1152 S Atherton St · State College, PA 16801

$259,000

3 bd · 1.0 ba · 1,104 sqft · Townhouse public records · 2 Days on market

Built 1947 4,792 sqft lot Est $277k · 7% under

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Why this score? — see what drove the D 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 +11.3/30.0
• ARV discount +10.4/15.0
• Schools +5.7/10.0
• Livability +4.5/5.0
• DSCR +3.3/10.0
• Rent growth +3.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime Location Half-Duplex in State College Borough! Location, charm, and opportunity come together in this all-brick half-duplex in the heart of State College’s coveted neighborhood. Just minutes from Penn State University and Downtown, this home is perfect as a PSU getaway, personal residence, or savvy investment. Gleaming hardwood floors flow throughout the main and second levels. The Interior is freshly painted, professionaly cleaned, and move-in ready. The main floor offers a spacious living room, bright dining area, and dedicated kitchen, while upstairs features three light-filled bedrooms and a full bath. Outside, relax or entertain on the large back deck. This property has an

Key facts

• Large back deck
• All-brick
• Half-duplex

Tags

• HALF-DUPLEX
• ALL-BRICK
• HARDWOOD FLOORS
• LARGE BACK DECK
• ACTIVE RENTAL PERMIT

Property features AI

Exterior

• Parking: Two driveway parking spaces (total of 2 garage/parking spaces)
• Utilities: Public water; Public sewer; Electric service for hot water
• Home design: Semi-detached property; Fee simple ownership; Property in good condition; Assessor-reported year built
• Construction: Brick construction; Block foundation; Asphalt roof
• Exterior features: Asphalt driveway

Interior

• Kitchen: Kitchen
• Bedrooms: Three bedrooms on the upper level
• Flooring: Hardwood
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating fuel
• Interior features: Hardwood flooring; Full, unfinished basement
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $259k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (22.2% below list).
• Recommended offer: $202k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 1.6% in State College — 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 89/100 on livability (#29 in PA, #164 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: employment C-, cost of living C-.
• State College Area SD (urban): math 62% / reading 73% proficiency, ranked #41 of 539 in PA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.8%/yr); 158 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 399 units permitted in Centre County in 2024 (44 in 5+ unit buildings).
• This rent runs 39% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Centre County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,585 (22.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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 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.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $277,104
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1152 S Atherton St	0.00mi	3/1.0	1,104 (0%)	0mo	$260,000	$236	100
1172 S Atherton St	0.04mi	3/1.0	1,104 (0%)	1mo	$257,000	$233	97
218 Westerly Pkwy	0.10mi	3/1.0	1,104 (0%)	3mo	$277,000	$251	93
300 S Pugh St #504	0.69mi	2/2.0 (-1)	1,077 (-2%)	8mo	$431,500	$401	48

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

Projected returns pro-forma

-3.0% appreciation · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-48,463
• Equity at exit: $38,618

10-year hold

• IRR: -12.2%
• Equity multiple: 0.28×
• Total profit: $-51,957
• Equity at exit: $22,394

Cash invested: $72,520 (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 16801

• Rents YoY: 2.8%
• Active inventory: 158
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$221 /mo · $2,646/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-94

Break-even live

Break-even rent $2,135

Max offer price $242,370

Occupancy floor 100%

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Bradley Ave State College, PA	1.0–3.0	1.0–1.5	755	$1,730	$2.29	43d	6	0.29mi
424 Waupelani Dr State College, PA	2.0	1.0–2.0	603	$1,495	$2.48	43d	63	0.47mi
200 Highland Ave #501 State College, PA	2.0	1.0	890	$1,800	$2.02	43d	1	0.75mi
679-A Waupelani Dr State College, PA	4.0	1.0–2.5	1335	$2,339	$1.75	43d	47	0.85mi
730 W Highland Aly State College, PA	3.0	1.0	900	$2,199	$2.44	43d	1	0.93mi
616 E College Ave State College, PA	2.0	2.0	975	$2,610	$2.68	43d	2	1.09mi

Listing history 2 events

1. 2026-05-14
   status Pending
2. 2026-05-12
   listed $259,000 Active

ⓘ 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: $2,646 · $221/mo
• Projected year-2 tax: $3,369 · $281/mo
• Expected delta: +$723/yr (+$60/mo · 27.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,190
• − Mortgage interest: −$14,508
• − Property taxes: −$2,646
• − Insurance: −$1,295
• − Repairs & maintenance: −$1,935
• − Management: −$1,935
• − Depreciation: −$7,535
• Taxable loss: −$5,664
• Est. tax savings @ 24.0%: +$1,359
• After-tax cash flow: $230/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: State College Area SD
• NCES district ID: 4222770
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $49,753
• Composite: 57.23/100
• National rank: #1094
• State rank: #41 of 539 in PA

Livability — State College

• Score: 89/100
• State rank: #29
• US rank: #164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: State College, PA
• County: Centre County · 99,000 people
• City population: 64,751
• Metro: State College, PA
• Population (ZIP): 40,774
• Household income: $61,836
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 3590.0

Population outlook (Centre County) Hauer SSP2

• Today (2025): 177,113 people
• By 2030: 185,138 · +4.5%
• By 2040: 196,009 · +10.7%
• By 2050: 205,070 · +15.8%
• By 2075: 217,575 · +22.8%
• By 2100: 230,649 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 9% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 6% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 12% · China, South Korea, Canada
• Languages at home: 86% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

Political lean MEDSL · Centre

• 2024 margin: Toss-up / Even · D 50.9% · R 48.1% · Other 1.0%
• 2008→2024 swing: -9.0pp toward R · 2008: 11.8pp · 2024: 2.8pp
• All cycles: 2024: D+2.8 2020: D+4.8 2016: D+1.9 2012: R+0.0 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.33%
• Current HPI: 208.2423
• Rent YoY: ▲ 2.77%
• Metro: State College, PA
• 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

2 events — show timeline

• 2026-05-14 Pending — BRIGHT MLS
• 2026-05-12 Listed $259,000 BRIGHT MLS

Property tax history

+3.4%/yr

Latest (2026): $2,646 · +4.9% YoY. Source: county tax records.