48 W Market St · Lewistown, PA 17044

$50,000

None bd · None ba · — sqft · MultiFamily · 5 Days on market

Built 1900 Poor condition 6,098 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Turn this historical property in a real life dream. The original Elks club building, circa 1900's offers endless opportunities. It spans over 10,000 sqft of space with multiple levels, multiple entrances and multiple avenues of potential. You can host several rentals with a mix of residential, commercial, eating space, in house gaming- arcade, so on. Bring the history alive with a total revamp!

Key facts

• Multiple levels
• Multiple entrances
• 6,098 sq ft lot

Tags

• ORIGINAL ELKS CLUB BUILDING
• MULTIPLE LEVELS
• MULTIPLE ENTRANCES
• IN HOUSE GAMING ARCADE

Property features AI

Finance

• Other: Property contains 3 total units

Exterior

• Parking: On-street parking
• Utilities: Public sewer
• Home design: Detached structure; Ownership interest is fee simple; Year built listed as estimated
• Construction: Stone and brick construction; Block foundation
• Exterior features: No tidal water on the lot; Other structures include above grade and below grade

Interior

• Interior features: Living area source listed as assessor

What this means for you Summary

Snapshot

• This is a multifamily listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($908 rent vs $50k).
• Cap rate 15.2% vs local median 4.5% in Lewistown — 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.

Location & tenants

• Location reads 66/100 on livability (#1,057 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities D+, commute F.
• Mifflin County SD (town): math 28% / reading 49% proficiency, ranked #380 of 539 in PA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 58 units permitted in Mifflin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mifflin County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.89%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Main St S	0.10mi	5/—	3,060	8mo	$193,000	$63	77
109 N Main St	0.18mi	4/—	1,736	10mo	$140,000	$81	71
10 S Grand St	0.10mi	4/2.0	1,452	16mo	$55,000	$38	70
3 Shaw Ave	0.48mi	11/—	6,906	7mo	$200,000	$29	59
215-217 West Fifth St	0.32mi	6/—	3,120	18mo	$90,000	$29	58
111-113 Shaw Ave	0.60mi	4/—	3,104	3mo	$88,000	$28	57
208 & 210 S Spruce St	0.60mi	6/2.5	2,004	11mo	$75,000	$37	51
119 Pannebaker Ave	0.72mi	3/—	970	5mo	$90,000	$93	50
517 S Wayne St	0.62mi	5/—	1,816	10mo	$199,900	$110	50
103-105 Shaw Ave	0.58mi	4/—	2,580	14mo	$170,000	$66	49
491-493 W 4th St W	0.67mi	7/5.0	2,782	14mo	$204,000	$73	45
16-18 S Walnut St	0.68mi	5/—	1,132	16mo	$85,000	$75	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.11×
• Total profit: $15,608
• Equity at exit: $7,455

10-year hold

• IRR: 34.5%
• Equity multiple: 4.15×
• Total profit: $44,159
• Equity at exit: $4,323

Cash invested: $14,000 (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 17044

• Home prices YoY: -6.7%
• Active inventory: 73
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $908 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $372

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 54%

Sensitivity live

Price	-10% $407	-5% $389	+0% $372	+5% $355	+10% $337
Rent	-10% $300	-5% $336	+0% $372	+5% $408	+10% $444
Rate	-1.0pp $397	-0.5pp $385	base $372	+0.5pp $359	+1.0pp $346

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 Chestnut St Apt E Lewistown, PA	1.0	1.0	—	$850	—	44d	1	0.37mi
50 Central Ave Lewistown, PA	2.0	1.0	—	$1,040	—	44d	1	0.84mi

Listing history 6 events

1. 2026-06-09
   status $50,000 Pending 5 DOM
2. 2026-06-08
   days on market $50,000 Active 5 DOM
3. 2026-06-08
   days on market $50,000 Active 4 DOM
4. 2026-06-07
   days on market $50,000 Active 3 DOM
5. 2026-06-04
   remarks 397-char remark
6. 2026-06-04
   listed $50,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $10,900
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$872
• − Management: −$872
• − Depreciation: −$1,455
• Taxable income: $3,901
• Est. tax owed @ 24.0%: −$936
• After-tax cash flow: $3,528/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.

Condition & rehab AI · 8 photos

Poor 20/100 Extensive rehab

This historic multi-family property requires extensive exterior and interior renovations to bring it up to modern standards and increase its value.

Repairs flagged

• Major exterior siding — Severe weathering and graffiti
• Major landscaping — Overgrown vegetation
• Major roof — No visible roof condition

Value-add opportunities

• Both exterior renovation — Enhances curb appeal and potential rental value
• Both landscaping — Improves curb appeal and rental value
• Both roof replacement — Ensures structural integrity and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and graffiti	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
roof · No visible roof condition	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior renovation — Enhances curb appeal and potential rental value ↑
• Both landscaping — Improves curb appeal and rental value ↑
• Both roof replacement — Ensures structural integrity and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mifflin County SD
• NCES district ID: 4215290
• Math proficiency: 28% ▼ -7.00%
• Reading proficiency: 49% ▼ -9.00%
• Median HH income: $40,718
• Composite: 32.28/100
• National rank: #5755
• State rank: #380 of 539 in PA

Livability — Lewistown

• Score: 66/100
• State rank: #1057
• US rank: #11920

Category grades

Amenities D+ Commute F Cost of living A+ Crime C Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewistown, PA
• Population (ZIP): 20,526

Population outlook (Mifflin County) Hauer SSP2

• Today (2025): 44,611 people
• By 2030: 43,212 · -3.1%
• By 2040: 40,197 · -9.9%
• By 2050: 36,813 · -17.5%
• By 2075: 28,833 · -35.4%
• By 2100: 20,296 · -54.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Polish 2% Serbian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Mifflin

• 2024 margin: Solid R (+56.4) · D 21.4% · R 77.9%
• 2008→2024 swing: -22.8pp toward R · 2008: -33.7pp · 2024: -56.4pp
• All cycles: 2024: R+56.4 2020: R+56.1 2016: R+57.5 2012: R+46.8 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.27%
• Current HPI: 214.2729
• 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

1 event — show timeline

• 2026-06-03 Listed $50,000 BRIGHT MLS