10329 Route 6

Delmar, PA 16901

$197,500D+

3 bd · 1.0 ba · 2,016 sqft · Built 1975 · SingleFamily · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,600/mo
• Mortgage (P&I): −$1,036
• Tax + insurance: −$379
• HOA: −$0
• Vac / Maint / Mgmt: −$336
• Net cashflow: $-151/mo
• Annual: $-1,813/yr
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• 1% rule: 0.81%
• Cash to close: $55,300

Investor read

• This is a 3-bed/1.0-bath single-family listed at $198k.
• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (19.0% below list).
• It's been on market 100 days — a 9% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (19.0% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Wellsboro Area SD (rural): math 37% / reading 58% proficiency, ranked #230 of 539 in PA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Don Gill El Sch (math 33% / reading 51%, grade F, #883 of 1,518 statewide, top 61%, 318 students, 55% FRL); Rock L Butler Ms (math 32% / reading 61%, grade D+, #172 of 512 statewide, top 35%, 480 students, 50% FRL); Wellsboro Area Hs (math 77%, 439 students, 45% FRL) — zoned schools average 50% FRL vs 31% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 35 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Current owner paid $58k; list at $198k implies a 238% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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 100 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.