134 Meade Ave · Bellevue, PA 15202

$139,900

3 bd · 2.0 ba · 2,246 sqft · MultiFamily public records · 9 Days on market

Built 1886 7,501 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Rent growth +3.8/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Step back in time and discover the incredible potential of this Victorian home in Bellevue Borough. Boasting 7 bedrooms, 2 full bathrooms, soaring ceilings, and four stunning original fireplaces, this three-story residence is rich with historic charm and architectural character. Many original features have been preserved, offering a rare opportunity to restore and customize a true classic. The home sits on a generous lot with both front and rear yard space, providing room for outdoor enjoyment and entertaining. Conveniently located just three blocks from Lincoln Avenue, you'll enjoy easy access to local restaurants, coffee shops, bars, and neighborhood amenities. The property offers spaciou

Key facts

• Front and rear yard
• Generous lot
• Victorian home

Tags

• VICTORIAN HOME
• ORIGINAL FIREPLACES
• GENEROUS LOT
• FRONT AND REAR YARD
• SPACIOUS LIVING AREAS
• FLEXIBLE FLOOR PLAN

Property features AI

Finance

• HOA & community: Public transportation access

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: 3-story residence; Resale property; Slate roof
• Construction: Frame construction
• Exterior features: On-street parking; Public transportation nearby

Interior

• Flooring: Hardwood
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Hardwood floors; Full basement with walk-out access; Decorative fireplaces (4)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.8% vs local median 4.0% in Bellevue — 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 92/100 on livability (#9 in PA, #35 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Northgate SD (suburban): math 25% / reading 57% proficiency, ranked #354 of 539 in PA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 80 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $20k; list at $140k implies a 600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1886 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.51%
• DSCR: 1.56
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.20×
• Total profit: $7,713
• Equity at exit: $20,860

10-year hold

• IRR: 16.5%
• Equity multiple: 2.50×
• Total profit: $58,911
• Equity at exit: $12,096

Cash invested: $39,172 (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 15202

• Home prices YoY: -30.2%
• Rents YoY: 5.2%
• Active inventory: 80
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,915 high
• Mortgage (P&I): −$734
• Tax from tax record: −$312 /mo · $3,745/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $409

Break-even live

Break-even rent $1,398

Max offer price $139,900

Occupancy floor 74%

Sensitivity live

Price	-10% $488	-5% $448	+0% $409	+5% $369	+10% $329
Rent	-10% $257	-5% $333	+0% $409	+5% $484	+10% $560
Rate	-1.0pp $479	-0.5pp $444	base $409	+0.5pp $372	+1.0pp $335

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
713 Clinton Pl Pittsburgh, PA	4.0	2.0	1760	$2,750	$1.56	2d	1	0.41mi
555 Orchard Ave Bellevue, PA	3.0	1.0	1400	$1,295	$0.93	44d	1	0.54mi
189 N Balph Ave Pittsburgh, PA	3.0	1.0	1550	$1,850	$1.19	44d	1	0.67mi
421 N Ohio St Pittsburgh, PA	3.0	2.0	1747	$2,700	$1.55	2d	1	0.95mi
22 Harlem Ave #1 McKees Rocks, PA	2.0	1.0	1944	$745	$0.38	22d	1	1.29mi
135 Dunn St Mc Kees Rocks, PA	3.0	2.0	1600	$1,599	$1.00	20d	1	1.32mi
27 Highland Ave Mc Kees Rocks, PA	3.0	1.0	1488	$1,425	$0.96	24d	1	1.40mi

Listing history 8 events

1. 2026-06-18
   days on market $139,900 Active 9 DOM
2. 2026-06-17
   days on market $139,900 Active 8 DOM
3. 2026-06-16
   days on market $139,900 Active 7 DOM
4. 2026-06-15
   days on market $139,900 Active 6 DOM
5. 2026-06-13
   days on market $139,900 Active 4 DOM
6. 2026-06-13
   days on market $139,900 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $139,900 Active 1 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: $3,745 · $312/mo
• Projected year-2 tax: $3,745 · $312/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,976
• − Mortgage interest: −$7,837
• − Property taxes: −$3,745
• − Insurance: −$700
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$4,070
• Taxable income: $2,948
• Est. tax owed @ 24.0%: −$708
• After-tax cash flow: $4,195/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: Northgate SD
• NCES district ID: 4217770
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $39,084
• Composite: 34.15/100
• National rank: #5279
• State rank: #354 of 539 in PA

Livability — Bellevue

• Score: 92/100
• State rank: #9
• US rank: #35

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 19,564
• Household income: $68,287
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 952.0

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 (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -118.40%
• Current HPI: 274.1929
• Rent YoY: ▲ 5.16%
• 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

+204.1% since first listed

3 events — show timeline

• 2026-06-08 Listed $139,900 West Penn MLS
• 2026-02-09 Sold (Public Records) $20,000 Public Records
• 1979-10-29 Sold (Public Records) $46,000 Public Records

Property tax history

+3.7%/yr

Latest (2026): $3,745 · +2.8% YoY. Source: county tax records.