607-609 1/2 Allegheny Ave · Glassport, PA 15045

$369,000

8 bd · 4.0 ba · — sqft · MultiFamily · 223 Days on market

Built 1916 Good condition 4,499 sqft lot

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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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Appreciation +5.1/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Fully Renovated 4-Unit multi-Plex | Cap Rate: 14.6% This turnkey 4-unit property was fully remodeled in May 2024, eliminating the headaches of deferred maintenance and positioning it as a high-yield investment. Tenants pay their own utilities. Recent Upgrades: New kitchens, Stoves, and Refrigerators; new full bathrooms; updated flooring throughout; new plumbing with PEX fixtures, shut-off valves, and new hot water tanks; new 90% efficient gas furnaces were installed in each unit; new sewer lines. Select units that have been upgraded with new windows and electrical panels. Investment Highlights: Cap Rate: 14.6% Strong cash flow with updated mechanicals and finishes Annual Leases, Low near-term maintenance risk due to extensive renovations, Multiple units were already modernized, making them attractive to quality tenants. This property combines IMMEDIATE INCOME with long-term stability, making it ideal for investors seeking both yield and reduced capital expenditure risk.

Key facts

• Fully renovated
• New kitchens
• New plumbing

Tags

• FULLY RENOVATED
• NEW KITCHENS
• NEW BATHROOMS
• UPDATED FLOORING
• NEW PLUMBING
• NEW HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $369k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive. Per door: $139/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• Recommended offer: $325k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#716 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: crime C-, employment D+, schools D-.
• South Allegheny SD (suburban): math 23% / reading 44% proficiency, ranked #430 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($3k loan paydown + $658 appreciation (0.2% local appreciation)).
• At projected returns (0.2% appreciation + 3.0% rent growth), your $103k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 8, 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 223 days — a 12% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 Ohio Ave	0.16mi	9/5.0 (+1)	—	10mo	$200,000	—	62
730 Indiana Ave	0.33mi	7/3.0 (-1)	—	16mo	$60,000	—	50

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

Projected returns pro-forma

0.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.27×
• Total profit: $27,912
• Equity at exit: $110,446

10-year hold

• IRR: 10.6%
• Equity multiple: 2.18×
• Total profit: $122,354
• Equity at exit: $135,423

Cash invested: $103,320 (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 15045

• Home prices YoY: 0.1%
• Active inventory: 24
• Price-to-rent: 30.7×

Monthly cashflow live

• Estimated rent: $4,004 high
• Mortgage (P&I): −$1,935
• Tax est. 1.5%: −$461 /mo · $5,535/yr
• Insurance: −$154
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$841
• Net cashflow: $558

Break-even live

Break-even rent $3,298

Max offer price $369,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,004
Total (4 units)			$4,004

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-03-03
   status Active 988-char remark

   Show marketing remark (988 chars)

   Fully Renovated 4-Unit multi-Plex | Cap Rate: 14.6% This turnkey 4-unit property was fully remodeled in May 2024, eliminating the headaches of deferred maintenance and positioning it as a high-yield investment. Tenants pay their own utilities. Recent Upgrades: New kitchens, Stoves, and Refrigerators; new full bathrooms; updated flooring throughout; new plumbing with PEX fixtures, shut-off valves, and new hot water tanks; new 90% efficient gas furnaces were installed in each unit; new sewer lines. Select units that have been upgraded with new windows and electrical panels. Investment Highlights: Cap Rate: 14.6% Strong cash flow with updated mechanicals and finishes Annual Leases, Low near-term maintenance risk due to extensive renovations, Multiple units were already modernized, making them attractive to quality tenants. This property combines IMMEDIATE INCOME with long-term stability, making it ideal for investors seeking both yield and reduced capital expenditure risk.

2. 2025-09-05
   listed $369,000 Active 988-char remark

   Show marketing remark (988 chars)

   Fully Renovated 4-Unit multi-Plex | Cap Rate: 14.6% This turnkey 4-unit property was fully remodeled in May 2024, eliminating the headaches of deferred maintenance and positioning it as a high-yield investment. Tenants pay their own utilities. Recent Upgrades: New kitchens, Stoves, and Refrigerators; new full bathrooms; updated flooring throughout; new plumbing with PEX fixtures, shut-off valves, and new hot water tanks; new 90% efficient gas furnaces were installed in each unit; new sewer lines. Select units that have been upgraded with new windows and electrical panels. Investment Highlights: Cap Rate: 14.6% Strong cash flow with updated mechanicals and finishes Annual Leases, Low near-term maintenance risk due to extensive renovations, Multiple units were already modernized, making them attractive to quality tenants. This property combines IMMEDIATE INCOME with long-term stability, making it ideal for investors seeking both yield and reduced capital expenditure risk.

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,048
• − Mortgage interest: −$20,670
• − Property taxes: −$5,535
• − Insurance: −$2,512
• − Repairs & maintenance: −$3,844
• − Management: −$3,844
• − Depreciation: −$10,735
• Taxable income: $910
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $6,472/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab

This fully renovated 4-unit multi-family property is in good condition with recent updates to kitchens, bathrooms, and mechanical systems. It is ready for immediate occupancy and has a strong investment potential with a cap rate of 14.6%.

Value-add opportunities

• Both Paint the exterior walls — Enhances curb appeal and adds value for both resale and rental.
• Both Replace worn-out windows — Improves energy efficiency and adds value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Replace worn-out windows — Improves energy efficiency and adds value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: South Allegheny SD
• NCES district ID: 4221910
• Math proficiency: 23% ▼ -10.00%
• Reading proficiency: 44% ▼ -13.00%
• Median HH income: $40,891
• Composite: 28.15/100
• National rank: #6815
• State rank: #430 of 539 in PA

Livability — Glassport

• Score: 71/100
• State rank: #716
• US rank: #7113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glassport, PA
• City population: 4,400
• Population (ZIP): 4,400

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% Hispanic / Latino 6% Black 4% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 18% Portuguese 6% Serbian 6%
• Foreign-born: 1% · South Korea, Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1% Korean 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: ▲ 0.18%
• Current HPI: 214.7403
• 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

2 events — show timeline

• 2026-03-03 Relisted — West Penn MLS
• 2025-09-05 Listed $369,000 West Penn MLS