931 Ramsey St · Wilkinsburg, PA 15221

$700,000

9 bd · 3.0 ba · 3,858 sqft · MultiFamily public records · 20 Days on market

Built 2026

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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 +13.1/30.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

GREAT BUY WON'T LAST LONG BRICK TRIPLEX 3 LEGAL UNITS ALWAYS RENTED SEC-8-APPROVED SEP UTLS 3-NEW-BK-PORCHES/ STEPS 2-NEW-W-HTRS F-BSMT-L-STORAGE

Key facts

• Newly constructed
• Modern appeal
• Premium finishes

Tags

• NEWLY CONSTRUCTED
• MODERN APPEAL
• PREMIUM FINISHES
• FIREPLACE IN LIVING ROOM
• FIREPLACE IN MASTER SUITE
• EXPANSIVE OPEN-CONCEPT LAYOUT

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/1.3-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $-76 ($-916/yr) — negative. Per door: $-25/mo.
• To cash-flow at today's rent, offer at most $687k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $527k (24.7% below list).
• Recommended offer: $527k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 11.3% in Wilkinsburg — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $5,273/mo this rent would consume 115% of the median local household income ($55k/yr) (locally 1933% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($690k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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.
• Current owner paid $45k; list at $700k implies a 1456% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $527,300 (24.7% below list)

Questions for the listing agent

1. 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?
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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 0.75% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.86% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-113,974
• Equity at exit: $104,372

10-year hold

• IRR: -6.8%
• Equity multiple: 0.55×
• Total profit: $-87,451
• Equity at exit: $60,523

Cash invested: $196,000 (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: 33.2×

Monthly cashflow live

• Estimated rent: $5,273 high
• Mortgage (P&I): −$3,671
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$292
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,107
• Net cashflow: $-76

Break-even live

Break-even rent $5,370

Max offer price $686,522

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	1.3	$5,274
Total (3 units)			$5,273

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $700,000 Active 20 DOM
2. 2026-06-17
   days on market $700,000 Active 19 DOM
3. 2026-06-16
   days on market $700,000 Active 18 DOM
4. 2026-06-15
   days on market $700,000 Active 17 DOM
5. 2026-06-13
   days on market $700,000 Active 15 DOM
6. 2026-06-09
   days on market $700,000 Active 11 DOM
7. 2026-06-08
   days on market $700,000 Active 10 DOM
8. 2026-06-07
   days on market $700,000 Active 9 DOM
9. 2026-06-05
   days on market $700,000 Active 6 DOM
10. 2026-06-03
    days on market $700,000 Active 5 DOM
11. 2026-06-02
    days on market $700,000 Active 4 DOM
12. 2026-06-01
    days on market $700,000 Active 3 DOM
13. 2026-05-31
    days on market $700,000 Active 2 DOM
14. 2026-05-26
    listed $700,000 Active
15. 1999-11-15
    soldstatus $45,000 145-char remark

    Show marketing remark (145 chars)

    GREAT BUY WON'T LAST LONG BRICK TRIPLEX 3 LEGAL UNITS ALWAYS RENTED SEC-8-APPROVED SEP UTLS 3-NEW-BK-PORCHES/ STEPS 2-NEW-W-HTRS F-BSMT-L-STORAGE

16. 1999-09-16
    soldstatus $45,000
17. 1999-03-06
    listed $50,000 145-char remark

    Show marketing remark (145 chars)

    GREAT BUY WON'T LAST LONG BRICK TRIPLEX 3 LEGAL UNITS ALWAYS RENTED SEC-8-APPROVED SEP UTLS 3-NEW-BK-PORCHES/ STEPS 2-NEW-W-HTRS F-BSMT-L-STORAGE

18. 1986-11-07
    soldstatus $49,000
19. 1981-09-09
    soldstatus $55,000

ⓘ 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: $2,687 · $224/mo
• Projected year-2 tax: $6,873 · $573/mo
• Expected delta: +$4,187/yr (+$349/mo · 155.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,276
• − Mortgage interest: −$39,211
• − Property taxes: −$2,687
• − Insurance: −$4,166
• − Repairs & maintenance: −$5,062
• − Management: −$5,062
• − Depreciation: −$20,364
• Taxable loss: −$13,276
• Est. tax savings @ 24.0%: +$3,186
• After-tax cash flow: $2,271/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

+1172.7% since first listed

6 events — show timeline

• 2026-05-26 Listed $700,000 FSBO.com
• 1999-11-15 Sold (MLS) $45,000 West Penn MLS
• 1999-09-16 Sold (Public Records) $45,000 Public Records
• 1999-03-06 Listed $50,000 West Penn MLS
• 1986-11-07 Sold (Public Records) $49,000 Public Records
• 1981-09-09 Sold (Public Records) $55,000 Public Records

Property tax history

-0.6%/yr

Latest (2026): $2,687 · +3.0% YoY. Source: county tax records.