628 Fallowfield Ave · Charleroi, PA 15022

$162,500

6 bd · 2.0 ba · — sqft · MultiFamily · 237 Days on market

Built 1929 Fair condition 4,599 sqft lot

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Appreciation +4.1/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Unlock the potential of this versatile 2 story commercial building in the heart of Charleroi! Located next to the Charleroi Public Library, this high-visibility property offers a unique blend of commercial & residential space perfect for investors, entrepreneurs, or business owners looking for a central high traffic location. First floor, approx. 4400 sq ft, open concept commercial space with expansive storefront windows, private office & restroom, ideal for retail, office, gallery, or service based businesses. Second floor 3 residential units, 3 BR 2 bath, 2 BR, 1 BR, perfect for rental income or live/work setup. Full basement, spacious and full of development potential, storage, workshop or future expansion. Centrally located, walking distance to shops, cafes, and public transportation. Endless opportunities for retail, mixed use or investment purposes. Whether you are looking to launch your business, grow your portfolio, or live & work in the same building!

Key facts

• Private office
• Full basement
• 4,599 sq ft lot

Tags

• HIGH VISIBILITY PROPERTY
• OPEN CONCEPT COMMERCIAL SPACE
• EXPANSIVE STOREFRONT WINDOWS
• PRIVATE OFFICE
• FULL BASEMENT
• DEVELOPMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $162k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $162k).
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.

Location & tenants

• 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.
• Market conditions: 87 active listings in the ZIP; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.68% ✓
• Cap rate: 13.94%
• Cash-on-cash: 27.32%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (median comp): $58,530
• List price: $162,500
• Delta: 177.64%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 Lookout Ave	0.41mi	5/3.0 (-1)	—	2mo	$35,000	—	58
429 Mckean Ave	0.18mi	5/6.0 (-1)	—	15mo	$199,900	—	46
219 Meadow Ave	0.43mi	5/3.0 (-1)	—	24mo	$75,000	—	39
701 W Liberty	0.69mi	6/3.0	—	19mo	$56,000	—	35

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

Projected returns pro-forma

-1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.05×
• Total profit: $47,806
• Equity at exit: $32,856

10-year hold

• IRR: 30.2%
• Equity multiple: 3.95×
• Total profit: $134,062
• Equity at exit: $29,324

Cash invested: $45,500 (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 15022

• Home prices YoY: -1.0%
• Active inventory: 87
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,733 high
• Mortgage (P&I): −$852
• Tax est. 1.5%: −$203 /mo · $2,438/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $1,036

Break-even live

Break-even rent $1,422

Max offer price $162,500

Occupancy floor 57%

Sensitivity live

Price	-10% $1,148	-5% $1,092	+0% $1,036	+5% $980	+10% $924
Rent	-10% $820	-5% $928	+0% $1,036	+5% $1,144	+10% $1,252
Rate	-1.0pp $1,118	-0.5pp $1,077	base $1,036	+0.5pp $994	+1.0pp $951

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,014
1× unit	2	1	$933
1× unit	1	1	$786
Total (3 units)			$2,733

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: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $162,500 Active 237 DOM
2. 2026-06-17
   days on market $162,500 Active 236 DOM
3. 2026-06-16
   days on market $162,500 Active 235 DOM
4. 2026-06-15
   days on market $162,500 Active 234 DOM
5. 2026-06-13
   days on market $162,500 Active 232 DOM
6. 2026-06-09
   days on market $162,500 Active 228 DOM
7. 2026-06-08
   days on market $162,500 Active 227 DOM
8. 2026-06-07
   days on market $162,500 Active 226 DOM
9. 2026-06-05
   days on market $162,500 Active 223 DOM
10. 2026-06-03
    days on market $162,500 Active 222 DOM
11. 2026-06-02
    days on market $162,500 Active 221 DOM
12. 2026-06-01
    days on market $162,500 Active 220 DOM
13. 2026-05-31
    days on market $162,500 Active 219 DOM
14. 2025-10-24
    listed $162,500 Active 992-char remark

    Show marketing remark (992 chars)

