597 Market St., Leechburg, Pa · Leechburg, PA 15656

$60,000

2 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 244 Days on market

Built 1919 0.26 ac lot $45/sqft · 56% below area

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to this delightful two-story colonial located in the Leechburg School District. Perfectly situated across the street from the scenic Kiski River, this home offers beautiful river views and is just steps from the historic walking bridge connecting Leechburg to Hyde Park. Enjoy the convenience of being within walking distance to Leechburg schools, local shops, dining, and downtown amenities. This inviting home features three spacious bedrooms and one full bath, offering comfortable living space for all. The classic colonial design includes a welcoming layout filled with natural light and character. 2024-25: New vinyl luxury flooring, ceiling fans, doors; 2023' H20, 2020' Interior French drains. Two off-street parking spaces add extra convenience for residents and guests. Experience small-town charm, riverfront scenery, and everyday convenience—all in one place.

Key facts

• Off street parking
• Kiski river views
• 0.26 acre lot

Tags

• KISKI RIVER VIEWS
• HISTORIC WALKING BRIDGE
• WALKING DISTANCE TO SCHOOLS
• OFF STREET PARKING
• VINYL LUXURY FLOORING
• INTERIOR FRENCH DRAINS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#294 in PA, #2,608 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, employment D, commute F.
• Leechburg Area SD (suburban): math 33% / reading 53% proficiency, ranked #303 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 58 units permitted in Armstrong County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k appreciation (10.0% local appreciation)).
• Armstrong County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 244 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $60k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; flood insurance adds $66/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 244 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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 B-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: 1.97% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.27%
• DSCR: 2.17
• GRM: 4.2

CMA / ARV

• ARV (median comp): $135,079
• List price: $60,000
• Delta: -55.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 Beale Ave	0.20mi	2/1.0	1,200 (-10%)	5mo	$134,900	$112	71
420 Washington Ave	0.21mi	3/1.5 (+1)	1,409 (+6%)	11mo	$175,000	$124	63
434 2nd St	0.39mi	3/2.0 (+1)	1,296 (-2%)	8mo	$180,000	$139	63
347 Madison Ave	0.21mi	3/1.5 (+1)	1,430 (+8%)	12mo	$195,000	$136	60
208 Beale Ave	0.31mi	3/1.5 (+1)	1,242 (-6%)	10mo	$159,000	$128	59
61 Kiski Ave	0.68mi	3/1.5 (+1)	1,368 (+3%)	15mo	$33,000	$24	44
428 2nd St	0.39mi	3/2.0 (+1)	1,444 (+9%)	19mo	$50,000	$35	42
214 Floral Ave	0.41mi	3/1.0 (+1)	1,487 (+12%)	18mo	$155,000	$104	40
485 Evergreen Rd	0.63mi	3/1.0 (+1)	1,512 (+14%)	19mo	$36,000	$24	26

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 4.10×
• Total profit: $52,016
• Equity at exit: $54,053

10-year hold

• IRR: 35.0%
• Equity multiple: 9.24×
• Total profit: $138,389
• Equity at exit: $116,567

Cash invested: $16,800 (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 15656

• Home prices YoY: 9.1%
• Active inventory: 31
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,179 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$224 /mo · $2,690/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $301

Break-even live

Break-even rent $798

Max offer price $60,000

Occupancy floor 69%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $60,000 Active 244 DOM
2. 2026-06-17
   days on market $60,000 Active 243 DOM
3. 2026-06-16
   days on market $60,000 Active 242 DOM
4. 2026-06-15
   days on market $60,000 Active 241 DOM
5. 2026-06-13
   days on market $60,000 Active 239 DOM
6. 2026-06-12
   days on market $60,000 Active 238 DOM
7. 2026-06-09
   days on market $60,000 Active 235 DOM
8. 2026-06-08
   days on market $60,000 Active 234 DOM
9. 2026-06-08
   days on market $60,000 Active 233 DOM
10. 2026-06-05
    days on market $60,000 Active 231 DOM
11. 2026-06-04
    days on market $60,000 Active 229 DOM
12. 2026-06-02
    days on market $60,000 Active 228 DOM
13. 2026-06-01
    days on market $60,000 Active 227 DOM
14. 2026-05-31
    days on market $60,000 Active 226 DOM
15. 2026-01-18
    status Active 891-char remark

