422 Buckeye St

South Greensburg, PA 15601

$185,000D

3 bd · 2.0 ba · 1,008 sqft · Built 1960 · Other · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,502/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$227
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $-11/mo
• Annual: $-129/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• 1% rule: 0.81%
• Cash to close: $51,800

Investor read

• This is a 3-bed/2.0-bath other listed at $185k.
• At list price, monthly cash flow is $-11 ($-129/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (18.8% below list).
• It's been on market 30 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (18.8% 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 72/100 on livability (#612 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D, amenities F, commute F.
• Hempfield Area SD (suburban): math 50% / reading 64% proficiency, ranked #90 of 539 in PA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hempfield Area Shs (math 73% / reading 24%, grade D, #151 of 437 statewide, top 35%, 1,661 students, 24% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: Rents rising fast (+8.0%/yr); 294 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y 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 $185k implies a 131% gain — meaningful room to come down on a strong offer.

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?
• Built in 1960 — 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 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?
• 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.