407-409 W 8th Ave · West Homestead, PA 15120

$299,900

8 bd · 6.0 ba · — sqft · MultiFamily · 254 Days on market

Good condition 3,415 sqft lot ↓ 40% since listing

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Why this score? — see what drove the C+ 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
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• Schools +3.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Wonderful opportunity! Located on a busy street in Homestead this property is a perfect investment opportunity! 2 Store fronts on main level and 5 apartments are perfect for income potential with most of them already being mostly remodeled! 80% of the work is done. Put a little elbow grease into this one and you will have an awesome property when completed! Centrally located!! Close to shopping and transportation! Awesome investment!!

Key facts

• 5 apartments
• Centrally located
• Mostly remodeled

Tags

• INVESTMENT OPPORTUNITY
• 2 STORE FRONTS
• 5 APARTMENTS
• MOSTLY REMODELED
• CENTRALLY LOCATED
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive. Per door: $369/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#353 in PA, #3,104 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Steel Valley SD (suburban): math 29% / reading 45% proficiency, ranked #403 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 92 active listings in the ZIP; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $3,558/mo this rent would consume 77% of the median local household income ($56k/yr) (locally 669% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.

Recommended offer $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $122,576
• List price: $299,900
• Delta: 144.66%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $2,313
• Equity at exit: $44,716

10-year hold

• IRR: 11.4%
• Equity multiple: 1.94×
• Total profit: $78,858
• Equity at exit: $25,930

Cash invested: $83,972 (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 15120

• Home prices YoY: -16.9%
• Rents YoY: 4.1%
• Active inventory: 92
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,558 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $738

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 74%

Sensitivity live

Price	-10% $946	-5% $842	+0% $738	+5% $635	+10% $531
Rent	-10% $457	-5% $598	+0% $738	+5% $879	+10% $1,019
Rate	-1.0pp $889	-0.5pp $815	base $738	+0.5pp $661	+1.0pp $582

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,558
Total (2 units)			$3,558

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $299,900 Active 254 DOM
2. 2026-06-17
   days on market $299,900 Active 253 DOM
3. 2026-06-16
   days on market $299,900 Active 252 DOM
4. 2026-06-15
   days on market $299,900 Active 251 DOM
5. 2026-06-13
   days on market $299,900 Active 249 DOM
6. 2026-06-09
   days on market $299,900 Active 245 DOM
7. 2026-06-08
   days on market $299,900 Active 244 DOM
8. 2026-06-07
   days on market $299,900 Active 243 DOM
9. 2026-06-05
   days on market $299,900 Active 240 DOM
10. 2026-06-03
    days on market $299,900 Active 239 DOM
11. 2026-06-02
    days on market $299,900 Active 238 DOM
12. 2026-06-01
    days on market $299,900 Active 237 DOM
13. 2026-05-31
    days on market $299,900 Active 236 DOM
14. 2026-05-01
    price $299,900 441-char remark

    Show marketing remark (441 chars)

    Wonderful opportunity! Located on a busy street in Homestead this property is a perfect investment opportunity! 2 Store fronts on main level and 5 apartments are perfect for income potential with most of them already being mostly remodeled! 80% of the work is done. Put a little elbow grease into this one and you will have an awesome property when completed! Centrally located!! Close to shopping and transportation! Awesome investment!!

15. 2026-03-25
    price $359,900 441-char remark

    Show marketing remark (441 chars)

    Wonderful opportunity! Located on a busy street in Homestead this property is a perfect investment opportunity! 2 Store fronts on main level and 5 apartments are perfect for income potential with most of them already being mostly remodeled! 80% of the work is done. Put a little elbow grease into this one and you will have an awesome property when completed! Centrally located!! Close to shopping and transportation! Awesome investment!!

16. 2026-01-12
    price $399,900 441-char remark

    Show marketing remark (441 chars)

    Wonderful opportunity! Located on a busy street in Homestead this property is a perfect investment opportunity! 2 Store fronts on main level and 5 apartments are perfect for income potential with most of them already being mostly remodeled! 80% of the work is done. Put a little elbow grease into this one and you will have an awesome property when completed! Centrally located!! Close to shopping and transportation! Awesome investment!!

