141.00%
• DSCR: 7.27
• GRM: 1.6

CMA / ARV

• ARV (median comp): $35,396
• List price: $47,000
• Delta: 32.78%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.91×
• Total profit: $90,984
• Equity at exit: $7,008

10-year hold

• IRR: —
• Equity multiple: 16.69×
• Total profit: $206,506
• Equity at exit: $4,064

Cash invested: $13,160 (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 15901

• Home prices YoY: -5.5%
• Active inventory: 20
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,525 medium
• Mortgage (P&I): −$246
• Tax from tax record: −$182 /mo · $2,189/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $1,546

Break-even live

Break-even rent $568

Max offer price $47,000

Occupancy floor 34%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	3	$806
▸ 2× units	3	0	$1,720
Total (3 units)			$2,525

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $47,000 Active 413 DOM
2. 2026-06-18
   days on market $47,000 Active 412 DOM
3. 2026-06-17
   days on market $47,000 Active 411 DOM
4. 2026-06-16
   days on market $47,000 Active 410 DOM
5. 2026-06-15
   days on market $47,000 Active 409 DOM
6. 2026-06-14
   days on market $47,000 Active 407 DOM
7. 2026-06-12
   days on market $47,000 Active 406 DOM
8. 2026-06-09
   days on market $47,000 Active 403 DOM
9. 2026-06-08
   days on market $47,000 Active 402 DOM
10. 2026-06-07
    days on market $47,000 Active 401 DOM
11. 2026-06-05
    days on market $47,000 Active 398 DOM
12. 2026-06-02
    days on market $47,000 Active 396 DOM
13. 2026-06-01
    days on market $47,000 Active 395 DOM
14. 2026-05-31
    days on market $47,000 Active 394 DOM
15. 2026-05-30
    days on market $47,000 Active 393 DOM
16. 2026-04-26
    status Active 197-char remark

    Show marketing remark (197 chars)

    Great investment and rental opportunity. Major rehab needed! Three houses on one lot. Two make up a duplex, and the third is a single family 2/3 bedroom. Square footage is estimate, No other photos

17. 2026-04-24
    historical 197-char remark

    Show marketing remark (197 chars)

    Great investment and rental opportunity. Major rehab needed! Three houses on one lot. Two make up a duplex, and the third is a single family 2/3 bedroom. Square footage is estimate, No other photos

18. 2025-05-01
    listed $47,000 Active 197-char remark

    Show marketing remark (197 chars)

    Great investment and rental opportunity. Major rehab needed! Three houses on one lot. Two make up a duplex, and the third is a single family 2/3 bedroom. Square footage is estimate, No other photos

19. 2025-04-25
    historical $47,000 197-char remark

    Show marketing remark (197 chars)

    Great investment and rental opportunity. Major rehab needed! Three houses on one lot. Two make up a duplex, and the third is a single family 2/3 bedroom. Square footage is estimate, No other photos

20. 2007-04-17
    soldstatus $8,000

ⓘ 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: $2,189 · $182/mo
• Projected year-2 tax: $2,189 · $182/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,300
• − Mortgage interest: −$2,633
• − Property taxes: −$2,189
• − Insurance: −$235
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − Depreciation: −$1,367
• Taxable income: $19,028
• Est. tax owed @ 24.0%: −$4,567
• After-tax cash flow: $13,989/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: Greater Johnstown SD
• NCES district ID: 4210950
• Math proficiency: 9% ▼ -6.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $27,890
• Composite: 13.25/100
• National rank: #9550
• State rank: #509 of 539 in PA

Livability — Johnstown

• Score: 77/100
• State rank: #363
• US rank: #3168

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnstown, PA
• City population: 30,791
• Population (ZIP): 3,466

Population outlook (Cambria County) Hauer SSP2

• Today (2025): 122,754 people
• By 2030: 115,827 · -5.6%
• By 2040: 101,309 · -17.5%
• By 2050: 88,379 · -28.0%
• By 2075: 65,237 · -46.9%
• By 2100: 46,909 · -61.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 16% Hispanic / Latino 11% Two or more races 6% Native American 1%
• Hispanic origin (detail): Puerto Rican 8% Dominican 1%
• Common ancestry: Romanian 11% Slovak 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Cambria

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -40.4pp toward R · 2008: 0.7pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.3 2016: R+37.8 2012: R+17.8 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.41%
• Current HPI: 92.1212
• 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

+487.5% since first listed

5 events — show timeline

• 2026-04-26 Relisted — BRIGHT MLS
• 2026-04-24 Listing Removed — BRIGHT MLS
• 2025-05-01 Listed $47,000 BRIGHT MLS
• 2025-04-25 Coming Soon $47,000 BRIGHT MLS
• 2007-04-17 Sold (Public Records) $8,000 Public Records

Property tax history

+0.2%/yr

Latest (2026): $2,189 · +0.0% YoY. Source: county tax records.