2050 Laketon Rd

Wilkinsburg, PA 15221

$68,500B+

2 bd · 1.0 ba · 920 sqft · Built 1945 · SingleFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,246/mo
• Mortgage (P&I): −$359
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $405/mo
• Annual: $4,863/yr
• Cap rate: 14.37%
• Cash-on-cash: 28.83%
• DSCR: 2.28
• 1% rule: 1.82%
• Cash to close: $19,180

Investor read

• This is a 2-bed/1.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 99 days — a 9% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $474 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#411 in PA, #3,754 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, crime F.
• Wilkinsburg Borough SD (suburban): math 14% / reading 23% proficiency, ranked #503 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $56/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 4 sale attempts since 29y ago 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.
• Current owner paid $11k; list at $68k implies a 523% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.4% vs local median 11.3% in Wilkinsburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.