927 1st St

Menallen, PA 15442

$32,000B

2 bd · 1.0 ba · 986 sqft · Built 1900 · MultiFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $675/mo
• Mortgage (P&I): −$168
• Tax + insurance: −$54
• HOA: −$0
• Vac / Maint / Mgmt: −$142
• Net cashflow: $312/mo
• Annual: $3,743/yr
• Cap rate: 17.99%
• Cash-on-cash: 41.78%
• DSCR: 2.86
• 1% rule: 2.11%
• Cash to close: $8,960

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $32k.
• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($675 rent vs $32k).
• It's been on market 48 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($221 loan paydown + $827 appreciation (2.6% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Uniontown Area SD (suburban): math 27% / reading 49% proficiency, ranked #392 of 539 in PA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• 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 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.