212 Thickhead Mountain Rd

Potter, PA 16828

$149,900C+

3 bd · 1.0 ba · 1,258 sqft · Built 1960 · SingleFamily · Active · 252 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,877/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$394
• Net cashflow: $447/mo
• Annual: $5,366/yr
• Cap rate: 9.87%
• Cash-on-cash: 12.78%
• DSCR: 1.57
• 1% rule: 1.25%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k. Condition is rated fair.
• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 252 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Penns Valley Area SD (rural): math 48% / reading 57% proficiency, ranked #144 of 539 in PA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Penns Valley Area El And Intrmd Sch (math 54% / reading 64%, grade B-, #420 of 1,518 statewide, top 28%, 389 students, 42% FRL); Penns Valley Area Jshs (math 40% / reading 45%, grade F, #226 of 437 statewide, top 52%, 662 students, 28% FRL).
• Market conditions: 37 active listings in the ZIP; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1960 — 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.
• 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: exterior siding — significant peeling and wear
• Major: interior paint — peeling and uneven
• Major: bathroom — basic fixtures, no shower or tub