43 Wagner St · Carnegie, PA 15106

$45,000

2 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 11 Days on market

Built 1940 6,952 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in Carnegie! This property sustained significant fire damage, with approximately half of the structure destroyed. Ideal opportunity for experienced investors, contractors, builders, or rehab specialists seeking a redevelopment project. Existing utilities and residential lot offer potential for restoration, reconstruction, or a fresh start. Convenient location near shopping, dining, major highways, and downtown Pittsburgh. Bring your vision and unlock the possibilities this property offers.

Key facts

• Residential lot
• Existing utilities
• Convenient location

Tags

• EXISTING UTILITIES
• RESIDENTIAL LOT
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: Public transportation access

Exterior

• Parking: Assigned parking for one vehicle
• Utilities: Gas heating; Wall/window air conditioning units
• Home design: 2-story frame home; Asphalt roof; Resale property
• Construction: Frame construction; Asphalt roof
• Exterior features: Lot roughly 50 x 139; Public transportation nearby

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Bedroom on upper level
• Flooring: Hardwood; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (gas); Wall/window cooling units
• Interior features: Hardwood and vinyl flooring; Unfinished walk-up basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 21.9% vs local median 4.5% in Carnegie — 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 86/100 on livability (#55 in PA, #344 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities D.
• Carlynton SD (suburban): math 29% / reading 52% proficiency, ranked #352 of 539 in PA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.5%/yr); 67 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.88% ✓
• Cap rate: 21.93%
• Cash-on-cash: 55.84%
• DSCR: 3.48
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $188,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
998 Chartiers Ave	0.09mi	3/2.0 (+1)	1,122 (-3%)	7mo	$85,000	$76	78
293 Lexington Ct	0.11mi	2/1.0	1,026 (-11%)	8mo	$50,000	$49	68
520 6th Ave	0.49mi	2/1.0	1,084 (-6%)	4mo	$145,000	$134	62
602 7th Ave	0.48mi	2/2.0	1,064 (-8%)	12mo	$75,000	$70	53
134 Boroview Ave	0.75mi	2/1.0	1,206 (+5%)	4mo	$40,000	$33	52
798 Darlington St	0.54mi	2/2.0	1,082 (-6%)	12mo	$241,150	$223	52
128 Delfred Dr	0.66mi	3/1.5 (+1)	1,117 (-3%)	9mo	$250,000	$224	52
524 Reamer Dr	0.24mi	3/1.5 (+1)	1,322 (+15%)	11mo	$260,000	$197	50
602 Hulton St	0.62mi	3/1.0 (+1)	1,219 (+6%)	14mo	$200,000	$164	43
70 Thelma St	0.71mi	2/1.5	1,271 (+10%)	13mo	$210,000	$165	39
559 Boquet St	0.67mi	3/2.0 (+1)	1,288 (+12%)	7mo	$185,568	$144	36
609 6th Ave	0.53mi	3/2.0 (+1)	1,313 (+14%)	14mo	$225,000	$171	34

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 · 5.45% rent growth · sell at horizon

5-year hold

• IRR: 57.4%
• Equity multiple: 3.65×
• Total profit: $33,419
• Equity at exit: $6,710

10-year hold

• IRR: 63.3%
• Equity multiple: 8.28×
• Total profit: $91,693
• Equity at exit: $3,891

Cash invested: $12,600 (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 15106

• Home prices YoY: -31.9%
• Rents YoY: 5.5%
• Active inventory: 67
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,295 high
• Mortgage (P&I): −$236
• Tax from tax record: −$182 /mo · $2,185/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $586

Break-even live

Break-even rent $553

Max offer price $45,000

Occupancy floor 50%

Sensitivity live

Price	-10% $743	-5% $728	+0% $586	+5% $574	+10% $561
Rent	-10% $484	-5% $535	+0% $586	+5% $637	+10% $689
Rate	-1.0pp $609	-0.5pp $598	base $586	+0.5pp $575	+1.0pp $563

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 Lexington Ct Carnegie, PA	2.0	1.0	1144	$1,200	$1.05	11d	1	0.12mi
312 Midland Ave Carnegie, PA	3.0	1.0	1332	$1,400	$1.05	45d	1	0.33mi
622 Logan St Unit 2 Carnegie, PA	2.0	1.0	700	$1,055	$1.51	24d	1	0.64mi
851 Kennedy St Carnegie, PA	3.0	1.0	1100	$1,800	$1.64	24d	1	0.85mi
834 Washington Ave Carnegie, PA	1.0–2.0	1.0–2.0	1026	$1,638	$1.60	4d	11	0.88mi
230 Magazine St Unit 2 Carnegie, PA	2.0	1.0	1200	$1,295	$1.08	45d	1	0.89mi
457 Carothers Ave Unit 6 Carnegie, PA	1.0	1.0	700	$850	$1.21	8d	1	0.89mi
523 Grant Ave Fl 2 Carnegie, PA	1.0	1.0	1000	$1,100	$1.10	45d	1	1.33mi
1640 Ellsworth Ave Unit 2 Heidelberg, PA	2.0	1.0	750	$1,125	$1.50	18d	1	1.34mi
1900 Tee Ct Presto, PA	1.0–3.0	1.0–2.0	981	$1,756	$1.79	2d	9	1.46mi
6 Woodlawn St Apt 2 Crafton, PA	1.0	1.0	725	$895	$1.23	45d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   days on market $45,000 Active 11 DOM
2. 2026-06-18
   days on market $45,000 Active 8 DOM
3. 2026-06-17
   days on market $45,000 Active 7 DOM
4. 2026-06-16
   days on market $45,000 Active 6 DOM
5. 2026-06-15
   days on market $45,000 Active 5 DOM
6. 2026-06-13
   remarks 511-char remark
7. 2026-06-13
   listed $45,000 Active 3 DOM

ⓘ 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: $2,185 · $182/mo
• Projected year-2 tax: $2,185 · $182/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 6/10 Major FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,541
• − Mortgage interest: −$2,521
• − Property taxes: −$2,185
• − Insurance: −$225
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$1,309
• Taxable income: $6,815
• Est. tax owed @ 24.0%: −$1,636
• After-tax cash flow: $5,400/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: Carlynton SD
• NCES district ID: 4205040
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 52% ▼ -11.00%
• Median HH income: $46,249
• Composite: 34.46/100
• National rank: #5192
• State rank: #352 of 539 in PA

Livability — Carnegie

• Score: 86/100
• State rank: #55
• US rank: #344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carnegie, PA
• County: Allegheny County · 1,022,028 people
• City population: 19,244
• Metro: Pittsburgh, PA
• Population (ZIP): 19,244
• Household income: $77,247
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 410.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Asian 2% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 5%
• Languages at home: 94% English-only · Other Indo-European 2% Arabic 1% Russian/Polish/Slavic 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: ▼ -119.52%
• Current HPI: 255.0295
• Rent YoY: ▲ 5.45%
• 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

1 event — show timeline

• 2026-06-08 Listed $45,000 West Penn MLS

Property tax history

+2.4%/yr

Latest (2026): $2,185 · +1.2% YoY. Source: county tax records.