110 Lucas Rd

Boggs, PA 16823

$170,000D

3 bd · 1.0 ba · 2,055 sqft · Built 1938 · Other · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,607/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$325
• HOA: −$0
• Vac / Maint / Mgmt: −$337
• Net cashflow: $53/mo
• Annual: $632/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 0.95%
• Cash to close: $47,600

Investor read

• This is a 3-bed/1.0-bath other listed at $170k.
• At list price, monthly cash flow is $53 ($632/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (5.5% below list).
• It's been on market 21 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (5.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bald Eagle Area SD (rural): math 46% / reading 51% proficiency, ranked #199 of 539 in PA (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 200 active listings in the ZIP; solid renter incomes; 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.

Questions for listing agent

• Built in 1938 — 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.