823 Fallowfield Ave · Charleroi, PA 15022

$139,900

2 bd · 1.0 ba · 1,836 sqft · SingleFamily public records · 66 Days on market

Built 1900 4,399 sqft lot $76/sqft · 216% above area

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Why this score? — see what drove the D+ 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 +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Appreciation +4.1/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

SPECTACULAR INVESTMENT PROPERTY IN THE HEART OF CHARLEROI RIGHT BETWEEN TWO BEAUTIFUL COMMERCIAL PROPERTIES. THIS DATED BUT WELL-MAINTAINED PROPERTY IS PERFECT FOR A FUTURE BUISNESS, MAYBE FLOWER SHOP, OR BUSINESS OFFICE. THE FRONT COVERED PORCH IS PERFECT FOR THAT MORNING CUP OF COFFEE AND LEADS TO A LARGE FOYER. THE LARGE LIVING ROOM IS A PERFECT SIZE AND HAS A BEAUTIFUL DECORATIVE FIREPLACE ALSO CAN BE USED AS A 5TH BEDROOM. THE SECOND BEDROOM IS ON THE MAIN FLOOR BUT CAN BE EASILY USED AS A DINING ROOM. THE KITCHEN IS LARGE AND COULD EASILY SEAT 4 AT THE KITCHEN TABLE. THE UPPER LEVEL INCLUDES A FULL BATH AND 3 BEDROOMS. THE REAR YARD IS PRIVATE AND BOASTS A HUGE 2 CAR GARAGE. EXCELLENT LOCATION, CLOSE TO PHARMACY, DOCTORS, AND NIGHTLIFE.

Key facts

• Front covered porch
• Decorative fireplace
• Large foyer

Tags

• FRONT COVERED PORCH
• LARGE FOYER
• DECORATIVE FIREPLACE
• PRIVATE REAR YARD
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $43 ($515/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (9.0% below list).
• Recommended offer: $127k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 15.3% in Charleroi — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 76/100 on livability (#382 in PA, #3,416 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment F.
• Charleroi SD (rural): math 20% / reading 51% proficiency, ranked #421 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Charleroi Area El Ctr (math 17% / reading 51%, grade F, #1,076 of 1,518 statewide, top 71%, 584 students, 62% FRL); Charleroi Area Ms (math 12% / reading 51%, grade F, #367 of 512 statewide, top 73%, 329 students, 54% FRL); Charleroi Area Hs (math 74% / reading 24%, grade D, #138 of 437 statewide, top 34%, 476 students, 33% FRL).
• Market conditions: 85 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $967 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,278 (9.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (median comp): $44,303
• List price: $139,900
• Delta: 215.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
907 Crest Ave	0.16mi	3/1.5 (+1)	1,700 (-7%)	1mo	$53,000	$31	72
722 Washington Ave	0.10mi	3/1.5 (+1)	1,756 (-4%)	17mo	$22,000	$13	67
809 Mckean Ave	0.06mi	3/2.0 (+1)	1,668 (-9%)	19mo	$40,000	$24	57
606 Shady Ave	0.33mi	3/2.0 (+1)	1,868 (+2%)	20mo	$127,000	$68	56
207 Mckean Ave	0.59mi	3/1.5 (+1)	1,782 (-3%)	19mo	$78,000	$44	45

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

Projected returns pro-forma

-1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.67×
• Total profit: $-12,941
• Equity at exit: $28,286

10-year hold

• IRR: -0.4%
• Equity multiple: 0.96×
• Total profit: $-1,403
• Equity at exit: $25,246

Cash invested: $39,172 (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 15022

• Home prices YoY: -1.0%
• Active inventory: 85
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$58
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $43

Break-even live

Break-even rent $1,219

Max offer price $139,900

Occupancy floor 92%

Sensitivity live

Price	-10% $122	-5% $82	+0% $43	+5% $3	+10% $-36
Rent	-10% $-58	-5% $-7	+0% $43	+5% $93	+10% $143
Rate	-1.0pp $113	-0.5pp $78	base $43	+0.5pp $7	+1.0pp $-30

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 McKean Ave Charleroi, PA	3.0	3.0	1344	$1,450	$1.08	3d	1	0.17mi
1136 Reservoir Ave Monessen, PA	3.0	2.0	1550	$650	$0.42	3d	1	1.10mi
522 Division St Monessen, PA	2.0	1.0	2547	$795	$0.31	3d	1	1.19mi

Listing history 21 events

1. 2026-06-21
   days on market $139,900 Active 66 DOM
2. 2026-06-18
   days on market $139,900 Active 63 DOM
3. 2026-06-17
   days on market $139,900 Active 62 DOM
4. 2026-06-16
   days on market $139,900 Active 61 DOM
5. 2026-06-15
   days on market $139,900 Active 60 DOM
6. 2026-06-13
   days on market $139,900 Active 58 DOM
7. 2026-06-09
   days on market $139,900 Active 54 DOM
8. 2026-06-08
   days on market $139,900 Active 53 DOM
9. 2026-06-07
   days on market $139,900 Active 52 DOM
10. 2026-06-05
    days on market $139,900 Active 49 DOM
11. 2026-06-03
    days on market $139,900 Active 48 DOM
12. 2026-06-02
    days on market $139,900 Active 47 DOM
13. 2026-06-01
    days on market $139,900 Active 46 DOM
14. 2026-05-31
    days on market $139,900 Active 45 DOM
15. 2026-04-16
    listed $139,900 Active 752-char remark

