916 Coal St

Republic, PA 15475

$22,000B

2 bd · 1.0 ba · 980 sqft · Built 1920 · MultiFamily · Active · 247 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $905/mo
• Mortgage (P&I): −$115
• Tax + insurance: −$38
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $561/mo
• Annual: $6,738/yr
• Cap rate: 36.92%
• Cash-on-cash: 109.38%
• DSCR: 5.87
• 1% rule: 4.11%
• Cash to close: $6,160

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $22k.
• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($905 rent vs $22k).
• It's been on market 247 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $152 of loan paydown is wiped out by about $362 of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#1,126 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Brownsville Area SD (rural): math 17% / reading 34% proficiency, ranked #472 of 539 in PA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.6% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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 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.