148 Susquehanna Ave

South Renovo, PA 17764

$34,995B

3 bd · 1.0 ba · 1,734 sqft · Built 1926 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,219/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $689/mo
• Annual: $8,272/yr
• Cap rate: 29.93%
• Cash-on-cash: 84.42%
• DSCR: 4.76
• 1% rule: 3.48%
• Cash to close: $9,799

Investor read

• This is a 3-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• It's been on market 35 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#1,116 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Keystone Central SD (town): math 32% / reading 44% proficiency, ranked #384 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bucktail Hs (math 44%, 114 students, 49% FRL).
• Watch-outs: property tax is 2.6% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 44 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• Clinton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $15k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.