703 Laura St

West Mifflin, PA 15122

$103,000B+

3 bd · 1.0 ba · 1,376 sqft · Built 1940 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,695/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$337
• HOA: −$0
• Vac / Maint / Mgmt: −$356
• Net cashflow: $462/mo
• Annual: $5,540/yr
• Cap rate: 11.67%
• Cash-on-cash: 19.21%
• DSCR: 1.85
• 1% rule: 1.65%
• Cash to close: $28,840

Investor read

• This is a 3-bed/1.0-bath single-family listed at $103k.
• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $103k).
• It's been on market 55 days — a 3% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $712 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#539 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: health & safety D, crime D-, amenities F.
• West Mifflin Area SD (suburban): math 19% / reading 41% proficiency, ranked #443 of 539 in PA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.4% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 58 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• Current owner paid $42k; list at $103k implies a 142% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.7% vs local median 5.2% in West Mifflin — 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 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 D 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.
• 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.