900 Park Ave · Castle Shannon, PA 15234

$275,000

8 bd · 1.0 ba · — sqft · MultiFamily · 145 Days on market

2,221 sqft lot Est $292k · 6% under ↓ 57% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Situated on a corner lot along a brick-lined sidewalk amid a hub of small businesses, this mixed-use property is in a prime Castle Shannon location along the trolley line. The main level features a tavern, bar & restaurant, seating area, a commercial kitchen, complemented by a lower-level banquet or game room for additional entertainment space. The upper level features eight fully occupied boarding-style one-bedroom units with 2.5 shared bathrooms.

Key facts

• Commercial kitchen
• Banquet room
• Brick-lined sidewalk

Tags

• CORNER LOT
• BRICK-LINED SIDEWALK
• PRIME LOCATION
• COMMERCIAL KITCHEN
• BANQUET ROOM
• GAME ROOM

What this means for you Summary

Snapshot

• This is a 8-bed/1.0-bath multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.0% vs local median 4.3% in Castle Shannon — 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 94/100 on livability (#4 in PA, #9 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Keystone Oaks SD (suburban): math 45% / reading 65% proficiency, ranked #116 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $9,856/mo this rent would consume 151% of the median local household income ($78k/yr) (locally 338% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $100k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.58% ✓
• Cap rate: 31.98%
• Cash-on-cash: 91.73%
• DSCR: 5.08
• GRM: 2.3

CMA / ARV

• ARV (median comp): $291,858
• List price: $275,000
• Delta: -4.06%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 92.5%
• Equity multiple: 5.29×
• Total profit: $330,455
• Equity at exit: $41,003

10-year hold

• IRR: 95.3%
• Equity multiple: 11.01×
• Total profit: $771,061
• Equity at exit: $23,777

Cash invested: $77,000 (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 15234

• Home prices YoY: -29.8%
• Active inventory: 33
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $9,856 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,070
• Net cashflow: $5,886

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 35%

Sensitivity live

Price	-10% $6,076	-5% $5,981	+0% $5,886	+5% $5,791	+10% $5,696
Rent	-10% $5,107	-5% $5,496	+0% $5,886	+5% $6,275	+10% $6,664
Rate	-1.0pp $6,024	-0.5pp $5,956	base $5,886	+0.5pp $5,815	+1.0pp $5,742

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	1	2.5	$9,856
Total (8 units)			$9,856

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   pricedays on market $275,000 Active 145 DOM
2. 2026-06-18
   days on market $280,000 Active 142 DOM
3. 2026-06-17
   days on market $280,000 Active 141 DOM
4. 2026-06-16
   days on market $280,000 Active 140 DOM
5. 2026-06-15
   days on market $280,000 Active 139 DOM
6. 2026-06-13
   days on market $280,000 Active 137 DOM
7. 2026-06-13
   days on market $280,000 Active 136 DOM
8. 2026-06-09
   days on market $280,000 Active 133 DOM
9. 2026-06-08
   days on market $280,000 Active 132 DOM
10. 2026-06-07
    days on market $280,000 Active 131 DOM
11. 2026-06-05
    pricedays on market $280,000 Active 128 DOM
12. 2026-06-03
    days on market $299,000 Active 127 DOM
13. 2026-06-02
    days on market $299,000 Active 126 DOM
14. 2026-06-01
    days on market $299,000 Active 125 DOM
15. 2026-05-31
    days on market $299,000 Active 124 DOM
16. 2026-04-22
    price $299,000 458-char remark

    Show marketing remark (458 chars)

    Situated on a corner lot along a brick-lined sidewalk amid a hub of small businesses, this mixed-use property is in a prime Castle Shannon location along the trolley line. The main level features a tavern, bar & restaurant, seating area, a commercial kitchen, complemented by a lower-level banquet or game room for additional entertainment space. The upper level features eight fully occupied boarding-style one-bedroom units with 2.5 shared bathrooms.

17. 2026-04-09
    price $300,000 458-char remark

    Show marketing remark (458 chars)

    Situated on a corner lot along a brick-lined sidewalk amid a hub of small businesses, this mixed-use property is in a prime Castle Shannon location along the trolley line. The main level features a tavern, bar & restaurant, seating area, a commercial kitchen, complemented by a lower-level banquet or game room for additional entertainment space. The upper level features eight fully occupied boarding-style one-bedroom units with 2.5 shared bathrooms.

