1028 W 3rd St · Oil City, PA 16301

$135,000

3 bd · 1.0 ba · 2,336 sqft · SingleFamily public records · 3 Days on market

Built 1979 Est $117k · 16% over

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Why this score? — see what drove the D 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 +16.0/30.0
• Appreciation +6.1/10.0
• DSCR +4.9/10.0
• 1% rule +4.6/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0

Listing remarks MLS

Victorian charm abounds in this beautifully kept home. Natural woodwork, berber carpets, applianced kitchen, gas fireplace in livingroom, Front & rear stairs, finished area on 3rd floor, newer roof, new gutters & downspouts, vinyl windows, detached 2 car garage & close to playground. Don't pass this one up-call today!

Key facts

• Natural wood floors
• Front porch
• Built 1979

Tags

• FRONT PORCH
• NATURAL WOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $67 ($801/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (3.7% below list).
• Recommended offer: $130k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 9.6% in Oil City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 1 comparable units currently listed for rent nearby; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($933 loan paydown + $3k 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $61k; list at $135k implies a 121% gain — meaningful room to come down on a strong offer.

Recommended offer $130,000 (3.7% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $116,800
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1110 W 3rd St	0.07mi	3/1.0	1,994 (-15%)	5mo	$170,000	$85	68
121 Moran St	0.42mi	3/1.5	2,382 (+2%)	8mo	$195,639	$82	68
807 W 1st St	0.36mi	3/2.0	2,345 (+0%)	19mo	$115,000	$49	63
1033 W Second St	0.06mi	3/1.0	2,016 (-14%)	14mo	$50,000	$25	62
1026 W Third St	0.01mi	3/1.0	2,016 (-14%)	19mo	$75,000	$37	61
618 W Front St	0.55mi	2/1.0 (-1)	2,300 (-2%)	10mo	$60,000	$26	59
909 Central Ave Ext	0.72mi	3/1.0	2,492 (+7%)	9mo	$142,000	$57	48
322 Wyllis St	0.28mi	3/1.5	2,088 (-11%)	23mo	$104,900	$50	48
148 West 3rd St	0.58mi	4/1.5 (+1)	2,146 (-8%)	11mo	$130,000	$61	43
2 West 7th St	0.67mi	3/1.0	2,508 (+7%)	19mo	$81,000	$32	41

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: 7.2%
• Equity multiple: 1.39×
• Total profit: $14,753
• Equity at exit: $54,537

10-year hold

• IRR: 10.4%
• Equity multiple: 2.43×
• Total profit: $54,095
• Equity at exit: $79,536

Cash invested: $37,800 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$196 /mo · $2,353/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $67

Break-even live

Break-even rent $1,216

Max offer price $135,000

Occupancy floor 90%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 W 1st St Oil City, PA	4.0	1.5	1674	$1,300	$0.78	44d	1	0.36mi

Listing history 4 events

1. 2026-06-18
   days on market $135,000 Active 3 DOM
2. 2026-06-17
   days on market $135,000 Active 2 DOM
3. 2026-06-16
   remarks 154-char remark
4. 2026-06-16
   listed $135,000 Active 1 DOM

ⓘ 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: $2,353 · $196/mo
• Projected year-2 tax: $2,353 · $196/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 · 18 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: $15,600
• − Mortgage interest: −$7,562
• − Property taxes: −$2,353
• − Insurance: −$675
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,927
• Taxable loss: −$1,413
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $1,140/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

+121.3% since first listed

3 events — show timeline

• 2026-06-16 Listed $135,000 FSBO.com
• 2004-02-27 Sold (MLS) $61,000 AVBREALTORS
• 2002-12-03 Sold (MLS) $61,000 AVBREALTORS

Property tax history

+0.8%/yr

Latest (2026): $2,353 · -1.3% YoY. Source: county tax records.