1008 1/2 Gaskill Ave

Jeannette, PA 15644

$35,000B-

3 bd · 1.0 ba · 1,472 sqft · Built 1900 · Other · Active · 265 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,247/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $689/mo
• Annual: $8,272/yr
• Cap rate: 29.93%
• Cash-on-cash: 84.41%
• DSCR: 4.76
• 1% rule: 3.56%
• Cash to close: $9,800

Investor read

• This is a 3-bed/1.0-bath other listed at $35k.
• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• It's been on market 265 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,552 in PA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, schools B; Watch: crime D+, amenities F, commute F.
• Jeannette City SD (suburban): math 25% / reading 47% proficiency, ranked #417 of 539 in PA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.4% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 130 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $25k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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?
• 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.