    Unlock the potential of this versatile 2 story commercial building in the heart of Charleroi! Located next to the Charleroi Public Library, this high-visibility property offers a unique blend of commercial & residential space perfect for investors, entrepreneurs, or business owners looking for a central high traffic location. First floor, approx. 4400 sq ft, open concept commercial space with expansive storefront windows, private office & restroom, ideal for retail, office, gallery, or service based businesses. Second floor 3 residential units, 3 BR 2 bath, 2 BR, 1 BR, perfect for rental income or live/work setup. Full basement, spacious and full of development potential, storage, workshop or future expansion. Centrally located, walking distance to shops, cafes, and public transportation. Endless opportunities for retail, mixed use or investment purposes. Whether you are looking to launch your business, grow your portfolio, or live & work in the same building!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $32,796
• − Mortgage interest: −$9,103
• − Property taxes: −$2,438
• − Insurance: −$812
• − Repairs & maintenance: −$2,624
• − Management: −$2,624
• − Depreciation: −$4,727
• Taxable income: $10,469
• Est. tax owed @ 24.0%: −$2,513
• After-tax cash flow: $9,920/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.

Condition & rehab AI · 13 photos

Fair 45/100 Extensive rehab

This 2-story commercial building in Charleroi, PA, requires extensive repairs and updates to its exterior, interior, roof, flooring, and systems. While it has potential, the current condition significantly impacts its value. Investing in these improvements can significantly increase its resale and rental value.

Repairs flagged

• Major Exterior paint — Peeling paint on the brick facade
• Major Interior ceiling — Exposed ceiling with visible damage
• Major Flooring — Concrete floors in need of repair or replacement
• Major Roof — No visible damage, but the overall condition suggests it may need a new roof
• Major Systems — No visible systems, but the overall condition suggests they may need updating

Value-add opportunities

• Resale Exterior paint — Fresh paint can significantly improve the curb appeal and resale value
• Resale Interior ceiling repair — A clean, well-maintained ceiling can enhance the overall appearance and value of the property
• Resale Flooring replacement — New flooring can greatly improve the aesthetic and functionality of the property
• Resale Roof replacement — A new roof can significantly increase the property's value and reduce maintenance costs
• Resale System updates — Up-to-date systems can improve the property's functionality and energy efficiency, enhancing its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Peeling paint on the brick facade	Major	$15,000–50,000
Interior ceiling · Exposed ceiling with visible damage	Major	$15,000–50,000
Flooring · Concrete floors in need of repair or replacement	Major	$15,000–50,000
Roof · No visible damage, but the overall condition suggests it may need a new roof	Major	$15,000–50,000
Systems · No visible systems, but the overall condition suggests they may need updating	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Exterior paint — Fresh paint can significantly improve the curb appeal and resale value ↑
• Resale Interior ceiling repair — A clean, well-maintained ceiling can enhance the overall appearance and value of the property ↑
• Resale Flooring replacement — New flooring can greatly improve the aesthetic and functionality of the property ↑
• Resale Roof replacement — A new roof can significantly increase the property's value and reduce maintenance costs ↑
• Resale System updates — Up-to-date systems can improve the property's functionality and energy efficiency, enhancing its value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Charleroi SD
• NCES district ID: 4205640
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $40,410
• Composite: 29.72/100
• National rank: #6450
• State rank: #421 of 539 in PA

Livability — Charleroi

• Score: 76/100
• State rank: #382
• US rank: #3416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleroi, PA
• Population (ZIP): 10,044

Population outlook (Washington County) Hauer SSP2

• Today (2025): 208,060 people
• By 2030: 207,168 · -0.4%
• By 2040: 202,738 · -2.6%
• By 2050: 195,269 · -6.1%
• By 2075: 175,588 · -15.6%
• By 2100: 145,827 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Black 6%
• Common ancestry: Romanian 8% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+25.5) · D 36.9% · R 62.4%
• 2008→2024 swing: -20.8pp toward R · 2008: -4.7pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+22.8 2016: R+25.3 2012: R+13.3 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.83%
• Current HPI: 174.218
• 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

1 event — show timeline

• 2025-10-24 Listed $162,500 West Penn MLS