805 2nd Ave · Altoona, PA 16602

$22,000

3 bd · 1.0 ba · 2,021 sqft · SingleFamily · 125 Days on market

Built 1920 3,049 sqft lot $11/sqft · 73% below area ↓ 27% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with over 2,000 square feet ready for transformation. This 3-bedroom, 1-bath, two-story home in Altoona offers a spacious footprint with 2,021 interior square feet on a compact 0.07-acre lot. Built in 1920, the property is currently gutted and requires full interior renovation. Many interior walls are down to the studs and in need of significant repairs which may include, but not limited to electrical, plumbing, walls, flooring, and mechanicals. This is a true as-is sale: seller will make no repairs, offer no credits, and will not be cleaning out the property. Utilities are not on for inspections. The opportunity lies in the layout, square footage, and potential for value-add improvements. This property is not currently habitable in its present condition and is best suited for experienced investors or rehab professionals. Seller is a licensed real estate agent in the state of New York.

Key facts

• 3,049 sq ft lot
• Built 1920
• Listed 124 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.6% vs local median 5.8% in Altoona — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 151 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $5k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $22k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 1920 — 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. 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 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?
7. 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?
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: 5.32% ✓
• Cap rate: 46.57%
• Cash-on-cash: 143.84%
• DSCR: 7.40
• GRM: 1.6

CMA / ARV

• ARV (median comp): $82,751
• List price: $22,000
• Delta: -73.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
917 6th Ave	0.25mi	3/1.5	1,980 (-2%)	3mo	$77,000	$39	80
110 9th St	0.06mi	4/1.0 (+1)	1,886 (-7%)	9mo	$96,000	$51	74
1022 1st Ave	0.22mi	3/1.5	1,850 (-8%)	1mo	$122,000	$66	73
709 Bell Ave	0.18mi	3/1.5	1,860 (-8%)	8mo	$125,000	$67	70
604 1st Ave	0.13mi	4/1.0 (+1)	1,746 (-14%)	0mo	$80,000	$46	66
1500 3rd Ave	0.55mi	4/1.5 (+1)	2,005 (-1%)	1mo	$66,500	$33	65
508-512 5th Ave	0.27mi	3/1.0	1,755 (-13%)	1mo	$75,000	$43	64
216 S 4th St	0.36mi	3/1.0	1,831 (-9%)	8mo	$85,000	$46	60
1308 1st Ave	0.39mi	4/1.0 (+1)	1,866 (-8%)	8mo	$85,000	$46	58
123 2nd Ave	0.52mi	3/2.0	1,853 (-8%)	2mo	$85,000	$46	56
215 Logan Blvd	0.57mi	3/1.5	1,768 (-12%)	2mo	$200,000	$113	49
105 1st Ave	0.56mi	4/1.5 (+1)	1,795 (-11%)	0mo	$109,900	$61	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.06×
• Total profit: $43,501
• Equity at exit: $3,280

10-year hold

• IRR: —
• Equity multiple: 17.01×
• Total profit: $98,593
• Equity at exit: $1,902

Cash invested: $6,160 (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 16602

• Home prices YoY: -30.3%
• Active inventory: 151
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$115
• Tax from tax record: −$62 /mo · $741/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $738

Break-even live

Break-even rent $236

Max offer price $22,000

Occupancy floor 32%

Sensitivity live

Price	-10% $751	-5% $745	+0% $738	+5% $732	+10% $726
Rent	-10% $646	-5% $692	+0% $738	+5% $785	+10% $831
Rate	-1.0pp $749	-0.5pp $744	base $738	+0.5pp $733	+1.0pp $727

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 14th Ave Altoona, PA	3.0	1.0	1600	$1,150	$0.72	44d	1	0.87mi
1102 17th Ave Altoona, PA	3.0	1.0	1430	$899	$0.63	44d	1	0.93mi
2015 12th Ave Altoona, PA	3.0	1.0	1600	$1,200	$0.75	44d	1	1.21mi

Listing history 26 events

1. 2026-06-19
   days on market $22,000 Active 125 DOM
2. 2026-06-18
   days on market $22,000 Active 124 DOM
3. 2026-06-17
   days on market $22,000 Active 123 DOM
4. 2026-06-16
   days on market $22,000 Active 122 DOM
5. 2026-06-15
   days on market $22,000 Active 121 DOM
6. 2026-06-14
   days on market $22,000 Active 119 DOM
7. 2026-06-13
   days on market $22,000 Active 118 DOM
8. 2026-06-10
   days on market $22,000 Active 116 DOM
9. 2026-06-09
   days on market $22,000 Active 115 DOM
10. 2026-06-08
    days on market $22,000 Active 114 DOM
11. 2026-06-07
    days on market $22,000 Active 113 DOM
12. 2026-06-05
    days on market $22,000 Active 110 DOM
13. 2026-06-03
    days on market $22,000 Active 109 DOM
14. 2026-06-02
    days on market $22,000 Active 108 DOM
15. 2026-06-01
    days on market $22,000 Active 107 DOM
16. 2026-05-31
    days on market $22,000 Active 106 DOM
17. 2026-05-30
    days on market $22,000 Active 105 DOM
18. 2026-05-05
    status Active 915-char remark

    Show marketing remark (915 chars)

    Investor special with over 2,000 square feet ready for transformation. This 3-bedroom, 1-bath, two-story home in Altoona offers a spacious footprint with 2,021 interior square feet on a compact 0.07-acre lot. Built in 1920, the property is currently gutted and requires full interior renovation. Many interior walls are down to the studs and in need of significant repairs which may include, but not limited to electrical, plumbing, walls, flooring, and mechanicals. This is a true as-is sale: seller will make no repairs, offer no credits, and will not be cleaning out the property. Utilities are not on for inspections. The opportunity lies in the layout, square footage, and potential for value-add improvements. This property is not currently habitable in its present condition and is best suited for experienced investors or rehab professionals. Seller is a licensed real estate agent in the state of New York.

