1027 Glass Run Rd

Baldwin, PA 15236

$174,900D

2 bd · 1.5 ba · 1,068 sqft · Built 1956 · SingleFamily · Pending · 324 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,377/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $-161/mo
• Annual: $-1,934/yr
• Cap rate: 5.19%
• Cash-on-cash: -3.95%
• DSCR: 0.82
• 1% rule: 0.79%
• Cash to close: $48,972

Investor read

• This is a 2-bed/1.5-bath single-family listed at $175k.
• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (21.3% below list).
• It's been on market 324 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (21.3% 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 $5k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#189 in PA, #1,596 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, employment A; Watch: commute F.
• Baldwin-Whitehall SD (suburban): math 34% / reading 58% proficiency, ranked #246 of 539 in PA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: J.E. Harrison Education Ctr (math 26% / reading 57%, grade F, #927 of 1,518 statewide, top 61%, 1,143 students, 58% FRL); Baldwin Shs (math 32% / reading 53%, grade F, #226 of 437 statewide, top 52%, 2,086 students, 42% FRL) — zoned schools average 50% FRL vs 32% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.7%/yr); 115 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $85k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.2% vs local median 3.4% in Baldwin — 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.

Questions for listing agent

• 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?
• It's been on market 324 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.