702 Whitney Ave · Wilkinsburg, PA 15221

$59,000

3 bd · 3.0 ba · 2,472 sqft · MultiFamily public records · 83 Days on market

Built 1902 3,598 sqft lot ↓ 21% since listing

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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 +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Headline: Historic Charm Meets Modern Potential – 3-Unit Rehab in Hamnett Place Unlock the hidden value of 702 Whitney Ave. This 1902-built multi-family gem is nestled on a peaceful dead-end street, offering the perfect blend of privacy and urban convenience. As a comprehensive rehabilitation project with some work already underway, this property is ideal for someone seeking to restore a piece of Pittsburgh history. Commuters will appreciate the proximity to the Hamnett and Wilkinsburg transit hubs, offering a 15-minute direct route to Downtown. Whether you're looking for a long-term hold or a high-end restoration project, this 3-unit building is a standout opportunity in a rapidly a

Key facts

• 3,598 sq ft lot
• Built 1902
• Listed 83 days

Tags

• PEACEFUL DEAD-END STREET
• PROXIMITY TO TRANSIT HUBS
• DIRECT ROUTE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $59k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $703/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• Cap rate 50.3% vs local median 11.3% in Wilkinsburg — 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 76/100 on livability (#411 in PA, #3,754 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, crime F.
• Wilkinsburg Borough SD (suburban): math 14% / reading 23% proficiency, ranked #503 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $3,282/mo this rent would consume 72% of the median local household income ($55k/yr) (locally 1933% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is F 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 5.56% ✓
• Cap rate: 50.30%
• Cash-on-cash: 157.18%
• DSCR: 7.99
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.86% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.73×
• Total profit: $127,681
• Equity at exit: $8,797

10-year hold

• IRR: —
• Equity multiple: 18.94×
• Total profit: $296,444
• Equity at exit: $5,101

Cash invested: $16,520 (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 15221

• Home prices YoY: -32.3%
• Rents YoY: 3.9%
• Active inventory: 118
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,282 high
• Mortgage (P&I): −$309
• Tax from tax record: −$95 /mo · $1,139/yr
• Insurance: −$25
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $2,108

Break-even live

Break-even rent $613

Max offer price $59,000

Occupancy floor 31%

Sensitivity live

Price	-10% $2,142	-5% $2,125	+0% $2,108	+5% $2,092	+10% $2,075
Rent	-10% $1,849	-5% $1,979	+0% $2,108	+5% $2,238	+10% $2,368
Rate	-1.0pp $2,138	-0.5pp $2,123	base $2,108	+0.5pp $2,093	+1.0pp $2,077

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$3,282
Total (3 units)			$3,282

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
745 Franklin Ave Pittsburgh, PA	4.0	2.0	1948	$1,599	$0.82	44d	1	0.22mi
1030 Ross Ave Pittsburgh, PA	4.0	3.5	2856	$2,200	$0.77	2d	1	0.43mi
515 Hill Ave Pittsburgh, PA	4.0	1.0	1628	$1,300	$0.80	44d	1	0.61mi
442 Locust St Pittsburgh, PA	2.0	1.0	1600	$2,600	$1.62	3d	1	0.69mi
1148 East St Pittsburgh, PA	3.0	3.0	1738	$1,700	$0.98	44d	1	0.70mi
2219 Manor Ave Pittsburgh, PA	3.0	1.0	1638	$1,600	$0.98	24d	1	1.18mi
7009 Church St Pittsburgh, PA	3.0	2.0	1800	$1,550	$0.86	44d	1	1.35mi

Listing history 3 events

1. 2026-04-06
   status Pending
2. 2026-03-05
   price $59,000
3. 2026-01-13
   listed $75,000 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: $1,139 · $95/mo
• Projected year-2 tax: $1,139 · $95/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 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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: $39,384
• − Mortgage interest: −$3,305
• − Property taxes: −$1,139
• − Insurance: −$962
• − Repairs & maintenance: −$3,151
• − Management: −$3,151
• − Depreciation: −$1,716
• Taxable income: $25,961
• Est. tax owed @ 24.0%: −$6,231
• After-tax cash flow: $19,069/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: Wilkinsburg Borough SD
• NCES district ID: 4226370
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 23% ▼ -9.00%
• Median HH income: $32,204
• Composite: 14.94/100
• National rank: #9368
• State rank: #503 of 539 in PA

Livability — Wilkinsburg

• Score: 76/100
• State rank: #411
• US rank: #3754

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilkinsburg, PA
• County: Allegheny County · 1,022,028 people
• City population: 29,513
• Metro: Pittsburgh, PA
• Population (ZIP): 29,374
• Household income: $55,028
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1933.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 47% Black 43% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -109.77%
• Current HPI: 230.0486
• Rent YoY: ▲ 3.86%
• 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

-21.3% since first listed

3 events — show timeline

• 2026-04-06 Pending — West Penn MLS
• 2026-03-05 Price Changed $59,000 West Penn MLS
• 2026-01-13 Listed $75,000 West Penn MLS

Property tax history

-0.6%/yr

Latest (2026): $1,139 · +3.0% YoY. Source: county tax records.