2005 15th Ave · Altoona, PA 16601

$55,000

3 bd · 1.0 ba · 1,735 sqft · SingleFamily · 72 Days on market

Built 1920 3,049 sqft lot $32/sqft · 58% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Opportunity awaits at 2005 15th Ave, Altoona, PA! This spacious 1,735 sq ft home offers 3 bedrooms and 1 bathroom with a functional layout that provides a strong foundation for your next project. The property features 3 good sized rooms and a layout that flows well, making it an excellent candidate for renovation and customization. The home presents a great value-add opportunity for investors, flippers, or buyers looking to bring their vision to life. Situated in a convenient location close to local amenities, this property has solid potential for those willing to put in the work. With the right updates and improvements, this could be transformed into a fantastic residence or rental property.

Key facts

• 3,049 sq ft lot
• Parking
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: 186 active listings in the ZIP; 4 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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. 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 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: 1.98% ✓
• Cap rate: 14.80%
• Cash-on-cash: 30.38%
• DSCR: 2.35
• GRM: 4.2

CMA / ARV

• ARV (median comp): $131,127
• List price: $55,000
• Delta: -58.06%
• 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
2018 15th Ave	0.04mi	4/1.5 (+1)	1,674 (-4%)	6mo	$135,000	$81	80
2022 Pine Ave	0.34mi	2/1.0 (-1)	1,740 (+0%)	1mo	$48,000	$28	78
1605 22nd Ave	0.39mi	3/1.0	1,621 (-7%)	1mo	$139,900	$86	70
1329-31 21st Ave	0.51mi	3/1.5	1,786 (+3%)	3mo	$195,000	$109	67
891 27th St	0.74mi	3/1.0	1,721 (-1%)	2mo	$91,000	$53	63
1419 21st Ave	0.46mi	3/1.5	1,862 (+7%)	3mo	$116,250	$62	62
1611 21st Ave	0.34mi	3/2.0	1,944 (+12%)	3mo	$83,000	$43	57
1415 Washington Ave	0.25mi	2/1.0 (-1)	1,497 (-14%)	6mo	$44,000	$29	55
1225 19th Ave	0.58mi	3/2.0	1,600 (-8%)	2mo	$138,500	$87	54
1406 20th Ave	0.47mi	4/1.0 (+1)	1,558 (-10%)	4mo	$27,000	$17	53
1308 17th Ave	0.52mi	3/2.0	1,483 (-14%)	5mo	$54,800	$37	44
1315 21st Ave	0.54mi	4/2.0 (+1)	1,968 (+13%)	2mo	$160,000	$81	41

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: 25.1%
• Equity multiple: 2.04×
• Total profit: $15,989
• Equity at exit: $8,201

10-year hold

• IRR: 32.9%
• Equity multiple: 4.00×
• Total profit: $46,185
• Equity at exit: $4,755

Cash invested: $15,400 (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 16601

• Home prices YoY: -24.9%
• Active inventory: 186
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $390

Break-even live

Break-even rent $595

Max offer price $55,000

Occupancy floor 59%

Sensitivity live

Price	-10% $421	-5% $405	+0% $390	+5% $374	+10% $359
Rent	-10% $304	-5% $347	+0% $390	+5% $433	+10% $476
Rate	-1.0pp $418	-0.5pp $404	base $390	+0.5pp $376	+1.0pp $361

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2015 12th Ave Altoona, PA	3.0	1.0	1600	$1,200	$0.75	44d	1	0.18mi
1489 Washington Ave Altoona, PA	3.0	1.5	1050	$850	$0.81	44d	1	0.18mi
1326 14th Ave Altoona, PA	3.0	1.0	1600	$1,150	$0.72	44d	1	0.48mi
1102 17th Ave Altoona, PA	3.0	1.0	1430	$899	$0.63	44d	1	0.69mi

