11269 State Route 29 · South Montrose, PA 18801

$69,900

4 bd · 1.0 ba · 3,094 sqft · MultiFamily · 24 Days on market

Built 1930 1.03 ac lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Nestled on a spacious 1.03-acre lot along State Route 29 in Montrose, PA, this 1930-built multi-family property presents a prime investment opportunity. While currently in need of significant renovation, the structure's original design accommodates multiple rental units, offering the potential for substantial income generation upon restoration. Its strategic location provides convenient access to local amenities, schools, and transportation routes, enhancing its appeal to future tenants or homeowners. The property also has a new 70x30 concrete garage pad with drainage installed and ready for a building to be added. This property is ideal for investors seeking a project with substantial upsi

Key facts

• Spacious lot
• 1.03 acre lot
• 2 garage spots

Tags

• SPACIOUS LOT
• MULTI-FAMILY PROPERTY
• NEW CONCRETE GARAGE PAD
• CONVENIENT ACCESS TO AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Montrose Area SD (rural): math 35% / reading 61% proficiency, ranked #214 of 539 in PA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 80 units permitted in Susquehanna County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($483 loan paydown + $2k appreciation (3.1% local appreciation)).
• Susquehanna County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 8.74% ✓
• Cap rate: 78.03%
• Cash-on-cash: 256.20%
• DSCR: 12.40
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 15.06×
• Total profit: $275,242
• Equity at exit: $31,954

10-year hold

• IRR: —
• Equity multiple: 31.99×
• Total profit: $606,523
• Equity at exit: $49,656

Cash invested: $19,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18801

• Home prices YoY: 2.4%
• Active inventory: 39
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $6,108 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$251 /mo · $3,013/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,283
• Net cashflow: $4,179

Break-even live

Break-even rent $819

Max offer price $69,900

Occupancy floor 27%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$6,110
Total (5 units)			$6,108

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-07-12
   status Pending
2. 2025-06-18
   listed $69,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $3,013 · $251/mo
• Projected year-2 tax: $3,013 · $251/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,296
• − Mortgage interest: −$3,915
• − Property taxes: −$3,013
• − Insurance: −$350
• − Repairs & maintenance: −$5,864
• − Management: −$5,864
• − Depreciation: −$2,033
• Taxable income: $52,258
• Est. tax owed @ 24.0%: −$12,542
• After-tax cash flow: $37,601/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Montrose Area SD
• NCES district ID: 4215810
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 61% ▼ -10.00%
• Median HH income: $50,819
• Composite: 41.1/100
• National rank: #3569
• State rank: #214 of 539 in PA

Livability — South Montrose

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: South Montrose, PA
• Population (ZIP): 7,838

Population outlook (Susquehanna County) Hauer SSP2

• Today (2025): 37,552 people
• By 2030: 35,270 · -6.1%
• By 2040: 30,663 · -18.3%
• By 2050: 26,492 · -29.5%
• By 2075: 19,658 · -47.7%
• By 2100: 15,179 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 4% Slovak 2% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Susquehanna

• 2024 margin: Solid R (+44.7) · D 27.2% · R 71.9%
• 2008→2024 swing: -33.0pp toward R · 2008: -11.7pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.2 2016: R+42.9 2012: R+21.4 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.13%
• Current HPI: 133.3042
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

2 events — show timeline

• 2025-07-12 Pending — GSBR as distributed by MLS GRID
• 2025-06-18 Listed $69,900 GSBR as distributed by MLS GRID

Property tax history

+1.8%/yr

Latest (2026): $3,013 · +5.1% YoY. Source: county tax records.