101 Kirby Driveway

New Freeport, PA 15352

$15,900D+

2 bd · 1.0 ba · 1,084 sqft · Built 1900 · SingleFamily · Pending · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,006/mo
• Mortgage (P&I): −$83
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $629/mo
• Annual: $7,552/yr
• Cap rate: 57.98%
• Cash-on-cash: 184.61%
• DSCR: 9.21
• 1% rule: 6.33%
• Cash to close: $4,452

Investor read

• This is a 2-bed/1.0-bath single-family listed at $16k.
• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• It's been on market 45 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• In year one you build about $587 of equity ($110 loan paydown + $477 appreciation (3.0% local appreciation)).
• Location reads 45/100 on livability (#1,724 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• West Greene SD (rural): math 32% / reading 54% proficiency, ranked #302 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.