Cr-38

Oswayo, PA 14708

$64,900B-

2 bd · 1.0 ba · 752 sqft · Built 2001 · SingleFamily · Pending · 134 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $855/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $136/mo
• Annual: $1,627/yr
• Cap rate: 8.80%
• Cash-on-cash: 8.95%
• DSCR: 1.40
• 1% rule: 1.32%
• Cash to close: $18,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $65k.
• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $65k).
• It's been on market 134 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#1,545 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime C-, health & safety D, amenities F.
• Wellsville Central School District (town): math 42% / reading 53% proficiency, ranked #442 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wellsville Elementary School (math 43% / reading 42%, grade F, #1,356 of 2,108 statewide, top 64%, 482 students, 50% FRL); Wellsville Secondary School (math 42% / reading 62%, grade D+, #946 of 1,100 statewide, top 88%, 647 students, 35% FRL) — zoned schools at 43% FRL track the district average.
• Watch-outs: property tax is 3.2% of price.
• Market conditions: 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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 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.