321 E 18th Ave · Homestead, PA 15120

$265,000

4 bd · 2.0 ba · 1,734 sqft · MultiFamily public records · 89 Days on market

Built 1900 4,408 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Schools +3.1/10.0
• 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: 4 units. confirmed

Listing remarks MLS

If you are looking for a 4 unit to start your investment journey or to grow your portfolio, you have found the right one! This 4 unit is all 2 bedroom 1 bathroom units. 3 of the units are currently leased and 4th unit is being renovated now and will be leased as soon as complete. Rents can be raised on all 3 currently leased units with some updates. Sewage lines here are being updated as well as plumbing in the property.

Key facts

• Plumbing updated
• Sewage lines updated
• Currently leased

Tags

• 4 UNIT
• 2 BEDROOM 1 BATHROOM UNITS
• CURRENTLY LEASED
• BEING RENOVATED
• SEWAGE LINES UPDATED
• PLUMBING UPDATED

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#366 in PA, #3,204 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Steel Valley SD (suburban): math 29% / reading 45% proficiency, ranked #403 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Steel Valley Ms (math 17% / reading 38%, grade F, #399 of 512 statewide, top 79%, 404 students, 100% FRL); Steel Valley Shs (math 57%, 400 students, 88% FRL) — zoned schools average 94% FRL vs 57% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 93 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $4,398/mo this rent would consume 95% of the median local household income ($56k/yr) (locally 669% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $74k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago 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.
• Current owner paid $215k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.66% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.87%
• DSCR: 2.28
• GRM: 5.0

CMA / ARV

• ARV (median comp): $122,444
• List price: $265,000
• Delta: 116.43%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.02×
• Total profit: $75,485
• Equity at exit: $39,512

10-year hold

• IRR: 32.8%
• Equity multiple: 4.13×
• Total profit: $231,937
• Equity at exit: $22,912

Cash invested: $74,200 (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 15120

• Home prices YoY: -16.9%
• Rents YoY: 4.1%
• Active inventory: 93
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $4,398 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$189 /mo · $2,268/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $1,785

Break-even live

Break-even rent $2,138

Max offer price $265,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,935	-5% $1,860	+0% $1,785	+5% $1,710	+10% $1,635
Rent	-10% $1,438	-5% $1,612	+0% $1,785	+5% $1,959	+10% $2,133
Rate	-1.0pp $1,919	-0.5pp $1,853	base $1,785	+0.5pp $1,717	+1.0pp $1,647

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,400
Total (4 units)			$4,398

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
931 Hilltop St Homestead, PA	3.0	1.5	1312	$1,500	$1.14	16d	1	0.54mi
351 W 12th Ave Homestead, PA	5.0	2.0	1856	$2,300	$1.24	3d	1	0.60mi
218 Mary St Homestead, PA	3.0	1.0	1776	$1,400	$0.79	23d	1	0.66mi
308 Lea St Homestead, PA	4.0	2.0	1480	$1,490	$1.01	5d	1	0.75mi
1254 Edgewood Dr Homestead, PA	3.0	1.0	1144	$1,725	$1.51	45d	1	0.83mi
7009 Church St Pittsburgh, PA	3.0	2.0	1800	$1,550	$0.86	45d	1	1.27mi

Listing history 26 events

1. 2026-06-21
   days on market $265,000 Active 89 DOM
2. 2026-06-18
   days on market $265,000 Active 86 DOM
3. 2026-06-17
   days on market $265,000 Active 85 DOM
4. 2026-06-16
   days on market $265,000 Active 84 DOM
5. 2026-06-15
   days on market $265,000 Active 83 DOM
6. 2026-06-13
   days on market $265,000 Active 81 DOM
7. 2026-06-09
   days on market $265,000 Active 77 DOM
8. 2026-06-08
   days on market $265,000 Active 76 DOM
9. 2026-06-07
   days on market $265,000 Active 75 DOM
10. 2026-06-05
    days on market $265,000 Active 72 DOM
11. 2026-06-03
    days on market $265,000 Active 71 DOM
12. 2026-06-02
    days on market $265,000 Active 70 DOM
13. 2026-06-01
    days on market $265,000 Active 69 DOM
14. 2026-05-31
    days on market $265,000 Active 68 DOM
15. 2026-05-06
    price $265,000 424-char remark

