2859 Broadway Ave

Dormont, PA 15216

$334,900D+

4 bd · 2.0 ba · 2,361 sqft · Built 1920 · MultiFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,873/mo
• Mortgage (P&I): −$1,756
• Tax + insurance: −$514
• HOA: −$0
• Vac / Maint / Mgmt: −$603
• Net cashflow: $-1/mo
• Annual: $-6/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• 1% rule: 0.86%
• Cash to close: $93,772

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $335k.
• At list price, monthly cash flow is $-1 ($-6/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (14.2% below list).
• It's been on market 42 days — a 3% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $287k (14.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 95/100 on livability (#1 in PA, #1 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Keystone Oaks SD (suburban): math 45% / reading 65% proficiency, ranked #116 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Keystone Oaks Ms (math 30% / reading 58%, grade D, #202 of 512 statewide, top 40%, 382 students, 49% FRL); Keystone Oaks Hs (math 67% / reading 24%, grade D-, #183 of 437 statewide, top 43%, 570 students, 35% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.6%/yr); 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 8 sale attempts since 13y 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 $118k; list at $335k implies a 184% gain — meaningful room to come down on a strong offer.
• Cap rate 6.3% vs local median 3.7% in Dormont — 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.
• This rent runs 43% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.