Real Estate Portfolio of 15 Properties

Annual Income:                                                                                   $121,886.40

Taxes:                                                                                                     $6,700.00

Insurance:                                                                                              $2,700.00

Expenses/Utilities:                                                                                  $6,287.00

   NOI:                                                                                                     $106,199.40

Cap Rate:                                                                                                  7.97%

Offering Price:                                                                                   $1,332,489.00

 

 

 

Address - Zip

Units

Monthly Income

30 High St.-16701

1

$600.00

47E. Main-16701*

3

$1950.00

44 Elm St.-16701*

2

$875.00

49 Rochester-16701

1

$552.00 M

46 Poplin- 16701

1

$465.00

11 Colegrove- 16701

1

$700.00

54 Jefferson- 16701

1

$553.40 M

96 Cornen- 16701

1

$443.00

161 E. Main 16701

1

$600.00

22 Railroad 16730

1

$600.00

23 Roberts 16701

1

$437.16 M

544 Route 446 16749

1

$131.64 M

125 West Main 16749

1C

$2000.00 Retail

Windfall Rd. 16731

0

.5 Acre Lot

Coleville Rd. 16749

0

1.3 Acre Lot

Coin Op Laundry

2*

$250.00

TOTALS:

17

$10,157.20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

·          4 machines in 2 buildings

3 Properties on land contract first mortgages and one 2nd mortgage denoted by M

RDJC, Inc. is an investment corporation with real estate holdings in the McKean County area of Pennsylvania. This offering is of 15 properties including 4 notes for land contract sale on 4 of the properties above. The notes are seasoned and have 100% IO-1 paid as agreed status. The properties are SFR and MFR rental units with coin operated laundry units in place in two of the properties. The majority of the tenants are long term with over 3 to 5 years in the properties. There are also 2 building lots in this offer. Several Units are contacted by HUD, Managed income tenants, and McKean County CYS. 1.3 Acre lot with septic system permit in place for 1 to 4 family building. Half acre lot great for camp or mobile home/RV would also be great for modular home single family. The information in this offer is not guaranteed to be accurate: See disclaimer above. For further information contact: Dan Merrick, CFO (814) 887-5895 or Mobile (814) 598-1447 Home (814) 887-5895 Fax (814) 887-5224. RDJC, Inc. 125 West Main St. Smethport, PA  16749.

BROKER CONTACT INFORMATION: Rocking Horse Realty, 129 W. Main Street, Smethport, PA 16749 Charles Cooper, CRS, GRI, Broker  Phone: (814) 887-2818 Toll-free: 1 (888) 823-8127 Fax: (814) 887-4116 E-mail: RockingHorse@penn.com

 

 

 

 

 

Address - Zip

Photo

30 High St.-16701

47E. Main-16701*

44 Elm St.-16701*

161 E. Main 16701

22 Railroad 16730

23 Roberts 16701

544 Route 446 16749

Windfall Rd. 16731

Windfall Road, Eldred, PA

Coleville Rd. 16749

Coleville Rd., Keating Township, PA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

49 Rochester-16701

46 Poplin- 16701

11 Colegrove- 16701

54 Jefferson- 16701

96 Cornen- 16701

125 West Main 16749

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Community Characteristics: Bradford, PA

 

These distinctive characteristics represent factors which have a strong influence on this community. Factors are considered "distinctive" if this community falls into the top 25% for these characteristics nationally.

 

16701

Characteristics
  • Very Rapid Population Growth and / or High Residential Turnover

Closest Airport

BRADFORD REGIONAL(5 miles)

Closest 2 Year College

OLEAN BUSINESS INSTITUTE(19 miles)

Closest 4 Year College

UNIV OF PITTSBURGH AT BRADFORD(3 miles)

Closest Major Sports Team

Buffalo Bills (65 Miles) Pittsburgh Steelers  (150 Miles)

Population

 

16701

Pennsylvania

Population

13,194

12,469,371

Population Density (people/mile)

75

276

Population Growth (since 2000)

-7%

2%

Male

6,336

6,055,244

Female

6,858

6,414,127

Median Age

38.72

38.58

Age Distribution

 

 

 

 

 

 

 

Household

 

16701

Pennsylvania

Number of Households

5,510

4,836,935

Average Household Size

2.31

2.48

Household: With Children

1,773

1,553,674

Household: With no Children

3,738

3,283,261

Household: Family

3,390

3,220,607

Household: Non-Family

2,120

1,616,328

Total Dwelling Units

6,335

5,450,054

Marital Status

 

 

 

 

 

 

 

 

 

 

Housing

 

16701

Pennsylvania

Median Home Price

50,000

27%

In Current Residence 5+ Years

45%

42%

Annual Residential Turnover

17%

17%

Median Years in Residence

4.34

3.99

Median Dwelling Age

60

43

Housing Type

 

Transportation

Travel to Work

 

 

 

Income

 

16701

Pennsylvania

Median Household Income

$33,475

$45,389

Average Household Income

$43,187

$58,718

Average Income Change (since 2000)

11%

13%

Per Capita Income

$18,872

$23,603

Sales Tax Rate

6%

6%

Sales Tax Type

CO

ST

Median Disposable Income

$29,668

$39,194

Household Income by Dollar Range

Median Income by Age

 

