146 Wilker Ave

Aliquippa, PA 15001

$43,900C+

3 bd · 1.0 ba · 1,080 sqft · Built 1925 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,326/mo
• Mortgage (P&I): −$230
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $752/mo
• Annual: $9,025/yr
• Cap rate: 26.85%
• Cash-on-cash: 73.42%
• DSCR: 4.27
• 1% rule: 3.02%
• Cash to close: $12,292

Investor read

• This is a 3-bed/1.0-bath single-family listed at $44k.
• At list price, monthly cash flow is $752 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• It's been on market 84 days — a 6% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $304 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#216 in PA, #1,891 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, employment F.
• Aliquippa SD (suburban): math 4% / reading 19% proficiency, ranked #530 of 539 in PA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Aliquippa El Sch (math 2% / reading 15%, grade F, #1,458 of 1,518 statewide, top 96%, 474 students, 86% FRL); Aliquippa Jshs (math 8% / reading 22%, grade F, #407 of 437 statewide, top 94%, 474 students, 88% FRL).
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.0%/yr); 127 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 272 units permitted in Beaver County in 2024 (80 in 5+ unit buildings).
• Beaver County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $9k; list at $44k implies a 399% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 26.9% vs local median 4.3% in Aliquippa — 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

• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.