639 Washington Ave

Charleroi, PA 15022

$79,900F

7 bd · 3.5 ba · — sqft · Built 1900 · MultiFamily · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $0/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$0
• Net cashflow: $-552/mo
• Annual: $-6,626/yr
• Cap rate: -2.00%
• Cash-on-cash: -29.62%
• DSCR: -0.32
• 1% rule: 0.00%
• Cash to close: $22,372

Investor read

• This is a 7-bed/3.5-bath multifamily listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $-552 ($-7k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• It's been on market 82 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.8%/yr); year-one equity from $552 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#382 in PA, #3,416 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, employment F.
• Charleroi SD (rural): math 20% / reading 51% proficiency, ranked #421 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 87 active listings in the ZIP; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate -2.0% vs local median 15.3% in Charleroi — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• 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?
• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — The exterior siding is visibly damaged and in need of replacement.
• Major: roof — The roof appears to be in poor condition, with visible damage and potential leaks.
• Major: exterior walls — The exterior walls show signs of wear and tear, with some areas appearing to be in need of repainting or repair.
• Major: landscaping — The landscaping appears to be minimal, with some overgrown areas and a lack of maintenance.
• Major: fencing — The fencing appears to be in poor condition, with some sections missing or damaged.
• Major: interior walls — The interior walls and paint appear to be in a state of disrepair, with some areas showing signs of wear and tear, such as peeling paint and missing flooring.