    Show marketing remark (891 chars)

    Welcome home to this delightful two-story colonial located in the Leechburg School District. Perfectly situated across the street from the scenic Kiski River, this home offers beautiful river views and is just steps from the historic walking bridge connecting Leechburg to Hyde Park. Enjoy the convenience of being within walking distance to Leechburg schools, local shops, dining, and downtown amenities. This inviting home features three spacious bedrooms and one full bath, offering comfortable living space for all. The classic colonial design includes a welcoming layout filled with natural light and character. 2024-25: New vinyl luxury flooring, ceiling fans, doors; 2023' H20, 2020' Interior French drains. Two off-street parking spaces add extra convenience for residents and guests. Experience small-town charm, riverfront scenery, and everyday convenience—all in one place.

16. 2026-01-12
    historical Contingent 891-char remark

    Show marketing remark (891 chars)

    Welcome home to this delightful two-story colonial located in the Leechburg School District. Perfectly situated across the street from the scenic Kiski River, this home offers beautiful river views and is just steps from the historic walking bridge connecting Leechburg to Hyde Park. Enjoy the convenience of being within walking distance to Leechburg schools, local shops, dining, and downtown amenities. This inviting home features three spacious bedrooms and one full bath, offering comfortable living space for all. The classic colonial design includes a welcoming layout filled with natural light and character. 2024-25: New vinyl luxury flooring, ceiling fans, doors; 2023' H20, 2020' Interior French drains. Two off-street parking spaces add extra convenience for residents and guests. Experience small-town charm, riverfront scenery, and everyday convenience—all in one place.

17. 2025-12-29
    price $60,000 891-char remark

    Show marketing remark (891 chars)

    Welcome home to this delightful two-story colonial located in the Leechburg School District. Perfectly situated across the street from the scenic Kiski River, this home offers beautiful river views and is just steps from the historic walking bridge connecting Leechburg to Hyde Park. Enjoy the convenience of being within walking distance to Leechburg schools, local shops, dining, and downtown amenities. This inviting home features three spacious bedrooms and one full bath, offering comfortable living space for all. The classic colonial design includes a welcoming layout filled with natural light and character. 2024-25: New vinyl luxury flooring, ceiling fans, doors; 2023' H20, 2020' Interior French drains. Two off-street parking spaces add extra convenience for residents and guests. Experience small-town charm, riverfront scenery, and everyday convenience—all in one place.

18. 2025-10-17
    listed $67,000 Active 891-char remark

    Show marketing remark (891 chars)

    Welcome home to this delightful two-story colonial located in the Leechburg School District. Perfectly situated across the street from the scenic Kiski River, this home offers beautiful river views and is just steps from the historic walking bridge connecting Leechburg to Hyde Park. Enjoy the convenience of being within walking distance to Leechburg schools, local shops, dining, and downtown amenities. This inviting home features three spacious bedrooms and one full bath, offering comfortable living space for all. The classic colonial design includes a welcoming layout filled with natural light and character. 2024-25: New vinyl luxury flooring, ceiling fans, doors; 2023' H20, 2020' Interior French drains. Two off-street parking spaces add extra convenience for residents and guests. Experience small-town charm, riverfront scenery, and everyday convenience—all in one place.

19. 2019-02-15
    soldstatus $40,000 Sold 710-char remark

    Show marketing remark (710 chars)

    Absolutely Charming 2 Story Colonial home in walking distance of Leechburg School District. Enter onto the enclosed front porch which overlooks the Kiski River. The spacious Living Room has high ceilings throughout the main floor. Off the LR is the Full bathroom. The kitchen has new vinyl flooring & off the kitchen is a covered side porch. Master bedroom on main floor used to be the LR & the LR used to be the Dining Room. The upstairs has 2 very large bedrooms. In basement is a small room used for the kids game room. The back view of home offers a basketball hoop with retaining wall. Under front porch is a small storage room. Parking on the right side of home along with off street parking.

20. 2019-02-07
    status Under Contract 710-char remark

    Show marketing remark (710 chars)

    Absolutely Charming 2 Story Colonial home in walking distance of Leechburg School District. Enter onto the enclosed front porch which overlooks the Kiski River. The spacious Living Room has high ceilings throughout the main floor. Off the LR is the Full bathroom. The kitchen has new vinyl flooring & off the kitchen is a covered side porch. Master bedroom on main floor used to be the LR & the LR used to be the Dining Room. The upstairs has 2 very large bedrooms. In basement is a small room used for the kids game room. The back view of home offers a basketball hoop with retaining wall. Under front porch is a small storage room. Parking on the right side of home along with off street parking.

