311 Pine St

Oil City, PA 16301

$24,500B

3 bd · 1.0 ba · 1,152 sqft · Built 1990 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$128
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $584/mo
• Annual: $7,009/yr
• Cap rate: 34.90%
• Cash-on-cash: 102.17%
• DSCR: 5.55
• 1% rule: 4.08%
• Cash to close: $6,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $24k.
• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• It's been on market 35 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• In year one you build about $702 of equity ($169 loan paydown + $533 appreciation (2.2% local appreciation)).
• Location reads 71/100 on livability (#704 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Oil City Area SD (town): math 20% / reading 46% proficiency, ranked #436 of 539 in PA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.3% of price.
• Market conditions: 53 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $6k; list at $24k implies a 277% gain — meaningful room to come down on a strong offer.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 34.9% vs local median 9.6% in Oil City — 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.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.