10548 State Rt 29 · South Montrose, PA 18801

$235,000

2 bd · 1.5 ba · 1,200 sqft · MultiFamily · 192 Days on market

Built 1960 Fair condition 2.00 ac lot

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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 +20.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

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

Listing remarks MLS

2 Acres with 2 Buildings, one is a 2 bed, 2 bath mobile home and another newer building which housed a Hair salon. Salon is still fully furnished and ready to go or if someone chooses to have an office, shop or different retail , this place has plenty of space to satisfy your needs. Both places have their own drilled well, public septic and lots of level outdoor space for expansion. Come take a look.

Key facts

• 2 buildings
• Level outdoor space
• 2 acres

Tags

• 2 ACRES
• 2 BUILDINGS
• NEWER BUILDING
• FULLY FURNISHED SALON
• LEVEL OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $235k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Montrose Area SD (rural): math 35% / reading 61% proficiency, ranked #214 of 539 in PA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 80 units permitted in Susquehanna County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.1% local appreciation)).
• Susquehanna County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.74×
• Total profit: $48,530
• Equity at exit: $107,427

10-year hold

• IRR: 14.7%
• Equity multiple: 3.20×
• Total profit: $144,840
• Equity at exit: $166,940

Cash invested: $65,800 (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 18801

• Home prices YoY: 2.4%
• Active inventory: 39
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $2,424 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $291

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,207
1× unit	0	0	$1,217
Total (2 units)			$2,424

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $235,000 Active 192 DOM
2. 2026-06-18
   days on market $235,000 Active 191 DOM
3. 2026-06-17
   days on market $235,000 Active 190 DOM
4. 2026-06-16
   days on market $235,000 Active 189 DOM
5. 2026-06-15
   days on market $235,000 Active 188 DOM
6. 2026-06-14
   days on market $235,000 Active 186 DOM
7. 2026-06-13
   days on market $235,000 Active 185 DOM
8. 2026-06-10
   days on market $235,000 Active 183 DOM
9. 2026-06-09
   days on market $235,000 Active 182 DOM
10. 2026-06-08
    days on market $235,000 Active 181 DOM
11. 2026-06-07
    days on market $235,000 Active 180 DOM
12. 2026-06-05
    days on market $235,000 Active 177 DOM
13. 2026-06-03
    days on market $235,000 Active 176 DOM
14. 2026-06-02
    days on market $235,000 Active 175 DOM
15. 2026-06-01
    days on market $235,000 Active 174 DOM
16. 2026-05-31
    days on market $235,000 Active 173 DOM
17. 2026-05-30
    days on market $235,000 Active 172 DOM
18. 2025-12-08
    listed $235,000 Active 403-char remark

    Show marketing remark (403 chars)

    2 Acres with 2 Buildings, one is a 2 bed, 2 bath mobile home and another newer building which housed a Hair salon. Salon is still fully furnished and ready to go or if someone chooses to have an office, shop or different retail , this place has plenty of space to satisfy your needs. Both places have their own drilled well, public septic and lots of level outdoor space for expansion. Come take a look.

ⓘ 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: $29,088
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,327
• − Management: −$2,327
• − Depreciation: −$6,836
• Taxable loss: −$266
• Est. tax savings @ 24.0%: +$64
• After-tax cash flow: $3,555/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

A fair condition multi-family property with moderate rehab needs, offering potential for significant value increase through cosmetic and interior updates.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Minor interior paint — Some discoloration

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both replace carpet — Improves comfort and value
• Both update kitchen and bathrooms — Modernizes and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
interior paint · Some discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both replace carpet — Improves comfort and value ↑
• Both update kitchen and bathrooms — Modernizes and increases 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: Montrose Area SD
• NCES district ID: 4215810
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 61% ▼ -10.00%
• Median HH income: $50,819
• Composite: 41.1/100
• National rank: #3569
• State rank: #214 of 539 in PA

Livability — South Montrose

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,838

Population outlook (Susquehanna County) Hauer SSP2

• Today (2025): 37,552 people
• By 2030: 35,270 · -6.1%
• By 2040: 30,663 · -18.3%
• By 2050: 26,492 · -29.5%
• By 2075: 19,658 · -47.7%
• By 2100: 15,179 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 4% Slovak 2% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Susquehanna

• 2024 margin: Solid R (+44.7) · D 27.2% · R 71.9%
• 2008→2024 swing: -33.0pp toward R · 2008: -11.7pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.2 2016: R+42.9 2012: R+21.4 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.13%
• Current HPI: 133.3042
• 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

• 2025-12-08 Listed $235,000 GSBR as distributed by MLS GRID