3610 Downing St

Gastonville, PA 15129

$244,000D+

4 bd · 1.0 ba · 2,461 sqft · Built 1910 · SingleFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,112/mo
• Mortgage (P&I): −$1,280
• Tax + insurance: −$532
• HOA: −$0
• Vac / Maint / Mgmt: −$444
• Net cashflow: $-143/mo
• Annual: $-1,720/yr
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• 1% rule: 0.87%
• Cash to close: $68,320

Investor read

• This is a 4-bed/1.0-bath single-family listed at $244k.
• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (13.4% below list).
• It's been on market 64 days — a 6% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $211k (13.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#726 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, health & safety F.
• South Park SD (suburban): math 46% / reading 63% proficiency, ranked #101 of 539 in PA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: South Park Elem Center (math 41% / reading 70%, grade C, #492 of 1,518 statewide, top 33%, 679 students, 35% FRL); South Park Ms (math 38% / reading 60%, grade C-, #140 of 512 statewide, top 28%, 541 students, 32% FRL); South Park Shs (math 77%, 560 students, 22% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 54 active listings in the ZIP; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 2 sale attempts since 4y ago; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.6% vs local median 2.5% in Gastonville — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.