302 Proctor Ave

Elkland, PA 16920

$70,000B

3 bd · 2.0 ba · 1,352 sqft · Built 1901 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,179/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$261
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $304/mo
• Annual: $3,645/yr
• Cap rate: 12.45%
• Cash-on-cash: 22.00%
• DSCR: 1.98
• 1% rule: 1.68%
• Cash to close: $19,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $794 of equity ($484 loan paydown + $310 appreciation (0.4% local appreciation)).
• Location reads 65/100 on livability (#1,171 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Northern Tioga SD (rural): math 34% / reading 54% proficiency, ranked #301 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clark Wood El Sch (math 37% / reading 52%, grade F, #815 of 1,518 statewide, top 56%, 294 students, 100% FRL); Williamson Shs (math 26% / reading 50%, grade F, #285 of 437 statewide, top 65%, 535 students, 100% FRL) — zoned schools average 100% FRL vs 45% district-wide (55 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.0% of price; flood insurance adds $56/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 32 units permitted in Tioga County in 2024 (0 in 5+ unit buildings).
• Tioga County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $22k; list at $70k implies a 217% gain — meaningful room to come down on a strong offer.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — 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

• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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.