203 Wood St

Belle Vernon, PA 15012

$10,000C-

4 bd · 1.0 ba · 842 sqft · Built 1950 · SingleFamily · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,195/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$16
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $876/mo
• Annual: $10,510/yr
• Cap rate: 111.39%
• Cash-on-cash: 375.34%
• DSCR: 17.70
• 1% rule: 11.95%
• Cash to close: $2,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $10k.
• At list price, monthly cash flow is $876 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 115 days — a 9% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $9k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($69 loan paydown + $1k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#894 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, health & safety D+, amenities F.
• Belle Vernon Area SD (suburban): math 34% / reading 56% proficiency, ranked #267 of 539 in PA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 94 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $10k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• 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.
• 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.
• 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.