204 Lee Ave · West View, PA 15237

$224,900

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 37 Days on market

Built 1960 5,301 sqft lot $225/sqft · 11% below area Est $251k · 11% under

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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).

• ARV discount +12.2/15.0
• Cash flow +8.7/30.0
• Schools +5.2/10.0
• Livability +4.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEWER ROOF-NEW FURNACE NEUTRAL DECOR-PAINTED- EAT-IN-KITCHEN-WOOD SOLD AS IS CONDITION

Key facts

• Durable foundation
• Strong bones
• Abundant cabinetry

Tags

• SOLID WELL-BUILT HOME
• DURABLE FOUNDATION
• STRONG BONES
• SPACIOUS EAT-IN KITCHEN
• ABUNDANT CABINETRY
• COUNTER SPACE

Property features AI

Exterior

• Parking: Attached garage with built-in parking and garage door opener (1 parking space total)
• Utilities: Public water; Public sewer
• Home design: 2-story residence; Resale property
• Construction: Aluminum siding; Brick construction; Has home warranty
• Exterior features: 60x100 lot; Aluminum siding and brick exterior

Interior

• Kitchen: Stove; Refrigerator; Dishwasher; Some gas appliances
• Bedrooms: Main level bedroom (9x8); Main level bedroom (12x11)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (gas); Wall/window cooling units
• Interior features: Full walk-up basement; Bonus room (lower level); Game room (lower level); Living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-246 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (26.1% below list).
• Recommended offer: $166k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.8% in West View — 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 92/100 on livability (#8 in PA, #32 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• North Hills SD (suburban): math 48% / reading 72% proficiency, ranked #70 of 539 in PA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.2%/yr); 108 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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).

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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $80k; list at $225k implies a 183% 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 $166,161 (26.1% 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. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.64%
• DSCR: 0.84
• GRM: 11.3

CMA / ARV

• ARV (median comp): $251,330
• List price: $224,900
• Delta: -10.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 Lincoln	0.10mi	3/1.0 (+1)	1,000 (0%)	3mo	$246,000	$246	88
336 Lee Ave	0.08mi	2/1.0	968 (-3%)	10mo	$204,800	$212	83
167 Kaylor Rd	0.28mi	3/1.5 (+1)	1,150 (+15%)	2mo	$295,000	$257	53

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 · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -25.2%
• Equity multiple: 0.15×
• Total profit: $-53,506
• Equity at exit: $33,533

10-year hold

• IRR: -23.9%
• Equity multiple: -0.15×
• Total profit: $-72,310
• Equity at exit: $19,445

Cash invested: $62,972 (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 15237

• Rents YoY: 2.2%
• Active inventory: 108
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,662 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$230 /mo · $2,766/yr
• Insurance: −$94
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-246

Break-even live

Break-even rent $1,974

Max offer price $181,361

Occupancy floor —

Sensitivity live

Price	-10% $-119	-5% $-183	+0% $-246	+5% $-310	+10% $-374
Rent	-10% $-378	-5% $-312	+0% $-246	+5% $-181	+10% $-115
Rate	-1.0pp $-133	-0.5pp $-189	base $-246	+0.5pp $-305	+1.0pp $-364

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 Montclair Ave Pittsburgh, PA	3.0	1.0	1050	$1,895	$1.80	24d	1	0.59mi
1050 N 19 Dr Pittsburgh, PA	1.0–2.0	1.0–1.5	890	$1,860	$2.09	2d	7	1.00mi
3457 Evergreen Rd Pittsburgh, PA	1.0	1.0	750	$1,150	$1.53	5d	1	1.03mi
3457 Evergreen Rd Unit 303 McKnight, PA	1.0	1.0	750	$1,150	$1.53	8d	1	1.03mi
143 Aberdeen Ct Pittsburgh, PA	3.0	3.5	1400	$2,600	$1.86	5d	1	1.04mi
553 Sloop Rd #48 Pittsburgh, PA	2.0	1.5	1001	$1,699	$1.70	44d	1	1.20mi
114 Tally Dr Pittsburgh, PA	1.0–3.0	1.0–2.0	847	$1,188	$1.40	44d	5	1.31mi
159 Mohican Ave Pittsburgh, PA	3.0	2.0	1360	$2,100	$1.54	44d	1	1.33mi
103 McKnight Cir Pittsburgh, PA	1.0–3.0	1.0–2.0	1275	$2,000	$1.57	2d	1	1.39mi
122 McKnight Cir Pittsburgh, PA	1.0	1.0	800	$1,200	$1.50	8d	1	1.42mi
106 McKnight Cir Pittsburgh, PA	2.0	2.0	1140	$1,550	$1.36	8d	1	1.47mi
411 McKnight Cir Pittsburgh, PA	1.0	1.0	800	$1,100	$1.38	24d	1	1.47mi

