422 Negley Ave · Butler, PA 16001

$121,500

3 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 171 Days on market

Built 1900 1,742 sqft lot $88/sqft · 64% above area ↓ 10% since listing

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Why this score? — see what drove the D+ 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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• 1% rule +4.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

422 Negley Ave. in Butler, Pa is a charming two-story home located in a well-established neighborhood. This tenant-occupied property features 3 spacious bedrooms and 1 bathroom, offering a functional and comfortable layout. The home’s classic two-story design provides a welcoming feel with ample living space throughout. Its convenient location places it close to local amenities, schools, shopping, and major routes, making it appealing for both residents and investors alike. With steady tenancy already in place, this property presents a great opportunity for long-term value and appeal.

Key facts

• Major routes
• Convenient location
• Local amenities

Tags

• TWO STORY HOME
• WELL ESTABLISHED NEIGHBORHOOD
• CONVENIENT LOCATION
• LOCAL AMENITIES
• MAJOR ROUTES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $109k (10.5% below list).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $840 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $106,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• GRM: 9.3

CMA / ARV

• ARV (median comp): $73,935
• List price: $121,500
• Delta: 64.33%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 W Diamond St	0.16mi	3/1.5	1,367 (-1%)	3mo	$135,000	$99	86
514 S Washington St	0.21mi	3/2.0	1,320 (-4%)	3mo	$82,400	$62	76
100 Madison Ave	0.21mi	3/1.0	1,456 (+6%)	9mo	$65,000	$45	74
414 S Washington St	0.23mi	3/1.0	1,272 (-8%)	4mo	$20,000	$16	73
508 Negley Ave	0.05mi	4/2.0 (+1)	1,255 (-9%)	10mo	$97,335	$78	66
401 New Castle St	0.39mi	3/2.0	1,548 (+12%)	1mo	$119,900	$77	57
515 W Brady St	0.51mi	3/1.0	1,210 (-12%)	4mo	$83,000	$69	52
208 American Ave	0.68mi	4/1.5 (+1)	1,274 (-8%)	4mo	$170,000	$133	45
306 Hempfling St	0.73mi	3/1.0	1,240 (-10%)	8mo	$110,300	$89	43
206 8th Ave	0.58mi	3/2.5	1,560 (+13%)	3mo	$210,000	$135	42
8 Bredin Ave	0.56mi	4/2.0 (+1)	1,520 (+10%)	7mo	$250,000	$164	42
310 American Ave	0.75mi	3/1.0	1,186 (-14%)	9mo	$126,000	$106	35

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: -5.9%
• Equity multiple: 0.77×
• Total profit: $-7,815
• Equity at exit: $18,116

10-year hold

• IRR: 8.6%
• Equity multiple: 1.80×
• Total profit: $27,157
• Equity at exit: $10,505

Cash invested: $34,020 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,088 high
• Mortgage (P&I): −$637
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $97

Break-even live

Break-even rent $965

Max offer price $121,500

Occupancy floor 86%

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: $30,375
• Closing costs: $3,645
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 W Brady St Unit 2 Butler, PA	2.0	1.0	900	$850	$0.94	21d	1	0.51mi
303 Wilson Ave Unit Wilson-313 Butler, PA	3.0	1.0	894	$1,005	$1.12	16d	1	0.54mi
313 Wilson Ave Butler, PA	3.0	1.0	894	$1,005	$1.12	16d	1	0.56mi
415 Brown Ave Butler, PA	3.0	2.5	1640	$1,500	$0.91	12d	1	0.68mi
529 Federal St Unit 2 Butler, PA	2.0	1.0	900	$850	$0.94	43d	1	0.68mi
208 E Walnut St Butler, PA	3.0	1.5	1297	$1,050	$0.81	23d	1	0.72mi
305 American Ave Butler, PA	2.0	1.0	986	$995	$1.01	43d	1	0.74mi
530 N Main St Butler, PA	2.0	2.0	1052	$1,088	$1.03	1d	2	0.92mi
206 Litman Rd Butler, PA	1.0–2.0	1.0	800	$1,170	$1.46	1d	3	1.05mi

Listing history 15 events

1. 2026-06-18
   days on market $121,500 Active 171 DOM
2. 2026-06-17
   days on market $121,500 Active 170 DOM
3. 2026-06-16
   days on market $121,500 Active 169 DOM
4. 2026-06-15
   days on market $121,500 Active 168 DOM
5. 2026-06-13
   days on market $121,500 Active 166 DOM
6. 2026-06-13
   days on market $121,500 Active 165 DOM
7. 2026-06-09
   days on market $121,500 Active 162 DOM
8. 2026-06-08
   days on market $121,500 Active 161 DOM
9. 2026-06-07
   days on market $121,500 Active 160 DOM
10. 2026-06-03
    days on market $121,500 Active 156 DOM
11. 2026-06-02
    days on market $121,500 Active 155 DOM
12. 2026-06-01
    days on market $121,500 Active 154 DOM
13. 2026-05-31
    days on market $121,500 Active 153 DOM
14. 2026-03-18
    price $121,500 597-char remark

    Show marketing remark (597 chars)

    422 Negley Ave. in Butler, Pa is a charming two-story home located in a well-established neighborhood. This tenant-occupied property features 3 spacious bedrooms and 1 bathroom, offering a functional and comfortable layout. The home’s classic two-story design provides a welcoming feel with ample living space throughout. Its convenient location places it close to local amenities, schools, shopping, and major routes, making it appealing for both residents and investors alike. With steady tenancy already in place, this property presents a great opportunity for long-term value and appeal.

15. 2025-12-28
    listed $135,000 Active 597-char remark

    Show marketing remark (597 chars)

    422 Negley Ave. in Butler, Pa is a charming two-story home located in a well-established neighborhood. This tenant-occupied property features 3 spacious bedrooms and 1 bathroom, offering a functional and comfortable layout. The home’s classic two-story design provides a welcoming feel with ample living space throughout. Its convenient location places it close to local amenities, schools, shopping, and major routes, making it appealing for both residents and investors alike. With steady tenancy already in place, this property presents a great opportunity for long-term value and appeal.

ⓘ 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: $897 · $75/mo
• Projected year-2 tax: $1,408 · $117/mo
• Expected delta: +$511/yr (+$43/mo · 57.0%)

ⓘ 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 ≥94°F today · 18 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: $13,051
• − Mortgage interest: −$6,806
• − Property taxes: −$897
• − Insurance: −$608
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$3,535
• Taxable loss: −$882
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $1,372/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

-10.0% since first listed

2 events — show timeline

• 2026-03-18 Price Changed $121,500 West Penn MLS
• 2025-12-28 Listed $135,000 West Penn MLS

Property tax history

+0.8%/yr

Latest (2026): $897 · -6.3% YoY. Source: county tax records.