129 N Washington St · Butler, PA 16001

$189,900

6 bd · 1.5 ba · — sqft · MultiFamily · 172 Days on market

1,611 sqft lot Est $154k · 23% over

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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 +17.6/30.0
• DSCR +5.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

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

Well-maintained 3-story building (currently used as a music and art studio) is ideal for finished office space, studio use, training rooms, insurance, and more. Conveniently located just off Main Street, the building includes 2 off-street parking spaces, ample street parking, and 2 public parking lots nearby. This potential multi-unit building features separate utility meters and 2 separate entrances: a street-level entrance leading into a waiting/entry area with access to the main level unit, and a side entrance providing access to the 2nd unit (2nd + 3rd floor). Rooms include: Main Level- Front + side entrance, 1 lobby area, 1 open office/admin space, 3 private offices, 1 utility room w/ sink, & 1 Restroom with toilet/sink. 2nd Level- 2 larger private offices, 1 smaller office, & 1 Restroom with toilet/sink. 3rd Level- 1 large gathering space & 1 Restroom with toilet/sink. Basement- 1 entrance area, 1 private finished room, 1 storage room, & 1 large utility room space.

Key facts

• 3 story building
• Music and art studio
• Waiting entry area

Tags

• 3 STORY BUILDING
• MUSIC AND ART STUDIO
• FINISHED OFFICE SPACE
• SEPARATE UTILITY METERS
• 2 SEPARATE ENTRANCES
• WAITING ENTRY AREA

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (2.6% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#705 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D-, amenities F, commute F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Butler Area Ihs (math 25% / reading 55%, grade F, #257 of 512 statewide, top 52%, 1,342 students, 47% FRL); Butler Area Shs (math 72% / reading 30%, grade D+, #123 of 437 statewide, top 28%, 1,989 students, 31% FRL).
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. Crime grade is D 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?
6. 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?
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: 0.97% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (median comp): $154,422
• List price: $189,900
• Delta: 22.97%
• 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
401 N Mckean St	0.27mi	5/2.0 (-1)	—	7mo	$145,000	—	62
209 211 College St	0.53mi	7/3.0 (+1)	—	5mo	$69,500	—	48
556 2nd St	0.68mi	6/2.0	—	20mo	$79,000	—	37
303 & 305 2nd St	0.70mi	7/3.5 (+1)	—	8mo	$194,900	—	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.78×
• Total profit: $-11,468
• Equity at exit: $28,315

10-year hold

• IRR: 9.3%
• Equity multiple: 1.88×
• Total profit: $46,857
• Equity at exit: $16,419

Cash invested: $53,172 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $149

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 87%

Sensitivity live

Price	-10% $280	-5% $215	+0% $149	+5% $84	+10% $18
Rent	-10% $3	-5% $76	+0% $149	+5% $222	+10% $295
Rate	-1.0pp $245	-0.5pp $197	base $149	+0.5pp $100	+1.0pp $50

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

Units	Beds	Baths	Est. rent
▸ 2× units	0	0	$1,850
Total (2 units)			$1,850

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $189,900 Active 172 DOM
2. 2026-06-18
   days on market $189,900 Active 169 DOM
3. 2026-06-17
   days on market $189,900 Active 168 DOM
4. 2026-06-16
   days on market $189,900 Active 167 DOM
5. 2026-06-15
   days on market $189,900 Active 166 DOM
6. 2026-06-13
   days on market $189,900 Active 164 DOM
7. 2026-06-13
   days on market $189,900 Active 163 DOM
8. 2026-06-09
   days on market $189,900 Active 160 DOM
9. 2026-06-08
   days on market $189,900 Active 159 DOM
10. 2026-06-07
    days on market $189,900 Active 158 DOM
11. 2026-06-03
    days on market $189,900 Active 154 DOM
12. 2026-06-02
    days on market $189,900 Active 153 DOM
13. 2026-06-01
    days on market $189,900 Active 152 DOM
14. 2026-05-31
    days on market $189,900 Active 151 DOM
15. 2025-12-31
    listed $189,900 Active 1006-char remark

    Show marketing remark (1006 chars)

    Well-maintained 3-story building (currently used as a music and art studio) is ideal for finished office space, studio use, training rooms, insurance, and more. Conveniently located just off Main Street, the building includes 2 off-street parking spaces, ample street parking, and 2 public parking lots nearby. This potential multi-unit building features separate utility meters and 2 separate entrances: a street-level entrance leading into a waiting/entry area with access to the main level unit, and a side entrance providing access to the 2nd unit (2nd + 3rd floor). Rooms include: Main Level- Front + side entrance, 1 lobby area, 1 open office/admin space, 3 private offices, 1 utility room w/ sink, & 1 Restroom with toilet/sink. 2nd Level- 2 larger private offices, 1 smaller office, & 1 Restroom with toilet/sink. 3rd Level- 1 large gathering space & 1 Restroom with toilet/sink. Basement- 1 entrance area, 1 private finished room, 1 storage room, & 1 large utility room space.

ⓘ 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: $22,200
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,524
• Taxable loss: −$1,312
• Est. tax savings @ 24.0%: +$315
• After-tax cash flow: $2,105/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: Butler Area SD
• NCES district ID: 4204590
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $49,348
• Composite: 42.65/100
• National rank: #3180
• State rank: #181 of 539 in PA

Livability — Butler

• Score: 71/100
• State rank: #705
• US rank: #6951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler, PA
• County: Butler County · 73,107 people
• City population: 39,234
• Metro: Pittsburgh, PA
• Population (ZIP): 39,234
• Household income: $63,635
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1441.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 190,777 people
• By 2030: 191,476 · +0.4%
• By 2040: 189,474 · -0.7%
• By 2050: 182,050 · -4.6%
• By 2075: 159,526 · -16.4%
• By 2100: 129,028 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+32.2) · D 33.5% · R 65.7%
• 2008→2024 swing: -4.8pp toward R · 2008: -27.4pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+32.5 2016: R+37.5 2012: R+34.9 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.40%
• Current HPI: 222.4445
• Rent YoY: ▲ 20.36%
• 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

1 event — show timeline

• 2025-12-31 Listed $189,900 West Penn MLS