1411 N 5th Ave

Altoona, PA 16601

$104,900B

4 bd · 1.0 ba · 1,570 sqft · Built 1906 · SingleFamily · Pending · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,305/mo
• Mortgage (P&I): −$550
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$274
• Net cashflow: $373/mo
• Annual: $4,482/yr
• Cap rate: 10.57%
• Cash-on-cash: 15.26%
• DSCR: 1.68
• 1% rule: 1.24%
• Cash to close: $29,372

Investor read

• This is a 4-bed/1.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 95 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• 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.
• Zoned schools: Altoona Area Jr Hs (math 21% / reading 45%, grade F, #346 of 512 statewide, top 69%, 1,727 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 186 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $105k implies a 854% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.6% vs local median 5.9% in Altoona — 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.

Questions for listing agent

• It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1906 — 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 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.
• 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.