201 E Southey St

Altoona, PA 16602

$107,000C

2 bd · 1.0 ba · 1,010 sqft · Built 1960 · SingleFamily · Pending · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$561
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $96/mo
• Annual: $1,154/yr
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• 1% rule: 1.03%
• Cash to close: $29,960

Investor read

• This is a 2-bed/1.0-bath single-family listed at $107k.
• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• It's been on market 59 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 151 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $107k implies a 168% gain — meaningful room to come down on a strong offer.
• Cap rate 7.4% vs local median 5.8% in Altoona — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.
• 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.