1029 School St · Indiana, PA 15701

$115,000

5 bd · 2.5 ba · 1,736 sqft · SingleFamily public records · 324 Days on market

Built 1940 0.25 ac lot Est $146k · 21% under ↓ 13% since listing

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +12.5/30.0
• 1% rule +5.2/10.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to get into investing, or just expand your portfolio? Look no further! This well maintained duplex is a reliable renter and ready to work for the next owner. Off street parking and a large yard make this property desirable to renters, and the location can’t be beat. Live in one unit and rent the other, or rent both to students or local professionals! Basement has easy walk out access for water heater and furnace maintenance. Don’t miss this one!

Key facts

• Notable upgrades
• Easy walk out access
• 0.25 acre lot

Tags

• OUTDOOR ENTERTAINMENT SPACE
• GRAVEL OFF STREET PARKING
• EASY WALK OUT ACCESS
• NOTABLE UPGRADES

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$145,824) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-17 ($-200/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (2.6% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 2.2% in Indiana — 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 75/100 on livability (#429 in PA, #3,920 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, employment F.
• Indiana Area SD (town): math 49% / reading 67% proficiency, ranked #96 of 539 in PA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 94 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 44 units permitted in Indiana County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Indiana County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 324 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 324 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.02% ✓
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $145,824
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1195 Washington St	0.22mi	4/2.0 (-1)	1,927 (+11%)	10mo	$54,900	$28	56
634 Maple St	0.62mi	4/2.0 (-1)	1,704 (-2%)	10mo	$236,000	$138	53
1238 Philadelphia St	0.32mi	4/1.5 (-1)	1,872 (+8%)	16mo	$139,000	$74	50
20 S 14th St	0.50mi	4/1.5 (-1)	1,776 (+2%)	20mo	$215,000	$121	47
597 S 6th St	0.66mi	4/2.0 (-1)	1,800 (+4%)	13mo	$152,000	$84	46
598 S 6th St	0.65mi	4/1.0 (-1)	1,578 (-9%)	0mo	$130,000	$82	43
445 S 7th St	0.42mi	4/1.0 (-1)	1,813 (+4%)	23mo	$130,000	$72	43
320 N 7th St	0.57mi	5/1.5	1,650 (-5%)	22mo	$100,000	$61	42
628 South Ave	0.48mi	4/1.5 (-1)	1,520 (-12%)	7mo	$174,000	$114	42
323 S 6th St	0.47mi	4/2.0 (-1)	1,920 (+11%)	22mo	$180,000	$94	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-19,589
• Equity at exit: $17,147

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-17,988
• Equity at exit: $9,943

Cash invested: $32,200 (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 15701

• Home prices YoY: -26.2%
• Active inventory: 94
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$290 /mo · $3,483/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-17

Break-even live

Break-even rent $1,191

Max offer price $112,055

Occupancy floor 96%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1227 W Maple St Indiana, PA	2.0–5.0	1.0–2.5	990	$550	$0.56	44d	1	0.47mi
561 Water St Unit First Floor Indiana, PA	4.0	1.0	1200	$1,200	$1.00	44d	1	0.54mi

Listing history 26 events

1. 2026-06-19
   days on market $115,000 Active 324 DOM
2. 2026-06-18
   days on market $115,000 Active 323 DOM
3. 2026-06-17
   days on market $115,000 Active 322 DOM
4. 2026-06-16
   days on market $115,000 Active 321 DOM
5. 2026-06-15
   days on market $115,000 Active 320 DOM
6. 2026-06-14
   days on market $115,000 Active 318 DOM
7. 2026-06-12
   days on market $115,000 Active 317 DOM
8. 2026-06-09
   days on market $115,000 Active 314 DOM
9. 2026-06-08
   days on market $115,000 Active 313 DOM
10. 2026-06-07
    pricedays on market $115,000 Active 312 DOM
11. 2026-06-02
    days on market $117,777 Active 307 DOM
12. 2026-06-01
    days on market $117,777 Active 306 DOM
13. 2026-05-31
    days on market $117,777 Active 305 DOM
14. 2026-05-30
    days on market $117,777 Active 304 DOM
15. 2026-03-31
    price $117,777 467-char remark

    Show marketing remark (467 chars)

    Ready to get into investing, or just expand your portfolio? Look no further! This well maintained duplex is a reliable renter and ready to work for the next owner. Off street parking and a large yard make this property desirable to renters, and the location can’t be beat. Live in one unit and rent the other, or rent both to students or local professionals! Basement has easy walk out access for water heater and furnace maintenance. Don’t miss this one!

16. 2025-10-01
    price $119,000 467-char remark

    Show marketing remark (467 chars)

    Ready to get into investing, or just expand your portfolio? Look no further! This well maintained duplex is a reliable renter and ready to work for the next owner. Off street parking and a large yard make this property desirable to renters, and the location can’t be beat. Live in one unit and rent the other, or rent both to students or local professionals! Basement has easy walk out access for water heater and furnace maintenance. Don’t miss this one!

