229 Fallowfield Ave · Charleroi, PA 15022

$69,950

3 bd · 2.0 ba · 1,590 sqft · SingleFamily public records · 37 Days on market

Built 1904 Est $54k · 29% over

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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
• Appreciation +4.1/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Set in the heart of Charleroi& apos; s historic district, this 1904 two-story offers something you rarely find at this price point: three bedrooms, a full and a half bath, and a 17x41 detached garage and workshop with commercial zoning & acirc; & euro; & rdquo; ready for a trade, a side business, serious storage, or a dream hobby space. The home has strong bones and the kind of original early-1900s character you can& apos; t fake. It& apos; s looking for a buyer who& apos; ll bring fresh paint, updated finishes, and a little cosmetic TLC to unlock its full charm. Step outside and you& apos; re on Fallowfield Avenue & acirc; & euro; & rdquo; Char

Key facts

• Historic district
• Detached garage
• Commercial zoning

Tags

• DETACHED GARAGE
• COMMERCIAL ZONING
• HISTORIC DISTRICT
• LOCAL SHOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#382 in PA, #3,416 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, employment F.
• Charleroi SD (rural): math 20% / reading 51% proficiency, ranked #421 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $484 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,851 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.91%
• DSCR: 2.02
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $54,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Lincoln Ave	0.16mi	4/1.0 (+1)	1,452 (-9%)	1mo	$45,000	$31	68
213 Crest Ave	0.21mi	3/1.0	1,449 (-9%)	6mo	$32,000	$22	67
100 Grandview Way	0.43mi	3/1.5	1,503 (-6%)	5mo	$110,000	$73	64
506 Lincoln Ave	0.23mi	3/1.0	1,388 (-13%)	6mo	$35,975	$26	59
907 Crest Ave	0.60mi	3/1.5	1,700 (+7%)	1mo	$53,000	$31	58
811 Prospect Ave	0.51mi	3/1.0	1,463 (-8%)	3mo	$24,000	$16	56
437 Shady Ave	0.42mi	4/1.5 (+1)	1,698 (+7%)	8mo	$58,500	$34	55
167 Maple Ter	0.62mi	3/3.0	1,497 (-6%)	6mo	$180,000	$120	52
413 Shady Ave	0.37mi	3/1.0	1,372 (-14%)	8mo	$50,000	$36	49
26 Petrak St	0.65mi	3/2.5	1,390 (-13%)	0mo	$112,500	$81	46
828 Crest Ave	0.57mi	4/2.0 (+1)	1,762 (+11%)	6mo	$24,000	$14	45
310 Fremont Rd	0.67mi	4/3.0 (+1)	1,488 (-6%)	10mo	$175,000	$118	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 1.64×
• Total profit: $12,519
• Equity at exit: $14,143

10-year hold

• IRR: 21.9%
• Equity multiple: 3.07×
• Total profit: $40,506
• Equity at exit: $12,623

Cash invested: $19,586 (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 15022

• Home prices YoY: -1.0%
• Active inventory: 87
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,159 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$145 /mo · $1,745/yr
• Insurance: −$29
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $318

Break-even live

Break-even rent $756

Max offer price $69,950

Occupancy floor 68%

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: $17,488
• Closing costs: $2,098
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 McKean Ave Charleroi, PA	3.0	3.0	1344	$1,450	$1.08	1d	1	0.71mi
1136 Reservoir Ave Monessen, PA	3.0	2.0	1550	$650	$0.42	1d	1	1.43mi

Listing history 17 events

1. 2026-06-18
   days on market $69,950 Active 37 DOM
2. 2026-06-17
   days on market $69,950 Active 36 DOM
3. 2026-06-16
   days on market $69,950 Active 35 DOM
4. 2026-06-15
   days on market $69,950 Active 34 DOM
5. 2026-06-13
   days on market $69,950 Active 32 DOM
6. 2026-06-09
   days on market $69,950 Active 28 DOM
7. 2026-06-08
   days on market $69,950 Active 27 DOM
8. 2026-06-07
   days on market $69,950 Active 26 DOM
9. 2026-06-05
   days on market $69,950 Active 23 DOM
10. 2026-06-03
    days on market $69,950 Active 22 DOM
11. 2026-06-02
    days on market $69,950 Active 21 DOM
12. 2026-06-01
    days on market $69,950 Active 20 DOM
13. 2026-05-31
    days on market $69,950 Active 19 DOM
14. 2026-05-12
    listed $69,950 Active 1083-char remark
15. 2025-09-25
    status Active
16. 2025-09-14
    historical Contingent
17. 2025-07-09
    listed $68,900 Active

ⓘ 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: $1,745 · $145/mo
• Projected year-2 tax: $1,745 · $145/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥97°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,904
• − Mortgage interest: −$3,918
• − Property taxes: −$1,745
• − Insurance: −$1,016
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$2,035
• Taxable income: $2,964
• Est. tax owed @ 24.0%: −$711
• After-tax cash flow: $3,109/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: Charleroi SD
• NCES district ID: 4205640
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $40,410
• Composite: 29.72/100
• National rank: #6450
• State rank: #421 of 539 in PA

Livability — Charleroi

• Score: 76/100
• State rank: #382
• US rank: #3416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleroi, PA
• Population (ZIP): 10,044

Population outlook (Washington County) Hauer SSP2

• Today (2025): 208,060 people
• By 2030: 207,168 · -0.4%
• By 2040: 202,738 · -2.6%
• By 2050: 195,269 · -6.1%
• By 2075: 175,588 · -15.6%
• By 2100: 145,827 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Black 6%
• Common ancestry: Romanian 8% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+25.5) · D 36.9% · R 62.4%
• 2008→2024 swing: -20.8pp toward R · 2008: -4.7pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+22.8 2016: R+25.3 2012: R+13.3 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.83%
• Current HPI: 174.218
• Rent YoY: —
• Metro: —
• 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

+1.5% since first listed

4 events — show timeline

• 2026-05-12 Listed $69,950 FSBO.com
• 2025-09-25 Relisted — West Penn MLS
• 2025-09-14 Contingent — West Penn MLS
• 2025-07-09 Listed $68,900 West Penn MLS

Property tax history

+6.2%/yr

Latest (2026): $1,745 · +1.2% YoY. Source: county tax records.