1042 S Morgan St · Meadville, PA 16335

$129,000

3 bd · 1.0 ba · 1,224 sqft · SingleFamily · 4 Days on market

8,777 sqft lot Est $132k · at est.

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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 +21.3/30.0
• ARV discount +8.6/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The roof, windows, and Furnace have been updated. Newer Appliances. This is a 3 bed, 1 bath home on a level fenced lot. Located on the Corner of S Morgan St and a paper street. The interior needs remodeled to make it your home.

Key facts

• Remodeled bathroom
• New flooring
• Versatile bonus room

Tags

• SPACIOUS QUARTER-ACRE LOT
• BUILT-INS
• VERSATILE BONUS ROOM
• DEEP FENCED-IN BACKYARD
• REMODELED BATHROOM
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (1.8% below list).
• Recommended offer: $127k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.9% in Meadville — 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 85/100 on livability (#72 in PA, #502 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment F.
• Crawford Central SD (town): math 28% / reading 51% proficiency, ranked #367 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 83 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Crawford County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $129k implies a 222% gain — meaningful room to come down on a strong offer.

Recommended offer $126,661 (1.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.98% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $132,192
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1042 S Morgan St	0.00mi	3/1.0	1,224 (0%)	0mo	$125,000	$102	100
762 Pine St	0.05mi	3/3.0	1,130 (-8%)	10mo	$160,000	$142	69
11580 Pierson Ave	0.52mi	3/1.0	1,248 (+2%)	8mo	$135,000	$108	66
596 Williamson Rd	0.39mi	3/1.0	1,152 (-6%)	9mo	$122,000	$106	64
684 Davenport St	0.53mi	3/1.0	1,300 (+6%)	1mo	$73,000	$56	64
759 Hartman	0.52mi	3/1.5	1,300 (+6%)	1mo	$135,000	$104	63
828 Irvin Ave	0.20mi	3/1.5	1,360 (+11%)	12mo	$140,000	$103	61
11476 Williamson Rd	0.42mi	3/1.5	1,344 (+10%)	10mo	$200,000	$149	54
875 Thurston Rd	0.63mi	3/1.5	1,312 (+7%)	5mo	$225,000	$171	53
719 N Morgan St	0.61mi	3/2.0	1,324 (+8%)	11mo	$165,500	$125	45
802 Brawley Ave	0.60mi	3/2.0	1,392 (+14%)	6mo	$160,000	$115	40
20743 Alden St	0.66mi	3/1.5	1,400 (+14%)	11mo	$103,000	$74	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-8,857
• Equity at exit: $19,234

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $7,715
• Equity at exit: $11,154

Cash invested: $36,120 (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 16335

• Home prices YoY: -9.0%
• Active inventory: 133
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,267 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$81 /mo · $969/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $190

Break-even live

Break-even rent $1,027

Max offer price $129,000

Occupancy floor 80%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
637 Pine St Meadville, PA	1.0–2.0	1.0–1.5	723	$1,885	$2.61	43d	1	0.28mi

Listing history 6 events

1. 2026-04-26
   status Pending
2. 2026-04-22
   listed $129,000 Active
3. 2022-05-23
   soldstatus $40,000 227-char remark

   Show marketing remark (227 chars)

   The roof, windows, and Furnace have been updated. Newer Appliances. This is a 3 bed, 1 bath home on a level fenced lot. Located on the Corner of S Morgan St and a paper street. The interior needs remodeled to make it your home.

4. 2022-04-18
   listed $44,900 227-char remark

   Show marketing remark (227 chars)

   The roof, windows, and Furnace have been updated. Newer Appliances. This is a 3 bed, 1 bath home on a level fenced lot. Located on the Corner of S Morgan St and a paper street. The interior needs remodeled to make it your home.

5. 2016-06-03
   soldstatus $35,400 210-char remark

   Show marketing remark (210 chars)

   Roof, Windows, And Furnace Have Been Updated In This 3 Bedroom, 1 Bath Home. Needs A Little More Tlc To Make It Your Perfect Home. Hardwood Floors Under Carpet. Convenient, Close To Downtown Meadville Location.

6. 2015-12-23
   listed $36,400 210-char remark

   Show marketing remark (210 chars)

   Roof, Windows, And Furnace Have Been Updated In This 3 Bedroom, 1 Bath Home. Needs A Little More Tlc To Make It Your Perfect Home. Hardwood Floors Under Carpet. Convenient, Close To Downtown Meadville Location.

ⓘ 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: $969 · $81/mo
• Projected year-2 tax: $1,504 · $125/mo
• Expected delta: +$534/yr (+$45/mo · 55.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 17 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: $15,199
• − Mortgage interest: −$7,226
• − Property taxes: −$969
• − Insurance: −$645
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$3,753
• Taxable income: $175
• Est. tax owed @ 24.0%: −$42
• After-tax cash flow: $2,234/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: Crawford Central SD
• NCES district ID: 4207080
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 51% ▼ -9.00%
• Median HH income: $41,837
• Composite: 33.21/100
• National rank: #5530
• State rank: #367 of 539 in PA

Livability — Meadville

• Score: 85/100
• State rank: #72
• US rank: #502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meadville, PA
• County: Crawford County · 27,175 people
• City population: 27,175
• Metro: Meadville, PA
• Population (ZIP): 27,175
• Household income: $57,591
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 953.0

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 81,399 people
• By 2030: 77,977 · -4.2%
• By 2040: 70,659 · -13.2%
• By 2050: 63,841 · -21.6%
• By 2075: 50,198 · -38.3%
• By 2100: 37,898 · -53.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Black 3% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Lithuanian 2% Serbian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+39.2) · D 30.0% · R 69.2%
• 2008→2024 swing: -28.8pp toward R · 2008: -10.4pp · 2024: -39.2pp
• All cycles: 2024: R+39.2 2020: R+37.2 2016: R+38.5 2012: R+19.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.80%
• Current HPI: 272.4095
• Rent YoY: —
• Metro: Meadville, 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

+254.4% since first listed

6 events — show timeline

• 2026-04-26 Pending — GEBOR
• 2026-04-22 Listed $129,000 GEBOR
• 2022-05-23 Sold (MLS) $40,000 GEBOR
• 2022-04-18 Listed $44,900 GEBOR
• 2016-06-03 Sold (MLS) $35,400 GEBOR
• 2015-12-23 Listed $36,400 GEBOR

Property tax history

-4.4%/yr

Latest (2025): $969 · -2.0% YoY. Source: county tax records.