325 W Cunningham St · Butler, PA 16001

$109,900

3 bd · 1.0 ba · 2,344 sqft · SingleFamily public records · 143 Days on market

Built 1890 4,356 sqft lot Est $156k · 30% under

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.7/10.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

Key facts

• Split utilities
• Cash flowing triplex
• Off street parking

Tags

• CASH FLOWING TRIPLEX
• OFF STREET PARKING
• SPLIT UTILITIES
• UPDATED MECHANICALS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $89k (19.1% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $89k (19.1% below list) — sets the bar for cash-flow.
• Cap rate 10.0% vs local median 3.8% in Butler — 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 71/100 on livability (#705 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D-, amenities F, commute F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,941 (19.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.27% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.33%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $156,496
• List price: $109,900
• Delta: -29.77%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 W Fulton St	0.53mi	3/1.0	2,392 (+2%)	14mo	$110,000	$46	60
222 5th Ave	0.44mi	4/1.0 (+1)	2,039 (-13%)	6mo	$38,600	$19	48
406 Mercer St	0.69mi	3/1.5	2,496 (+6%)	15mo	$185,000	$74	43
110 Fairview Ave	0.58mi	4/2.0 (+1)	2,278 (-3%)	23mo	$229,000	$101	40
115 Mcclain Ave	0.61mi	4/1.5 (+1)	2,124 (-9%)	14mo	$115,000	$54	37
234 N Elm St	0.64mi	3/2.0	2,052 (-12%)	16mo	$32,000	$16	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.43×
• Total profit: $-17,675
• Equity at exit: $16,386

10-year hold

• IRR: 3.3%
• Equity multiple: 1.32×
• Total profit: $9,731
• Equity at exit: $9,502

Cash invested: $30,772 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,397 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$140 /mo · $1,680/yr
• Insurance: −$46
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $-119

Break-even live

Break-even rent $1,548

Max offer price $88,941

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-88	+0% $-119	+5% $-150	+10% $-181
Rent	-10% $-229	-5% $-174	+0% $-119	+5% $-63	+10% $-8
Rate	-1.0pp $-63	-0.5pp $-91	base $-119	+0.5pp $-147	+1.0pp $-176

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 S Washington St Butler, PA	3.0	1.0	3000	$1,672	$0.56	13d	1	0.28mi
415 Brown Ave Butler, PA	3.0	2.5	1640	$1,500	$0.91	13d	1	0.80mi

Listing history 35 events

1. 2026-06-18
   days on market $109,900 Active 143 DOM
2. 2026-06-17
   days on market $109,900 Active 142 DOM
3. 2026-06-16
   days on market $109,900 Active 141 DOM
4. 2026-06-15
   days on market $109,900 Active 140 DOM
5. 2026-06-13
   days on market $109,900 Active 138 DOM
6. 2026-06-13
   days on market $109,900 Active 137 DOM
7. 2026-06-09
   days on market $109,900 Active 134 DOM
8. 2026-06-08
   days on market $109,900 Active 133 DOM
9. 2026-06-07
   days on market $109,900 Active 132 DOM
10. 2026-06-03
    days on market $109,900 Active 128 DOM
11. 2026-06-02
    pricedays on market $109,900 Active 127 DOM
12. 2026-06-01
    days on market $124,900 Active 126 DOM
13. 2026-05-31
    days on market $124,900 Active 125 DOM
14. 2026-05-18
    price $124,900 207-char remark

    Show marketing remark (207 chars)

    Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

15. 2026-05-06
    status Active 207-char remark

    Show marketing remark (207 chars)

    Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

16. 2026-04-08
    historical Contingent 207-char remark

    Show marketing remark (207 chars)

    Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

17. 2026-03-30
    status Active 207-char remark

    Show marketing remark (207 chars)

    Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

18. 2026-02-12
    historical Contingent 207-char remark

    Show marketing remark (207 chars)

    Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

19. 2026-01-26
    listed $130,000 Active 207-char remark

    Show marketing remark (207 chars)

    Cash Flowing Triplex in the heart of Butler! All three units are occupied for immediate cash flow. Off street parking, split utilities, updated mechanicals all make this an attractive investment opportunity.

20. 2022-11-07
    status Pending 333-char remark

    Show marketing remark (333 chars)

    Fully occupied three unit in Butler within walking distance of Main Street Property also has a bus stop in front of the property. Apartment #1 is a two bedroom, one bathroom, Apartments 2 and 3 are each one bedroom, one bathroom. Each unit has a separate heating system, apartment #1 is gas, apartments 2 and 3 have electric heating.

21. 2022-11-07
    soldstatus $108,000 Closed 333-char remark

    Show marketing remark (333 chars)

    Fully occupied three unit in Butler within walking distance of Main Street Property also has a bus stop in front of the property. Apartment #1 is a two bedroom, one bathroom, Apartments 2 and 3 are each one bedroom, one bathroom. Each unit has a separate heating system, apartment #1 is gas, apartments 2 and 3 have electric heating.

