2040 Laketon Rd · Wilkinsburg, PA 15221

$20,000

3 bd · 1.5 ba · 1,452 sqft · SingleFamily public records · 132 Days on market

Built 1946 5,998 sqft lot $14/sqft · 83% below area ↓ 33% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is full of opportunity for someone ready to bring it back to life. A big front porch welcomes you in, and the very large, flat side yard offers endless possibilities. Out back, you’ll find a detached one-car garage with convenient access. Inside, a beautiful original stairway sets the tone, just waiting to be restored. The main level features a formal living room, formal dining room, and a cozy kitchen with direct access to the garage. Upstairs offers three bedrooms and a full bathroom, while the unfinished basement provides abundant storage space. A true blank canvas with character and potential throughout.

Key facts

• Big front porch
• Formal dining room
• Original stairway

Tags

• BIG FRONT PORCH
• FLAT SIDE YARD
• DETACHED ONE-CAR GARAGE
• ORIGINAL STAIRWAY
• FORMAL LIVING ROOM
• FORMAL DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 74.9% vs local median 11.3% in Wilkinsburg — 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 76/100 on livability (#411 in PA, #3,754 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, crime F.
• Wilkinsburg Borough SD (suburban): math 14% / reading 23% proficiency, ranked #503 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $17,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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. 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?
9. 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.
10. 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.
11. 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: 8.11% ✓
• Cap rate: 74.88%
• Cash-on-cash: 244.94%
• DSCR: 11.90
• GRM: 1.0

CMA / ARV

• ARV (median comp): $117,948
• List price: $20,000
• Delta: -83.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2339 Collins Rd	0.33mi	3/2.0	1,468 (+1%)	3mo	$257,000	$175	78
2072 Boggs Ave	0.16mi	3/1.5	1,324 (-9%)	1mo	$83,000	$63	77
2233 Laketon Rd	0.20mi	3/1.0	1,536 (+6%)	4mo	$25,000	$16	76
1054 Osage Dr	0.43mi	3/1.5	1,413 (-3%)	0mo	$195,000	$138	75
2381 Collins Rd	0.41mi	3/1.5	1,645 (+13%)	3mo	$156,689	$95	57
2318 Collins Rd	0.30mi	3/2.0	1,260 (-13%)	7mo	$220,000	$175	56
1842 Graham Blvd	0.40mi	3/2.5	1,628 (+12%)	3mo	$243,500	$150	54
1117 James St	0.69mi	3/2.0	1,512 (+4%)	6mo	$147,325	$97	54
42 Barton Dr	0.73mi	3/1.5	1,365 (-6%)	5mo	$257,000	$188	52
711 Gaywood Dr	0.61mi	3/1.5	1,264 (-13%)	2mo	$242,000	$191	49
2516 Collins Rd	0.66mi	3/2.0	1,600 (+10%)	3mo	$255,000	$159	48
812 Parkway Ave	0.71mi	2/1.5 (-1)	1,269 (-13%)	2mo	$180,000	$142	39

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.05×
• Total profit: $67,498
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 28.52×
• Total profit: $154,115
• Equity at exit: $1,729

Cash invested: $5,600 (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 15221

• Home prices YoY: -32.3%
• Rents YoY: 3.9%
• Active inventory: 118
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $1,088

