400 W Fulton St · Butler, PA 16001

$84,000

3 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 5 Days on market

Built 1900 5,227 sqft lot Est $145k · 42% under

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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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.4/10.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TOTALLY REDONE! BRAND NEW FURNACE SPRING 2019. FIRST FLOOR LAUNDRY, OFF STREET PARKING AND GREAT PORCH. NEWER PLUMBING, ELECTRICAL AND CARPETING. APPLIANCES AND HOME WARRANTY INCLUDED.

Key facts

• Wrap around porch
• Half bath
• Kitchen

Tags

• WRAP AROUND PORCH
• FIRST FLOOR LAUNDRY
• KITCHEN
• LIVING ROOM
• DINING ROOM
• HALF BATH

Property features AI

Exterior

• Parking: On-street parking (1 space indicated)
• Utilities: Public water and sewer (implied); Electric service
• Home design: Two-story home; Resale property
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Lot roughly 50 x 105; 0.12 acre lot

Interior

• Kitchen: Kitchen on main level approximately 16 x 10
• Bedrooms: Bedroom (upper) approximately 13 x 11; Bedroom (upper) approximately 14 x 12
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (gas); Central electric air conditioning
• Interior features: Carpet and vinyl flooring; Unfinished basement with interior entry; Six total rooms
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 9.8% vs local median 3.8% in Butler — 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 71/100 on livability (#705 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D-, amenities F, commute F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.70%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $145,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 E Fulton St	0.45mi	3/1.0	1,288 (-2%)	8mo	$150,000	$116	68
515 W Brady St	0.33mi	3/1.0	1,210 (-8%)	4mo	$83,000	$69	67
208 American Ave	0.49mi	4/1.5 (+1)	1,274 (-4%)	4mo	$170,000	$133	60
526 Forcht St	0.35mi	3/1.0	1,160 (-12%)	4mo	$35,000	$30	60
421 W Diamond St	0.64mi	3/1.5	1,367 (+4%)	3mo	$135,000	$99	59
429 Mercer St	0.42mi	2/2.5 (-1)	1,284 (-3%)	7mo	$149,900	$117	59
306 Hempfling St	0.63mi	3/1.0	1,240 (-6%)	8mo	$110,300	$89	54
217 American Ave	0.53mi	3/1.0	1,152 (-13%)	0mo	$190,500	$165	54
532 N Elm St	0.58mi	2/1.0 (-1)	1,200 (-9%)	0mo	$125,000	$104	53
125 Germaine Rd	0.63mi	3/2.0	1,218 (-8%)	2mo	$233,000	$191	52
330 N Elm St	0.59mi	3/1.0	1,434 (+9%)	8mo	$114,000	$79	52
503 Miller Ave	0.31mi	4/2.0 (+1)	1,500 (+14%)	7mo	$165,000	$110	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.33×
• Total profit: $7,772
• Equity at exit: $12,525

10-year hold

• IRR: 21.2%
• Equity multiple: 3.23×
• Total profit: $52,353
• Equity at exit: $7,263

Cash invested: $23,520 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,044 high
• Mortgage (P&I): −$441
• Tax from tax record: −$101 /mo · $1,208/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $249

Break-even live

Break-even rent $729

Max offer price $84,000

Occupancy floor 71%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
529 Federal St Unit 2 Butler, PA	2.0	1.0	900	$850	$0.94	43d	1	0.21mi
530 N Main St Butler, PA	2.0	2.0	1052	$1,088	$1.03	1d	2	0.29mi
313 Wilson Ave Butler, PA	3.0	1.0	894	$1,005	$1.12	16d	1	0.29mi
303 Wilson Ave Unit Wilson-313 Butler, PA	3.0	1.0	894	$1,005	$1.12	16d	1	0.31mi
327 W Brady St Unit 2 Butler, PA	2.0	1.0	900	$850	$0.94	21d	1	0.33mi
208 E Walnut St Butler, PA	3.0	1.5	1297	$1,050	$0.81	23d	1	0.48mi
305 American Ave Butler, PA	2.0	1.0	986	$995	$1.01	43d	1	0.57mi
415 Brown Ave Butler, PA	3.0	2.5	1640	$1,500	$0.91	12d	1	1.28mi

Listing history 26 events

1. 2026-05-18
   status Pending
2. 2026-05-15
   historical Contingent
3. 2026-05-13
   listed $84,000 Active
4. 2026-02-06
   historical Contingent
5. 2026-01-13
   listed $84,000 Active
6. 2019-05-29
   soldstatus $89,000
7. 2019-05-28
   status Under Contract 184-char remark

   Show marketing remark (184 chars)

   TOTALLY REDONE! BRAND NEW FURNACE SPRING 2019. FIRST FLOOR LAUNDRY, OFF STREET PARKING AND GREAT PORCH. NEWER PLUMBING, ELECTRICAL AND CARPETING. APPLIANCES AND HOME WARRANTY INCLUDED.

