1020 Lane Way

Greensburg, PA 15601

$105,000B

6 bd · 4.0 ba · — sqft · Built 1919 · Other · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,647/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $635/mo
• Annual: $7,619/yr
• Cap rate: 13.55%
• Cash-on-cash: 25.92%
• DSCR: 2.15
• 1% rule: 1.57%
• Cash to close: $29,400

Investor read

• This is a 6-bed/4.0-bath other listed at $105k.
• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 30 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#584 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, health & safety D+, commute F.
• Greensburg Salem SD (suburban): math 31% / reading 52% proficiency, ranked #346 of 539 in PA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Amos K Hutchinson El Sch (math 32% / reading 48%, grade F, #942 of 1,518 statewide, top 62%, 536 students, 63% FRL); Greensburg-Salem Ms (math 18% / reading 52%, grade F, #322 of 512 statewide, top 64%, 599 students, 52% FRL); Greensburg-Salem Hs (math 62% / reading 34%, grade D, #153 of 437 statewide, top 37%, 820 students, 36% FRL).
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.0%/yr); 294 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 10y 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 $28k; list at $105k implies a 282% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.5% vs local median 2.4% in Greensburg — 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.

Questions for listing agent

• Built in 1919 — 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 B-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?
• 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.