507 Center St

East Pittsburgh, PA 15112

$42,900B

3 bd · 2.5 ba · 1,920 sqft · Built 1925 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,136/mo
• Mortgage (P&I): −$225
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $601/mo
• Annual: $7,215/yr
• Cap rate: 23.11%
• Cash-on-cash: 60.07%
• DSCR: 3.67
• 1% rule: 2.65%
• Cash to close: $12,012

Investor read

• This is a 3-bed/2.5-bath single-family listed at $43k.
• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $706 of equity ($297 loan paydown + $409 appreciation (0.9% local appreciation)).
• Location reads 66/100 on livability (#1,022 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: schools F, amenities F, employment F.
• Woodland Hills SD (suburban): math 13% / reading 30% proficiency, ranked #486 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• 9 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $35k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.