3743 Pitt St

Schellsburg, PA 15559

$185,000C-

4 bd · 1.0 ba · 2,658 sqft · Built 1815 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,559/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$294
• HOA: −$0
• Vac / Maint / Mgmt: −$327
• Net cashflow: $-32/mo
• Annual: $-390/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• 1% rule: 0.84%
• Cash to close: $51,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $-32 ($-390/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (15.7% below list).
• It's been on market 44 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $156k (15.7% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.0% local appreciation)).
• Location reads 65/100 on livability (#1,154 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, amenities F, commute F.
• Chestnut Ridge SD (rural): math 41% / reading 60% proficiency, ranked #183 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1815 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 54 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).
• Bedford County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 23y 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 $83k; list at $185k implies a 123% gain — meaningful room to come down on a strong offer.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1815 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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 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.