    Show marketing remark (752 chars)

    SPECTACULAR INVESTMENT PROPERTY IN THE HEART OF CHARLEROI RIGHT BETWEEN TWO BEAUTIFUL COMMERCIAL PROPERTIES. THIS DATED BUT WELL-MAINTAINED PROPERTY IS PERFECT FOR A FUTURE BUISNESS, MAYBE FLOWER SHOP, OR BUSINESS OFFICE. THE FRONT COVERED PORCH IS PERFECT FOR THAT MORNING CUP OF COFFEE AND LEADS TO A LARGE FOYER. THE LARGE LIVING ROOM IS A PERFECT SIZE AND HAS A BEAUTIFUL DECORATIVE FIREPLACE ALSO CAN BE USED AS A 5TH BEDROOM. THE SECOND BEDROOM IS ON THE MAIN FLOOR BUT CAN BE EASILY USED AS A DINING ROOM. THE KITCHEN IS LARGE AND COULD EASILY SEAT 4 AT THE KITCHEN TABLE. THE UPPER LEVEL INCLUDES A FULL BATH AND 3 BEDROOMS. THE REAR YARD IS PRIVATE AND BOASTS A HUGE 2 CAR GARAGE. EXCELLENT LOCATION, CLOSE TO PHARMACY, DOCTORS, AND NIGHTLIFE.

16. 2021-12-30
    soldstatus $65,000 Closed 485-char remark

    Show marketing remark (485 chars)

    SO much home! Large kitchen. Large bathrooms, Large two story garage. Large dry high ceiling basement. Yes! I said high and dry to describe a Western PA basement. Do you sense a pattern? This spacious home is super solid too. Hardwood flooring throughout under the existing carpet. First Floor laundry. Fenced yard. On top of all of this, the amazing short term tenants on both the right and left are quiet, respectful, keep to themselves, and above all. .. .. are very much loved.

17. 2021-11-20
    status Pending 485-char remark

    Show marketing remark (485 chars)

    SO much home! Large kitchen. Large bathrooms, Large two story garage. Large dry high ceiling basement. Yes! I said high and dry to describe a Western PA basement. Do you sense a pattern? This spacious home is super solid too. Hardwood flooring throughout under the existing carpet. First Floor laundry. Fenced yard. On top of all of this, the amazing short term tenants on both the right and left are quiet, respectful, keep to themselves, and above all. .. .. are very much loved.

18. 2021-11-17
    listed $75,000 Active 485-char remark

    Show marketing remark (485 chars)

    SO much home! Large kitchen. Large bathrooms, Large two story garage. Large dry high ceiling basement. Yes! I said high and dry to describe a Western PA basement. Do you sense a pattern? This spacious home is super solid too. Hardwood flooring throughout under the existing carpet. First Floor laundry. Fenced yard. On top of all of this, the amazing short term tenants on both the right and left are quiet, respectful, keep to themselves, and above all. .. .. are very much loved.

19. 2011-11-22
    price $39,900
20. 2011-11-18
    soldstatus $41,650
21. 2011-03-16
    listed $41,650

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,382 · $115/mo
• Projected year-2 tax: $1,796 · $150/mo
• Expected delta: +$414/yr (+$35/mo · 30.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 8 d/yr ≥97°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,273
• − Mortgage interest: −$7,837
• − Property taxes: −$1,382
• − Insurance: −$1,366
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$4,070
• Taxable loss: −$1,824
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $952/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: Charleroi SD
• NCES district ID: 4205640
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $40,410
• Composite: 29.72/100
• National rank: #6450
• State rank: #421 of 539 in PA

Livability — Charleroi

• Score: 76/100
• State rank: #382
• US rank: #3416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleroi, PA
• Population (ZIP): 10,044

Population outlook (Washington County) Hauer SSP2

• Today (2025): 208,060 people
• By 2030: 207,168 · -0.4%
• By 2040: 202,738 · -2.6%
• By 2050: 195,269 · -6.1%
• By 2075: 175,588 · -15.6%
• By 2100: 145,827 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Black 6%
• Common ancestry: Romanian 8% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+25.5) · D 36.9% · R 62.4%
• 2008→2024 swing: -20.8pp toward R · 2008: -4.7pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+22.8 2016: R+25.3 2012: R+13.3 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.83%
• Current HPI: 174.218
• 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

+235.9% since first listed

7 events — show timeline

• 2026-04-16 Listed $139,900 West Penn MLS
• 2021-12-30 Sold (MLS) $65,000 West Penn MLS
• 2021-11-20 Pending — West Penn MLS
• 2021-11-17 Listed $75,000 West Penn MLS
• 2011-11-22 Price Changed $39,900 West Penn MLS
• 2011-11-18 Sold (MLS) $41,650 West Penn MLS
• 2011-03-16 Listed $41,650 West Penn MLS

Property tax history

-0.6%/yr

Latest (2026): $1,382 · +1.2% YoY. Source: county tax records.