609 E 18th Ave · Munhall, PA 15120

$24,900

2 bd · 1.0 ba · 1,156 sqft · Townhouse public records · 7 Days on market

Built 1892 1,838 sqft lot

---

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 +3.9/5.0
• Rent growth +3.5/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in the heart of Munhall! This row house offers a prime central location just minutes from The Waterfront, with easy access to public transportation, major parkways, parks, shopping, and dining. Property features off-street parking and solid bones, making it an excellent value-add opportunity. In need of cosmetic updates—perfect for investors looking to renovate and maximize returns.

Key facts

• Cosmetic updates
• Off-street parking
• 1,838 sq ft lot

Tags

• PRIME CENTRAL LOCATION
• OFF-STREET PARKING
• VALUE-ADD OPPORTUNITY
• COSMETIC UPDATES

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Resale property
• Construction: Frame construction; Asphalt roof
• Exterior features: Public transportation access

Interior

• Kitchen: Refrigerator; Stove
• Flooring: Tile; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas heating; Heating present
• Interior features: Has basement; Tile and carpet flooring
• Laundry & utility: Washer; Dryer; Some gas appliances

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $25k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 46.4% vs local median 7.3% in Munhall — 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 78/100 on livability (#308 in PA, #2,734 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F.
• Steel Valley SD (suburban): math 29% / reading 45% proficiency, ranked #403 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 92 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,900

Questions for the listing agent

1. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 5.42% ✓
• Cap rate: 46.40%
• Cash-on-cash: 143.24%
• DSCR: 7.37
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $93,636
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 E 17th Ave	0.04mi	2/1.0	1,156 (0%)	2mo	$67,500	$58	97
611 E 17th Ave	0.06mi	2/1.0	1,156 (0%)	10mo	$32,000	$28	89
617 E 19th Ave	0.06mi	2/2.0	1,167 (+1%)	9mo	$114,900	$98	84
623 E 18th Ave	0.02mi	2/1.0	1,156 (0%)	23mo	$94,000	$81	80
712 E 18th Ave	0.06mi	3/2.0 (+1)	1,198 (+4%)	7mo	$195,000	$163	76
320 E 17th St	0.04mi	2/1.0	1,100 (-5%)	20mo	$52,000	$47	73

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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.24×
• Total profit: $50,483
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 18.00×
• Total profit: $118,552
• Equity at exit: $2,153

Cash invested: $6,972 (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 15120

• Home prices YoY: -16.9%
• Rents YoY: 4.1%
• Active inventory: 92
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,350 high
• Mortgage (P&I): −$131
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $832

Break-even live

Break-even rent $297

Max offer price $24,900

Occupancy floor 33%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
623 E 18th Ave Homestead, PA	2.0	1.0	1156	$1,600	$1.38	43d	1	0.05mi
1900 Maple St Unit 4 Homestead, PA	1.0	1.0	1200	$1,400	$1.17	23d	1	0.22mi
621 E 9th Ave Homestead, PA	2.0	2.0	1400	$1,425	$1.02	23d	1	0.38mi
2104 West St Unit 2R Munhall, PA	1.0	1.0	825	$950	$1.15	14d	1	0.38mi
2104 West St Unit 2F Munhall, PA	1.0	1.0	800	$940	$1.18	14d	1	0.38mi
519 E 9th Ave Fl 1 Homestead, PA	1.0	1.0	900	$995	$1.11	10d	1	0.41mi
214 Vine St Homestead, PA	2.0	1.0	1034	$1,150	$1.11	43d	1	0.46mi
300 W 13th Ave Unit 302 Homestead, PA	2.0	1.0	1088	$1,150	$1.06	16d	1	0.49mi
300 W 13th Ave Homestead, PA	2.0	1.0	1088	$1,125	$1.03	16d	1	0.49mi
931 Hilltop St Homestead, PA	3.0	1.5	1312	$1,500	$1.14	14d	1	0.51mi
810 Amity St Unit 2 Homestead, PA	2.0	1.0	800	$995	$1.24	12d	1	0.56mi
811 West St Apt 1B Homestead, PA	1.0	1.0	750	$1,250	$1.67	43d	1	0.59mi
1254 Edgewood Dr Homestead, PA	3.0	1.0	1144	$1,725	$1.51	43d	1	0.88mi
3305 W Run Rd Munhall, PA	2.0	1.0	1100	$1,365	$1.24	23d	1	1.05mi
3705 Botsford St Apt 2 Munhall, PA	3.0	1.0	1000	$1,195	$1.20	43d	1	1.29mi
7122 Harrison Ave Unit 1 Pittsburgh, PA	1.0	1.0	820	$1,100	$1.34	17d	1	1.35mi
212 Kenmawr Ave Braddock, PA	2.0	1.5	1417	$1,300	$0.92	43d	1	1.36mi

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-22
   listed $24,900 Active

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,124 · $94/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,205
• − Mortgage interest: −$1,395
• − Property taxes: −$1,124
• − Insurance: −$124
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$724
• Taxable income: $10,245
• Est. tax owed @ 24.0%: −$2,459
• After-tax cash flow: $7,528/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: Steel Valley SD
• NCES district ID: 4222790
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $39,505
• Composite: 30.94/100
• National rank: #6111
• State rank: #403 of 539 in PA

Livability — Munhall

• Score: 78/100
• State rank: #308
• US rank: #2734

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munhall, PA
• County: Allegheny County · 1,022,028 people
• City population: 18,029
• Metro: Pittsburgh, PA
• Population (ZIP): 18,029
• Household income: $55,714
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 669.0

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 (74%)
• Race & ethnicity: White 74% Black 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

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: ▼ -59.52%
• Current HPI: 292.5607
• Rent YoY: ▲ 4.06%
• 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

2 events — show timeline

• 2026-04-29 Pending — West Penn MLS
• 2026-04-22 Listed $24,900 West Penn MLS

Property tax history

+10.9%/yr

Latest (2026): $1,124 · +3.9% YoY. Source: county tax records.