298 Telescope Rd

Ulysses, PA 16948

$70,000B

3 bd · 1.0 ba · 866 sqft · Built 1910 · Other · Active · 152 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $962/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $287/mo
• Annual: $3,444/yr
• Cap rate: 11.21%
• Cash-on-cash: 17.57%
• DSCR: 1.78
• 1% rule: 1.37%
• Cash to close: $19,600

Investor read

• This is a 3-bed/1.0-bath other listed at $70k. Condition is rated poor.
• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($962 rent vs $70k).
• It's been on market 152 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.3% local appreciation)).
• Location reads 57/100 on livability (#1,616 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, health & safety D, schools D-.
• Northern Potter SD (rural): math 29% / reading 45% proficiency, ranked #404 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 24 units permitted in Potter County in 2024 (0 in 5+ unit buildings).
• Potter County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y 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.
• Current owner paid $50k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• Crime grade is D 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen appliances — outdated and non-functional
• Major: bathroom fixtures — outdated and non-functional
• Major: exterior siding — weathered and damaged
• Major: interior walls — peeling paint and exposed insulation
• Major: roof — visible damage
• Major: windows — broken panes