100 2nd St

Braddock, PA 15104

$999,000B

120 bd · 120.0 ba · — sqft · Built — · MultiFamily · Active · 328 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $20,910/mo
• Mortgage (P&I): −$5,239
• Tax + insurance: −$1,807
• HOA: −$0
• Vac / Maint / Mgmt: −$4,391
• Net cashflow: $9,473/mo
• Annual: $113,680/yr
• Cap rate: 17.67%
• Cash-on-cash: 40.64%
• DSCR: 2.81
• 1% rule: 2.09%
• Cash to close: $279,720

Investor read

• This is a 12 × 10-bed/10.0-bath units multifamily listed at $999k.
• At list price, monthly cash flow is $9k ($114k/yr) — positive. Per door: $789/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $999k).
• It's been on market 328 days — a 12% lower offer ($879k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $879k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $7k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#963 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: schools F, amenities F, employment F.
• Woodland Hills SD (suburban): math 13% / reading 30% proficiency, ranked #486 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 37 active listings in the ZIP; lower-income renter base — watch delinquency; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 3 sale attempts since 7y 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 $415k; list at $999k implies a 141% gain — meaningful room to come down on a strong offer.
• At projected returns (-1.6% appreciation + 3.0% rent growth), your $280k cash investment doubles in ~3 years — after that, you're playing with house money.
• At $20,910/mo this rent would consume 626% of the median local household income ($40k/yr) (locally 515% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 328 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.