Listing history 19 events

1. 2026-06-21
   days on market $224,900 Active 37 DOM
2. 2026-06-18
   days on market $224,900 Active 34 DOM
3. 2026-06-17
   days on market $224,900 Active 33 DOM
4. 2026-06-16
   days on market $224,900 Active 32 DOM
5. 2026-06-15
   days on market $224,900 Active 31 DOM
6. 2026-06-13
   days on market $224,900 Active 29 DOM
7. 2026-06-09
   days on market $224,900 Active 25 DOM
8. 2026-06-08
   days on market $224,900 Active 24 DOM
9. 2026-06-07
   days on market $224,900 Active 23 DOM
10. 2026-06-05
    days on market $224,900 Active 20 DOM
11. 2026-06-03
    days on market $224,900 Active 19 DOM
12. 2026-06-02
    days on market $224,900 Active 18 DOM
13. 2026-06-01
    days on market $224,900 Active 17 DOM
14. 2026-05-31
    days on market $224,900 Active 16 DOM
15. 2026-05-14
    listed $224,900 Active 1829-char remark
16. 2000-05-30
    soldstatus $79,500
17. 2000-05-25
    soldstatus $79,500 86-char remark

    Show marketing remark (86 chars)

    NEWER ROOF-NEW FURNACE NEUTRAL DECOR-PAINTED- EAT-IN-KITCHEN-WOOD SOLD AS IS CONDITION

18. 2000-01-31
    listed $79,500 86-char remark

    Show marketing remark (86 chars)

    NEWER ROOF-NEW FURNACE NEUTRAL DECOR-PAINTED- EAT-IN-KITCHEN-WOOD SOLD AS IS CONDITION

19. 1983-06-06
    soldstatus $54,000

ⓘ 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: $2,766 · $230/mo
• Projected year-2 tax: $3,160 · $263/mo
• Expected delta: +$394/yr (+$33/mo · 14.2%)

ⓘ 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) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,939
• − Mortgage interest: −$12,598
• − Property taxes: −$2,766
• − Insurance: −$1,791
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$6,543
• Taxable loss: −$6,948
• Est. tax savings @ 24.0%: +$1,668
• After-tax cash flow: $-1,290/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: North Hills SD
• NCES district ID: 4217220
• Math proficiency: 48% ▼ -20.00%
• Reading proficiency: 72% ▼ -10.00%
• Median HH income: $60,841
• Composite: 52.02/100
• National rank: #1637
• State rank: #70 of 539 in PA

Livability — West View

• Score: 92/100
• State rank: #8
• US rank: #32

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allegheny County · 1,022,028 people
• City population: 15,251
• Metro: Pittsburgh, PA
• Population (ZIP): 43,588
• Household income: $109,895
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 693.0

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 (88%)
• Race & ethnicity: White 88% Asian 6% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 8% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 2% Chinese 2% Spanish 2%

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: ▼ -218.78%
• Current HPI: 269.5446
• Rent YoY: ▲ 2.16%
• 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

+316.5% since first listed

5 events — show timeline

• 2026-05-14 Listed $224,900 West Penn MLS
• 2000-05-30 Sold (Public Records) $79,500 Public Records
• 2000-05-25 Sold (MLS) $79,500 West Penn MLS
• 2000-01-31 Listed $79,500 West Penn MLS
• 1983-06-06 Sold (Public Records) $54,000 Public Records

Property tax history

+1.8%/yr

Latest (2026): $2,766 · +1.0% YoY. Source: county tax records.