413 W Main St

Elkland, PA 16920

$90,000B-

3 bd · 1.0 ba · 1,423 sqft · Built 1941 · SingleFamily · Pending · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,184/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $183/mo
• Annual: $2,201/yr
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• 1% rule: 1.32%
• Cash to close: $25,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 73 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($622 loan paydown + $399 appreciation (0.4% local appreciation)).
• Location reads 65/100 on livability (#1,171 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Northern Tioga SD (rural): math 34% / reading 54% proficiency, ranked #301 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.2% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 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.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.