    Show marketing remark (424 chars)

    If you are looking for a 4 unit to start your investment journey or to grow your portfolio, you have found the right one! This 4 unit is all 2 bedroom 1 bathroom units. 3 of the units are currently leased and 4th unit is being renovated now and will be leased as soon as complete. Rents can be raised on all 3 currently leased units with some updates. Sewage lines here are being updated as well as plumbing in the property.

16. 2026-03-24
    listed $275,000 Active 424-char remark

    Show marketing remark (424 chars)

    If you are looking for a 4 unit to start your investment journey or to grow your portfolio, you have found the right one! This 4 unit is all 2 bedroom 1 bathroom units. 3 of the units are currently leased and 4th unit is being renovated now and will be leased as soon as complete. Rents can be raised on all 3 currently leased units with some updates. Sewage lines here are being updated as well as plumbing in the property.

17. 2024-09-19
    historical $850
18. 2024-09-04
    listed $850
19. 2024-07-26
    soldstatus $215,000 Closed 44-char remark

    Show marketing remark (44 chars)

    Great investment property! Currently rented.

20. 2024-06-01
    status Pending 44-char remark

    Show marketing remark (44 chars)

    Great investment property! Currently rented.

21. 2024-03-29
    price $249,900 44-char remark

    Show marketing remark (44 chars)

    Great investment property! Currently rented.

22. 2023-11-30
    listed $300,000 Active 44-char remark

    Show marketing remark (44 chars)

    Great investment property! Currently rented.

23. 2022-07-27
    price $320,000
24. 2022-07-27
    price $160,000
25. 2022-07-26
    listed $80,000 Active
26. 2019-09-10
    soldstatus $241,500

ⓘ 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: $2,268 · $189/mo
• Projected year-2 tax: $3,227 · $269/mo
• Expected delta: +$960/yr (+$80/mo · 42.3%)

ⓘ 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 ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,776
• − Mortgage interest: −$14,844
• − Property taxes: −$2,268
• − Insurance: −$1,325
• − Repairs & maintenance: −$4,222
• − Management: −$4,222
• − Depreciation: −$7,709
• Taxable income: $18,186
• Est. tax owed @ 24.0%: −$4,365
• After-tax cash flow: $17,059/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: Steel Valley SD
• NCES district ID: 4222790
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $39,505
• Composite: 30.94/100
• National rank: #6111
• State rank: #403 of 539 in PA

Livability — Homestead

• Score: 77/100
• State rank: #366
• US rank: #3204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homestead, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 18,029
• Household income: $55,714
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 669.0

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 (74%)
• Race & ethnicity: White 74% Black 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 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: ▼ -59.52%
• Current HPI: 292.5607
• Rent YoY: ▲ 4.06%
• 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

+9.7% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $265,000 West Penn MLS
• 2026-03-24 Listed $275,000 West Penn MLS
• 2024-09-19 Rental Removed $850 APPFOLIO
• 2024-09-04 Listed for Rent $850 APPFOLIO
• 2024-07-26 Sold (MLS) $215,000 West Penn MLS
• 2024-06-01 Pending — West Penn MLS
• 2024-03-29 Price Changed $249,900 West Penn MLS
• 2023-11-30 Listed $300,000 West Penn MLS
• 2022-07-27 Price Changed $320,000 West Penn MLS
• 2022-07-27 Price Changed $160,000 West Penn MLS
• 2022-07-26 Listed $80,000 West Penn MLS
• 2019-09-10 Sold (Public Records) $241,500 Public Records

Property tax history

+2.8%/yr

Latest (2026): $2,268 · +3.2% YoY. Source: county tax records.