219 W 9th Ave

West Homestead, PA 15120

$50,000B+

3 bd · 1.0 ba · 1,280 sqft · Built 1896 · Condo · Active · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,455/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $802/mo
• Annual: $9,618/yr
• Cap rate: 25.53%
• Cash-on-cash: 68.70%
• DSCR: 4.06
• 1% rule: 2.91%
• Cash to close: $14,000

Investor read

• This is a 3-bed/1.0-bath condo listed at $50k.
• At list price, monthly cash flow is $802 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 184 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#353 in PA, #3,104 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F, amenities 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.
• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.1%/yr); 93 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• Current owner paid $8k; list at $50k implies a 492% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• This rent runs 31% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 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?
• 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?
• 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.