305 Mill St

Laceyville, PA 18623

$139,000C-

3 bd · 1.5 ba · 1,746 sqft · Built 1920 · Other · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$297
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $-10/mo
• Annual: $-114/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• 1% rule: 0.93%
• Cash to close: $38,920

Investor read

• This is a 3-bed/1.5-bath other listed at $139k.
• At list price, monthly cash flow is $-10 ($-114/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (7.5% below list).
• It's been on market 61 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (7.5% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($961 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 62/100 on livability (#1,353 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, employment B+; Watch: schools F, amenities F, commute F.
• Wyalusing Area SD (rural): math 24% / reading 48% proficiency, ranked #400 of 539 in PA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 33 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).
• Wyoming County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $38k; list at $139k implies a 271% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-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.