1037 Keene St · Springdale, PA 15144

$320,000

9 bd · 3.9 ba · — sqft · MultiFamily · 6 Days on market

Built 1950 0.30 ac lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

1037 Keene Street presents investors with a rare opportunity to acquire a meticulously maintained four-unit property in Springdale, just 17 miles northeast of Pittsburgh. The building features four spacious two-bedroom units, each with central air conditioning, and tenant-paid gas and electric utilities. Additional highlights include a roof under five years old and shared laundry facilities in the basement — amenities that drive tenant retention and minimize owner expenses. Springdale is a charming riverside borough offering small-town character with easy access to the city. Its walkable business district features local shops and the popular Leaning Cask microbrewery, while its proxim

Key facts

• Four unit property
• 0.3 acre lot
• Built 1950

Tags

• FOUR UNIT PROPERTY
• CENTRAL AIR CONDITIONING
• SHARED LAUNDRY FACILITIES
• WALKABLE BUSINESS DISTRICT
• PROXIMITY TO ROUTE 28

Property features AI

Finance

• Financial info: Annual taxes listed ($2,728); Assessed value listed ($73,500); Current rents reported for units: $800, $700, $675, $500

Exterior

• Home design: Zoned MUL (multifamily)
• Exterior features: Lot dimensions approximately 40 by 50

Interior

• Bedrooms: Each unit has 2 bedrooms
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Four separate residential units (multifamily property)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $712 ($9k/yr) — positive. Per door: $237/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).

Location & tenants

• Location reads 76/100 on livability (#407 in PA, #3,696 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Allegheny Valley SD (suburban): math 29% / reading 53% proficiency, ranked #341 of 539 in PA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 15 active listings in the ZIP; 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $92k; list at $320k implies a 248% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $320,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — 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. 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: 1.12% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-6,519
• Equity at exit: $47,713

10-year hold

• IRR: 7.8%
• Equity multiple: 1.59×
• Total profit: $52,675
• Equity at exit: $27,668

Cash invested: $89,600 (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 15144

• Home prices YoY: -22.7%
• Active inventory: 15
• Price-to-rent: 22.4×

Monthly cashflow live

• Estimated rent: $3,572 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$232 /mo · $2,785/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $712

Break-even live

Break-even rent $2,671

Max offer price $320,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$3,573
Total (3 units)			$3,572

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $320,000 Active 6 DOM
2. 2026-06-17
   days on market $320,000 Active 5 DOM
3. 2026-06-16
   days on market $320,000 Active 4 DOM
4. 2026-06-15
   days on market $320,000 Active 3 DOM
5. 2026-06-13
   remarks 693-char remark
6. 2026-06-13
   listed $320,000 Active 1 DOM

ⓘ 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: $2,785 · $232/mo
• Projected year-2 tax: $3,920 · $327/mo
• Expected delta: +$1,136/yr (+$95/mo · 40.8%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,864
• − Mortgage interest: −$17,925
• − Property taxes: −$2,785
• − Insurance: −$2,398
• − Repairs & maintenance: −$3,429
• − Management: −$3,429
• − Depreciation: −$9,309
• Taxable income: $3,590
• Est. tax owed @ 24.0%: −$862
• After-tax cash flow: $7,682/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: Allegheny Valley SD
• NCES district ID: 4202190
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 53% ▼ -13.00%
• Median HH income: $48,049
• Composite: 35.04/100
• National rank: #5037
• State rank: #341 of 539 in PA

Livability — Springdale

• Score: 76/100
• State rank: #407
• US rank: #3696

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springdale, PA
• City population: 3,939
• Population (ZIP): 3,939

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Serbian 3% Scotch-Irish 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -64.55%
• Current HPI: 219.3049
• 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

+400.0% since first listed

3 events — show timeline

• 2026-06-12 Listed $320,000 West Penn MLS
• 2024-02-09 Sold (Public Records) $92,000 Public Records
• 2000-01-13 Sold (Public Records) $64,000 Public Records

Property tax history

+1.6%/yr

Latest (2026): $2,785 · +0.8% YoY. Source: county tax records.