 

Employment

Employment by Industry

Employment by Occupation

 

 

 

 

 

 

 

 

 

 

Net Worth

 

16701

Pennsylvania

Median Household Net Worth

$36,663

$42,528

Average Household Net Worth

$126,279

$140,489

Median Home Price

$50,000

$205,500

Household Net Worth by Dollar Range

Median Value of Assets

 

 

Median Value of Debts

Cost of Living

 

16701

Pennsylvania

Average Total Household Expenditure

$39,705

$48,250

Household Expenditure Index (100=National Average)

78

95

Cost of Living Index
(100=National Average)

 

 

 

 

Climate

 

16701

Pennsylvania

Annual Precipitation (inches)

46.75

42.53

Average Temperature (°F)

Weather Index
(100 = National Average)

 

 

 

 

 

 

 

 

 

 

 

 

 

Community Characteristics: Smethport, PA

These distinctive characteristics represent factors which have a strong influence on this community. Factors are considered "distinctive" if this community falls into the top 25% for these characteristics nationally.

 

16749

Characteristics
  • Significant Percentage of Family Households
  • Moderate Seasonal Residency Pattern

Closest Airport

BRADFORD REGIONAL(10 miles)

Closest 2 Year College

OLEAN BUSINESS INSTITUTE(21 miles)

Closest 4 Year College

UNIV OF PITTSBURGH AT BRADFORD(14 miles)

Closest Major Sports Team

Pittsburgh Steelers/Pirates (150 miles)

Population

 

16749

Pennsylvania

Population

2,144

12,469,371

Population Density (people/mile)

16

276

Population Growth (since 2000)

-4%

2%

Male

1,072

6,055,244

Female

1,072

6,414,127

Median Age

41.48

38.58

Age Distribution

 

 

 

 

Household

 

16749

Pennsylvania

Number of Households

811

4,836,935

Average Household Size

2.47

2.48

Household: With Children

279

1,553,674

Household: With no Children

530

3,283,261

Household: Family

589

3,220,607

Household: Non-Family

223

1,616,328

Total Dwelling Units

1,089

5,450,054

Marital Status

 

 

 

 

 

 

 

 

 

 

Housing

 

16749

Pennsylvania

Median Home Price

150,000

17.5%

In Current Residence 5+ Years

39%

42%

Annual Residential Turnover

19%

17%

Median Years in Residence

3.54

3.99

Median Dwelling Age

46

43

Housing Type

Transportation

Travel to Work

 

 

Income

 

16749

Pennsylvania

Median Household Income

$40,282

$45,389

Average Household Income

$51,136

$58,718

Average Income Change (since 2000)

11%

13%

Per Capita Income

$20,651

$23,603

Sales Tax Rate

6%

6%

Sales Tax Type

CO

ST

Median Disposable Income

$35,330

$39,194

Household Income by Dollar Range

Median Income by Age

 

Employment

Employment by Industry

Employment by Occupation

 

 

 

 

 

 

Net Worth

 

16749

Pennsylvania

Median Household Net Worth

$41,554

$42,528

Average Household Net Worth

$134,823

$140,489

Median Home Price

$150,000

$205,500

Household Net Worth by Dollar Range

Median Value of Assets

 

 

Median Value of Debts

Cost of Living

 

16749

Pennsylvania

Average Total Household Expenditure

$44,403

$48,250

Household Expenditure Index (100=National Average)

87

95

Cost of Living Index
(100=National Average)

 

 

Climate

 

16749

Pennsylvania

Annual Precipitation (inches)

48.18

42.53

Average Temperature (°F)

Weather Index
(100 = National Average)

Comparables:

Range: $1.6 million to $19,000

Sample Size: 381 in 20 mile radius

200K+: 68

199K-100K: 65

99K-50K: 150

49K-19K: 98

Overall average house price for 20 mile radius: $205,500.00

 

Most significant changes in area economy over last 5 years: Oil and Gas well drilling permits up by 181 new applications and Deep oil vain geological find 2007. Seneca Allegany Casino opened with completed construction in 2007 & Median household income up 15% from 1997 to 2007. Average high end housing price up from 200K to 500K over last 10 years.

 

 

 

Local Amenities:

 

5 Golf courses within a 25 mile area

Seneca Allegany Casino (Concert hall opening this fall)

Hamlin Lake (Large playground, picnic area, Skateboard Park, Tennis courts, fishing)

Allegany National Forest & Kinzu reservoir (Boating, Camping, ATV Trails, & Fishing)

3 Ski Resorts within a 50 mile radius (Denton Hill, Peak & Peak, Holiday Valley)

Chautauqua Lake

Chautauqua Institute

ZIPPO/Case Visitors center

Arms & Armor Museum

Malls & Shopping centers in Bradford, Salamanca, and Olean within 25 mile radius.

 

 

Hamlin Lake Smethport

 

 

Kinzu Reservoir

 

BROKER CONTACT INFORMATION:

Rocking Horse Realty, 129 W. Main Street, Smethport, PA 16749

Charles Cooper, CRS, GRI, Broker

Phone: (814) 887-2818 Toll-free: 1 (888) 823-8127 Fax: (814) 887-4116 E-mail: RockingHorse@penn.com

 

© 2007