503 2nd St

West Elizabeth, PA 15088

$44,900B

3 bd · 1.0 ba · 1,216 sqft · Built 1941 · SingleFamily · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,118/mo
• Mortgage (P&I): −$235
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $517/mo
• Annual: $6,209/yr
• Cap rate: 21.61%
• Cash-on-cash: 54.69%
• DSCR: 3.43
• 1% rule: 2.49%
• Cash to close: $12,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $45k. Condition is rated poor.
• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 75 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#706 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, health & safety D.
• West Jefferson Hills SD (suburban): math 48% / reading 73% proficiency, ranked #60 of 539 in PA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Watch-outs: flood insurance adds $56/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• Crime grade is D 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?

Repairs flagged (vision-AI assessment)

• Major: roof — Snow and debris indicate potential structural damage.
• Major: exterior siding — Weathered and damaged siding needs replacement.
• Major: landscaping — Overgrown yard and debris need removal and landscaping.
• Major: foundation/structure — No visible foundation or structural issues, but the overall condition suggests potential structural concerns.