7 Hastings St

Wellsboro, PA 16901

$239,900D-

3 bd · 2.0 ba · 1,465 sqft · Built 1901 · MultiFamily · Active · 321 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,066/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$348
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $-764/mo
• Annual: $-9,174/yr
• Cap rate: 2.47%
• Cash-on-cash: -13.66%
• DSCR: 0.39
• 1% rule: 0.44%
• Cash to close: $67,172

Investor read

• This is a 3-bed/2.0-bath multifamily listed at $240k.
• At list price, monthly cash flow is $-764 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (56.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (55.6% below list).
• It's been on market 321 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (56.3% below list) — sets the bar for cash-flow.
• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Location reads 75/100 on livability (#426 in PA, #3,882 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Wellsboro Area SD (rural): math 37% / reading 58% proficiency, ranked #230 of 539 in PA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Don Gill El Sch (math 33% / reading 51%, grade F, #883 of 1,518 statewide, top 61%, 318 students, 55% FRL); Rock L Butler Ms (math 32% / reading 61%, grade D+, #172 of 512 statewide, top 35%, 480 students, 50% FRL); Wellsboro Area Hs (math 77%, 439 students, 45% FRL) — zoned schools average 50% FRL vs 31% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 32 units permitted in Tioga County in 2024 (0 in 5+ unit buildings).
• Tioga County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 321 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
• Built in 1901 — 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 A-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?
• 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?
• 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.