19. 2026-03-21
    status Pending 915-char remark

    Show marketing remark (915 chars)

    Investor special with over 2,000 square feet ready for transformation. This 3-bedroom, 1-bath, two-story home in Altoona offers a spacious footprint with 2,021 interior square feet on a compact 0.07-acre lot. Built in 1920, the property is currently gutted and requires full interior renovation. Many interior walls are down to the studs and in need of significant repairs which may include, but not limited to electrical, plumbing, walls, flooring, and mechanicals. This is a true as-is sale: seller will make no repairs, offer no credits, and will not be cleaning out the property. Utilities are not on for inspections. The opportunity lies in the layout, square footage, and potential for value-add improvements. This property is not currently habitable in its present condition and is best suited for experienced investors or rehab professionals. Seller is a licensed real estate agent in the state of New York.

20. 2026-02-05
    price $22,000 915-char remark

    Show marketing remark (915 chars)

    Investor special with over 2,000 square feet ready for transformation. This 3-bedroom, 1-bath, two-story home in Altoona offers a spacious footprint with 2,021 interior square feet on a compact 0.07-acre lot. Built in 1920, the property is currently gutted and requires full interior renovation. Many interior walls are down to the studs and in need of significant repairs which may include, but not limited to electrical, plumbing, walls, flooring, and mechanicals. This is a true as-is sale: seller will make no repairs, offer no credits, and will not be cleaning out the property. Utilities are not on for inspections. The opportunity lies in the layout, square footage, and potential for value-add improvements. This property is not currently habitable in its present condition and is best suited for experienced investors or rehab professionals. Seller is a licensed real estate agent in the state of New York.

21. 2025-12-31
    listed $27,000 Active 915-char remark

    Show marketing remark (915 chars)

    Investor special with over 2,000 square feet ready for transformation. This 3-bedroom, 1-bath, two-story home in Altoona offers a spacious footprint with 2,021 interior square feet on a compact 0.07-acre lot. Built in 1920, the property is currently gutted and requires full interior renovation. Many interior walls are down to the studs and in need of significant repairs which may include, but not limited to electrical, plumbing, walls, flooring, and mechanicals. This is a true as-is sale: seller will make no repairs, offer no credits, and will not be cleaning out the property. Utilities are not on for inspections. The opportunity lies in the layout, square footage, and potential for value-add improvements. This property is not currently habitable in its present condition and is best suited for experienced investors or rehab professionals. Seller is a licensed real estate agent in the state of New York.

22. 2025-10-08
    soldstatus $9,000 Closed 91-char remark

    Show marketing remark (91 chars)

    Altoona vinyl two story home. Needs major repairs. AS-IS sale. Seller will make no repairs.

23. 2025-09-16
    status Pending 91-char remark

    Show marketing remark (91 chars)

    Altoona vinyl two story home. Needs major repairs. AS-IS sale. Seller will make no repairs.

24. 2025-09-08
    price $9,900 91-char remark

    Show marketing remark (91 chars)

    Altoona vinyl two story home. Needs major repairs. AS-IS sale. Seller will make no repairs.

25. 2025-08-07
    listed $19,900 Active 91-char remark

    Show marketing remark (91 chars)

    Altoona vinyl two story home. Needs major repairs. AS-IS sale. Seller will make no repairs.

26. 2005-08-25
    listed $30,000

ⓘ 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: $741 · $62/mo
• Projected year-2 tax: $741 · $62/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,046
• − Mortgage interest: −$1,232
• − Property taxes: −$741
• − Insurance: −$110
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$640
• Taxable income: $9,075
• Est. tax owed @ 24.0%: −$2,178
• After-tax cash flow: $6,683/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: Altoona Area SD
• NCES district ID: 4202340
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $38,465
• Composite: 30.85/100
• National rank: #6130
• State rank: #406 of 539 in PA

Livability — Altoona

• Score: 79/100
• State rank: #237
• US rank: #2060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, PA
• County: Blair County · 59,867 people
• City population: 59,867
• Metro: Altoona, PA
• Population (ZIP): 26,352
• Household income: $55,046
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 740.0

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.37%
• Current HPI: 212.2268
• Rent YoY: —
• Metro: Altoona, 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

-26.7% since first listed

9 events — show timeline

• 2026-05-05 Relisted — AHARMLS
• 2026-03-21 Pending — AHARMLS
• 2026-02-05 Price Changed $22,000 AHARMLS
• 2025-12-31 Listed $27,000 AHARMLS
• 2025-10-08 Sold (MLS) $9,000 AHARMLS
• 2025-09-16 Pending — AHARMLS
• 2025-09-08 Price Changed $9,900 AHARMLS
• 2025-08-07 Listed $19,900 AHARMLS
• 2005-08-25 Listed $30,000 AHARMLS

Property tax history

-7.8%/yr

Latest (2025): $741 · +13.0% YoY. Source: county tax records.