516 Walnut St · South Philipsburg, PA 16866

$175,000

3 bd · 1.0 ba · 1,188 sqft · Other public records · 3 Days on market

Built 1900 0.26 ac lot $147/sqft · at area comps Est $175k · at est.

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Why this score? — see what drove the C 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 +17.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Down Walnut Street in Philipsburg sits this charming two-bedroom, one-bathroom home featuring many UPDATES that enhance its original beauty. From the first glance at this home, you’ll notice its newer siding, windows, and roof. Entering the front of the home, follow directly from the large entryway and into the main living area including a spacious family room to your right and living room to your left. Into the cozy kitchen featuring all APPLIANCES, an island, and paired with a spacious pantry complete with metal shelving. Off of the kitchen is the naturally lit dining area which can be used as direct access to the deck that overlooks the back yard. Through the living area and up the stairs, you are met with two generously sized bedrooms both complete with closets, and the full, recently updated bathroom with a glass-door shower, vanity, and linen shelving. The basement is comprised of the major, recently updated components of the home such as electrical, water heater, furnace, and oil tank, plenty of storage space, and home of the washer and dryer which are also included! Out of the dining area door, down off the deck, you are met with the original stone walkway that leads you through the LARGE BACKYARD, past the firepit, the clothesline, and right to the large, two-car GARAGE that sits beside the spacious WOODSHOP. If you are searching for a low-maintenance home within 35 minutes to State College, or close proximity to the Philipsburg-Osceola School, you don’t want to miss out on this affordable opportunity. Call today!

Key facts

• Firepit area
• Updated bath
• Farmhouse sink

Tags

• UPDATED BATH
• FARMHOUSE SINK
• LARGE PANTRY
• BACK DECK
• FIREPIT AREA
• DETACHED GARAGE

Property features AI

Finance

• Other: 2+ access exits (accessibility feature)

Exterior

• Parking: Detached 2-car garage with front entry and additional storage area; Total of 4 garage/parking spaces; Driveway parking (1 space); Off-street parking (1 space)
• Utilities: Public water; Public sewer
• Home design: Detached property; Shingle roof; Vinyl siding; Double-pane, energy-efficient windows; Fee simple ownership
• Construction: Built (year source: Assessor); Block and stone foundation
• Exterior features: Play area; Sidewalks; Outbuilding(s) including shed/shop; Above-grade and below-grade additional structures

Interior

• Kitchen: Electric range/oven; Range hood; Refrigerator
• Bedrooms: 2 bedrooms on the upper level
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Oil-fired heating; Electric hot water
• Interior features: Ceiling fan(s); Dining area; Kitchen island; Insulated and storm doors; Other interior features
• Laundry & utility: Washer and dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/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 $153k (12.5% below list).
• Recommended offer: $153k (12.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 52/100 on livability (#1,689 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools D+, amenities F, commute F.
• Philipsburg-Osceola Area SD (town): math 42% / reading 52% proficiency, ranked #258 of 539 in PA (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 40 active listings in the ZIP; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $135k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,180 (12.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 7.13%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 9.5

CMA / ARV

• ARV (median comp): $175,169
• List price: $175,000
• Delta: -0.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 3.10×
• Total profit: $103,078
• Equity at exit: $157,654

10-year hold

• IRR: 23.2%
• Equity multiple: 7.07×
• Total profit: $297,294
• Equity at exit: $339,987

Cash invested: $49,000 (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 16866

• Home prices YoY: 12.0%
• Active inventory: 40
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,532 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $123

Break-even live

Break-even rent $1,376

Max offer price $175,000

Occupancy floor 87%

Sensitivity live

Price	-10% $222	-5% $172	+0% $123	+5% $73	+10% $24
Rent	-10% $2	-5% $62	+0% $123	+5% $183	+10% $244
Rate	-1.0pp $211	-0.5pp $167	base $123	+0.5pp $77	+1.0pp $31

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-04
   status Pending 834-char remark
2. 2026-05-01
   listed $175,000 Active 834-char remark
3. 2024-01-17
   soldstatus $135,000
4. 2024-01-12
   soldstatus $135,000 Closed 1560-char remark

   Show marketing remark (1560 chars)

   Down Walnut Street in Philipsburg sits this charming two-bedroom, one-bathroom home featuring many UPDATES that enhance its original beauty. From the first glance at this home, you’ll notice its newer siding, windows, and roof. Entering the front of the home, follow directly from the large entryway and into the main living area including a spacious family room to your right and living room to your left. Into the cozy kitchen featuring all APPLIANCES, an island, and paired with a spacious pantry complete with metal shelving. Off of the kitchen is the naturally lit dining area which can be used as direct access to the deck that overlooks the back yard. Through the living area and up the stairs, you are met with two generously sized bedrooms both complete with closets, and the full, recently updated bathroom with a glass-door shower, vanity, and linen shelving. The basement is comprised of the major, recently updated components of the home such as electrical, water heater, furnace, and oil tank, plenty of storage space, and home of the washer and dryer which are also included! Out of the dining area door, down off the deck, you are met with the original stone walkway that leads you through the LARGE BACKYARD, past the firepit, the clothesline, and right to the large, two-car GARAGE that sits beside the spacious WOODSHOP. If you are searching for a low-maintenance home within 35 minutes to State College, or close proximity to the Philipsburg-Osceola School, you don’t want to miss out on this affordable opportunity. Call today!

