608 Reed Ave · Monessen, PA 15062

$59,900

3 bd · 1.5 ba · 1,440 sqft · Other public records · 67 Days on market

Built 2010 740 sqft lot $42/sqft · 61% below area ↓ 4% since listing

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Nice 2 story in an area that had gone through Redevelopment in 2010, making this a brand new home at that time. Currently in need of carpeting throughout and repair of a section of vinyl siding that was damaged by recent storms. Great home for the first time buyer. There is parking in front of the home and off street parking in the rear, and a table top flat lot. Plenty of basement space too, to add additional living space or just abundant storage. Truly, tons of potential with a little work to turn this place back to its original glory.

Key facts

• Off street parking
• Table top flat lot
• 2 story

Tags

• 2 STORY
• OFF STREET PARKING
• TABLE TOP FLAT LOT
• BASEMENT SPACE
• ABUNDANT STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $60k.

Deal economics

• 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 ($939 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#1,310 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, crime F.
• Monessen City SD (suburban): math 17% / reading 35% proficiency, ranked #568 of 658 in PA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Monessen El Ctr (math 8% / reading 17%, grade F, #1,362 of 1,518 statewide, top 92%, 326 students, 84% FRL); Monessen Ms (math 2% / reading 12%, grade F, #506 of 512 statewide, top 99%, 136 students, 80% FRL); Monessen Shs (math 15%, 193 students, 60% FRL) — zoned schools at 75% FRL track the district average.
• Zoned-school proficiency averages 10% at this address vs 26% district-wide (-16 pts) — the specific schools serving this property underperform the Monessen City SD average; the district grade overstates school quality for this exact location.
• Market conditions: 96 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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: 1.57% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.43%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (median comp): $152,320
• List price: $59,900
• Delta: -60.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 4.19×
• Total profit: $53,497
• Equity at exit: $53,963

10-year hold

• IRR: 36.2%
• Equity multiple: 9.42×
• Total profit: $141,164
• Equity at exit: $116,373

Cash invested: $16,772 (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 15062

• Home prices YoY: 24.2%
• Active inventory: 96
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $939 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $328

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 60%

Sensitivity live

Price	-10% $369	-5% $348	+0% $328	+5% $307	+10% $286
Rent	-10% $253	-5% $290	+0% $328	+5% $365	+10% $402
Rate	-1.0pp $358	-0.5pp $343	base $328	+0.5pp $312	+1.0pp $296

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1136 Reservoir Ave Monessen, PA	3.0	2.0	1550	$650	$0.42	3d	1	0.30mi
925 Leeds Ave Monessen, PA	2.0	1.0	1000	$700	$0.70	16d	1	0.41mi
925 Leeds Ave Monessen, PA	2.0	1.0	1000	$700	$0.70	3d	1	0.41mi
1221 Graham Ave Monessen, PA	3.0	1.0	960	$1,300	$1.35	3d	1	0.75mi
1022 McKean Ave Charleroi, PA	3.0	3.0	1344	$1,450	$1.08	3d	1	1.25mi
1204 Lower Meadow Ave Charleroi, PA	3.0	1.0	1024	$1,150	$1.12	3d	1	1.40mi

Listing history 24 events

1. 2026-06-21
   days on market $59,900 Active 67 DOM
2. 2026-06-21
   days on market $59,900 Active 66 DOM
3. 2026-06-18
   days on market $59,900 Active 64 DOM
4. 2026-06-17
   price $59,900 Active 63 DOM
5. 2026-06-17
   days on market $67,000 Active 63 DOM
6. 2026-06-16
   days on market $67,000 Active 62 DOM
7. 2026-06-15
   days on market $67,000 Active 61 DOM
8. 2026-06-13
   days on market $67,000 Active 59 DOM
9. 2026-06-12
   days on market $67,000 Active 58 DOM
10. 2026-06-09
    days on market $67,000 Active 55 DOM
11. 2026-06-08
    days on market $67,000 Active 54 DOM
12. 2026-06-08
    days on market $67,000 Active 53 DOM
13. 2026-06-05
    days on market $67,000 Active 51 DOM
14. 2026-06-04
    days on market $67,000 Active 49 DOM
15. 2026-06-02
    days on market $67,000 Active 48 DOM
16. 2026-06-01
    days on market $67,000 Active 47 DOM
17. 2026-05-31
    days on market $67,000 Active 46 DOM
18. 2026-05-18
    price $67,000 543-char remark

    Show marketing remark (543 chars)

    Nice 2 story in an area that had gone through Redevelopment in 2010, making this a brand new home at that time. Currently in need of carpeting throughout and repair of a section of vinyl siding that was damaged by recent storms. Great home for the first time buyer. There is parking in front of the home and off street parking in the rear, and a table top flat lot. Plenty of basement space too, to add additional living space or just abundant storage. Truly, tons of potential with a little work to turn this place back to its original glory.