22. 2022-10-27
    soldstatus $108,000
23. 2022-09-05
    historical Contingent 333-char remark

    Show marketing remark (333 chars)

    Fully occupied three unit in Butler within walking distance of Main Street Property also has a bus stop in front of the property. Apartment #1 is a two bedroom, one bathroom, Apartments 2 and 3 are each one bedroom, one bathroom. Each unit has a separate heating system, apartment #1 is gas, apartments 2 and 3 have electric heating.

24. 2022-08-12
    price $115,000 333-char remark

    Show marketing remark (333 chars)

    Fully occupied three unit in Butler within walking distance of Main Street Property also has a bus stop in front of the property. Apartment #1 is a two bedroom, one bathroom, Apartments 2 and 3 are each one bedroom, one bathroom. Each unit has a separate heating system, apartment #1 is gas, apartments 2 and 3 have electric heating.

25. 2022-08-01
    listed $125,000 Active 333-char remark

    Show marketing remark (333 chars)

    Fully occupied three unit in Butler within walking distance of Main Street Property also has a bus stop in front of the property. Apartment #1 is a two bedroom, one bathroom, Apartments 2 and 3 are each one bedroom, one bathroom. Each unit has a separate heating system, apartment #1 is gas, apartments 2 and 3 have electric heating.

26. 2019-05-01
    soldstatus $60,000
27. 2019-04-25
    soldstatus $60,000 Sold
28. 2019-04-23
    status Under Contract
29. 2019-03-20
    historical Contingent
30. 2019-02-26
    status Active
31. 2019-02-21
    historical Contingent
32. 2018-06-08
    price $69,500
33. 2018-04-17
    listed $74,900 Active
34. 2018-02-28
    listed $74,900 Active
35. 2018-02-27
    historical Expired

ⓘ 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: $1,680 · $140/mo
• Projected year-2 tax: $1,708 · $142/mo
• Expected delta: +$28/yr (+$2/mo · 1.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,768
• − Mortgage interest: −$6,156
• − Property taxes: −$1,680
• − Insurance: −$6,074
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$3,197
• Taxable loss: −$3,023
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $-698/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: Butler Area SD
• NCES district ID: 4204590
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $49,348
• Composite: 42.65/100
• National rank: #3180
• State rank: #181 of 539 in PA

Livability — Butler

• Score: 71/100
• State rank: #705
• US rank: #6951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler, PA
• County: Butler County · 73,107 people
• City population: 39,234
• Metro: Pittsburgh, PA
• Population (ZIP): 39,234
• Household income: $63,635
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1441.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 190,777 people
• By 2030: 191,476 · +0.4%
• By 2040: 189,474 · -0.7%
• By 2050: 182,050 · -4.6%
• By 2075: 159,526 · -16.4%
• By 2100: 129,028 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+32.2) · D 33.5% · R 65.7%
• 2008→2024 swing: -4.8pp toward R · 2008: -27.4pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+32.5 2016: R+37.5 2012: R+34.9 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.40%
• Current HPI: 222.4445
• Rent YoY: ▲ 20.36%
• 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

+66.8% since first listed

22 events — show timeline

• 2026-05-18 Price Changed $124,900 West Penn MLS
• 2026-05-06 Relisted — West Penn MLS
• 2026-04-08 Contingent — West Penn MLS
• 2026-03-30 Relisted — West Penn MLS
• 2026-02-12 Contingent — West Penn MLS
• 2026-01-26 Listed $130,000 West Penn MLS
• 2022-11-07 Pending — West Penn MLS
• 2022-11-07 Sold (MLS) $108,000 West Penn MLS
• 2022-10-27 Sold (Public Records) $108,000 Public Records
• 2022-09-05 Contingent — West Penn MLS
• 2022-08-12 Price Changed $115,000 West Penn MLS
• 2022-08-01 Listed $125,000 West Penn MLS
• 2019-05-01 Sold (Public Records) $60,000 Public Records
• 2019-04-25 Sold (MLS) $60,000 West Penn MLS
• 2019-04-23 Pending — West Penn MLS
• 2019-03-20 Contingent — West Penn MLS
• 2019-02-26 Relisted — West Penn MLS
• 2019-02-21 Contingent — West Penn MLS
• 2018-06-08 Price Changed $69,500 West Penn MLS
• 2018-04-17 Listed $74,900 West Penn MLS
• 2018-02-28 Listed $74,900 West Penn MLS
• 2018-02-27 Delisted — West Penn MLS

Property tax history

-0.3%/yr

Latest (2026): $1,680 · -6.3% YoY. Source: county tax records.