763 E Howard St · Bellefonte, PA 16823

$199,900

2 bd · 1.0 ba · 672 sqft · Other public records · 8 Days on market

Built 1968 0.28 ac lot

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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 +13.9/30.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Schools +4.5/10.0
• DSCR +4.2/10.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Loaded with charm. Feels brand new completely redone. Unfinished basement offers additional living space. Great one floor living.

Key facts

• Propane stove
• Electric fan heater
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• LARGE REAR DECK
• MOUNTAIN VIEWS
• UNFINISHED WALK-UP BASEMENT
• PROPANE STOVE
• ELECTRIC FAN HEATER

Property features AI

Exterior

• Parking: Driveway with shared driveway access
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached structure; Not located in a federal flood zone; Fee simple ownership
• Construction: Block construction; Block foundation; Shingle roof
• Exterior features: Deck(s); Shed

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level; One half bathroom on a lower level
• Heating & cooling: Forced air heating; Propane (owned) fuel; Central air conditioning; Electric hot water
• Interior features: Eat-in kitchen; Full, unfinished basement
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $22 ($269/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (17.1% below list).
• Recommended offer: $166k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.0% in Bellefonte — 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 92/100 on livability (#10 in PA, #37 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities D+.
• Bellefonte Area SD (town): math 48% / reading 57% proficiency, ranked #140 of 539 in PA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bellefonte El Sch (math 47% / reading 52%, grade D, #654 of 1,518 statewide, top 47%, 335 students, 47% FRL); Bellefonte Area Ms (math 31% / reading 52%, grade F, #234 of 512 statewide, top 47%, 576 students, 28% FRL); Bellefonte Area Hs (math 72%, 847 students, 16% FRL).
• Market conditions: 200 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 399 units permitted in Centre County in 2024 (44 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 $6k of value loss. Plan a longer hold.
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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 $104k; list at $200k implies a 92% gain — meaningful room to come down on a strong offer.

Recommended offer $165,697 (17.1% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.83% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-30,998
• Equity at exit: $29,806

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-25,290
• Equity at exit: $17,284

Cash invested: $55,972 (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 16823

• Active inventory: 200
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$155 /mo · $1,860/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $22

Break-even live

Break-even rent $1,629

Max offer price $199,900

Occupancy floor 94%

Sensitivity live

Price	-10% $136	-5% $79	+0% $22	+5% $-34	+10% $-91
Rent	-10% $-108	-5% $-43	+0% $22	+5% $88	+10% $153
Rate	-1.0pp $123	-0.5pp $73	base $22	+0.5pp $-29	+1.0pp $-82

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 E Howard St Bellefonte, PA	1.0–2.0	1.0	525	$1,250	$2.38	45d	2	0.69mi
313 E Bishop St Bellefonte, PA	1.0–2.0	1.0	700	$1,225	$1.75	45d	3	0.73mi
254 N Allegheny St Unit Mansion 1 Bellefonte, PA	2.0	2.0	750	$2,695	$3.59	45d	1	0.81mi
254 N Allegheny St Unit 12 Bellefonte, PA	2.0	1.0	750	$2,250	$3.00	45d	1	0.81mi

Listing history 5 events

1. 2026-05-18
   listed $199,900 Active
2. 2008-06-12
   soldstatus $103,900 129-char remark

   Show marketing remark (129 chars)

   Loaded with charm. Feels brand new completely redone. Unfinished basement offers additional living space. Great one floor living.

3. 2008-06-12
   soldstatus $103,900

   Show marketing remark (129 chars)

   Loaded with charm. Feels brand new completely redone. Unfinished basement offers additional living space. Great one floor living.

4. 2008-06-12
   soldstatus $103,900

   Show marketing remark (129 chars)

   Loaded with charm. Feels brand new completely redone. Unfinished basement offers additional living space. Great one floor living.

5. 2008-05-05
   listed $103,900 129-char remark

   Show marketing remark (129 chars)

   Loaded with charm. Feels brand new completely redone. Unfinished basement offers additional living space. Great one floor living.

ⓘ 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: $1,860 · $155/mo
• Projected year-2 tax: $2,509 · $209/mo
• Expected delta: +$649/yr (+$54/mo · 34.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,884
• − Mortgage interest: −$11,198
• − Property taxes: −$1,860
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$5,815
• Taxable loss: −$3,170
• Est. tax savings @ 24.0%: +$761
• After-tax cash flow: $1,030/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: Bellefonte Area SD
• NCES district ID: 4203240
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 57% ▼ -8.00%
• Median HH income: $54,460
• Composite: 45.25/100
• National rank: #2662
• State rank: #140 of 539 in PA

Livability — Bellefonte

• Score: 92/100
• State rank: #10
• US rank: #37

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellefonte, PA
• County: Centre County · 99,000 people
• City population: 29,126
• Metro: State College, PA
• Population (ZIP): 29,126
• Household income: $76,245
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 855.0

Population outlook (Centre County) Hauer SSP2

• Today (2025): 177,113 people
• By 2030: 185,138 · +4.5%
• By 2040: 196,009 · +10.7%
• By 2050: 205,070 · +15.8%
• By 2075: 217,575 · +22.8%
• By 2100: 230,649 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Centre

• 2024 margin: Toss-up / Even · D 50.9% · R 48.1% · Other 1.0%
• 2008→2024 swing: -9.0pp toward R · 2008: 11.8pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+4.8 2016: D+1.9 2012: R+0.0 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.54%
• Current HPI: 202.598
• Rent YoY: —
• Metro: State College, PA
• 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

+92.4% since first listed

5 events — show timeline

• 2026-05-18 Listed $199,900 BRIGHT MLS
• 2008-06-12 Sold (Public Records) $103,900 Public Records
• 2008-06-12 Sold (Public Records) $103,900 Public Records
• 2008-06-12 Sold (MLS) $103,900 BRIGHT MLS
• 2008-05-05 Listed $103,900 BRIGHT MLS

Property tax history

+1.6%/yr

Latest (2026): $1,860 · +1.8% YoY. Source: county tax records.