9729 Third (lot 5) St

Pymatuning Central, PA 16424

$51,500A-

2 bd · 1.0 ba · 900 sqft · Built 1968 · SingleFamily · Active · 269 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,450/mo
• Mortgage (P&I): −$270
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $790/mo
• Annual: $9,475/yr
• Cap rate: 24.69%
• Cash-on-cash: 65.71%
• DSCR: 3.92
• 1% rule: 2.82%
• Cash to close: $14,420

Investor read

• This is a 2-bed/1.0-bath single-family listed at $52k. Condition is rated poor.
• At list price, monthly cash flow is $790 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• It's been on market 269 days — a 12% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($356 loan paydown + $4k appreciation (8.5% local appreciation)).
• Location reads 64/100 on livability (#1,181 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, schools F.
• Conneaut SD (rural): math 38% / reading 57% proficiency, ranked #241 of 539 in PA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 83 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely dated and worn
• Major: kitchen countertops — worn and outdated
• Major: kitchen appliances — outdated and likely non-functional
• Major: bathroom fixtures — small and outdated, likely non-functional
• Major: exterior siding — weathered and in need of repainting
• Major: interior walls — dated wood paneling and peeling paint