119 Union St

Salisbury, PA 15558

$99,900A-

3 bd · 0.5 ba · 1,736 sqft · Built 1910 · SingleFamily · Active · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,250/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $328/mo
• Annual: $3,935/yr
• Cap rate: 10.23%
• Cash-on-cash: 14.07%
• DSCR: 1.63
• 1% rule: 1.25%
• Cash to close: $27,972

Investor read

• This is a 3-bed/0.5-bath single-family listed at $100k.
• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 181 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($691 loan paydown + $2k appreciation (1.6% local appreciation)).
• Location reads 68/100 on livability (#919 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Salisbury-Elk Lick SD (rural): math 50% / reading 60% proficiency, ranked #331 of 658 in PA (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Salisbury-Elk Lick El Sch (math 42% / reading 52%, grade D-, #737 of 1,518 statewide, top 52%, 127 students, 63% FRL); Salisbury-Elk Lick Jshs (math 34% / reading 44%, grade F, #265 of 437 statewide, top 63%, 117 students, 41% FRL) — zoned schools average 52% FRL vs 37% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 78 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).
• Somerset County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $100k implies a 264% gain — meaningful room to come down on a strong offer.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.