21. 2018-11-30
    historical Contingent 710-char remark

    Show marketing remark (710 chars)

    Absolutely Charming 2 Story Colonial home in walking distance of Leechburg School District. Enter onto the enclosed front porch which overlooks the Kiski River. The spacious Living Room has high ceilings throughout the main floor. Off the LR is the Full bathroom. The kitchen has new vinyl flooring & off the kitchen is a covered side porch. Master bedroom on main floor used to be the LR & the LR used to be the Dining Room. The upstairs has 2 very large bedrooms. In basement is a small room used for the kids game room. The back view of home offers a basketball hoop with retaining wall. Under front porch is a small storage room. Parking on the right side of home along with off street parking.

22. 2018-11-25
    listed $42,000 Active 710-char remark

    Show marketing remark (710 chars)

    Absolutely Charming 2 Story Colonial home in walking distance of Leechburg School District. Enter onto the enclosed front porch which overlooks the Kiski River. The spacious Living Room has high ceilings throughout the main floor. Off the LR is the Full bathroom. The kitchen has new vinyl flooring & off the kitchen is a covered side porch. Master bedroom on main floor used to be the LR & the LR used to be the Dining Room. The upstairs has 2 very large bedrooms. In basement is a small room used for the kids game room. The back view of home offers a basketball hoop with retaining wall. Under front porch is a small storage room. Parking on the right side of home along with off street parking.

23. 2010-02-26
    price $27,000
24. 2010-02-26
    soldstatus $24,500
25. 2010-02-22
    soldstatus $24,500
26. 2009-10-10
    listed $24,500

ⓘ 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: $2,690 · $224/mo
• Projected year-2 tax: $2,690 · $224/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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,150
• − Mortgage interest: −$3,361
• − Property taxes: −$2,690
• − Insurance: −$1,098
• − Repairs & maintenance: −$1,132
• − Management: −$1,132
• − Depreciation: −$1,745
• Taxable income: $2,992
• Est. tax owed @ 24.0%: −$718
• After-tax cash flow: $2,897/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: Leechburg Area SD
• NCES district ID: 4213470
• Math proficiency: 33% ▼ -13.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $47,241
• Composite: 36.64/100
• National rank: #4618
• State rank: #303 of 539 in PA

Livability — Leechburg

• Score: 78/100
• State rank: #294
• US rank: #2608

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leechburg, PA
• Population (ZIP): 9,766

Population outlook (Armstrong County) Hauer SSP2

• Today (2025): 62,513 people
• By 2030: 59,579 · -4.7%
• By 2040: 52,890 · -15.4%
• By 2050: 45,904 · -26.6%
• By 2075: 32,023 · -48.8%
• By 2100: 20,415 · -67.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 2%
• Common ancestry: Romanian 11% Serbian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Armstrong

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.2%
• 2008→2024 swing: -28.6pp toward R · 2008: -24.6pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+52.3 2016: R+52.0 2012: R+37.2 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.11%
• Current HPI: 252.6103
• Rent YoY: —
• Metro: —
• 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

+144.9% since first listed

12 events — show timeline

• 2026-01-18 Relisted — West Penn MLS
• 2026-01-12 Contingent — West Penn MLS
• 2025-12-29 Price Changed $60,000 West Penn MLS
• 2025-10-17 Listed $67,000 West Penn MLS
• 2019-02-15 Sold (MLS) $40,000 West Penn MLS
• 2019-02-07 Pending — West Penn MLS
• 2018-11-30 Contingent — West Penn MLS
• 2018-11-25 Listed $42,000 West Penn MLS
• 2010-02-26 Sold (MLS) $24,500 West Penn MLS
• 2010-02-26 Price Changed $27,000 West Penn MLS
• 2010-02-22 Sold (Public Records) $24,500 Public Records
• 2009-10-10 Listed $24,500 West Penn MLS

Property tax history

+1.5%/yr

Latest (2026): $2,690 · +1.0% YoY. Source: county tax records.