149 W 3rd St · Oil City, PA 16301

$64,900

5 bd · 2.5 ba · 2,567 sqft · SingleFamily public records · 132 Days on market

Built 1900 0.37 ac lot $25/sqft · 53% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

There's a timeless charm in an old Victorian house—tall ceilings, ornate woodwork, and stained glass windows whisper stories of the past. This spacious 6-bedroom, 2-bath beauty has had all the major updates completed, including electrical, plumbing, and a new furnace, making it the perfect canvas for your dream home. Picture yourself sipping coffee on the beautiful front porch, the breeze gently rustling the trees as the neighborhood comes to life. Inside, imagine restoring hardwood floors, freshening up intricate trim, and blending vintage character with modern comfort. This isn't just a house—it's a piece of history waiting to be lovingly reimagined.

Key facts

• New furnace
• Tall ceilings
• Front porch

Tags

• TALL CEILINGS
• ORNATE WOODWORK
• STAINED GLASS WINDOWS
• NEW FURNACE
• FRONT PORCH
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% 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.

Location & tenants

• 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.
• Market conditions: 53 active listings in the ZIP; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $1k appreciation (2.2% local appreciation)).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 2.23% ✓
• Cap rate: 17.18%
• Cash-on-cash: 38.88%
• DSCR: 2.73
• GRM: 3.7

CMA / ARV

• ARV (median comp): $138,971
• List price: $64,900
• Delta: -53.30%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
151 W 3rd	0.01mi	6/1.0 (+1)	2,869 (+12%)	10mo	$30,000	$10	60
924 W 1st St	0.45mi	6/2.0 (+1)	2,628 (+2%)	12mo	$30,000	$11	58
827 Allegheny Ave	0.63mi	5/2.0	2,308 (-10%)	22mo	$134,500	$58	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.2%
• Equity multiple: 3.35×
• Total profit: $42,616
• Equity at exit: $26,218

10-year hold

• IRR: 43.9%
• Equity multiple: 6.66×
• Total profit: $102,878
• Equity at exit: $38,236

Cash invested: $18,172 (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 16301

• Home prices YoY: 1.0%
• Active inventory: 53
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$190 /mo · $2,277/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $589

Break-even live

Break-even rent $705

Max offer price $64,900

Occupancy floor 54%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $64,900 Active 132 DOM
2. 2026-06-17
   days on market $64,900 Active 131 DOM
3. 2026-06-16
   days on market $64,900 Active 130 DOM
4. 2026-06-15
   days on market $64,900 Active 129 DOM
5. 2026-06-13
   days on market $64,900 Active 127 DOM
6. 2026-06-12
   days on market $64,900 Active 126 DOM
7. 2026-06-09
   days on market $64,900 Active 123 DOM
8. 2026-06-08
   days on market $64,900 Active 122 DOM
9. 2026-06-08
   days on market $64,900 Active 121 DOM
10. 2026-06-07
    days on market $64,900 Active 120 DOM
11. 2026-06-04
    days on market $64,900 Active 117 DOM
12. 2026-06-02
    days on market $64,900 Active 116 DOM
13. 2026-06-01
    days on market $64,900 Active 115 DOM
14. 2026-05-31
    days on market $64,900 Active 114 DOM
15. 2026-02-06
    listed $64,900 Active 672-char remark

    Show marketing remark (672 chars)

    There's a timeless charm in an old Victorian house—tall ceilings, ornate woodwork, and stained glass windows whisper stories of the past. This spacious 6-bedroom, 2-bath beauty has had all the major updates completed, including electrical, plumbing, and a new furnace, making it the perfect canvas for your dream home. Picture yourself sipping coffee on the beautiful front porch, the breeze gently rustling the trees as the neighborhood comes to life. Inside, imagine restoring hardwood floors, freshening up intricate trim, and blending vintage character with modern comfort. This isn't just a house—it's a piece of history waiting to be lovingly reimagined.

16. 2026-01-30
    listed $64,900 Active 690-char remark

    Show marketing remark (690 chars)

    There’s a timeless charm in an old Victorian house—tall ceilings, ornate woodwork, and stained glass windows whisper stories of the past. This spacious 6-bedroom, 2-bath beauty has had all the major updates completed, including electrical, plumbing, and a new furnace, making it the perfect canvas for your dream home. Picture yourself sipping coffee on the beautiful front porch, the breeze gently rustling the trees as the neighborhood comes to life. Inside, imagine restoring hardwood floors, freshening up intricate trim, and blending vintage character with modern comfort. This isn’t just a house—it’s a piece of history waiting to be lovingly reimagined.

17. 2025-10-15
    status Active
18. 2025-08-20
    historical Active Under Contract
19. 2025-06-19
    price $64,900
20. 2025-05-02
    listed $74,900 Active
21. 2017-04-28
    soldstatus $87,500
22. 2017-04-28
    soldstatus $87,500
23. 1981-06-29
    soldstatus $40,000

ⓘ 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: $2,277 · $190/mo
• Projected year-2 tax: $2,277 · $190/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,405
• − Mortgage interest: −$3,635
• − Property taxes: −$2,277
• − Insurance: −$324
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$1,888
• Taxable income: $6,495
• Est. tax owed @ 24.0%: −$1,559
• After-tax cash flow: $5,506/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: Oil City Area SD
• NCES district ID: 4218090
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $37,451
• Composite: 27.39/100
• National rank: #6973
• State rank: #436 of 539 in PA

Livability — Oil City

• Score: 71/100
• State rank: #704
• US rank: #6931

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oil City, PA
• Population (ZIP): 15,067

Population outlook (Venango County) Hauer SSP2

• Today (2025): 48,827 people
• By 2030: 46,061 · -5.7%
• By 2040: 39,989 · -18.1%
• By 2050: 34,094 · -30.2%
• By 2075: 22,500 · -53.9%
• By 2100: 13,659 · -72.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Iranian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Venango

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -22.9pp toward R · 2008: -19.2pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+41.4 2016: R+42.4 2012: R+26.3 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 218.0124
• 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

+62.3% since first listed

9 events — show timeline

• 2026-02-06 Listed $64,900 AVBREALTORS
• 2026-01-30 Listed $64,900 West Penn MLS
• 2025-10-15 Relisted — AVBREALTORS
• 2025-08-20 Contingent — AVBREALTORS
• 2025-06-19 Price Changed $64,900 AVBREALTORS
• 2025-05-02 Listed $74,900 AVBREALTORS
• 2017-04-28 Sold (Public Records) $87,500 Public Records
• 2017-04-28 Sold (MLS) $87,500 AVBREALTORS
• 1981-06-29 Sold (Public Records) $40,000 Public Records

Property tax history

+0.8%/yr

Latest (2026): $2,277 · -1.3% YoY. Source: county tax records.