19. 2026-04-15
    listed $74,900 Active 543-char remark

    Show marketing remark (543 chars)

    Nice 2 story in an area that had gone through Redevelopment in 2010, making this a brand new home at that time. Currently in need of carpeting throughout and repair of a section of vinyl siding that was damaged by recent storms. Great home for the first time buyer. There is parking in front of the home and off street parking in the rear, and a table top flat lot. Plenty of basement space too, to add additional living space or just abundant storage. Truly, tons of potential with a little work to turn this place back to its original glory.

20. 2010-12-23
    price $70,000 286-char remark

    Show marketing remark (286 chars)

    Wow! You could be the owner of this New Westmoreland Community Action Home. Super deal for eligible buyers. Must call Vicki Pilato 724 454-3383 for buyer requirements before showing. Taxes estimated to be assessed. Agents great opportunity for qualified buyers 10K program for agents!!!

21. 2010-12-22
    soldstatus $91,000 286-char remark

    Show marketing remark (286 chars)

    Wow! You could be the owner of this New Westmoreland Community Action Home. Super deal for eligible buyers. Must call Vicki Pilato 724 454-3383 for buyer requirements before showing. Taxes estimated to be assessed. Agents great opportunity for qualified buyers 10K program for agents!!!

22. 2010-12-22
    soldstatus $91,000

    Show marketing remark (286 chars)

    Wow! You could be the owner of this New Westmoreland Community Action Home. Super deal for eligible buyers. Must call Vicki Pilato 724 454-3383 for buyer requirements before showing. Taxes estimated to be assessed. Agents great opportunity for qualified buyers 10K program for agents!!!

23. 2010-10-21
    listed $91,000 286-char remark

    Show marketing remark (286 chars)

    Wow! You could be the owner of this New Westmoreland Community Action Home. Super deal for eligible buyers. Must call Vicki Pilato 724 454-3383 for buyer requirements before showing. Taxes estimated to be assessed. Agents great opportunity for qualified buyers 10K program for agents!!!

24. 2010-07-19
    listed $70,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 19 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: $11,263
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$901
• − Management: −$901
• − Depreciation: −$1,743
• Taxable income: $3,165
• Est. tax owed @ 24.0%: −$760
• After-tax cash flow: $3,171/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: Monessen City SD
• NCES district ID: 4215600
• Math proficiency: 17% ▬ 0.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $33,916
• Composite: 24.31/100
• National rank: #13120
• State rank: #568 of 658 in PA

Livability — Monessen

• Score: 62/100
• State rank: #1310
• US rank: #16095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monessen, PA
• City population: 6,825
• Population (ZIP): 6,825

Population outlook (Westmoreland County) Hauer SSP2

• Today (2025): 342,555 people
• By 2030: 331,717 · -3.2%
• By 2040: 304,976 · -11.0%
• By 2050: 277,444 · -19.0%
• By 2075: 224,607 · -34.4%
• By 2100: 171,084 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 19% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Slovak 3% Scotch-Irish 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Westmoreland

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.9%
• 2008→2024 swing: -11.7pp toward R · 2008: -16.7pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+28.3 2016: R+31.3 2012: R+23.7 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 51.33%
• Current HPI: 263.7274
• 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

-4.3% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $67,000 West Penn MLS
• 2026-04-15 Listed $74,900 West Penn MLS
• 2010-12-23 Price Changed $70,000 West Penn MLS
• 2010-12-22 Sold (Public Records) $91,000 Public Records
• 2010-12-22 Sold (MLS) $91,000 West Penn MLS
• 2010-10-21 Listed $91,000 West Penn MLS
• 2010-07-19 Listed $70,000 West Penn MLS

Property tax history

+2.2%/yr

Latest (2026): $3,353 · -0.1% YoY. Source: county tax records.