170 Elm St E

Bradford, PA 16701

$19,700C+

3 bd · 1.5 ba · 1,952 sqft · Built 1910 · Other · Active · 281 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,017/mo
• Mortgage (P&I): −$450
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $210/mo
• Annual: $2,519/yr
• Cap rate: 9.23%
• Cash-on-cash: 10.48%
• DSCR: 1.47
• 1% rule: 1.18%
• Cash to close: $24,030

Investor read

• This is a 3-bed/1.5-bath other listed at $20k.
• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 281 days — a 12% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $17k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $593 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#814 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Bradford Area SD (town): math 41% / reading 60% proficiency, ranked #187 of 539 in PA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: George Blaisdell El Sch (567 students, 100% FRL); Floyd C Fretz Ms (math 33% / reading 60%, grade D+, #172 of 512 statewide, top 35%, 568 students, 100% FRL); Bradford Area Hs (math 72% / reading 24%, grade D, #153 of 437 statewide, top 37%, 751 students, 100% FRL) — zoned schools average 100% FRL vs 47% district-wide (53 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 6.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 78 active listings in the ZIP; 29 units permitted in McKean County in 2024 (0 in 5+ unit buildings).
• McKean County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $22k (53%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 9.2% vs local median 4.3% in Bradford — 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.

Questions for listing agent

• It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• Crime grade is F 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.