431 S Shady Ave · Corry, PA 16407

$88,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 3 Days on market

Built 1920 9,148 sqft lot Est $142k · 38% under

---

Why this score? — see what drove the B 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 +23.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.5/10.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Adorable & extremely well cared for home in the heart of Corry! It's hard to beat 1 story living and a desirable location, only a short walk from the local high school. Newer roof (2023) along with new HW Tank (2024) and updated windows + electrical service. Partial basement & exterior shed create an abundance of storage space. Come put your finishing touches on this home and call it your own!

Key facts

• New hw tank
• Newer roof
• Updated windows

Tags

• 1 STORY LIVING
• DESIRABLE LOCATION
• NEWER ROOF
• NEW HW TANK
• UPDATED WINDOWS
• UPDATED ELECTRICAL SERVICE

Property features AI

Exterior

• Parking: Carport; 1-car garage
• Security: Fire alarm
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; One story
• Construction: Cedar construction; Asphalt and metal roof; Partial crawl space basement
• Exterior features: Shed(s); Paved road access

Interior

• Kitchen: Refrigerator included
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall unit cooling
• Interior features: Refrigerator; Storage; Fire alarm

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $88k).
• Cap rate 8.5% vs local median 4.0% in Corry — 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 73/100 on livability (#573 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, health & safety A; Watch: amenities D+, commute F, employment F.
• Corry Area SD (town): math 33% / reading 52% proficiency, ranked #332 of 539 in PA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($608 loan paydown + $9k appreciation (10.0% local appreciation)).
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $88k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $142,128
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 E South St	0.17mi	2/1.5	1,104 (+10%)	20mo	$161,000	$146	58
962 E Main St	0.07mi	2/1.5	1,157 (+15%)	22mo	$110,000	$95	52
806 E Main St	0.36mi	3/1.0 (+1)	1,061 (+5%)	22mo	$149,900	$141	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 3.36×
• Total profit: $58,264
• Equity at exit: $79,277

10-year hold

• IRR: 26.0%
• Equity multiple: 7.63×
• Total profit: $163,476
• Equity at exit: $170,965

Cash invested: $24,640 (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 16407

• Home prices YoY: 11.0%
• Active inventory: 41
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $964 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $162

Break-even live

Break-even rent $759

Max offer price $88,000

Occupancy floor 78%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-26
   listed $88,000 Active
3. 2005-02-09
   soldstatus $30,000
4. 2001-11-19
   soldstatus $60,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,218 · $102/mo
• Projected year-2 tax: $1,304 · $109/mo
• Expected delta: +$86/yr (+$7/mo · 7.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,572
• − Mortgage interest: −$4,929
• − Property taxes: −$1,218
• − Insurance: −$440
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$2,560
• Taxable income: $573
• Est. tax owed @ 24.0%: −$137
• After-tax cash flow: $1,808/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.

Schools (NCES district)

• District: Corry Area SD
• NCES district ID: 4206860
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 52% ▼ -5.00%
• Median HH income: $40,206
• Composite: 35.56/100
• National rank: #4904
• State rank: #332 of 539 in PA

Livability — Corry

• Score: 73/100
• State rank: #573
• US rank: #5430

Category grades

Amenities D+ Commute F Cost of living A+ Crime A Employment F Housing B+ Health & safety A User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corry, PA
• Population (ZIP): 10,555

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Iranian 7% Romanian 6% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.19%
• Current HPI: 213.9657
• 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

+46.7% since first listed

4 events — show timeline

• 2026-04-29 Pending — GEBOR
• 2026-04-26 Listed $88,000 GEBOR
• 2005-02-09 Sold (Public Records) $30,000 Public Records
• 2001-11-19 Sold (Public Records) $60,000 Public Records

Property tax history

+2.0%/yr

Latest (2026): $1,218 · +1.2% YoY. Source: county tax records.