904 Hansen St · Millvale, PA 15209

$125,000

3 bd · 1.0 ba · 1,360 sqft · Condo public records · 7 Days on market

Built 1880

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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 +4.2/5.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Solid 3-bedroom, 1-bath home in the heart of Millvale — a great opportunity for a first-time buyer or investor looking to get into the Pittsburgh market without the Pittsburgh price tag. The main level features a living room, separate dining room, and a galley kitchen that opens directly to a fenced backyard — great for pets, gardening, or just enjoying some outdoor space. Upstairs you'll find three bedrooms and a full bath, offering functional space for everyday living. The home could use some TLC but has good bones and plenty of potential for the right buyer. Conveniently located with quick access to downtown Pittsburgh, Route 28, and everything Millvale has to offer. Whether

Key facts

• Galley kitchen
• Fenced backyard
• 2,304 sq ft lot

Tags

• FENCED BACKYARD
• GALLEY KITCHEN
• QUICK ACCESS TO DOWNTOWN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story frame construction; Asphalt roof; Resale property
• Construction: Frame construction; Asphalt roof
• Exterior features: Small lot (approximately 0.0529 acres)

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating; Wall/window cooling units
• Interior features: Carpet and laminate flooring; Basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).

Location & tenants

• Location reads 85/100 on livability (#75 in PA, #544 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-.
• Shaler Area SD (suburban): math 36% / reading 59% proficiency, ranked #208 of 539 in PA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.3%/yr); 27 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.56% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.69%
• DSCR: 2.05
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.31% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-640
• Equity at exit: $18,638

10-year hold

• IRR: 12.4%
• Equity multiple: 2.13×
• Total profit: $39,494
• Equity at exit: $10,808

Cash invested: $35,000 (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 15209

• Home prices YoY: -27.7%
• Rents YoY: 5.3%
• Active inventory: 27
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$656
• Tax from tax record: −$139 /mo · $1,672/yr
• Insurance: −$52
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $231

Break-even live

Break-even rent $1,655

Max offer price $125,000

Occupancy floor 83%

Sensitivity live

Price	-10% $301	-5% $266	+0% $231	+5% $195	+10% $160
Rent	-10% $77	-5% $154	+0% $231	+5% $307	+10% $384
Rate	-1.0pp $294	-0.5pp $262	base $231	+0.5pp $198	+1.0pp $165

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Hugel Dr Unit 1 Pittsburgh, PA	2.0	1.0	1200	$1,450	$1.21	24d	1	0.25mi
404 Reetz St Pittsburgh, PA	4.0	1.0	1500	$2,050	$1.37	17d	1	0.77mi
5275 Butler St Pittsburgh, PA	2.0	1.0–2.0	885	$4,076	$4.61	2d	130	1.10mi
5264 Dresden Way Pittsburgh, PA	2.0	2.0	1853	$2,500	$1.35	24d	1	1.15mi
4107 Willow St Pittsburgh, PA	2.0	1.0–2.0	917	$3,334	$3.63	2d	28	1.23mi
160 56th St Pittsburgh, PA	3.0	3.0	1737	$3,900	$2.25	20d	1	1.28mi
17 Cambria Pt Pittsburgh, PA	3.0	4.0	1692	$1,995	$1.18	44d	1	1.35mi
147 39th St Pittsburgh, PA	3.0	1.0–2.0	934	$3,463	$3.71	2d	44	1.39mi
265 46th St Pittsburgh, PA	1.0–3.0	1.0–1.5	883	$2,745	$3.11	5d	10	1.43mi
39 Prospect St Pittsburgh, PA	2.0	1.0	1056	$1,200	$1.14	8d	1	1.44mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   statusdays on market $125,000 Pending 7 DOM
2. 2026-06-18
   days on market $125,000 Active 6 DOM
3. 2026-06-17
   days on market $125,000 Active 5 DOM
4. 2026-06-16
   days on market $125,000 Active 4 DOM
5. 2026-06-15
   days on market $125,000 Active 3 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $125,000 Active 1 DOM

ⓘ 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: $1,672 · $139/mo
• Projected year-2 tax: $1,823 · $152/mo
• Expected delta: +$152/yr (+$13/mo · 9.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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: $23,361
• − Mortgage interest: −$7,002
• − Property taxes: −$1,672
• − Insurance: −$6,150
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$3,636
• Taxable income: $1,163
• Est. tax owed @ 24.0%: −$279
• After-tax cash flow: $2,488/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: Shaler Area SD
• NCES district ID: 4221200
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 59% ▼ -15.00%
• Median HH income: $57,411
• Composite: 41.33/100
• National rank: #3506
• State rank: #208 of 539 in PA

Livability — Millvale

• Score: 85/100
• State rank: #75
• US rank: #544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millvale, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 12,328
• Household income: $85,542
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 356.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 3% Black 3% Two or more races 2% Asian 1%
• Common ancestry: Romanian 13% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▼ -117.81%
• Current HPI: 307.7796
• Rent YoY: ▲ 5.31%
• 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

1 event — show timeline

• 2026-06-10 Listed $125,000 West Penn MLS

Property tax history

+2.9%/yr

Latest (2026): $1,672 · +13.0% YoY. Source: county tax records.