807 Blair St

Portage, PA 15946

$54,900B+

2 bd · 1.0 ba · 1,290 sqft · Built 1910 · SingleFamily · Pending · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $952/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $306/mo
• Annual: $3,674/yr
• Cap rate: 14.20%
• Cash-on-cash: 28.24%
• DSCR: 2.26
• 1% rule: 1.73%
• Cash to close: $15,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $55k).
• It's been on market 120 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#772 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Portage Area SD (town): math 46% / reading 66% proficiency, ranked #120 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Portage Area El Sch (math 48% / reading 72%, grade B-, #371 of 1,518 statewide, top 25%, 448 students, 54% FRL); Portage Area Jshs (math 42% / reading 57%, grade D, #138 of 437 statewide, top 34%, 359 students, 34% FRL) — zoned schools at 44% FRL track the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 64 units permitted in Cambria County in 2024 (0 in 5+ unit buildings).
• Cambria County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $20k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~6 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 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.