602 Mulberry St · Wilkinsburg, PA 15221

$1,110

6 bd · 3.0 ba · 2,878 sqft · MultiFamily public records · 2 Days on market

Built 1910 3,441 sqft lot

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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: 1 unit. estimate disagrees with records

Listing remarks MLS

INVESTORS DELIGHT 3 UNIT VICTORIAN LOCATED IN THE HISTORICAL DISTRICT. SEPERATE GAS & ELECTRIC. NEW BREAKER BOXS, NEW ROOF, FRESHLY PAINTED MANY UPDATES. MONEYMAKER MUST SEE BRING OFFERS

Key facts

• Victorian charm
• Community garden
• 3,441 sq ft lot

Tags

• VICTORIAN CHARM
• SHARED VIBRANT BACKYARD
• WALK-ABLE NEIGHBORHOODS
• COMMUNITY GARDEN
• LARGEST MUNICIPAL PARK

Property features AI

Finance

• Financial info: Assessed value reported; Annual taxes reported

Exterior

• Parking: On-street parking
• Home design: Brick construction
• Construction: Composition roof; Brick exterior
• Exterior features: On-street parking

🏷️ Possibly a rental listed for sale. The $1,110 price doesn't fit this home's estimated sale value (~$66,194) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $1k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1k).
• Cap rate 2810.4% vs local median 10.6% 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); 117 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $3,293/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 $8 of loan paydown is wiped out by about $33 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $311 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,110

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 296.67% ✓
• Cap rate: 2810.40%
• Cash-on-cash: 10014.67%
• DSCR: 446.60
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $66,194
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 Rebecca Ave	0.31mi	5/3.0 (-1)	3,022 (+5%)	21mo	$70,000	$23	55

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 530.09×
• Total profit: $164,441
• Equity at exit: $166

10-year hold

• IRR: —
• Equity multiple: 1171.21×
• Total profit: $363,700
• Equity at exit: $96

Cash invested: $311 (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: 117
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $3,293 high
• Mortgage (P&I): −$6
• Tax est. 1.5%: −$1 /mo · $17/yr
• Insurance: −$0
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $2,538

Break-even live

Break-even rent $80

Max offer price $1,110

Occupancy floor 18%

Sensitivity live

Price	-10% $2,539	-5% $2,539	+0% $2,538	+5% $2,538	+10% $2,537
Rent	-10% $2,278	-5% $2,408	+0% $2,538	+5% $2,668	+10% $2,798
Rate	-1.0pp $2,539	-0.5pp $2,539	base $2,538	+0.5pp $2,538	+1.0pp $2,538

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,294
Total (3 units)			$3,293

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: $278
• Closing costs: $33
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7138 Race St Pittsburgh, PA	5.0	2.0	2500	$2,500	$1.00	2d	1	1.44mi

Listing history 3 events

1. 2026-06-05
   days on market $1,110 Active 2 DOM
2. 2026-06-02
   remarks 675-char remark
3. 2026-06-02
   listed $1,110 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $39,516
• − Mortgage interest: −$62
• − Property taxes: −$17
• − Insurance: −$672
• − Repairs & maintenance: −$3,161
• − Management: −$3,161
• − Depreciation: −$32
• Taxable income: $32,410
• Est. tax owed @ 24.0%: −$7,778
• After-tax cash flow: $22,681/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

-95.1% since first listed

7 events — show timeline

• 2026-06-02 Listed $1,110 West Penn MLS
• 2011-04-28 Listed $79,900 West Penn MLS
• 2005-01-20 Sold (Public Records) $66,000 Public Records
• 2004-11-13 Sold (MLS) $66,000 West Penn MLS
• 2004-07-10 Listed $69,900 West Penn MLS
• 1988-04-27 Sold (Public Records) $25,000 Public Records
• 1977-07-13 Sold (Public Records) $22,500 Public Records

Property tax history

-0.6%/yr

Latest (2026): $1,202 · +3.0% YoY. Source: county tax records.