908 W Third St Lot 15

Lock Haven, PA 17745

$57,900B

2 bd · 1.0 ba · 672 sqft · Built 2021 · SingleFamily · Active · 363 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $856/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$96
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $276/mo
• Annual: $3,318/yr
• Cap rate: 12.02%
• Cash-on-cash: 20.47%
• DSCR: 1.91
• 1% rule: 1.48%
• Cash to close: $16,212

Investor read

• This is a 2-bed/1.0-bath single-family listed at $58k. Condition is rated good.
• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($856 rent vs $58k).
• It's been on market 363 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $400 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#275 in PA, #2,428 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment F.
• Keystone Central SD (town): math 32% / reading 44% proficiency, ranked #384 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robb El Sch (math 32% / reading 42%, grade F, #1,004 of 1,518 statewide, top 68%, 435 students, 79% FRL); Central Mountain Ms (math 21% / reading 42%, grade F, #367 of 512 statewide, top 73%, 939 students, 55% FRL); Central Mountain Hs (math 77% / reading 75%, grade A-, #25 of 437 statewide, top 6%, 1,127 students, 24% FRL).
• Market conditions: Rents rising fast (+7.4%/yr); 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 44 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• Clinton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $12k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 12.0% vs local median 3.8% in Lock Haven — 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.
• This rent is only 18% of the median local income ($59k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 363 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets appear slightly dated and could benefit from a fresh coat of paint or new hardware.