Listing history 24 events

1. 2026-06-19
   days on market $55,000 Active 72 DOM
2. 2026-06-18
   days on market $55,000 Active 71 DOM
3. 2026-06-17
   days on market $55,000 Active 70 DOM
4. 2026-06-16
   days on market $55,000 Active 69 DOM
5. 2026-06-15
   days on market $55,000 Active 68 DOM
6. 2026-06-14
   days on market $55,000 Active 66 DOM
7. 2026-06-13
   days on market $55,000 Active 65 DOM
8. 2026-06-10
   days on market $55,000 Active 63 DOM
9. 2026-06-09
   days on market $55,000 Active 62 DOM
10. 2026-06-08
    days on market $55,000 Active 61 DOM
11. 2026-06-07
    days on market $55,000 Active 60 DOM
12. 2026-06-05
    days on market $55,000 Active 57 DOM
13. 2026-06-03
    days on market $55,000 Active 56 DOM
14. 2026-06-02
    days on market $55,000 Active 55 DOM
15. 2026-06-01
    days on market $55,000 Active 54 DOM
16. 2026-05-31
    days on market $55,000 Active 53 DOM
17. 2026-05-30
    days on market $55,000 Active 52 DOM
18. 2026-05-08
    price $55,000 701-char remark

    Show marketing remark (701 chars)

    Opportunity awaits at 2005 15th Ave, Altoona, PA! This spacious 1,735 sq ft home offers 3 bedrooms and 1 bathroom with a functional layout that provides a strong foundation for your next project. The property features 3 good sized rooms and a layout that flows well, making it an excellent candidate for renovation and customization. The home presents a great value-add opportunity for investors, flippers, or buyers looking to bring their vision to life. Situated in a convenient location close to local amenities, this property has solid potential for those willing to put in the work. With the right updates and improvements, this could be transformed into a fantastic residence or rental property.

19. 2026-04-08
    listed $60,000 Active 701-char remark

    Show marketing remark (701 chars)

    Opportunity awaits at 2005 15th Ave, Altoona, PA! This spacious 1,735 sq ft home offers 3 bedrooms and 1 bathroom with a functional layout that provides a strong foundation for your next project. The property features 3 good sized rooms and a layout that flows well, making it an excellent candidate for renovation and customization. The home presents a great value-add opportunity for investors, flippers, or buyers looking to bring their vision to life. Situated in a convenient location close to local amenities, this property has solid potential for those willing to put in the work. With the right updates and improvements, this could be transformed into a fantastic residence or rental property.

20. 2007-11-14
    soldstatus $44,900
21. 2007-10-31
    soldstatus $44,900 121-char remark

    Show marketing remark (121 chars)

    Maintenance free exterior. Newer vinyl siding, vinyl windows, good mechanics. 3 bedrooms fenced yard. Off street parking.

22. 2007-09-27
    listed $44,900 121-char remark

    Show marketing remark (121 chars)

    Maintenance free exterior. Newer vinyl siding, vinyl windows, good mechanics. 3 bedrooms fenced yard. Off street parking.

23. 1991-06-01
    soldstatus $8,000
24. 1966-06-01
    soldstatus $7,000

ⓘ 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: $1,900 · $158/mo
• Projected year-2 tax: $1,900 · $158/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 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $13,057
• − Mortgage interest: −$3,081
• − Property taxes: −$1,900
• − Insurance: −$275
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,600
• Taxable income: $4,111
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $3,691/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): 33,515
• Household income: $58,070
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 715.0

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 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% 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: ▼ -60.97%
• Current HPI: 183.9907
• 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

+685.7% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $55,000 BRIGHT MLS
• 2026-04-08 Listed $60,000 BRIGHT MLS
• 2007-11-14 Sold (Public Records) $44,900 Public Records
• 2007-10-31 Sold (MLS) $44,900 AHARMLS
• 2007-09-27 Listed $44,900 AHARMLS
• 1991-06-01 Sold (Public Records) $8,000 Public Records
• 1966-06-01 Sold (Public Records) $7,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,900 · +13.0% YoY. Source: county tax records.