302 3rd St

Oakdale, PA 15071

$184,900D+

3 bd · 1.0 ba · 1,051 sqft · Built 1920 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,814/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$381
• Net cashflow: $238/mo
• Annual: $2,860/yr
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• 1% rule: 0.98%
• Cash to close: $51,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (1.9% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $181k (1.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#329 in PA, #2,886 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D, amenities F, commute F.
• West Allegheny SD (suburban): math 64% / reading 77% proficiency, ranked #22 of 539 in PA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Mckee El Sch (math 65% / reading 80%, grade A, #121 of 1,518 statewide, top 8%, 489 students, 38% FRL); West Allegheny Ms (math 46% / reading 70%, grade B, #59 of 512 statewide, top 12%, 767 students, 30% FRL); West Allegheny Shs (math 76%, 997 students, 23% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 66 active listings in the ZIP; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 2 sale attempts since 19y 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 $44k; list at $185k implies a 320% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.