17. 2025-11-04
    price $449,900 441-char remark

    Show marketing remark (441 chars)

    Wonderful opportunity! Located on a busy street in Homestead this property is a perfect investment opportunity! 2 Store fronts on main level and 5 apartments are perfect for income potential with most of them already being mostly remodeled! 80% of the work is done. Put a little elbow grease into this one and you will have an awesome property when completed! Centrally located!! Close to shopping and transportation! Awesome investment!!

18. 2025-10-07
    listed $499,900 Active 441-char remark

    Show marketing remark (441 chars)

    Wonderful opportunity! Located on a busy street in Homestead this property is a perfect investment opportunity! 2 Store fronts on main level and 5 apartments are perfect for income potential with most of them already being mostly remodeled! 80% of the work is done. Put a little elbow grease into this one and you will have an awesome property when completed! Centrally located!! Close to shopping and transportation! Awesome investment!!

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

Taxation est. · year 1

• Rental income: $42,696
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,416
• − Management: −$3,416
• − Depreciation: −$8,724
• Taxable income: $4,343
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $7,817/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.

Condition & rehab AI · 12 photos

Good 75/100 Moderate rehab

This multi-family property is in moderate rehab stage with 80% of work completed. The kitchen and bathrooms are in progress, and the property is ready for a fresh coat of paint and landscaping improvements to maximize its value.

Repairs flagged

• Major Kitchen countertops — Missing and need to be installed
• Major Kitchen appliances — Missing and need to be installed
• Major Bathroom sinks — Missing and need to be installed
• Major Bathroom cabinets — Missing and need to be installed
• Minor Landscaping — Some landscaping present, but could be improved

Value-add opportunities

• Both Complete kitchen and bathroom installations — Both improve resale and rental value
• Both Landscaping improvements — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Missing and need to be installed	Major	$15,000–50,000
Kitchen appliances · Missing and need to be installed	Major	$15,000–50,000
Bathroom sinks · Missing and need to be installed	Major	$15,000–50,000
Bathroom cabinets · Missing and need to be installed	Major	$15,000–50,000
Landscaping · Some landscaping present, but could be improved	Minor	$500–3,000
Total estimated repair cost · 5 items		$60,500–203,000

Value-add ROI direction

• Both Complete kitchen and bathroom installations — Both improve resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Steel Valley SD
• NCES district ID: 4222790
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $39,505
• Composite: 30.94/100
• National rank: #6111
• State rank: #403 of 539 in PA

Livability — West Homestead

• Score: 77/100
• State rank: #353
• US rank: #3104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Homestead, PA
• County: Allegheny County · 1,022,028 people
• City population: 17,999
• Metro: Pittsburgh, PA
• Population (ZIP): 18,029
• Household income: $55,714
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 669.0

Population outlook (Allegheny County) Hauer SSP2

• Today (2025): 1,250,282 people
• By 2030: 1,256,482 · +0.5%
• By 2040: 1,256,318 · +0.5%
• By 2050: 1,244,169 · -0.5%
• By 2075: 1,197,693 · -4.2%
• By 2100: 1,093,187 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Allegheny

• 2024 margin: Strong D (+20.3) · D 59.7% · R 39.4%
• 2008→2024 swing: +4.8pp toward D · 2008: 15.5pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+20.4 2016: D+16.4 2012: D+14.4 2008: D+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.52%
• Current HPI: 292.5607
• Rent YoY: ▲ 4.06%
• 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

-40.0% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $299,900 West Penn MLS
• 2026-03-25 Price Changed $359,900 West Penn MLS
• 2026-01-12 Price Changed $399,900 West Penn MLS
• 2025-11-04 Price Changed $449,900 West Penn MLS
• 2025-10-07 Listed $499,900 West Penn MLS