35 Perry St · Pittsburgh, PA 15209

$159,900

3 bd · 2.0 ba · 1,190 sqft · SingleFamily public records · 11 Days on market

Built 1957 7,021 sqft lot Est $227k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 35 Perry St, Pittsburgh, PA 15209 – a charming brick ranch offering comfortable one-level living in a convenient North Hills location! This well-maintained 3-bedroom home features 1,190 square feet of thoughtfully designed space, perfect for anyone seeking easy living with classic appeal. The solid brick exterior provides timeless character and low-maintenance durability, while the covered front porch creates a warm and inviting first impression — the perfect spot to enjoy your morning coffee or unwind in the evening. Inside, you’ll find a bright and spacious living area filled with natural light and a functional layout that flows effortlessly into the eat-in ki

Key facts

• North hills location
• Covered front porch
• Bright living area

Tags

• BRICK RANCH
• ONE-LEVEL LIVING
• NORTH HILLS LOCATION
• SOLID BRICK EXTERIOR
• COVERED FRONT PORCH
• BRIGHT LIVING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).

Location & tenants

• Location reads 85/100 on livability (#76 in PA, #546 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Shaler Area SD (suburban): math 36% / reading 59% proficiency, ranked #208 of 539 in PA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.3%/yr); 26 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• This rent runs 42% of the median local income ($86k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1957 — 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. 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?
5. 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.
6. 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.
7. 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: 1.87% ✓
• Cap rate: 14.77%
• Cash-on-cash: 30.28%
• DSCR: 2.35
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $227,290
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 Buckeye Way	0.54mi	3/2.0	1,188 (-0%)	3mo	$232,000	$195	72
5322 Kent Way	0.69mi	2/1.5 (-1)	1,200 (+1%)	2mo	$400,000	$333	58
5204 Carnegie St	0.60mi	2/1.5 (-1)	1,222 (+3%)	7mo	$188,718	$154	54
201 Friday Rd	0.40mi	2/1.0 (-1)	1,061 (-11%)	2mo	$193,500	$182	52
5237 Carnegie St	0.57mi	2/1.0 (-1)	1,122 (-6%)	4mo	$328,000	$292	52
15 Old Soose Rd Unit A	0.61mi	3/1.5	1,344 (+13%)	1mo	$83,000	$62	47
5335 Carnegie St	0.60mi	3/2.0	1,326 (+11%)	8mo	$360,000	$271	46
4833 Hatfield St	0.65mi	2/1.5 (-1)	1,088 (-9%)	5mo	$220,000	$202	44
5309 1/2 Keystone St	0.64mi	3/1.0	1,313 (+10%)	7mo	$234,950	$179	43
80 Parker St	0.72mi	4/2.5 (+1)	1,080 (-9%)	2mo	$206,250	$191	42
498 Seavey Rd	0.66mi	3/1.5	1,353 (+14%)	3mo	$257,000	$190	42
137 Vista St	0.55mi	2/1.0 (-1)	1,366 (+15%)	5mo	$195,000	$143	37

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 · 5.31% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.19×
• Total profit: $53,284
• Equity at exit: $23,842

10-year hold

• IRR: 36.6%
• Equity multiple: 4.80×
• Total profit: $170,150
• Equity at exit: $13,825

Cash invested: $44,772 (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 15209

• Home prices YoY: -27.7%
• Rents YoY: 5.3%
• Active inventory: 26
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,990 high
• Mortgage (P&I): −$839
• Tax from tax record: −$327 /mo · $3,927/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $1,130

Break-even live

Break-even rent $1,560

Max offer price $159,900

Occupancy floor 57%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Hugel Dr Unit 1 Pittsburgh, PA	2.0	1.0	1200	$1,450	$1.21	23d	1	0.45mi
5275 Butler St Pittsburgh, PA	2.0	1.0–2.0	885	$4,076	$4.61	1d	130	0.53mi
404 Reetz St Pittsburgh, PA	4.0	1.0	1500	$2,050	$1.37	16d	1	0.61mi
39 Prospect St Pittsburgh, PA	2.0	1.0	1056	$1,200	$1.14	7d	1	1.00mi
4107 Willow St Pittsburgh, PA	2.0	1.0–2.0	917	$3,334	$3.63	1d	28	1.04mi
265 46th St Pittsburgh, PA	1.0–3.0	1.0–1.5	883	$2,745	$3.11	4d	10	1.07mi
147 39th St Pittsburgh, PA	3.0	1.0–2.0	934	$3,463	$3.71	1d	44	1.22mi
621 Butler St Unit BS Pittsburgh, PA	2.0	1.0	1000	$995	$0.99	43d	1	1.31mi
3725 Butler St Pittsburgh, PA	2.0	2.0	1236	$3,899	$3.15	14d	1	1.41mi

Listing history 2 events

1. 2026-03-02
   status Pending
2. 2026-02-18
   listed $159,900 Active

ⓘ 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: $3,927 · $327/mo
• Projected year-2 tax: $3,927 · $327/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 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,882
• − Mortgage interest: −$8,957
• − Property taxes: −$3,927
• − Insurance: −$800
• − Repairs & maintenance: −$2,871
• − Management: −$2,871
• − Depreciation: −$4,652
• Taxable income: $11,806
• Est. tax owed @ 24.0%: −$2,833
• After-tax cash flow: $10,725/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: Shaler Area SD
• NCES district ID: 4221200
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $57,411
• Composite: 41.33/100
• National rank: #3506
• State rank: #208 of 539 in PA

Livability — Pittsburgh

• Score: 85/100
• State rank: #76
• US rank: #546

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allegheny County · 1,022,028 people
• City population: 564,884
• Metro: Pittsburgh, PA
• Population (ZIP): 12,328
• Household income: $85,542
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 356.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 3% Black 3% Two or more races 2% Asian 1%
• Common ancestry: Romanian 13% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▼ -117.81%
• Current HPI: 307.7796
• Rent YoY: ▲ 5.31%
• 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

2 events — show timeline

• 2026-03-02 Pending — West Penn MLS
• 2026-02-18 Listed $159,900 West Penn MLS

Property tax history

+2.1%/yr

Latest (2026): $3,927 · +0.0% YoY. Source: county tax records.