304 Pilgrim Way · Sharpsburg, PA 15215

$194,900

4 bd · 2.0 ba · 1,610 sqft · MultiFamily public records · 302 Days on market

Built 1900 1,681 sqft lot Est $353k · 45% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +6.9/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Fantastic Investment Opportunity! Great Side by Side Frame Duplex in the heart of Sharpsburg in the Fox Chapel School District!!! A very rare find! Unit 1 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Unit 2 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Utilities split- 2 electric meters, 2 gas meters, and 1 water meter. 2 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Small rear yard for morning coffee or cookouts! One unit renovated the other is semi dated w a long-term tenant in place. Upgrade a unit to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

Key facts

• 2 furnaces
• 2 electric meters
• 1 water meter

Tags

• FOX CHAPEL SCHOOL DISTRICT
• 2 ELECTRIC METERS
• 2 GAS METERS
• 1 WATER METER
• 2 ELECTRIC PANELS
• 2 FURNACES

🏷️ Possibly a rental listed for sale. The $194,900 price doesn't fit this home's estimated sale value (~$353,458) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive. Per door: $98/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#248 in PA, #2,145 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, schools D-, employment D-.
• Fox Chapel Area SD (suburban): math 73% / reading 85% proficiency, ranked #7 of 539 in PA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 56 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).

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

• It's been on market 302 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 8→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 302 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.27% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.44%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

• ARV (median comp): $353,458
• List price: $194,900
• Delta: -44.86%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.24% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-13,093
• Equity at exit: $29,060

10-year hold

• IRR: 6.6%
• Equity multiple: 1.56×
• Total profit: $30,344
• Equity at exit: $16,851

Cash invested: $54,572 (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 15215

• Rents YoY: 5.2%
• Active inventory: 56
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $2,472 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$193 /mo · $2,314/yr
• Insurance: −$81
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $196

Break-even live

Break-even rent $2,223

Max offer price $194,900

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,472
Total (2 units)			$2,472

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 8th St Sharpsburg, PA	4.0	2.0	2240	$2,100	$0.94	17d	1	0.18mi
207 Mary St Sharpsburg, PA	3.0	1.0	1100	$1,395	$1.27	23d	1	0.58mi
209 Mary St Sharpsburg, PA	3.0	1.0	1100	$1,395	$1.27	23d	1	0.58mi
6026 Sawyer St Unit NA Pittsburgh, PA	3.0	2.0	2231	$2,500	$1.12	19d	1	0.59mi
160 56th St Pittsburgh, PA	3.0	3.0	1737	$3,900	$2.25	19d	1	0.89mi
404 Reetz St Pittsburgh, PA	4.0	1.0	1500	$2,050	$1.37	16d	1	1.24mi
20 Beyrleye Ave Pittsburgh, PA	3.0	2.0	1100	$1,350	$1.23	23d	1	1.30mi
5700 Bunkerhill St Pittsburgh, PA	1.0–3.0	1.0–2.0	1258	$3,236	$2.57	1d	17	1.37mi

Listing history 28 events

1. 2026-06-18
   days on market $194,900 Active 302 DOM
2. 2026-06-17
   days on market $194,900 Active 301 DOM
3. 2026-06-16
   days on market $194,900 Active 300 DOM
4. 2026-06-15
   days on market $194,900 Active 299 DOM
5. 2026-06-13
   days on market $194,900 Active 297 DOM
6. 2026-06-09
   days on market $194,900 Active 293 DOM
7. 2026-06-08
   days on market $194,900 Active 292 DOM
8. 2026-06-07
   days on market $194,900 Active 291 DOM
9. 2026-06-03
   days on market $194,900 Active 287 DOM
10. 2026-06-02
    days on market $194,900 Active 286 DOM
11. 2026-06-01
    days on market $194,900 Active 285 DOM
12. 2026-05-31
    days on market $194,900 Active 284 DOM
13. 2026-03-20
    price $194,900 792-char remark

    Show marketing remark (792 chars)

    Fantastic Investment Opportunity! Great Side by Side Frame Duplex in the heart of Sharpsburg in the Fox Chapel School District!!! A very rare find! Unit 1 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Unit 2 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Utilities split- 2 electric meters, 2 gas meters, and 1 water meter. 2 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Small rear yard for morning coffee or cookouts! One unit renovated the other is semi dated w a long-term tenant in place. Upgrade a unit to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

