1817-1823 Tacoma Ave

Port Vue, PA 15133

$399,000C

40 bd · None ba · — sqft · Built 1926 · MultiFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,571/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$665
• HOA: −$0
• Vac / Maint / Mgmt: −$960
• Net cashflow: $854/mo
• Annual: $10,244/yr
• Cap rate: 8.86%
• Cash-on-cash: 9.17%
• DSCR: 1.41
• 1% rule: 1.15%
• Cash to close: $111,720

Investor read

• This is a 5 × 1-bed/1-bath units multifamily listed at $399k. Condition is rated poor.
• At list price, monthly cash flow is $854 ($10k/yr) — positive. Per door: $171/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• It's been on market 51 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• In year one you build about $21k of equity ($3k loan paydown + $18k appreciation (4.5% local appreciation)).
• Location reads 73/100 on livability (#545 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• 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.
• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At projected returns (4.5% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• At $4,571/mo this rent would consume 83% of the median local household income ($66k/yr) (locally 94% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear
• Major: exterior siding — Overgrown vegetation and peeling paint
• Major: interior walls — No visible interior, but likely in poor condition
• Major: flooring — No visible flooring, but likely in poor condition
• Major: systems — No visible systems, but likely in poor condition