311 Barnes St · Wilkinsburg, PA 15221

$325,000

3 bd · 3.0 ba · 2,241 sqft · MultiFamily public records · 15 Days on market

Built 1920 3,179 sqft lot Est $287k · 13% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Solid, well maintained Victorian 3 unit on a tree lined street in the Regent Square neighborhood overlooking Whitney Park. Perfect property to add to your investment portfolio or use as an owner-occupied investment. 2 units are already producing income; the 2 BR 2nd floor unit was until recently occupied by owner, now vacant and awaiting your cosmetic updates. With mechanical updates throughout, such as furnace, hot water tank (2024), electric box (2018) and electric drop (2025), a lot of the work is already done. The building still has many of its original features, such as the (freshly) painted porch, entry and stained glass. Coin laundry in basement. Beautiful landscaping, off street par

Key facts

• Tree lined street
• Victorian 3 unit
• Producing income

Tags

• VICTORIAN 3 UNIT
• TREE LINED STREET
• REGENT SQUARE NEIGHBORHOOD
• OVERLOOKING WHITNEY PARK
• PRODUCING INCOME
• MECHANICAL UPDATES

Property features AI

Finance

• Financial info: Three-unit property; Gross income listed at $39,000; Actual rents shown: $875, $925, and $1,450; Vacancy allowance listed (5% / $1,950); Maintenance expense listed at $2,000; Utilities expense listed at $5,400; Insurance expense listed at $1,500

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Electricity available; Natural gas available; Public sewer available; Public water available
• Home design: Brick construction; Composition roof
• Construction: Brick exterior; Composition roof
• Exterior features: Lot roughly 110 x 29; Zoned R-1; Public transportation nearby

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 1-bedroom unit (third unit)
• Bathrooms: Each unit has one full bathroom (3 full bathrooms total)
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Recommended offer: $320k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#411 in PA, #3,754 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, crime F.
• Wilkinsburg Borough SD (suburban): math 14% / reading 23% proficiency, ranked #503 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $4,751/mo this rent would consume 104% of the median local household income ($55k/yr) (locally 1933% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $91k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $78k; list at $325k implies a 319% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $320,125 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.41%
• DSCR: 1.91
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $286,848
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
533 Mifflin Ave	0.35mi	4/2.0 (+1)	1,950 (-13%)	22mo	$250,000	$128	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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.55×
• Total profit: $50,089
• Equity at exit: $48,459

10-year hold

• IRR: 23.1%
• Equity multiple: 3.07×
• Total profit: $188,033
• Equity at exit: $28,100

Cash invested: $91,000 (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: 17.1×

Monthly cashflow live

• Estimated rent: $4,751 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$366 /mo · $4,393/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$998
• Net cashflow: $1,547

Break-even live

Break-even rent $2,792

Max offer price $325,000

Occupancy floor 62%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$4,752
Total (3 units)			$4,751

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
745 Franklin Ave Pittsburgh, PA	4.0	2.0	1948	$1,599	$0.82	43d	1	0.42mi
1030 Ross Ave Pittsburgh, PA	4.0	3.5	2856	$2,200	$0.77	1d	1	0.63mi
442 Locust St Pittsburgh, PA	2.0	1.0	1600	$2,600	$1.62	3d	1	0.75mi
515 Hill Ave Pittsburgh, PA	4.0	1.0	1628	$1,300	$0.80	43d	1	0.77mi
7225 Whipple St Unit 72255 Pittsburgh, PA	3.0	1.5	1440	$1,695	$1.18	3d	1	0.86mi
1148 East St Pittsburgh, PA	3.0	3.0	1738	$1,700	$0.98	43d	1	0.90mi
2210 Hampton St Pittsburgh, PA	3.0	1.5	1512	$1,650	$1.09	23d	1	0.91mi
2219 Manor Ave Pittsburgh, PA	3.0	1.0	1638	$1,600	$0.98	23d	1	1.08mi
2323 Patterson Ave Unit NA Pittsburgh, PA	3.0	1.0	1440	$1,500	$1.04	23d	1	1.11mi
2323 Patterson Ave Pittsburgh, PA	3.0	1.0	1440	$1,800	$1.25	43d	1	1.11mi
7009 Church St Pittsburgh, PA	3.0	2.0	1800	$1,550	$0.86	43d	1	1.17mi
2570 Mount Royal Rd Pittsburgh, PA	4.0	2.5	1848	$3,200	$1.73	16d	1	1.47mi

Listing history 10 events

1. 2026-06-18
   days on market $325,000 Active 15 DOM
2. 2026-06-17
   days on market $325,000 Active 14 DOM
3. 2026-06-16
   days on market $325,000 Active 13 DOM
4. 2026-06-15
   statusdays on market $325,000 Active 12 DOM
5. 2026-06-13
   statusdays on market $325,000 Contingent 10 DOM
6. 2026-06-09
   days on market $325,000 Active 6 DOM
7. 2026-06-08
   days on market $325,000 Active 5 DOM
8. 2026-06-07
   days on market $325,000 Active 4 DOM
9. 2026-06-05
   remarks 699-char remark
10. 2026-06-05
    listed $325,000 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: $4,393 · $366/mo
• Projected year-2 tax: $4,764 · $397/mo
• Expected delta: +$371/yr (+$31/mo · 8.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,012
• − Mortgage interest: −$18,205
• − Property taxes: −$4,393
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,561
• − Management: −$4,561
• − Depreciation: −$9,455
• Taxable income: $14,213
• Est. tax owed @ 24.0%: −$3,411
• After-tax cash flow: $15,159/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: Wilkinsburg Borough SD
• NCES district ID: 4226370
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 23% ▼ -9.00%
• Median HH income: $32,204
• Composite: 14.94/100
• National rank: #9368
• State rank: #503 of 539 in PA

Livability — Wilkinsburg

• Score: 76/100
• State rank: #411
• US rank: #3754

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilkinsburg, PA
• County: Allegheny County · 1,022,028 people
• City population: 29,513
• 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

+1283.0% since first listed

4 events — show timeline

• 2026-06-03 Listed $325,000 West Penn MLS
• 2001-11-13 Sold (Public Records) $77,500 Public Records
• 1986-11-19 Sold (Public Records) $85,000 Public Records
• 1974-08-21 Sold (Public Records) $23,500 Public Records

Property tax history

-1.1%/yr

Latest (2026): $4,393 · +3.0% YoY. Source: county tax records.