14. 2025-12-02
    price $199,900 792-char remark

    Show marketing remark (792 chars)

    Fantastic Investment Opportunity! Great Side by Side Frame Duplex in the heart of Sharpsburg in the Fox Chapel School District!!! A very rare find! Unit 1 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Unit 2 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Utilities split- 2 electric meters, 2 gas meters, and 1 water meter. 2 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Small rear yard for morning coffee or cookouts! One unit renovated the other is semi dated w a long-term tenant in place. Upgrade a unit to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

15. 2025-08-20
    listed $215,000 Active 792-char remark

    Show marketing remark (792 chars)

    Fantastic Investment Opportunity! Great Side by Side Frame Duplex in the heart of Sharpsburg in the Fox Chapel School District!!! A very rare find! Unit 1 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Unit 2 (Occupied 2/1): Living, Kitchen, Bedroom, Bedroom, and Full Bath. Utilities split- 2 electric meters, 2 gas meters, and 1 water meter. 2 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Small rear yard for morning coffee or cookouts! One unit renovated the other is semi dated w a long-term tenant in place. Upgrade a unit to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

16. 2023-10-16
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

17. 2023-10-06
    soldstatus $95,000 Closed 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

18. 2023-08-27
    historical Contingent 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

19. 2023-08-18
    price $110,000 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

20. 2023-07-04
    price $139,900 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

21. 2023-06-06
    price $149,900 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

22. 2023-05-02
    listed $165,000 Active 200-char remark

    Show marketing remark (200 chars)

    Great Investor Opportunity! Enjoy owning a profitable property you can maintain as is, or update to your preference, in the Sharpsburg area. Side by side duplex with small yard space in rear of units.

23. 2011-04-06
    soldstatus $40,000
24. 2011-03-11
    price $49,900
25. 2011-03-11
    soldstatus $40,000
26. 2010-08-24
    listed $40,000
27. 1997-10-22
    soldstatus $40,000
28. 1994-11-01
    soldstatus $18,000

ⓘ 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: $2,314 · $193/mo
• Projected year-2 tax: $2,697 · $225/mo
• Expected delta: +$383/yr (+$32/mo · 16.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 8 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,664
• − Mortgage interest: −$10,917
• − Property taxes: −$2,314
• − Insurance: −$6,500
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − Depreciation: −$5,670
• Taxable loss: −$483
• Est. tax savings @ 24.0%: +$116
• After-tax cash flow: $2,472/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: Fox Chapel Area SD
• NCES district ID: 4210070
• Math proficiency: 73% ▼ -5.00%
• Reading proficiency: 85% ▼ -2.00%
• Median HH income: $73,326
• Composite: 69.02/100
• National rank: #324
• State rank: #7 of 539 in PA

Livability — Sharpsburg

• Score: 79/100
• State rank: #248
• US rank: #2145

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sharpsburg, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 11,907
• Household income: $99,071
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 311.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 7% · China, South Korea, Canada
• Languages at home: 91% English-only · Spanish 2% Chinese 2% Other Indo-European 2%

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: ▼ -171.68%
• Current HPI: 284.7359
• Rent YoY: ▲ 5.24%
• 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

+982.8% since first listed

16 events — show timeline

• 2026-03-20 Price Changed $194,900 West Penn MLS
• 2025-12-02 Price Changed $199,900 West Penn MLS
• 2025-08-20 Listed $215,000 West Penn MLS
• 2023-10-16 Pending — West Penn MLS
• 2023-10-06 Sold (MLS) $95,000 West Penn MLS
• 2023-08-27 Contingent — West Penn MLS
• 2023-08-18 Price Changed $110,000 West Penn MLS
• 2023-07-04 Price Changed $139,900 West Penn MLS
• 2023-06-06 Price Changed $149,900 West Penn MLS
• 2023-05-02 Listed $165,000 West Penn MLS
• 2011-04-06 Sold (Public Records) $40,000 Public Records
• 2011-03-11 Sold (MLS) $40,000 West Penn MLS
• 2011-03-11 Price Changed $49,900 West Penn MLS
• 2010-08-24 Listed $40,000 West Penn MLS
• 1997-10-22 Sold (Public Records) $40,000 Public Records
• 1994-11-01 Sold (Public Records) $18,000 Public Records

Property tax history

+2.1%/yr

Latest (2026): $2,314 · +1.3% YoY. Source: county tax records.