650 Clairmont Dr

East Altoona, PA 16601

$52,900B-

3 bd · 2.0 ba · 1,456 sqft · Built 2000 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,192/mo
• Mortgage (P&I): −$277
• Tax + insurance: −$88
• HOA: −$406
• Vac / Maint / Mgmt: −$250
• Net cashflow: $170/mo
• Annual: $2,045/yr
• Cap rate: 10.16%
• Cash-on-cash: 13.81%
• DSCR: 1.61
• 1% rule: 2.25%
• Cash to close: $14,812

Investor read

• This is a 3-bed/2.0-bath single-family listed at $53k. Condition is rated fair.
• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 34% of rent.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 23y 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 $35k; list at $53k implies a 51% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Cluttered and in need of cleaning
• Major: Bathroom fixtures — Cluttered and in need of cleaning
• Major: Exterior siding — Weathered and in need of repainting
• Major: Flooring — Worn and in need of replacement
• Major: Interior walls — Dingy and in need of painting
• Major: Landscaping — Overgrown and in need of trimming