18. 2026-03-21
    price $325,000 458-char remark

    Show marketing remark (458 chars)

    Situated on a corner lot along a brick-lined sidewalk amid a hub of small businesses, this mixed-use property is in a prime Castle Shannon location along the trolley line. The main level features a tavern, bar & restaurant, seating area, a commercial kitchen, complemented by a lower-level banquet or game room for additional entertainment space. The upper level features eight fully occupied boarding-style one-bedroom units with 2.5 shared bathrooms.

19. 2026-02-18
    price $350,000 458-char remark

    Show marketing remark (458 chars)

    Situated on a corner lot along a brick-lined sidewalk amid a hub of small businesses, this mixed-use property is in a prime Castle Shannon location along the trolley line. The main level features a tavern, bar & restaurant, seating area, a commercial kitchen, complemented by a lower-level banquet or game room for additional entertainment space. The upper level features eight fully occupied boarding-style one-bedroom units with 2.5 shared bathrooms.

20. 2026-01-27
    listed $375,000 Active 458-char remark

    Show marketing remark (458 chars)

    Situated on a corner lot along a brick-lined sidewalk amid a hub of small businesses, this mixed-use property is in a prime Castle Shannon location along the trolley line. The main level features a tavern, bar & restaurant, seating area, a commercial kitchen, complemented by a lower-level banquet or game room for additional entertainment space. The upper level features eight fully occupied boarding-style one-bedroom units with 2.5 shared bathrooms.

21. 2024-08-23
    listed $500,000 Active
22. 2024-07-09
    status Active
23. 2024-07-09
    price $649,500
24. 2024-04-09
    price $649,900
25. 2024-01-02
    listed $699,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $118,272
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$9,462
• − Management: −$9,462
• − Depreciation: −$8,000
• Taxable income: $70,444
• Est. tax owed @ 24.0%: −$16,907
• After-tax cash flow: $53,723/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: Keystone Oaks SD
• NCES district ID: 4212750
• Math proficiency: 45% ▼ -15.00%
• Reading proficiency: 65% ▼ -8.00%
• Median HH income: $54,066
• Composite: 47.24/100
• National rank: #2314
• State rank: #116 of 539 in PA

Livability — Castle Shannon

• Score: 94/100
• State rank: #4
• US rank: #9

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Castle Shannon, PA
• County: Allegheny County · 1,022,028 people
• City population: 14,330
• Metro: Pittsburgh, PA
• Population (ZIP): 14,014
• Household income: $78,366
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 338.0

Population outlook (Allegheny County) Hauer SSP2

• Today (2025): 1,250,282 people
• By 2030: 1,256,482 · +0.5%
• By 2040: 1,256,318 · +0.5%
• By 2050: 1,244,169 · -0.5%
• By 2075: 1,197,693 · -4.2%
• By 2100: 1,093,187 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 9% Slovak 1% Italian 1%
• Foreign-born: 6% · India, Canada, China
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Chinese 1%

Political lean MEDSL · Allegheny

• 2024 margin: Strong D (+20.3) · D 59.7% · R 39.4%
• 2008→2024 swing: +4.8pp toward D · 2008: 15.5pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+20.4 2016: D+16.4 2012: D+14.4 2008: D+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.99%
• Current HPI: 261.6436
• Rent YoY: —
• Metro: Pittsburgh, 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

-57.3% since first listed

10 events — show timeline

• 2026-04-22 Price Changed $299,000 West Penn MLS
• 2026-04-09 Price Changed $300,000 West Penn MLS
• 2026-03-21 Price Changed $325,000 West Penn MLS
• 2026-02-18 Price Changed $350,000 West Penn MLS
• 2026-01-27 Listed $375,000 West Penn MLS
• 2024-08-23 Listed $500,000 West Penn MLS
• 2024-07-09 Relisted — West Penn MLS
• 2024-07-09 Price Changed $649,500 West Penn MLS
• 2024-04-09 Price Changed $649,900 West Penn MLS
• 2024-01-02 Listed $699,900 West Penn MLS