305 Hone Ave · Oil City, PA 16301

$109,900

4 bd · 1.5 ba · 2,262 sqft · SingleFamily public records · 46 Days on market

Built 1897 6,969 sqft lot $49/sqft · 20% above area Est $91k · 20% over

---

Why this score? — see what drove the C+ 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +6.8/10.0
• Appreciation +6.1/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to this recently refreshed 4-bedroom, 2-bath home offering modern updates and practical space for comfortable living. Step inside to find a brand-new kitchen featuring updated cabinetry, and fixtures both bathrooms have been tastefully renovated, and the home boasts new flooring and fresh paint throughout, giving it a clean, move-in-ready feel. Additional improvements include a new hot water tank and some new windows, adding efficiency and peace of mind. Outside, you'll appreciate the convenience of off-street parking for up to 3 vehicles, a valuable feature for homeowners and guests alike. This property is ideal for buyers seeking a turnkey home with updated systems and stylish upg

Key facts

• New kitchen
• Fresh paint
• Renovated bathrooms

Tags

• NEW KITCHEN
• UPDATED CABINETRY
• RENOVATED BATHROOMS
• NEW FLOORING
• FRESH PAINT
• NEW HOT WATER TANK

Property features AI

Finance

• Other: Approximately 2,262 total finished area; Partial basement

Exterior

• Parking: No dedicated parking
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers; Cable available
• Home design: Residential property; Multi-level / split-level, two stories; Wood siding exterior; Frame construction
• Construction: Composition roof; Combination foundation
• Exterior features: Front porch; Lot approximately 50 x 140 (0.16 acre); Residential zoning

Interior

• Kitchen: Electric water heater
• Flooring: Tile; Vinyl; Other
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: High-speed internet
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $110k.

Deal economics

• 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 $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#704 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Oil City Area SD (town): math 20% / reading 46% proficiency, ranked #436 of 539 in PA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hasson Heights Sch (math 22% / reading 42%, grade F, #1,094 of 1,518 statewide, top 73%, 385 students, 100% FRL); Oil City Area Ms (math 11% / reading 46%, grade F, #395 of 512 statewide, top 78%, 582 students, 100% FRL); Oil City Shs (math 47% / reading 24%, grade F, #305 of 437 statewide, top 70%, 603 students, 74% FRL) — zoned schools average 92% FRL vs 52% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 42 units permitted in Venango County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($760 loan paydown + $2k appreciation (2.2% local appreciation)).
• Venango County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $110k implies a 450% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — 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. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 7.0

CMA / ARV

• ARV (median comp): $91,484
• List price: $109,900
• Delta: 20.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Hoffman Ave	0.18mi	4/2.0	2,400 (+6%)	7mo	$7,000	$3	74
33 Hone Ave	0.32mi	3/1.0 (-1)	2,184 (-3%)	7mo	$40,000	$18	66
284 Linden Ave	0.12mi	4/1.5	1,946 (-14%)	12mo	$107,000	$55	62
223 Cedar Ave	0.14mi	3/1.0 (-1)	2,028 (-10%)	15mo	$95,000	$47	57
305 E Third St	0.75mi	3/1.5 (-1)	2,016 (-11%)	23mo	$20,500	$10	23

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

Projected returns pro-forma

2.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.91×
• Total profit: $27,893
• Equity at exit: $44,397

10-year hold

• IRR: 18.8%
• Equity multiple: 3.54×
• Total profit: $78,228
• Equity at exit: $64,748

Cash invested: $30,772 (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 16301

• Home prices YoY: 1.0%
• Active inventory: 52
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$101 /mo · $1,208/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $304

Break-even live

Break-even rent $915

Max offer price $109,900

Occupancy floor 72%

Sensitivity live

Price	-10% $366	-5% $335	+0% $304	+5% $273	+10% $242
Rent	-10% $201	-5% $253	+0% $304	+5% $356	+10% $407
Rate	-1.0pp $360	-0.5pp $332	base $304	+0.5pp $276	+1.0pp $247

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 W 1st St Oil City, PA	4.0	1.5	1674	$1,300	$0.78	45d	1	1.42mi

Listing history 18 events

1. 2026-06-21
   days on market $109,900 Active 46 DOM
2. 2026-06-21
   days on market $109,900 Active 45 DOM
3. 2026-06-18
   days on market $109,900 Active 43 DOM
4. 2026-06-17
   days on market $109,900 Active 42 DOM
5. 2026-06-16
   days on market $109,900 Active 41 DOM
6. 2026-06-15
   days on market $109,900 Active 40 DOM
7. 2026-06-13
   days on market $109,900 Active 38 DOM
8. 2026-06-12
   days on market $109,900 Active 37 DOM
9. 2026-06-09
   days on market $109,900 Active 34 DOM
10. 2026-06-08
    days on market $109,900 Active 33 DOM
11. 2026-06-08
    days on market $109,900 Active 32 DOM
12. 2026-06-07
    days on market $109,900 Active 31 DOM
13. 2026-06-04
    days on market $109,900 Active 28 DOM
14. 2026-06-02
    days on market $109,900 Active 27 DOM
15. 2026-06-01
    days on market $109,900 Active 26 DOM
16. 2026-05-31
    days on market $109,900 Active 25 DOM
17. 2026-05-06
    listed $109,900 Active 705-char remark
18. 1993-08-09
    soldstatus $20,000

ⓘ 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: $1,208 · $101/mo
• Projected year-2 tax: $1,472 · $123/mo
• Expected delta: +$264/yr (+$22/mo · 21.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$6,156
• − Property taxes: −$1,208
• − Insurance: −$550
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,197
• Taxable income: $1,993
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $3,172/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: Oil City Area SD
• NCES district ID: 4218090
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $37,451
• Composite: 27.39/100
• National rank: #6973
• State rank: #436 of 539 in PA

Livability — Oil City

• Score: 71/100
• State rank: #704
• US rank: #6931

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oil City, PA
• Population (ZIP): 15,067

Population outlook (Venango County) Hauer SSP2

• Today (2025): 48,827 people
• By 2030: 46,061 · -5.7%
• By 2040: 39,989 · -18.1%
• By 2050: 34,094 · -30.2%
• By 2075: 22,500 · -53.9%
• By 2100: 13,659 · -72.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Iranian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Venango

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -22.9pp toward R · 2008: -19.2pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+41.4 2016: R+42.4 2012: R+26.3 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 218.0124
• Rent YoY: —
• Metro: —
• 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

+449.5% since first listed

2 events — show timeline

• 2026-05-06 Listed $109,900 AVBREALTORS
• 1993-08-09 Sold (Public Records) $20,000 Public Records

Property tax history

+1.1%/yr

Latest (2026): $1,208 · -1.3% YoY. Source: county tax records.