48 Glasgow Rd · Forest Hills, PA 15221

$215,000

3 bd · 1.0 ba · 2,048 sqft · SingleFamily public records · 6 Days on market

Built 1890 8,407 sqft lot Est $348k · 38% under

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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).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own a classic Forest Hills home situated on two parcels. The adjacent wooded lot enhances the property's sense of privacy and creates a beautiful natural setting, providing additional green space for recreation, gardening, or simply enjoying the outdoors. Offering generous living space, high ceilings, and spacious rooms throughout, this home is filled with character and opportunity. The inviting front porch overlooks a mature treed setting and provides the perfect spot for morning coffee or relaxing evenings. The main level features a welcoming living room, formal dining room, eat-in kitchen, and a versatile bonus room ideal for a home office, playroom, den, or hobby sp

Key facts

• Green space
• Two parcels
• Wooded lot

Tags

• TWO PARCELS
• WOODED LOT
• NATURAL SETTING
• GREEN SPACE
• INVITING FRONT PORCH
• MATURE TREED SETTING

Property features AI

Finance

• HOA & community: Public transportation access

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story residence; Resale property
• Construction: Composition roof
• Exterior features: Lot dimensions approximately 90 x 88 x 100 x 88 feet

Interior

• Kitchen: Dishwasher; Stove; Refrigerator; Some gas appliances
• Flooring: Hardwood; Tile; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Hot water heating; Central air conditioning
• Interior features: Hardwood, tile and carpet flooring; Walk-out basement; Two fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $66 ($795/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 $193k (10.2% below list).
• Recommended offer: $193k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.2% in Forest Hills — 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 83/100 on livability (#112 in PA, #873 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities 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: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• This rent runs 42% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,082 (10.2% below list)

Questions for the listing agent

1. Built in 1890 — 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. 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.
5. 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.
6. 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: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $348,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
344 Woodside Rd	0.20mi	3/2.0	1,773 (-13%)	4mo	$320,000	$180	61
259 Cascade Rd	0.49mi	3/2.0	1,945 (-5%)	7mo	$270,000	$139	59
127 Fairfax Rd	0.50mi	4/2.5 (+1)	2,000 (-2%)	3mo	$315,000	$158	59
1932 Ardmore Blvd	0.44mi	4/2.5 (+1)	2,160 (+6%)	1mo	$380,000	$176	58
1004 Sherwood Rd	0.15mi	3/2.5	1,753 (-14%)	7mo	$399,900	$228	58
813 Maine St	0.28mi	3/2.0	1,768 (-14%)	6mo	$180,000	$102	55
217 Thornberry Dr	0.62mi	4/2.5 (+1)	2,120 (+4%)	1mo	$372,500	$176	54
419 Burlington Rd	0.62mi	4/1.5 (+1)	1,824 (-11%)	1mo	$310,000	$170	44
310 Edgewood Rd	0.55mi	4/2.0 (+1)	1,800 (-12%)	2mo	$324,000	$180	44
440 Pacific Ave	0.72mi	3/2.5	1,848 (-10%)	2mo	$306,000	$166	42
58 Ridge Rd	0.67mi	3/1.0	1,747 (-15%)	8mo	$242,000	$139	38
616 Edgewood Rd	0.65mi	4/2.5 (+1)	2,320 (+13%)	3mo	$262,000	$113	34

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.52×
• Total profit: $-28,924
• Equity at exit: $32,057

10-year hold

• IRR: -3.0%
• Equity multiple: 0.79×
• Total profit: $-12,667
• Equity at exit: $18,589

Cash invested: $60,200 (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 15221

• Home prices YoY: -32.3%
• Rents YoY: 3.9%
• Active inventory: 118
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,931 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$242 /mo · $2,905/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $66

Break-even live

Break-even rent $1,847

Max offer price $215,000

Occupancy floor 92%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2525 Greensburg Pike #305 Pittsburgh, PA	2.0	3.0	2964	$2,975	$1.00	1d	1	0.62mi
442 Locust St Pittsburgh, PA	2.0	1.0	1600	$2,600	$1.62	2d	1	0.96mi
1148 East St Pittsburgh, PA	3.0	3.0	1738	$1,700	$0.98	43d	1	1.14mi
1962 McNary Blvd Pittsburgh, PA	3.0	1.0	1517	$1,545	$1.02	7d	1	1.20mi
2323 Patterson Ave Unit NA Pittsburgh, PA	3.0	1.0	1440	$1,500	$1.04	23d	1	1.21mi
2323 Patterson Ave Pittsburgh, PA	3.0	1.0	1440	$1,800	$1.25	43d	1	1.21mi
2210 Hampton St Pittsburgh, PA	3.0	1.5	1512	$1,650	$1.09	23d	1	1.23mi
1030 Ross Ave Pittsburgh, PA	4.0	3.5	2856	$2,200	$0.77	1d	1	1.30mi
2219 Manor Ave Pittsburgh, PA	3.0	1.0	1638	$1,600	$0.98	23d	1	1.45mi

Listing history 6 events

1. 2026-06-18
   days on market $215,000 Active 6 DOM
2. 2026-06-17
   days on market $215,000 Active 5 DOM
3. 2026-06-16
   days on market $215,000 Active 4 DOM
4. 2026-06-15
   days on market $215,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $215,000 Active 1 DOM

ⓘ 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: $2,905 · $242/mo
• Projected year-2 tax: $3,151 · $263/mo
• Expected delta: +$246/yr (+$21/mo · 8.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,170
• − Mortgage interest: −$12,043
• − Property taxes: −$2,905
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,854
• − Management: −$1,854
• − Depreciation: −$6,255
• Taxable loss: −$2,815
• Est. tax savings @ 24.0%: +$676
• After-tax cash flow: $1,470/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: Woodland Hills SD
• NCES district ID: 4216500
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 30% ▼ -10.00%
• Median HH income: $41,803
• Composite: 18.31/100
• National rank: #8954
• State rank: #486 of 539 in PA

Livability — Forest Hills

• Score: 83/100
• State rank: #112
• US rank: #873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Hills, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 29,374
• Household income: $55,028
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1933.0

Population outlook (Allegheny County) Hauer SSP2

• Today (2025): 1,250,282 people
• By 2030: 1,256,482 · +0.5%
• By 2040: 1,256,318 · +0.5%
• By 2050: 1,244,169 · -0.5%
• By 2075: 1,197,693 · -4.2%
• By 2100: 1,093,187 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 47% Black 43% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Allegheny

• 2024 margin: Strong D (+20.3) · D 59.7% · R 39.4%
• 2008→2024 swing: +4.8pp toward D · 2008: 15.5pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+20.4 2016: D+16.4 2012: D+14.4 2008: D+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.77%
• Current HPI: 230.0486
• Rent YoY: ▲ 3.86%
• 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

1 event — show timeline

• 2026-06-10 Listed $215,000 West Penn MLS

Property tax history

+1.8%/yr

Latest (2026): $2,905 · +5.6% YoY. Source: county tax records.