3400 Francis St · Wesleyville, PA 16510

$899,900

144 bd · 144.0 ba · 4,560 sqft · MultiFamily public records · 80 Days on market

Built 1979 0.29 ac lot

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Discover a rare 12-unit investment opportunity tucked away on a quiet dead-end street in Wesleyville Borough, located within the highly desirable Iroquois School District. This well-maintained, family-owned asset offers massive cash flow potential with strong in-place fundamentals and clear upside. The property features oversized 1-bedroom, 1-bath units with full kitchens, spacious living rooms, private balconies, and A/C in each unit. Tenants pay all utilities except sewer and garbage, keeping expenses low with separately metered systems throughout. Positioned with peaceful creek views and off-street parking, the setting delivers both tenant appeal and long-term stability. This is a true sleeper—rarely do properties like this hit the market. Whether you're looking to expand your portfolio or step into a high-performing asset, this is your chance to unlock serious value.

Key facts

• 0.29 acre lot
• 14 parking spots
• Built 1979

What this means for you Summary

Snapshot

• This is a 12 × 1-bed/1-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $275/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $900k).
• Recommended offer: $846k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#195 in PA, #1,671 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment D.
• Iroquois SD (suburban): math 39% / reading 55% proficiency, ranked #236 of 539 in PA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 76 active listings in the ZIP; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($846k) is reasonable based on typical stale-listing flexibility.

Recommended offer $845,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.28% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.72%
• DSCR: 1.70
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.6%
• Equity multiple: 1.26×
• Total profit: $64,381
• Equity at exit: $134,178

10-year hold

• IRR: 15.9%
• Equity multiple: 2.30×
• Total profit: $326,518
• Equity at exit: $77,807

Cash invested: $251,972 (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 16510

• Home prices YoY: -33.7%
• Active inventory: 76
• Price-to-rent: 78.0×

Monthly cashflow live

• Estimated rent: $11,533 medium
• Mortgage (P&I): −$4,719
• Tax from tax record: −$715 /mo · $8,584/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,422
• Net cashflow: $3,302

Break-even live

Break-even rent $7,354

Max offer price $899,900

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$11,532
Total (12 units)			$11,533

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: $224,975
• Closing costs: $26,997
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-15
   statusdays on market $899,900 Pending 80 DOM
2. 2026-06-13
   days on market $899,900 Active 79 DOM
3. 2026-06-12
   days on market $899,900 Active 78 DOM
4. 2026-06-09
   days on market $899,900 Active 75 DOM
5. 2026-06-08
   days on market $899,900 Active 74 DOM
6. 2026-06-08
   days on market $899,900 Active 73 DOM
7. 2026-06-07
   days on market $899,900 Active 72 DOM
8. 2026-06-04
   pricedays on market $899,900 Active 69 DOM
9. 2026-06-02
   days on market $965,000 Active 68 DOM
10. 2026-06-01
    days on market $965,000 Active 67 DOM
11. 2026-05-31
    days on market $965,000 Active 66 DOM
12. 2026-03-26
    listed $965,000 Active 889-char remark

    Show marketing remark (889 chars)

    Discover a rare 12-unit investment opportunity tucked away on a quiet dead-end street in Wesleyville Borough, located within the highly desirable Iroquois School District. This well-maintained, family-owned asset offers massive cash flow potential with strong in-place fundamentals and clear upside. The property features oversized 1-bedroom, 1-bath units with full kitchens, spacious living rooms, private balconies, and A/C in each unit. Tenants pay all utilities except sewer and garbage, keeping expenses low with separately metered systems throughout. Positioned with peaceful creek views and off-street parking, the setting delivers both tenant appeal and long-term stability. This is a true sleeper—rarely do properties like this hit the market. Whether you're looking to expand your portfolio or step into a high-performing asset, this is your chance to unlock serious value.

ⓘ 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: $8,584 · $715/mo
• Projected year-2 tax: $11,401 · $950/mo
• Expected delta: +$2,817/yr (+$235/mo · 32.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $138,396
• − Mortgage interest: −$50,408
• − Property taxes: −$8,584
• − Insurance: −$4,500
• − Repairs & maintenance: −$11,072
• − Management: −$11,072
• − Depreciation: −$26,179
• Taxable income: $26,582
• Est. tax owed @ 24.0%: −$6,380
• After-tax cash flow: $33,240/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: Iroquois SD
• NCES district ID: 4212210
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 55% ▼ -12.00%
• Median HH income: $50,338
• Composite: 40.27/100
• National rank: #3766
• State rank: #236 of 539 in PA

Livability — Wesleyville

• Score: 80/100
• State rank: #195
• US rank: #1671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wesleyville, PA
• Population (ZIP): 25,152

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 6% Black 6% Asian 4% Two or more races 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 12% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 8% · Vietnam, India, Canada
• Languages at home: 88% English-only · Arabic 3% Spanish 3% Other Indo-European 2%

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: ▼ -122.36%
• Current HPI: 240.7222
• 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

• 2026-03-26 Listed $965,000 GEBOR

Property tax history

+1.0%/yr

Latest (2026): $8,584 · -21.6% YoY. Source: county tax records.