8. 2019-05-24
   soldstatus $89,000 Sold 184-char remark

   Show marketing remark (184 chars)

   TOTALLY REDONE! BRAND NEW FURNACE SPRING 2019. FIRST FLOOR LAUNDRY, OFF STREET PARKING AND GREAT PORCH. NEWER PLUMBING, ELECTRICAL AND CARPETING. APPLIANCES AND HOME WARRANTY INCLUDED.

9. 2019-05-02
   listed Contingent 184-char remark

   Show marketing remark (184 chars)

   TOTALLY REDONE! BRAND NEW FURNACE SPRING 2019. FIRST FLOOR LAUNDRY, OFF STREET PARKING AND GREAT PORCH. NEWER PLUMBING, ELECTRICAL AND CARPETING. APPLIANCES AND HOME WARRANTY INCLUDED.

10. 2019-05-02
    listed $89,000 184-char remark

    Show marketing remark (184 chars)

    TOTALLY REDONE! BRAND NEW FURNACE SPRING 2019. FIRST FLOOR LAUNDRY, OFF STREET PARKING AND GREAT PORCH. NEWER PLUMBING, ELECTRICAL AND CARPETING. APPLIANCES AND HOME WARRANTY INCLUDED.

11. 2019-04-30
    historical Expired
12. 2018-07-27
    status Active
13. 2018-07-16
    historical Contingent
14. 2018-05-01
    listed $89,000 Active
15. 2018-04-04
    historical Expired
16. 2018-03-20
    status Active
17. 2018-03-12
    historical Contingent
18. 2017-04-05
    listed $89,000 Active
19. 2017-03-27
    historical Expired
20. 2016-03-28
    listed $92,000 Active
21. 2016-03-23
    historical Expired
22. 2016-03-09
    price $92,000
23. 2015-04-10
    listed $95,000 Active
24. 2014-03-25
    listed $99,900
25. 2007-07-26
    soldstatus $32,000
26. 2007-05-30
    listed $30,000

ⓘ 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: $1,208 · $101/mo
• Projected year-2 tax: $1,267 · $106/mo
• Expected delta: +$60/yr (+$5/mo · 4.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,532
• − Mortgage interest: −$4,705
• − Property taxes: −$1,208
• − Insurance: −$420
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$2,444
• Taxable income: $1,750
• Est. tax owed @ 24.0%: −$420
• After-tax cash flow: $2,567/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: Butler Area SD
• NCES district ID: 4204590
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $49,348
• Composite: 42.65/100
• National rank: #3180
• State rank: #181 of 539 in PA

Livability — Butler

• Score: 71/100
• State rank: #705
• US rank: #6951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler, PA
• County: Butler County · 73,107 people
• City population: 39,234
• Metro: Pittsburgh, PA
• Population (ZIP): 39,234
• Household income: $63,635
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1441.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 190,777 people
• By 2030: 191,476 · +0.4%
• By 2040: 189,474 · -0.7%
• By 2050: 182,050 · -4.6%
• By 2075: 159,526 · -16.4%
• By 2100: 129,028 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+32.2) · D 33.5% · R 65.7%
• 2008→2024 swing: -4.8pp toward R · 2008: -27.4pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+32.5 2016: R+37.5 2012: R+34.9 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.40%
• Current HPI: 222.4445
• Rent YoY: ▲ 20.36%
• 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

+180.0% since first listed

26 events — show timeline

• 2026-05-18 Pending — West Penn MLS
• 2026-05-15 Contingent — West Penn MLS
• 2026-05-13 Listed $84,000 West Penn MLS
• 2026-02-06 Contingent — West Penn MLS
• 2026-01-13 Listed $84,000 West Penn MLS
• 2019-05-29 Sold (Public Records) $89,000 Public Records
• 2019-05-28 Pending — West Penn MLS
• 2019-05-24 Sold (MLS) $89,000 West Penn MLS
• 2019-05-02 Listed — West Penn MLS
• 2019-05-02 Listed $89,000 West Penn MLS
• 2019-04-30 Delisted — West Penn MLS
• 2018-07-27 Relisted — West Penn MLS
• 2018-07-16 Contingent — West Penn MLS
• 2018-05-01 Listed $89,000 West Penn MLS
• 2018-04-04 Delisted — West Penn MLS
• 2018-03-20 Relisted — West Penn MLS
• 2018-03-12 Contingent — West Penn MLS
• 2017-04-05 Listed $89,000 West Penn MLS
• 2017-03-27 Delisted — West Penn MLS
• 2016-03-28 Listed $92,000 West Penn MLS
• 2016-03-23 Delisted — West Penn MLS
• 2016-03-09 Price Changed $92,000 West Penn MLS
• 2015-04-10 Listed $95,000 West Penn MLS
• 2014-03-25 Listed $99,900 West Penn MLS
• 2007-07-26 Sold (MLS) $32,000 West Penn MLS
• 2007-05-30 Listed $30,000 West Penn MLS

Property tax history

+0.8%/yr

Latest (2026): $1,208 · -6.3% YoY. Source: county tax records.