424 N 3rd St

Clairton, PA 15025

$122,500C+

4 bd · 1.5 ba · 1,464 sqft · Built 1924 · SingleFamily · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,541/mo
• Mortgage (P&I): −$642
• Tax + insurance: −$247
• HOA: −$0
• Vac / Maint / Mgmt: −$324
• Net cashflow: $328/mo
• Annual: $3,938/yr
• Cap rate: 9.51%
• Cash-on-cash: 11.48%
• DSCR: 1.51
• 1% rule: 1.26%
• Cash to close: $34,300

Investor read

• This is a 4-bed/1.5-bath single-family listed at $122k.
• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• It's been on market 32 days — a 3% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $847 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#1,308 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, health & safety D+, amenities F.
• Clairton City SD (suburban): math 7% / reading 21% proficiency, ranked #520 of 539 in PA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Clairton El Sch (math 8% / reading 17%, grade F, #1,362 of 1,518 statewide, top 92%, 389 students, 100% FRL); Clairton Ms/Hs (math 6% / reading 22%, grade F, #411 of 437 statewide, top 94%, 418 students, 92% FRL).
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.5%/yr); 95 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• 5 sale attempts since 4y ago; this cycle's ask has dropped $12k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 9.5% vs local median 12.3% in Clairton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1924 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.