3515 Walnut Ave · Altoona, PA 16601

$85,000

2 bd · 1.0 ba · 880 sqft · SingleFamily · 5 Days on market

Built 1950 3,049 sqft lot Est $123k · 31% under

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid home with updated kitchen, dining room, water heater and paint. Off street parking

Key facts

• One story living
• Window coverings
• Siding on front

Tags

• ONE STORY LIVING
• RENTAL OPPORTUNITY
• NICELY UPDATED
• WATER PROOF FLOORING
• WINDOW COVERINGS
• SIDING ON FRONT

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Public water
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Porch; Level lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s)
• Interior features: Range; Refrigerator; Carpet flooring; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $85k).
• Cap rate 9.2% vs local median 5.8% in Altoona — 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 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Altoona Area Jr Hs (math 21% / reading 45%, grade F, #346 of 512 statewide, top 69%, 1,727 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 186 active listings in the ZIP; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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 $42k; list at $85k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $123,200
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
852 38th St	0.31mi	2/1.0	872 (-1%)	12mo	$70,000	$80	74
3133 Oak Crescent Ln	0.37mi	2/1.0	850 (-3%)	8mo	$119,000	$140	70
3901 Walnut Ave	0.29mi	2/1.0	875 (-1%)	19mo	$189,900	$217	70
892 Millville Rd	0.44mi	2/1.0	864 (-2%)	17mo	$123,500	$143	62
4116 Cortland Ave	0.58mi	2/1.0	935 (+6%)	3mo	$145,000	$155	60
3145 Spruce Ave	0.42mi	3/1.5 (+1)	948 (+8%)	14mo	$13,000	$14	49
3020 West Chestnut Ave	0.51mi	3/2.5 (+1)	950 (+8%)	12mo	$46,000	$48	41

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

Projected returns pro-forma

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

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-438
• Equity at exit: $12,674

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $16,791
• Equity at exit: $7,349

Cash invested: $23,800 (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 16601

• Home prices YoY: -24.9%
• Active inventory: 186
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $979 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $209

Break-even live

Break-even rent $714

Max offer price $85,000

Occupancy floor 74%

Sensitivity live

Price	-10% $257	-5% $233	+0% $209	+5% $185	+10% $161
Rent	-10% $132	-5% $171	+0% $209	+5% $248	+10% $287
Rate	-1.0pp $252	-0.5pp $231	base $209	+0.5pp $187	+1.0pp $165

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-22
   days on market $85,000 Active 5 DOM
2. 2026-06-21
   days on market $85,000 Active 4 DOM
3. 2026-06-19
   days on market $85,000 Active 2 DOM
4. 2026-06-17
   remarks 427-char remark
5. 2026-06-17
   listed $85,000 Active 1 DOM

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $1,168 · $97/mo
• Expected delta: +$175/yr (+$15/mo · 17.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,746
• − Mortgage interest: −$4,761
• − Property taxes: −$993
• − Insurance: −$425
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$2,473
• Taxable income: $1,215
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $2,221/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: Altoona Area SD
• NCES district ID: 4202340
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $38,465
• Composite: 30.85/100
• National rank: #6130
• State rank: #406 of 539 in PA

Livability — Altoona

• Score: 79/100
• State rank: #237
• US rank: #2060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, PA
• County: Blair County · 59,867 people
• City population: 59,867
• Metro: Altoona, PA
• Population (ZIP): 33,515
• Household income: $58,070
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 715.0

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.97%
• Current HPI: 183.9907
• Rent YoY: —
• Metro: Altoona, 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

+553.8% since first listed

8 events — show timeline

• 2026-06-17 Listed $85,000 AHARMLS
• 2024-12-06 Rental Removed $875 TURBOTENANT
• 2024-11-22 Listed for Rent $875 TURBOTENANT
• 2024-10-04 Price Changed $64,900 AHARMLS
• 2021-02-25 Sold (MLS) $41,500 AHARMLS
• 2021-01-16 Listed $54,900 AHARMLS
• 2009-08-28 Sold (Public Records) $12,000 Public Records
• 1982-10-01 Sold (Public Records) $13,000 Public Records

Property tax history

-5.5%/yr

Latest (2025): $993 · +13.0% YoY. Source: county tax records.