631 N Tionesta Ave

Kane, PA 16735

$110,000D

3 bd · 1.5 ba · 1,148 sqft · Built 1910 · Other · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $946/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $-12/mo
• Annual: $-144/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $30,800

Investor read

• This is a 3-bed/1.5-bath other listed at $110k.
• At list price, monthly cash flow is $-12 ($-144/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (14.0% below list).
• It's been on market 32 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (14.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.7%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#901 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Kane Area SD (rural): math 35% / reading 54% proficiency, ranked #291 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kane Area El Sch (math 37% / reading 51%, grade F, #858 of 1,518 statewide, top 57%, 433 students, 100% FRL); Kane Area Ms (math 22% / reading 57%, grade F, #268 of 512 statewide, top 53%, 222 students, 100% FRL); Kane Area Hs (math 67%, 329 students, 49% FRL) — zoned schools average 83% FRL vs 40% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 29 units permitted in McKean County in 2024 (0 in 5+ unit buildings).
• McKean County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade 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 32 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.