102 N Hickory Aly · Ligonier, PA 15658

$245,000

5 bd · 3.0 ba · — sqft · MultiFamily · 237 Days on market

Poor condition 4,098 sqft lot ↓ 2% 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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment opportunity! Triplex located in the heart of Historic Ligonier and very close to all the amenities this town has to offer. Two 1 bedroom 1 bath units on the the first floor, currently rented out on a month to month basis. Third unit, in need of TLC, located on the second and third floor. Full basement provides plenty of room for additional storage, as well as a large laundry room. The property comes with a two car garage and additional off street parking. This could be converted back into a spacious single family residence!

Key facts

• Off street parking
• Historic ligonier
• Full basement

Tags

• TRIPLEX
• HISTORIC LIGONIER
• FULL BASEMENT
• LARGE LAUNDRY ROOM
• TWO CAR GARAGE
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $245k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 1.1% in Ligonier — 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 79/100 on livability (#267 in PA, #2,344 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Ligonier Valley SD (rural): math 28% / reading 57% proficiency, ranked #310 of 539 in PA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.84%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 N Market St	0.10mi	4/2.0 (-1)	—	19mo	$199,000	—	58

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $3,454
• Equity at exit: $36,530

10-year hold

• IRR: 10.9%
• Equity multiple: 1.86×
• Total profit: $58,702
• Equity at exit: $21,183

Cash invested: $68,600 (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 15658

• Home prices YoY: -26.4%
• Active inventory: 62
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $677

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,000
Total (3 units)			$3,000

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $245,000 Active 237 DOM
2. 2026-06-17
   days on market $245,000 Active 236 DOM
3. 2026-06-16
   days on market $245,000 Active 235 DOM
4. 2026-06-15
   days on market $245,000 Active 234 DOM
5. 2026-06-13
   days on market $245,000 Active 232 DOM
6. 2026-06-09
   days on market $245,000 Active 228 DOM
7. 2026-06-08
   days on market $245,000 Active 227 DOM
8. 2026-06-07
   days on market $245,000 Active 226 DOM
9. 2026-06-05
   days on market $245,000 Active 223 DOM
10. 2026-06-03
    days on market $245,000 Active 222 DOM
11. 2026-06-02
    days on market $245,000 Active 221 DOM
12. 2026-06-01
    days on market $245,000 Active 220 DOM
13. 2026-05-31
    days on market $245,000 Active 219 DOM
14. 2025-10-23
    listed $245,000 Active 540-char remark

    Show marketing remark (540 chars)

    Investment opportunity! Triplex located in the heart of Historic Ligonier and very close to all the amenities this town has to offer. Two 1 bedroom 1 bath units on the the first floor, currently rented out on a month to month basis. Third unit, in need of TLC, located on the second and third floor. Full basement provides plenty of room for additional storage, as well as a large laundry room. The property comes with a two car garage and additional off street parking. This could be converted back into a spacious single family residence!

15. 2025-09-05
    historical Expired 346-char remark

    Show marketing remark (346 chars)

    Investment opportunity! Triplex located in the heart of Historic Ligonier! Two 1 bedroom 1 bath units on the the first floor. Third unit located on the second and third floor. Full basement provides plenty of room for additional storage, as well as a large laundry room. The property comes with a two car garage and additional off street parking.

16. 2024-09-06
    listed $249,000 Active 346-char remark

    Show marketing remark (346 chars)

    Investment opportunity! Triplex located in the heart of Historic Ligonier! Two 1 bedroom 1 bath units on the the first floor. Third unit located on the second and third floor. Full basement provides plenty of room for additional storage, as well as a large laundry room. The property comes with a two car garage and additional off street parking.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,000
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$7,127
• Taxable income: $4,489
• Est. tax owed @ 24.0%: −$1,077
• After-tax cash flow: $7,045/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 · 3 photos

Poor 20/100 Extensive rehab

This triplex requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to address structural, exterior, and interior issues, as well as HVAC and landscaping improvements.

Repairs flagged

• Major Exterior siding — Severe weathering and damage
• Major Roof — Exposed structure
• Major Flooring — Exposed subflooring
• Major Interior walls/paint — Peeling and damage
• Major Windows — Broken windows
• Major Foundation/structure — Structural issues
• Major HVAC/mechanicals — Exposed components
• Major Landscaping — Overgrown vegetation

Value-add opportunities

• Both Exterior siding replacement — Improves curb appeal and value
• Both Roof repair/replacement — Essential for structural integrity and value
• Both Interior wall repairs and painting — Enhances interior appearance and value
• Both Window replacement — Improves energy efficiency and value
• Both HVAC system replacement — Enhances comfort and energy efficiency
• Both Landscaping and curb appeal improvements — Enhances overall appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe weathering and damage	Major	$15,000–50,000
Roof · Exposed structure	Major	$15,000–50,000
Flooring · Exposed subflooring	Major	$15,000–50,000
Interior walls/paint · Peeling and damage	Major	$15,000–50,000
Windows · Broken windows	Major	$15,000–50,000
Foundation/structure · Structural issues	Major	$15,000–50,000
HVAC/mechanicals · Exposed components	Major	$15,000–50,000
Landscaping · Overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both Exterior siding replacement — Improves curb appeal and value ↑
• Both Roof repair/replacement — Essential for structural integrity and value ↑
• Both Interior wall repairs and painting — Enhances interior appearance and value ↑
• Both Window replacement — Improves energy efficiency and value ↑
• Both HVAC system replacement — Enhances comfort and energy efficiency ↑
• Both Landscaping and curb appeal improvements — Enhances overall appearance and 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: Ligonier Valley SD
• NCES district ID: 4213710
• Math proficiency: 28% ▼ -16.00%
• Reading proficiency: 57% ▼ -11.00%
• Median HH income: $47,879
• Composite: 36.25/100
• National rank: #4714
• State rank: #310 of 539 in PA

Livability — Ligonier

• Score: 79/100
• State rank: #267
• US rank: #2344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ligonier, PA
• Population (ZIP): 8,114

Population outlook (Westmoreland County) Hauer SSP2

• Today (2025): 342,555 people
• By 2030: 331,717 · -3.2%
• By 2040: 304,976 · -11.0%
• By 2050: 277,444 · -19.0%
• By 2075: 224,607 · -34.4%
• By 2100: 171,084 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Romanian 6% Slovak 5% Serbian 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Westmoreland

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.9%
• 2008→2024 swing: -11.7pp toward R · 2008: -16.7pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+28.3 2016: R+31.3 2012: R+23.7 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.70%
• Current HPI: 155.4857
• Rent YoY: —
• Metro: —
• 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

-1.6% since first listed

3 events — show timeline

• 2025-10-23 Listed $245,000 West Penn MLS
• 2025-09-05 Delisted — West Penn MLS
• 2024-09-06 Listed $249,000 West Penn MLS