5. 2023-12-12
   status Pending 1560-char remark

   Show marketing remark (1560 chars)

   Down Walnut Street in Philipsburg sits this charming two-bedroom, one-bathroom home featuring many UPDATES that enhance its original beauty. From the first glance at this home, you’ll notice its newer siding, windows, and roof. Entering the front of the home, follow directly from the large entryway and into the main living area including a spacious family room to your right and living room to your left. Into the cozy kitchen featuring all APPLIANCES, an island, and paired with a spacious pantry complete with metal shelving. Off of the kitchen is the naturally lit dining area which can be used as direct access to the deck that overlooks the back yard. Through the living area and up the stairs, you are met with two generously sized bedrooms both complete with closets, and the full, recently updated bathroom with a glass-door shower, vanity, and linen shelving. The basement is comprised of the major, recently updated components of the home such as electrical, water heater, furnace, and oil tank, plenty of storage space, and home of the washer and dryer which are also included! Out of the dining area door, down off the deck, you are met with the original stone walkway that leads you through the LARGE BACKYARD, past the firepit, the clothesline, and right to the large, two-car GARAGE that sits beside the spacious WOODSHOP. If you are searching for a low-maintenance home within 35 minutes to State College, or close proximity to the Philipsburg-Osceola School, you don’t want to miss out on this affordable opportunity. Call today!

6. 2023-12-06
   listed $139,900 Active 1560-char remark

   Show marketing remark (1560 chars)

   Down Walnut Street in Philipsburg sits this charming two-bedroom, one-bathroom home featuring many UPDATES that enhance its original beauty. From the first glance at this home, you’ll notice its newer siding, windows, and roof. Entering the front of the home, follow directly from the large entryway and into the main living area including a spacious family room to your right and living room to your left. Into the cozy kitchen featuring all APPLIANCES, an island, and paired with a spacious pantry complete with metal shelving. Off of the kitchen is the naturally lit dining area which can be used as direct access to the deck that overlooks the back yard. Through the living area and up the stairs, you are met with two generously sized bedrooms both complete with closets, and the full, recently updated bathroom with a glass-door shower, vanity, and linen shelving. The basement is comprised of the major, recently updated components of the home such as electrical, water heater, furnace, and oil tank, plenty of storage space, and home of the washer and dryer which are also included! Out of the dining area door, down off the deck, you are met with the original stone walkway that leads you through the LARGE BACKYARD, past the firepit, the clothesline, and right to the large, two-car GARAGE that sits beside the spacious WOODSHOP. If you are searching for a low-maintenance home within 35 minutes to State College, or close proximity to the Philipsburg-Osceola School, you don’t want to miss out on this affordable opportunity. Call today!

ⓘ 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: $1,160 · $97/mo
• Projected year-2 tax: $1,963 · $164/mo
• Expected delta: +$802/yr (+$67/mo · 69.1%)

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

Taxation est. · year 1

• Rental income: $18,382
• − Mortgage interest: −$9,803
• − Property taxes: −$1,160
• − Insurance: −$875
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$5,091
• Taxable loss: −$1,489
• Est. tax savings @ 24.0%: +$357
• After-tax cash flow: $1,831/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: Philipsburg-Osceola Area SD
• NCES district ID: 4219020
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $40,645
• Composite: 39.37/100
• National rank: #3977
• State rank: #258 of 539 in PA

Livability — South Philipsburg

• Score: 52/100
• State rank: #1689
• US rank: #24968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Philipsburg, PA
• Population (ZIP): 8,924

Population outlook (Centre County) Hauer SSP2

• Today (2025): 177,113 people
• By 2030: 185,138 · +4.5%
• By 2040: 196,009 · +10.7%
• By 2050: 205,070 · +15.8%
• By 2075: 217,575 · +22.8%
• By 2100: 230,649 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Black 6% Two or more races 3%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Romanian 7% Slovak 2% Polish 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Centre

• 2024 margin: Toss-up / Even · D 50.9% · R 48.1% · Other 1.0%
• 2008→2024 swing: -9.0pp toward R · 2008: 11.8pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+4.8 2016: D+1.9 2012: R+0.0 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.47%
• Current HPI: 284.148
• 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

+25.1% since first listed

6 events — show timeline

• 2026-05-04 Pending — BRIGHT MLS
• 2026-05-01 Listed $175,000 BRIGHT MLS
• 2024-01-17 Sold (Public Records) $135,000 Public Records
• 2024-01-12 Sold (MLS) $135,000 BRIGHT MLS
• 2023-12-12 Pending — BRIGHT MLS
• 2023-12-06 Listed $139,900 BRIGHT MLS

Property tax history

+1.7%/yr

Latest (2026): $1,160 · +3.7% YoY. Source: county tax records.