45-47 S Market St

Shamokin, PA 17872

$121,500B

4 bd · 2.0 ba · 1,396 sqft · Built 1900 · MultiFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,211/mo
• Mortgage (P&I): −$637
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$464
• Net cashflow: $851/mo
• Annual: $10,218/yr
• Cap rate: 15.25%
• Cash-on-cash: 31.99%
• DSCR: 2.42
• 1% rule: 1.82%
• Cash to close: $34,020

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $122k. Condition is rated fair.
• At list price, monthly cash flow is $851 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• It's been on market 57 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($840 loan paydown + $2k appreciation (1.9% local appreciation)).
• Location reads 68/100 on livability (#887 in PA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, commute F, employment F.
• Shamokin Area SD (town): math 19% / reading 40% proficiency, ranked #450 of 539 in PA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Northumberland County in 2024 (0 in 5+ unit buildings).
• Northumberland County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $14k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.3% vs local median 11.4% in Shamokin — 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 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Severe damage and peeling paint
• Major: interior walls — Peeling paint and general wear
• Major: kitchen cabinets — Outdated and worn
• Major: bathroom fixtures — Worn and outdated
• Major: flooring — Worn carpet and subfloor damage
• Unknown: HVAC system — No visible issues