17. 2025-08-27
    price $125,000 467-char remark

    Show marketing remark (467 chars)

    Ready to get into investing, or just expand your portfolio? Look no further! This well maintained duplex is a reliable renter and ready to work for the next owner. Off street parking and a large yard make this property desirable to renters, and the location can’t be beat. Live in one unit and rent the other, or rent both to students or local professionals! Basement has easy walk out access for water heater and furnace maintenance. Don’t miss this one!

18. 2025-07-28
    listed $135,000 Active 467-char remark

    Show marketing remark (467 chars)

    Ready to get into investing, or just expand your portfolio? Look no further! This well maintained duplex is a reliable renter and ready to work for the next owner. Off street parking and a large yard make this property desirable to renters, and the location can’t be beat. Live in one unit and rent the other, or rent both to students or local professionals! Basement has easy walk out access for water heater and furnace maintenance. Don’t miss this one!

19. 2024-11-26
    price $155,000 584-char remark

    Show marketing remark (584 chars)

    Remodeled, cash flowing duplex in the heart of a convenient neighborhood to campus in the heart of Indiana. Perfect for an investor looking for a cornerstone portfolio property. Fully occupied, this listing includes an off street parking space and a short walk to and from campus. The lot behind is flat and enjoyable for students or tenants. Upside potential in rents and updates completed throughout, including roof and HVAC systems. The ultimate opportunity for an investor seeking cash flow and low maintenance! Detached garage on the property can be used for extra rental income!

20. 2024-09-07
    listed $165,000 Active 584-char remark

    Show marketing remark (584 chars)

    Remodeled, cash flowing duplex in the heart of a convenient neighborhood to campus in the heart of Indiana. Perfect for an investor looking for a cornerstone portfolio property. Fully occupied, this listing includes an off street parking space and a short walk to and from campus. The lot behind is flat and enjoyable for students or tenants. Upside potential in rents and updates completed throughout, including roof and HVAC systems. The ultimate opportunity for an investor seeking cash flow and low maintenance! Detached garage on the property can be used for extra rental income!

21. 2023-12-03
    historical
22. 2023-09-08
    listed
23. 2023-05-02
    soldstatus $125,000
24. 2023-04-27
    soldstatus $125,000 Closed
25. 2023-04-12
    status Pending
26. 2023-03-06
    listed $135,000 Active

ⓘ 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: $3,483 · $290/mo
• Projected year-2 tax: $3,483 · $290/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,044
• − Mortgage interest: −$6,442
• − Property taxes: −$3,483
• − Insurance: −$575
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$3,345
• Taxable loss: −$2,048
• Est. tax savings @ 24.0%: +$492
• After-tax cash flow: $292/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: Indiana Area SD
• NCES district ID: 4212150
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 67% ▼ -8.00%
• Median HH income: $40,558
• Composite: 48.44/100
• National rank: #2133
• State rank: #96 of 539 in PA

Livability — Indiana

• Score: 75/100
• State rank: #429
• US rank: #3920

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indiana, PA
• County: Indiana County · 31,269 people
• City population: 31,269
• Metro: Indiana, PA
• Population (ZIP): 31,269
• Household income: $56,311
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1590.0

Population outlook (Indiana County) Hauer SSP2

• Today (2025): 84,294 people
• By 2030: 81,773 · -3.0%
• By 2040: 75,213 · -10.8%
• By 2050: 69,348 · -17.7%
• By 2075: 57,951 · -31.3%
• By 2100: 47,313 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 4% Two or more races 3% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 7% Serbian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 2% Arabic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Indiana

• 2024 margin: Solid R (+39.1) · D 30.1% · R 69.2%
• 2008→2024 swing: -32.0pp toward R · 2008: -7.1pp · 2024: -39.1pp
• All cycles: 2024: R+39.1 2020: R+37.5 2016: R+35.6 2012: R+18.8 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.33%
• Current HPI: 167.0982
• Rent YoY: —
• Metro: Indiana, 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

-12.8% since first listed

12 events — show timeline

• 2026-03-31 Price Changed $117,777 West Penn MLS
• 2025-10-01 Price Changed $119,000 West Penn MLS
• 2025-08-27 Price Changed $125,000 West Penn MLS
• 2025-07-28 Listed $135,000 West Penn MLS
• 2024-11-26 Price Changed $155,000 West Penn MLS
• 2024-09-07 Listed $165,000 West Penn MLS
• 2023-12-03 Rental Removed — APPFOLIO
• 2023-09-08 Listed for Rent — APPFOLIO
• 2023-05-02 Sold (Public Records) $125,000 Public Records
• 2023-04-27 Sold (MLS) $125,000 West Penn MLS
• 2023-04-12 Pending — West Penn MLS
• 2023-03-06 Listed $135,000 West Penn MLS

Property tax history

+4.6%/yr

Latest (2026): $3,483 · +1.7% YoY. Source: county tax records.