49 College Ave

Factoryville, PA 18419

$480,000C-

6 bd · 5.1 ba · 2,050 sqft · Built 1935 · MultiFamily · Active · 257 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,124/mo
• Mortgage (P&I): −$2,517
• Tax + insurance: −$584
• HOA: −$0
• Vac / Maint / Mgmt: −$866
• Net cashflow: $156/mo
• Annual: $1,876/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• 1% rule: 0.86%
• Cash to close: $134,400

Investor read

• This is a 3 × 2-bed/1.7-bath units multifamily listed at $480k.
• At list price, monthly cash flow is $156 ($2k/yr) — positive. Per door: $52/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $412k (14.1% below list).
• It's been on market 257 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $412k (14.1% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($3k loan paydown + $27k appreciation (5.5% local appreciation)).
• Location reads 70/100 on livability (#760 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Lackawanna Trail SD (suburban): math 39% / reading 53% proficiency, ranked #248 of 539 in PA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lackawanna Trail El Ctr (math 44% / reading 60%, grade C-, #586 of 1,518 statewide, top 42%, 524 students, 38% FRL); Lackawanna Trail Jshs (math 32% / reading 42%, grade F, #289 of 437 statewide, top 67%, 432 students, 38% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 30 active listings in the ZIP; 33 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).
• Wyoming County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $65k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $480k implies a 967% gain — meaningful room to come down on a strong offer.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $134k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 257 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1935 — 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.