106 Sullivan St · Butler, PA 16001

$50,000

3 bd · 1.0 ba · 779 sqft · SingleFamily public records · 62 Days on market

Built 1900 4,316 sqft lot $64/sqft · 29% below area Est $70k · 29% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and efficient 2 bed, 1 bath home—perfect for first-time buyers, downsizers, or investors seeking a turnkey rental. Thoughtfully compact layout maximizes space and livability, offering cozy common area and two comfortable bedrooms. Enjoy the convenience of two off-street parking spots and a private backyard ideal for morning coffee, small gatherings, or container gardening. Low-maintenance yard and straightforward floorplan make upkeep easy. Located in a friendly neighborhood with quick access to shops and transit, this home blends affordability and practicality for those ready to own or add to their portfolio.

Key facts

• Low-maintenance yard
• Private backyard
• Off-street parking

Tags

• OFF-STREET PARKING
• PRIVATE BACKYARD
• LOW-MAINTENANCE YARD
• QUICK ACCESS TO SHOPS
• QUICK ACCESS TO TRANSIT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 3.8% in Butler — 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 71/100 on livability (#705 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D-, amenities F, commute F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $9k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $50k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 2.04% ✓
• Cap rate: 17.13%
• Cash-on-cash: 38.71%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (median comp): $70,026
• List price: $50,000
• Delta: -28.60%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 American Ave	0.48mi	2/1.0 (-1)	770 (-1%)	3mo	$91,000	$118	68
145 Remil Dr	0.28mi	3/1.0	720 (-8%)	7mo	$180,000	$250	68
117 N 9th Ave	0.43mi	2/1.5 (-1)	768 (-1%)	8mo	$58,000	$76	64
120 N 6th Ave	0.45mi	2/1.0 (-1)	700 (-10%)	12mo	$59,750	$85	47
107 Remil Dr	0.49mi	3/1.0	894 (+15%)	12mo	$110,000	$123	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 2.86×
• Total profit: $26,061
• Equity at exit: $7,455

10-year hold

• IRR: 49.2%
• Equity multiple: 7.02×
• Total profit: $84,299
• Equity at exit: $4,323

Cash invested: $14,000 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,018 high
• Mortgage (P&I): −$262
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $452

Break-even live

Break-even rent $446

Max offer price $50,000

Occupancy floor 51%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 American Ave Butler, PA	2.0	1.0	986	$995	$1.01	43d	1	0.38mi
529 Federal St Unit 2 Butler, PA	2.0	1.0	900	$850	$0.94	43d	1	0.54mi
313 Wilson Ave Butler, PA	3.0	1.0	894	$1,005	$1.12	16d	1	0.63mi
303 Wilson Ave Unit Wilson-313 Butler, PA	3.0	1.0	894	$1,005	$1.12	16d	1	0.64mi
327 W Brady St Unit 2 Butler, PA	2.0	1.0	900	$850	$0.94	21d	1	0.78mi
404 W Cunningham St Butler, PA	2.0	1.0	800	$850	$1.06	43d	1	0.87mi
530 N Main St Butler, PA	2.0	2.0	1052	$1,088	$1.03	1d	2	0.91mi
139 Whitestown Vlg Unit B Butler, PA	3.0	1.0	1000	$1,100	$1.10	4d	1	1.40mi

Listing history 17 events

1. 2026-06-18
   days on market $50,000 Active 62 DOM
2. 2026-06-17
   days on market $50,000 Active 61 DOM
3. 2026-06-16
   days on market $50,000 Active 60 DOM
4. 2026-06-15
   days on market $50,000 Active 59 DOM
5. 2026-06-13
   days on market $50,000 Active 57 DOM
6. 2026-06-13
   days on market $50,000 Active 56 DOM
7. 2026-06-09
   days on market $50,000 Active 53 DOM
8. 2026-06-08
   days on market $50,000 Active 52 DOM
9. 2026-06-07
   days on market $50,000 Active 51 DOM
10. 2026-06-03
    days on market $50,000 Active 47 DOM
11. 2026-06-02
    days on market $50,000 Active 46 DOM
12. 2026-06-01
    days on market $50,000 Active 45 DOM
13. 2026-05-31
    days on market $50,000 Active 44 DOM
14. 2026-04-29
    price $50,000 632-char remark

    Show marketing remark (632 chars)

    Charming and efficient 2 bed, 1 bath home—perfect for first-time buyers, downsizers, or investors seeking a turnkey rental. Thoughtfully compact layout maximizes space and livability, offering cozy common area and two comfortable bedrooms. Enjoy the convenience of two off-street parking spots and a private backyard ideal for morning coffee, small gatherings, or container gardening. Low-maintenance yard and straightforward floorplan make upkeep easy. Located in a friendly neighborhood with quick access to shops and transit, this home blends affordability and practicality for those ready to own or add to their portfolio.

15. 2026-04-17
    listed $59,000 Active 632-char remark

    Show marketing remark (632 chars)

    Charming and efficient 2 bed, 1 bath home—perfect for first-time buyers, downsizers, or investors seeking a turnkey rental. Thoughtfully compact layout maximizes space and livability, offering cozy common area and two comfortable bedrooms. Enjoy the convenience of two off-street parking spots and a private backyard ideal for morning coffee, small gatherings, or container gardening. Low-maintenance yard and straightforward floorplan make upkeep easy. Located in a friendly neighborhood with quick access to shops and transit, this home blends affordability and practicality for those ready to own or add to their portfolio.

16. 2002-01-23
    soldstatus $27,000 83-char remark

    Show marketing remark (83 chars)

    VINYL RANCH WITH BAY WINDOW AND WOODED BACK YARD CUTE HOUSE TO RAISE A SMALL FAMILY

17. 2001-09-24
    listed $34,900 83-char remark

    Show marketing remark (83 chars)

    VINYL RANCH WITH BAY WINDOW AND WOODED BACK YARD CUTE HOUSE TO RAISE A SMALL FAMILY

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $836 · $70/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,217
• − Mortgage interest: −$2,801
• − Property taxes: −$836
• − Insurance: −$250
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$1,455
• Taxable income: $4,921
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $4,238/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: Butler Area SD
• NCES district ID: 4204590
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $49,348
• Composite: 42.65/100
• National rank: #3180
• State rank: #181 of 539 in PA

Livability — Butler

• Score: 71/100
• State rank: #705
• US rank: #6951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler, PA
• County: Butler County · 73,107 people
• City population: 39,234
• Metro: Pittsburgh, PA
• Population (ZIP): 39,234
• Household income: $63,635
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1441.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 190,777 people
• By 2030: 191,476 · +0.4%
• By 2040: 189,474 · -0.7%
• By 2050: 182,050 · -4.6%
• By 2075: 159,526 · -16.4%
• By 2100: 129,028 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+32.2) · D 33.5% · R 65.7%
• 2008→2024 swing: -4.8pp toward R · 2008: -27.4pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+32.5 2016: R+37.5 2012: R+34.9 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.40%
• Current HPI: 222.4445
• Rent YoY: ▲ 20.36%
• Metro: Pittsburgh, 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

+43.3% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $50,000 West Penn MLS
• 2026-04-17 Listed $59,000 West Penn MLS
• 2002-01-23 Sold (MLS) $27,000 West Penn MLS
• 2001-09-24 Listed $34,900 West Penn MLS

Property tax history

+0.8%/yr

Latest (2026): $836 · -6.3% YoY. Source: county tax records.