123 S Jones St · Lock Haven, PA 17745

$239,900

None bd · None ba · 2,120 sqft · MultiFamily · 111 Days on market

Built 1930 Fair condition 5,227 sqft lot $113/sqft · 87% above area ↓ 4% since listing

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Why this score? — see what drove the C- 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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Clinton County / Lock Haven 2 unit for sale. FULL VIDEO TOUR AVAILABLE. JUST ASK. 3 BR's each side, tenants pay own utilities, gas heat, 2 car plus block garage included. great to live in one unit and rent out the other unit, investors, take a look. ask about special financing programs available. 48 hours notice for showings. current rents are $975 per month (125 side) and $1050 per month (123 side) month to month leases. owner pays garbage. tenants pay other utilities,

Key facts

• 5,227 sq ft lot
• 3 parking spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $240k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive. Per door: $112/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (0.8% below list).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.0% in Lock Haven — 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 78/100 on livability (#275 in PA, #2,428 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment F.
• Keystone Central SD (town): math 32% / reading 44% proficiency, ranked #384 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Mountain Ms (math 21% / reading 42%, grade F, #367 of 512 statewide, top 73%, 939 students, 55% FRL); Central Mountain Hs (math 77% / reading 75%, grade A-, #25 of 437 statewide, top 6%, 1,127 students, 24% FRL) — zoned schools at 40% FRL track the district average.
• Zoned-school proficiency averages 54% at this address vs 38% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Keystone Central SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.4%/yr); 99 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• At $2,381/mo this rent would consume 49% of the median local household income ($59k/yr) (locally 522% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Clinton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.99%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $128,504
• List price: $239,900
• Delta: 86.69%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 W Clinton St	0.07mi	—/—	2,064 (-3%)	16mo	$118,000	$57	79
166-168 S Jones St	0.09mi	—/—	2,304 (+9%)	6mo	$175,000	$76	76

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 · 7.38% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-13,673
• Equity at exit: $35,770

10-year hold

• IRR: 9.0%
• Equity multiple: 1.83×
• Total profit: $55,752
• Equity at exit: $20,742

Cash invested: $67,172 (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 17745

• Home prices YoY: -7.3%
• Rents YoY: 7.4%
• Active inventory: 99
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $2,381 medium
• Mortgage (P&I): −$1,258
• Tax est. 1.5%: −$300 /mo · $3,598/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $223

Break-even live

Break-even rent $2,099

Max offer price $239,900

Occupancy floor 86%

Sensitivity live

Price	-10% $389	-5% $306	+0% $223	+5% $140	+10% $57
Rent	-10% $35	-5% $129	+0% $223	+5% $317	+10% $411
Rate	-1.0pp $344	-0.5pp $284	base $223	+0.5pp $161	+1.0pp $98

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,380
Total (2 units)			$2,381

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
440 W Main St Unit MT444 Lock Haven, PA	2.0	1.5	2500	$1,300	$0.52	46d	1	0.50mi
30 Clarks Barn Rd Unit A Lock Haven, PA	3.0	1.0	1400	$1,200	$0.86	46d	1	1.43mi

Listing history 18 events

1. 2026-06-22
   days on market $239,900 Active 111 DOM
2. 2026-06-19
   days on market $239,900 Active 108 DOM
3. 2026-06-18
   days on market $239,900 Active 107 DOM
4. 2026-06-17
   days on market $239,900 Active 106 DOM
5. 2026-06-16
   days on market $239,900 Active 105 DOM
6. 2026-06-15
   days on market $239,900 Active 104 DOM
7. 2026-06-14
   days on market $239,900 Active 102 DOM
8. 2026-06-12
   days on market $239,900 Active 101 DOM
9. 2026-06-09
   days on market $239,900 Active 98 DOM
10. 2026-06-08
    days on market $239,900 Active 97 DOM
11. 2026-06-07
    days on market $239,900 Active 96 DOM
12. 2026-06-04
    days on market $239,900 Active 92 DOM
13. 2026-06-02
    days on market $239,900 Active 91 DOM
14. 2026-06-01
    days on market $239,900 Active 90 DOM
15. 2026-05-31
    days on market $239,900 Active 89 DOM
16. 2026-05-31
    days on market $239,900 Active 88 DOM
17. 2026-03-24
    price $239,900 474-char remark

    Show marketing remark (474 chars)

    Clinton County / Lock Haven 2 unit for sale. FULL VIDEO TOUR AVAILABLE. JUST ASK. 3 BR's each side, tenants pay own utilities, gas heat, 2 car plus block garage included. great to live in one unit and rent out the other unit, investors, take a look. ask about special financing programs available. 48 hours notice for showings. current rents are $975 per month (125 side) and $1050 per month (123 side) month to month leases. owner pays garbage. tenants pay other utilities,

18. 2026-03-03
    listed $249,900 Active 474-char remark

    Show marketing remark (474 chars)

    Clinton County / Lock Haven 2 unit for sale. FULL VIDEO TOUR AVAILABLE. JUST ASK. 3 BR's each side, tenants pay own utilities, gas heat, 2 car plus block garage included. great to live in one unit and rent out the other unit, investors, take a look. ask about special financing programs available. 48 hours notice for showings. current rents are $975 per month (125 side) and $1050 per month (123 side) month to month leases. owner pays garbage. tenants pay other utilities,

ⓘ 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: $28,572
• − Mortgage interest: −$13,438
• − Property taxes: −$3,598
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,286
• − Management: −$2,286
• − Depreciation: −$6,979
• Taxable loss: −$1,215
• Est. tax savings @ 24.0%: +$291
• After-tax cash flow: $2,969/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 · 12 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations to update the kitchen and bathrooms, which would significantly enhance its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate kitchen appliances — outdated and in need of replacement
• Minor bathroom fixtures — basic and in need of updating

Value-add opportunities

• Both update kitchen cabinets and appliances — enhances both resale and rental value
• Both update bathroom fixtures — enhances both resale and rental value
• Both paint interior walls — enhances both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
kitchen appliances · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · basic and in need of updating	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — enhances both resale and rental value ↑
• Both update bathroom fixtures — enhances both resale and rental value ↑
• Both paint interior walls — enhances both resale 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: Keystone Central SD
• NCES district ID: 4212725
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $42,713
• Composite: 32.09/100
• National rank: #5810
• State rank: #384 of 539 in PA

Livability — Lock Haven

• Score: 78/100
• State rank: #275
• US rank: #2428

Category grades

Amenities A+ Commute B 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: Lock Haven, PA
• County: Clinton County · 17,718 people
• City population: 17,718
• Metro: Lock Haven, PA
• Population (ZIP): 17,718
• Household income: $58,555
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 522.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 39,048 people
• By 2030: 38,812 · -0.6%
• By 2040: 38,011 · -2.7%
• By 2050: 36,931 · -5.4%
• By 2075: 34,077 · -12.7%
• By 2100: 29,683 · -24.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 3% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+40.9) · D 29.1% · R 70.0%
• 2008→2024 swing: -38.1pp toward R · 2008: -2.8pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+36.3 2016: R+34.8 2012: R+11.3 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.42%
• Current HPI: 270.5334
• Rent YoY: ▲ 7.38%
• Metro: Lock Haven, PA
• 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

-4.0% since first listed

2 events — show timeline

• 2026-03-24 Price Changed $239,900 WBVAR
• 2026-03-03 Listed $249,900 WBVAR