Break-even live

Break-even rent $245

Max offer price $20,000

Occupancy floor 28%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2031 Chalfant St Pittsburgh, PA	3.0	1.5	1150	$1,950	$1.70	43d	1	0.08mi
1962 McNary Blvd Pittsburgh, PA	3.0	1.0	1517	$1,545	$1.02	7d	1	0.27mi
1713-1715 Clark St Unit 79-1804C Pittsburgh, PA	2.0	1.0	972	$1,200	$1.23	4d	1	0.48mi
7534 Penn Bridge Ct Pittsburgh, PA	2.0	2.0	1259	$1,750	$1.39	43d	1	0.52mi
648 Southern Ave Penn Hills, PA	3.0	1.0	1100	$1,600	$1.45	7d	1	0.65mi
1515 Penn Ave Wilkinsburg, PA	2.0	2.0	1012	$1,100	$1.09	43d	1	0.68mi
7215 Beacon Hill Dr Pittsburgh, PA	2.0	2.0	1259	$1,795	$1.43	4d	1	0.68mi
185 Howard St Pittsburgh, PA	2.0	1.0	1000	$1,250	$1.25	43d	1	0.71mi
3005 Laketon Rd Pittsburgh, PA	3.0	1.0	1100	$1,295	$1.18	14d	1	0.75mi
610 Churchill Ave Pittsburgh, PA	3.0	1.0	1100	$1,395	$1.27	2d	1	0.76mi
8918 Frankstown Rd Pittsburgh, PA	3.0	1.0	1400	$1,907	$1.36	14d	1	0.76mi
1148 East St Pittsburgh, PA	3.0	3.0	1738	$1,700	$0.98	43d	1	0.90mi
8606 Westwood Rd Pittsburgh, PA	4.0	1.0	1596	$1,425	$0.89	43d	1	0.92mi
8612 Oakcrest Rd Pittsburgh, PA	2.0	1.0	1218	$1,450	$1.19	23d	1	1.08mi
314 Penn Vista Dr Pittsburgh, PA	2.0	1.0	1150	$1,250	$1.09	43d	1	1.13mi
100 Bryn Mawr Ct W Pittsburgh, PA	1.0–2.0	1.0–2.0	975	$1,904	$1.95	3d	15	1.14mi
641 Penny Dr Pittsburgh, PA	3.0	1.5	1199	$1,525	$1.27	14d	1	1.14mi
62 Melvin Ct Penn Hills Township, PA	1.0–2.0	1.0	825	$1,549	$1.88	7d	2	1.15mi
565 Ardmore Blvd Pittsburgh, PA	4.0	1.0	1368	$1,450	$1.06	10d	1	1.18mi
103 Grove Rd Verona, PA	3.0	1.5	1460	$1,450	$0.99	12d	1	1.21mi
515 Hill Ave Pittsburgh, PA	4.0	1.0	1628	$1,300	$0.80	43d	1	1.25mi
216 Grove Rd Verona, PA	3.0	1.0	1165	$1,550	$1.33	43d	1	1.28mi
10135 Pearl Rd Pittsburgh, PA	3.0	2.0	1163	$1,450	$1.25	23d	1	1.29mi
1250 Blackadore Ave Pittsburgh, PA	3.0	1.0	1440	$1,750	$1.22	23d	1	1.31mi
209 Briarwood Dr Pittsburgh, PA	3.0	2.0	1080	$1,500	$1.39	23d	1	1.32mi
150 Marshall Dr Pittsburgh, PA	3.0	1.5	923	$1,450	$1.57	23d	1	1.41mi
700 Filmore Rd Pittsburgh, PA	3.0	2.0	1072	$1,800	$1.68	12d	1	1.42mi
124 Dauntless Dr Pittsburgh, PA	3.0	1.0	1100	$1,395	$1.27	23d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $20,000 Active 132 DOM
2. 2026-06-17
   days on market $20,000 Active 131 DOM
3. 2026-06-16
   days on market $20,000 Active 130 DOM
4. 2026-06-15
   days on market $20,000 Active 129 DOM
5. 2026-06-13
   days on market $20,000 Active 127 DOM
6. 2026-06-09
   days on market $20,000 Active 123 DOM
7. 2026-06-08
   days on market $20,000 Active 122 DOM
8. 2026-06-07
   days on market $20,000 Active 121 DOM
9. 2026-06-05
   days on market $20,000 Active 118 DOM
10. 2026-06-03
    days on market $20,000 Active 117 DOM
11. 2026-06-02
    days on market $20,000 Active 116 DOM
12. 2026-06-01
    days on market $20,000 Active 115 DOM
13. 2026-05-31
    days on market $20,000 Active 114 DOM
14. 2026-01-31
    listed $20,000 Active 631-char remark

    Show marketing remark (631 chars)

    This home is full of opportunity for someone ready to bring it back to life. A big front porch welcomes you in, and the very large, flat side yard offers endless possibilities. Out back, you’ll find a detached one-car garage with convenient access. Inside, a beautiful original stairway sets the tone, just waiting to be restored. The main level features a formal living room, formal dining room, and a cozy kitchen with direct access to the garage. Upstairs offers three bedrooms and a full bathroom, while the unfinished basement provides abundant storage space. A true blank canvas with character and potential throughout.

15. 2016-08-31
    historical Withdrawn 165-char remark

    Show marketing remark (165 chars)

    Great 3 bedroom, 2 bathroom home with central heat, Colonial stylings, masonry frame exterior finish, shingle roof, full basement, central heat and great open layout

16. 2016-08-10
    listed $29,900 Active 165-char remark

    Show marketing remark (165 chars)

    Great 3 bedroom, 2 bathroom home with central heat, Colonial stylings, masonry frame exterior finish, shingle roof, full basement, central heat and great open layout

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,463
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$766
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$582
• Taxable income: $13,580
• Est. tax owed @ 24.0%: −$3,259
• After-tax cash flow: $9,791/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: Wilkinsburg Borough SD
• NCES district ID: 4226370
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 23% ▼ -9.00%
• Median HH income: $32,204
• Composite: 14.94/100
• National rank: #9368
• State rank: #503 of 539 in PA

Livability — Wilkinsburg

• Score: 76/100
• State rank: #411
• US rank: #3754

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilkinsburg, PA
• County: Allegheny County · 1,022,028 people
• City population: 29,513
• Metro: Pittsburgh, PA
• Population (ZIP): 29,374
• Household income: $55,028
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1933.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 47% Black 43% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -109.77%
• Current HPI: 230.0486
• Rent YoY: ▲ 3.86%
• 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

-33.1% since first listed

3 events — show timeline

• 2026-01-31 Listed $20,000 West Penn MLS
• 2016-08-31 Delisted — West Penn MLS
• 2016-08-10 Listed $29,900 West Penn MLS

Property tax history

+1.4%/yr

Latest (2026): $2,975 · +45.2% YoY. Source: county tax records.