413 Delaware St

Monessen, PA 15062

$80,000D-

4 bd · 1.5 ba · 1,922 sqft · Built 1900 · Other · Active · 148 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $650/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$229
• HOA: −$0
• Vac / Maint / Mgmt: −$136
• Net cashflow: $-135/mo
• Annual: $-1,619/yr
• Cap rate: 4.27%
• Cash-on-cash: -7.23%
• DSCR: 0.68
• 1% rule: 0.81%
• Cash to close: $22,400

Investor read

• This is a 4-bed/1.5-bath other listed at $80k.
• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $56k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $65k (18.8% below list).
• It's been on market 148 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (29.8% below list) — sets the bar for cash-flow.
• In year one you build about $9k of equity ($553 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#1,310 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools F.
• Monessen City SD (suburban): math 17% / reading 35% proficiency, ranked #568 of 658 in PA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 96 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 31y ago; this cycle's ask has dropped $30k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $80k implies a 433% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 148 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?