2302 Middle Rd

Allison Park, PA 15116

$195,000B+

3 bd · 1.5 ba · 1,953 sqft · Built 1969 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,800/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$457
• HOA: −$0
• Vac / Maint / Mgmt: −$588
• Net cashflow: $732/mo
• Annual: $8,789/yr
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• 1% rule: 1.44%
• Cash to close: $54,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $195k.
• At list price, monthly cash flow is $732 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#509 in PA, #4,653 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Fox Chapel Area SD (suburban): math 73% / reading 85% proficiency, ranked #7 of 539 in PA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Dorseyville Ms (math 59% / reading 82%, grade A, #11 of 512 statewide, top 2%, 967 students, 24% FRL); Fox Chapel Area Hs (math 87%, 1,283 students, 25% FRL).
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $55k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.8% vs local median 2.9% in Allison Park — 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.

Questions for listing agent

• Built in 1969 — 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 A-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?
• 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.