1321 Otter St · Franklin, PA 16323

$140,000

6 bd · 3.0 ba · 2,666 sqft · MultiFamily public records · 13 Days on market

Built 1900 6,098 sqft lot Est $117k · 19% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Good downtown investment property with long rental history & nice size apartments - each with their own porches. Newer H. W. heating, newer carpets, some new windows, modern kitchens & baths. This tri-plex offers excellent income potential. Note: Apartment C is up/down & square footage is for both floors.

Key facts

• 6,098 sq ft lot
• Built 1900
• Listed 13 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; 100 Amp electric service with circuit breakers; Cable available
• Home design: Residential income property; Metal roof; Wood siding construction; R-2 zoning
• Construction: Combination foundation
• Exterior features: Porch

Interior

• Kitchen: Refrigerator; Gas water heater
• Flooring: Vinyl flooring; Other flooring
• Heating & cooling: Baseboard heating; Hot water heating; Has cooling
• Interior features: Partial basement; 13 total rooms; No fireplace

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 19.6% vs local median 5.8% in Franklin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#812 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, amenities F.
• Franklin Area SD (rural): math 29% / reading 46% proficiency, ranked #388 of 539 in PA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central El Sch (math 17% / reading 41%, grade F, #1,146 of 1,518 statewide, top 76%, 397 students, 100% FRL); Franklin Area Jshs (math 28% / reading 44%, grade F, #300 of 437 statewide, top 70%, 834 students, 84% FRL) — zoned schools average 92% FRL vs 46% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $63k; list at $140k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $140,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.25% ✓
• Cap rate: 19.56%
• Cash-on-cash: 47.37%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $117,304
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1339-1341 Franklin Ave	0.06mi	6/2.0	2,496 (-6%)	9mo	$110,000	$44	75
1432 Otter St	0.14mi	6/2.0	2,624 (-2%)	16mo	$67,000	$26	74
914-916 Buffalo St	0.67mi	5/3.0 (-1)	2,470 (-7%)	12mo	$120,000	$49	42

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

Projected returns pro-forma

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

5-year hold

• IRR: 61.4%
• Equity multiple: 5.46×
• Total profit: $174,834
• Equity at exit: $126,123

10-year hold

• IRR: 54.9%
• Equity multiple: 12.16×
• Total profit: $437,424
• Equity at exit: $271,989

Cash invested: $39,200 (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 16323

• Home prices YoY: 12.2%
• Active inventory: 51
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,155 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $1,547

Break-even live

Break-even rent $1,196

Max offer price $140,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,627	-5% $1,587	+0% $1,547	+5% $1,508	+10% $1,468
Rent	-10% $1,298	-5% $1,423	+0% $1,547	+5% $1,672	+10% $1,797
Rate	-1.0pp $1,618	-0.5pp $1,583	base $1,547	+0.5pp $1,511	+1.0pp $1,474

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,156
Total (3 units)			$3,155

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $140,000 Active 13 DOM
2. 2026-06-19
   days on market $140,000 Active 11 DOM
3. 2026-06-18
   days on market $140,000 Active 10 DOM
4. 2026-06-17
   days on market $140,000 Active 9 DOM
5. 2026-06-16
   days on market $140,000 Active 8 DOM
6. 2026-06-15
   days on market $140,000 Active 7 DOM
7. 2026-06-14
   days on market $140,000 Active 5 DOM
8. 2026-06-13
   days on market $140,000 Active 4 DOM
9. 2026-06-10
   days on market $140,000 Active 2 DOM
10. 2026-06-09
    remarks 411-char remark
11. 2026-06-09
    listed $140,000 Active 1 DOM

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $2,021 · $168/mo
• Expected delta: +$191/yr (+$16/mo · 10.4%)

ⓘ 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 8 d/yr ≥93°F today · 20 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: $37,860
• − Mortgage interest: −$7,842
• − Property taxes: −$1,831
• − Insurance: −$700
• − Repairs & maintenance: −$3,029
• − Management: −$3,029
• − Depreciation: −$4,073
• Taxable income: $17,357
• Est. tax owed @ 24.0%: −$4,166
• After-tax cash flow: $14,403/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: Franklin Area SD
• NCES district ID: 4210200
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 46% ▼ -12.00%
• Median HH income: $43,451
• Composite: 31.73/100
• National rank: #5910
• State rank: #388 of 539 in PA

Livability — Franklin

• Score: 69/100
• State rank: #812
• US rank: #8260

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, PA
• Population (ZIP): 14,694

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2%
• Common ancestry: Romanian 4% Iranian 3% Serbian 2%
• Foreign-born: 1% · Canada

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: ▲ 26.68%
• Current HPI: 245.9766
• 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

+211.1% since first listed

3 events — show timeline

• 2026-06-08 Listed $140,000 AVBREALTORS
• 2008-08-26 Sold (MLS) $63,000 AVBREALTORS
• 2001-06-04 Sold (MLS) $45,000 AVBREALTORS

Property tax history

+1.4%/yr

Latest (2026): $1,831 · +3.3% YoY. Source: county tax records.