823 Mary St

Houtzdale, PA 16651

$84,000B+

3 bd · 1.0 ba · 1,104 sqft · Built 1917 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,059/mo
• Mortgage (P&I): −$441
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $296/mo
• Annual: $3,550/yr
• Cap rate: 10.52%
• Cash-on-cash: 15.09%
• DSCR: 1.67
• 1% rule: 1.26%
• Cash to close: $23,520

Investor read

• This is a 3-bed/1.0-bath other listed at $84k.
• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $8k of equity ($581 loan paydown + $8k appreciation (9.4% local appreciation)).
• Location reads 61/100 on livability (#1,381 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D+, schools D, employment D.
• Moshannon Valley SD (rural): math 30% / reading 47% proficiency, ranked #382 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 99 units permitted in Clearfield County in 2024 (10 in 5+ unit buildings).
• Clearfield County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 22y ago 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.
• Current owner paid $64k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (9.4% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.