24 N Mill St

New Salem, PA 15468

$69,900A-

2 bd · 1.0 ba · 1,472 sqft · Built 1900 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $320/mo
• Annual: $3,834/yr
• Cap rate: 11.78%
• Cash-on-cash: 19.59%
• DSCR: 1.87
• 1% rule: 1.42%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $70k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $806 of equity ($483 loan paydown + $323 appreciation (0.5% local appreciation)).
• Location reads 66/100 on livability (#1,075 in PA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Uniontown Area SD (suburban): math 27% / reading 49% proficiency, ranked #392 of 539 in PA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 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.
• Current owner paid $34k; list at $70k implies a 106% gain — meaningful room to come down on a strong offer.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — 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 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 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.