Mc Kean County • 1 ZIP Code
East Smethport is a tight-knit community of roughly 1,800 residents, with 62% of households renting and a median renter age of 34. The town’s economy is anchored by small manufacturing, a regional healthcare clinic, and seasonal tourism linked to nearby state parks. Population trends show a modest 1% decline over the past five years, but the local labor market remains stable, producing a 3% year‑over‑year rent growth that outpaces the national average. Vacancy rates hover at 12% citywide, slightly higher in the studio and 1‑bedroom segments. The overall investment climate is stable; the cost of living is low, and the city’s municipal incentives for property improvement create a favorable environment for long‑term investors.
Property prices in East Smethport range from $80,000 for older single‑family homes to $140,000 for newer multifamily units. A typical 2‑BR multifamily priced at $120,000 can generate a gross yield of 7.5% (≈$9,000 annual rent at 1.1×FMR) and net cash flow of 5.5% after operating expenses. Single‑family homes in the $100,000–$130,000 bracket typically yield 7–9% gross, with 6–8% net after maintenance and management costs. The ZIP 16730 is the most productive sub‑market, offering 2‑BR and 3‑BR units that command rents of $980 and $1,230 respectively. Turnkey acquisition of existing 2‑BR units is recommended for immediate cash flow, while a rehab strategy targeting older 3‑BR units can capture a 2–3% annual appreciation. Gross yield expectations average 6–8% across the city, making East Smethport an attractive, low‑risk investment zone.
Neighborhood variations exist between the downtown commercial corridor and the rural outskirts; properties closer to the school district tend to attract families and yield steadier cash flow. Tenant screening should require a credit score ≥600, income ≥3× monthly rent, and a 90‑day rent‑payment history. Property management fees typically range from 8–10% of gross rent, while a maintenance reserve of 1.5–2% of property value (≈$1,500–$2,000 annually) ensures smooth operations. Risk factors include limited employment growth, potential seasonal dips in demand, and occasional flooding in low‑lying areas. Long‑term appreciation looks modest at 2–3% per year, supported by gradual infrastructure improvements and a stable local economy.