1203 2nd Ave

Conway, PA 15027

$99,900B

3 bd · 1.5 ba · 2,011 sqft · Built 1890 · SingleFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,448/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$307
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $314/mo
• Annual: $3,764/yr
• Cap rate: 10.06%
• Cash-on-cash: 13.46%
• DSCR: 1.60
• 1% rule: 1.45%
• Cash to close: $27,972

Investor read

• This is a 3-bed/1.5-bath single-family listed at $100k.
• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 27 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#264 in PA, #2,329 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute D+, amenities F.
• Freedom Area SD (suburban): math 24% / reading 45% proficiency, ranked #416 of 539 in PA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Freedom Area El Sch (math 27% / reading 52%, grade F, #947 of 1,518 statewide, top 65%, 438 students, 53% FRL); Freedom Area Ms (math 19% / reading 42%, grade F, #376 of 512 statewide, top 74%, 370 students, 60% FRL); Freedom Area Shs (math 37% / reading 24%, grade F, #344 of 437 statewide, top 79%, 402 students, 48% FRL) — zoned schools average 54% FRL vs 38% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.2% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 272 units permitted in Beaver County in 2024 (80 in 5+ unit buildings).
• Beaver County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $32k; list at $100k implies a 207% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1890 — 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?
• 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.