303 Hone Ave · Oil City, PA 16301

$70,000

3 bd · 1.0 ba · 1,640 sqft · SingleFamily public records · 63 Days on market

Built 1897 6,969 sqft lot $43/sqft · 26% above area Est $56k · 26% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Appreciation +6.1/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

This Victorian home has all the woodwork of its time. Hardwood floors, high baseboards and a nice staircase. Updated bathroom. There is bonus space on the third floor with the three rooms. * Property is being sold as is, where is with no warranty or repair.

Key facts

• Bonus space
• Hardwood floors
• High baseboards

Tags

• HARDWOOD FLOORS
• HIGH BASEBOARDS
• BONUS SPACE
• STAIRCASE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#704 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Oil City Area SD (town): math 20% / reading 46% proficiency, ranked #436 of 539 in PA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($484 loan paydown + $2k appreciation (2.2% local appreciation)).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.03%
• DSCR: 1.80
• GRM: 5.6

CMA / ARV

• ARV (median comp): $55,591
• List price: $70,000
• Delta: 25.92%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
289 Cedar Ave	0.05mi	3/2.0	1,597 (-3%)	13mo	$114,000	$71	78
272 Linden Ave	0.12mi	3/1.0	1,560 (-5%)	16mo	$35,000	$22	73
413 Bissell Ave	0.19mi	4/1.5 (+1)	1,532 (-7%)	8mo	$169,000	$110	67
305 Hasson Ave	0.07mi	3/1.5	1,797 (+10%)	16mo	$37,500	$21	65
16 Smithman St	0.44mi	3/2.0	1,584 (-3%)	6mo	$115,000	$73	64
605 Cornplanter Ave	0.25mi	2/1.5 (-1)	1,818 (+11%)	4mo	$25,500	$14	60
507 Hoffman Ave	0.18mi	4/2.0 (+1)	1,554 (-5%)	22mo	$37,000	$24	56
123 Washington Ave	0.31mi	3/1.0	1,512 (-8%)	23mo	$47,000	$31	54
18 Ellen Dr	0.73mi	3/2.0	1,728 (+5%)	12mo	$152,000	$88	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.24×
• Total profit: $24,218
• Equity at exit: $28,278

10-year hold

• IRR: 24.4%
• Equity multiple: 4.26×
• Total profit: $63,866
• Equity at exit: $41,241

Cash invested: $19,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16301

• Home prices YoY: 1.0%
• Active inventory: 53
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$125 /mo · $1,499/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $294

Break-even live

Break-even rent $660

Max offer price $70,000

Occupancy floor 66%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 Plummer St Oil City, PA	2.0	1.0	1084	$1,000	$0.92	44d	1	0.14mi
211 Central Ave Unit 1 Oil City, PA	2.0	1.0	1200	$1,000	$0.83	44d	1	0.81mi
815 W 1st St Oil City, PA	4.0	1.5	1674	$1,300	$0.78	44d	1	1.42mi

Listing history 15 events

1. 2026-06-18
   days on market $70,000 Active 63 DOM
2. 2026-06-17
   days on market $70,000 Active 62 DOM
3. 2026-06-16
   days on market $70,000 Active 61 DOM
4. 2026-06-15
   days on market $70,000 Active 60 DOM
5. 2026-06-13
   days on market $70,000 Active 58 DOM
6. 2026-06-12
   days on market $70,000 Active 57 DOM
7. 2026-06-09
   days on market $70,000 Active 54 DOM
8. 2026-06-08
   days on market $70,000 Active 53 DOM
9. 2026-06-08
   days on market $70,000 Active 52 DOM
10. 2026-06-07
    days on market $70,000 Active 51 DOM
11. 2026-06-04
    days on market $70,000 Active 48 DOM
12. 2026-06-02
    days on market $70,000 Active 47 DOM
13. 2026-06-01
    days on market $70,000 Active 46 DOM
14. 2026-05-31
    days on market $70,000 Active 45 DOM
15. 2026-04-16
    listed $89,900 Active 257-char remark

    Show marketing remark (257 chars)

    This Victorian home has all the woodwork of its time. Hardwood floors, high baseboards and a nice staircase. Updated bathroom. There is bonus space on the third floor with the three rooms. * Property is being sold as is, where is with no warranty or repair.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,499 · $125/mo
• Projected year-2 tax: $1,499 · $125/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,389
• − Mortgage interest: −$3,921
• − Property taxes: −$1,499
• − Insurance: −$350
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$2,036
• Taxable income: $2,600
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $2,909/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Oil City Area SD
• NCES district ID: 4218090
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $37,451
• Composite: 27.39/100
• National rank: #6973
• State rank: #436 of 539 in PA

Livability — Oil City

• Score: 71/100
• State rank: #704
• US rank: #6931

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oil City, PA
• Population (ZIP): 15,067

Population outlook (Venango County) Hauer SSP2

• Today (2025): 48,827 people
• By 2030: 46,061 · -5.7%
• By 2040: 39,989 · -18.1%
• By 2050: 34,094 · -30.2%
• By 2075: 22,500 · -53.9%
• By 2100: 13,659 · -72.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Iranian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Venango

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -22.9pp toward R · 2008: -19.2pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+41.4 2016: R+42.4 2012: R+26.3 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 218.0124
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

1 event — show timeline

• 2026-04-16 Listed $89,900 AVBREALTORS

Property tax history

+1.0%/yr

Latest (2026): $1,499 · -1.3% YoY. Source: county tax records.