75 Germania St

Galeton, PA 16922

$344,900B+

3 bd · 5.0 ba · 6,650 sqft · Built 1940 · MultiFamily · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,138/mo
• Mortgage (P&I): −$1,809
• Tax + insurance: −$575
• HOA: −$0
• Vac / Maint / Mgmt: −$2,129
• Net cashflow: $5,625/mo
• Annual: $67,506/yr
• Cap rate: 25.87%
• Cash-on-cash: 69.90%
• DSCR: 4.11
• 1% rule: 2.94%
• Cash to close: $96,572

Investor read

• This is a 3-bed/5.0-bath multifamily listed at $345k. Condition is rated fair.
• At list price, monthly cash flow is $6k ($68k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $345k).
• It's been on market 125 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $304k (12.0% below list) — sets the bar for market timing.
• In year one you build about $25k of equity ($2k loan paydown + $22k appreciation (6.5% local appreciation)).
• Location reads 66/100 on livability (#1,038 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: schools D+, health & safety D, amenities F.
• Galeton Area SD (rural): math 35% / reading 50% proficiency, ranked #484 of 658 in PA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 24 units permitted in Potter County in 2024 (0 in 5+ unit buildings).
• Potter County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $97k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 125 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 1940 — 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 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Moderate: kitchen appliances — dated and worn
• Moderate: bathroom fixtures — dated and worn
• Moderate: exterior siding — weathered and faded
• Moderate: interior paint — faded and uneven