114 22nd St #112 · Sharpsburg, PA 15215

$329,000

20 bd · 16.0 ba · — sqft · MultiFamily · 6 Days on market

Built 1948 Good condition 10,497 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.9/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Investor Opportunity in Sharpsburg Borough! Rare 4-unit quadplex located in the highly sought-after Fox Chapel Area School District. This income-producing property features three 1-bedroom, 1-bath apartments, and one 2 bedroom1 bath apartment each with separate utilities, providing added efficiency and tenant responsibility for utility expenses. Conveniently situated near local shops, restaurants, parks, and major commuter routes with easy access to Pittsburgh. A solid opportunity for investors seeking a multi-unit property in a desirable location with strong rental appeal.

Key facts

• Separate utilities
• 4 unit quadplex
• Strong rental appeal

Tags

• 4 UNIT QUADPLEX
• INCOME PRODUCING PROPERTY
• SEPARATE UTILITIES
• STRONG RENTAL APPEAL

Property features AI

Finance

• Financial info: Gross annual income: $33,480; Actual rents by unit: $720, $545, $725, $800; Utilities expense: $1,200; Insurance expense: $1,800

Exterior

• Parking: Off-street parking for 4 vehicles
• Utilities: Electricity available; Natural gas available; Public sewer available; Public water available
• Home design: Multi-family property (4 units)
• Construction: Frame construction; Asphalt roof
• Exterior features: Zoned residential (R)

Interior

• Bedrooms: Two 1-bedroom units; One 2-bedroom unit
• Bathrooms: All units have one full bathroom
• Interior features: Has basement; 4-unit building

What this means for you Summary

Snapshot

• This is a 3×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $329k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $471/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $329k).
• Cap rate 13.4% vs local median 9.5% in Sharpsburg — 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 79/100 on livability (#248 in PA, #2,145 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, schools D-, employment D-.
• Fox Chapel Area SD (suburban): math 73% / reading 85% proficiency, ranked #7 of 539 in PA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 56 active listings in the ZIP; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $5,332/mo this rent would consume 65% of the median local household income ($99k/yr) (locally 311% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $92k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,000

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 1948 — 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 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. 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.
8. 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.
9. 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: 1.62% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.25%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.24% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 1.86×
• Total profit: $79,023
• Equity at exit: $49,055

10-year hold

• IRR: 30.1%
• Equity multiple: 4.00×
• Total profit: $276,493
• Equity at exit: $28,446

Cash invested: $92,120 (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 15215

• Rents YoY: 5.2%
• Active inventory: 56
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $5,332 high
• Mortgage (P&I): −$1,725
• Tax est. 1.5%: −$411 /mo · $4,935/yr
• Insurance: −$137
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,120
• Net cashflow: $1,883

Break-even live

Break-even rent $2,948

Max offer price $329,000

Occupancy floor 60%

Sensitivity live

Price	-10% $2,110	-5% $1,997	+0% $1,883	+5% $1,769	+10% $1,656
Rent	-10% $1,462	-5% $1,672	+0% $1,883	+5% $2,094	+10% $2,304
Rate	-1.0pp $2,049	-0.5pp $1,967	base $1,883	+0.5pp $1,798	+1.0pp $1,711

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,921
1× unit	2	1	$1,412
Total (4 units)			$5,332

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $329,000 Active 6 DOM
2. 2026-06-17
   days on market $329,000 Active 5 DOM
3. 2026-06-16
   days on market $329,000 Active 4 DOM
4. 2026-06-15
   days on market $329,000 Active 3 DOM
5. 2026-06-13
   remarks 581-char remark
6. 2026-06-13
   listed $329,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 19 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: $63,984
• − Mortgage interest: −$18,429
• − Property taxes: −$4,935
• − Insurance: −$2,312
• − Repairs & maintenance: −$5,119
• − Management: −$5,119
• − Depreciation: −$9,571
• Taxable income: $18,500
• Est. tax owed @ 24.0%: −$4,440
• After-tax cash flow: $18,157/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This multi-family home is in good condition with recent renovations, making it a solid investment opportunity in a desirable location.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics, making it more attractive to potential buyers and renters.
• Both Upgrading the kitchen appliances — Modern appliances can improve the home's functionality and appeal to both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the kitchen appliances — Modern appliances can improve the home's functionality and appeal to both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fox Chapel Area SD
• NCES district ID: 4210070
• Math proficiency: 73% ▼ -5.00%
• Reading proficiency: 85% ▼ -2.00%
• Median HH income: $73,326
• Composite: 69.02/100
• National rank: #324
• State rank: #7 of 539 in PA

Livability — Sharpsburg

• Score: 79/100
• State rank: #248
• US rank: #2145

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sharpsburg, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 11,907
• Household income: $99,071
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 311.0

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 (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 7% · China, South Korea, Canada
• Languages at home: 91% English-only · Spanish 2% Chinese 2% Other Indo-European 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: ▼ -171.68%
• Current HPI: 284.7359
• Rent YoY: ▲ 5.24%
• 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

1 event — show timeline

• 2026-06-11 Listed $329,000 West Penn MLS