1023 22nd Ave · Altoona, PA 16601

$68,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily · 30 Days on market

Built 1920 1,306 sqft lot Est $129k · 47% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CLASSIC turn of century 2.5 story Brick convenient to Penn State Altoona Campus and UPMC Altoona Hospital. Currently provides income from long term tenant that would like to stay. 2 bed, 1 full bath with tub/shower. Room for 3rd bedroom and bath or multipurpose room in floored semi finished attic. Good gas furnace, updated electric service, newer HW heater and many thermopane windows. Large front porch plus a cozy back porch off of kitchen, that overlooks courtyard size lawn provides plentiful outside space without extensive lawn care! Nice Residential area convenient to Altoona UPMC Hospital, Penn State Altoona Campus and Norfolk Southern shops as well as shopping and public transportation.

Key facts

• Vinyl flooring
• New carpeting
• New appliances

Tags

• NEW ROOF
• NEW CARPETING
• NEW APPLIANCES
• NEW KITCHEN SUBFLOOR
• VINYL FLOORING
• FRESH INTERIOR PAINT

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; Two levels; Residential zoning; Located in the Fairview subdivision
• Construction: Brick construction; Shingle roof; Built with foundation (basement present)
• Exterior features: Deck; Porch; Level lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and other living spaces)
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Insulated windows; Basement

🏷️ Possibly a rental listed for sale. The $68,000 price doesn't fit this home's estimated sale value (~$128,520) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.8% in Altoona — 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.

Location & tenants

• Location reads 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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 $43k; list at $68k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,980 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 10.79%
• Cash-on-cash: 16.05%
• DSCR: 1.71
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $128,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2109 9th St	0.10mi	3/1.0 (+1)	1,200 (-5%)	5mo	$122,500	$102	78
908 26th Ave	0.27mi	3/1.0 (+1)	1,194 (-5%)	3mo	$162,000	$136	71
2514 3rd St	0.48mi	2/1.0	1,326 (+5%)	4mo	$154,500	$117	66
229 21st Ave	0.43mi	3/1.0 (+1)	1,328 (+5%)	1mo	$36,500	$27	65
323 Wopsononock Ave	0.39mi	3/1.5 (+1)	1,176 (-7%)	2mo	$190,000	$162	62
2501 15th St	0.42mi	3/1.5 (+1)	1,370 (+9%)	0mo	$122,500	$89	58
511 26th Ave	0.28mi	3/2.0 (+1)	1,438 (+14%)	5mo	$163,000	$113	50
1406 Washington Ave	0.59mi	3/1.0 (+1)	1,136 (-10%)	2mo	$28,500	$25	50
311 26th Ave	0.44mi	3/1.0 (+1)	1,414 (+12%)	6mo	$147,000	$104	49
2715 16th St	0.58mi	3/1.5 (+1)	1,365 (+8%)	7mo	$135,000	$99	46
207 Spruce Ave	0.56mi	2/1.5	1,108 (-12%)	7mo	$78,000	$70	46
1614 20th Ave	0.48mi	3/2.0 (+1)	1,444 (+15%)	0mo	$115,000	$80	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 7.0%
• Equity multiple: 1.27×
• Total profit: $5,228
• Equity at exit: $10,139

10-year hold

• IRR: 16.4%
• Equity multiple: 2.34×
• Total profit: $25,552
• Equity at exit: $5,879

Cash invested: $19,040 (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 16601

• Home prices YoY: -24.9%
• Active inventory: 186
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $947 high
• Mortgage (P&I): −$357
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $255

Break-even live

Break-even rent $624

Max offer price $68,000

Occupancy floor 68%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 17th Ave Altoona, PA	3.0	1.0	1430	$899	$0.63	44d	1	0.25mi
1326 14th Ave Altoona, PA	3.0	1.0	1600	$1,150	$0.72	44d	1	0.47mi
1489 Washington Ave Altoona, PA	3.0	1.5	1050	$850	$0.81	44d	1	0.56mi
100 College Park Dr Altoona, PA	2.0	2.0	940	$975	$1.04	44d	1	0.65mi
200 College Park Dr Altoona, PA	2.0	2.0	940	$975	$1.04	44d	1	0.66mi
212 College Park Dr Altoona, PA	2.0	2.0	950	$975	$1.03	44d	2	0.68mi
300 College Park Dr Altoona, PA	2.0	2.0	940	$975	$1.04	44d	1	0.68mi
400 College Park Dr Altoona, PA	2.0	2.0	940	$975	$1.04	44d	1	0.70mi
2015 12th Ave Altoona, PA	3.0	1.0	1600	$1,200	$0.75	44d	1	0.87mi
2708 Wehnwood Rd Altoona, PA	1.0–4.0	1.0–1.5	960	$733	$0.76	44d	5	1.25mi
201 2nd Ave Unit 2nd Fl Altoona, PA	3.0	1.0	1244	$790	$0.64	44d	1	1.28mi

Listing history 15 events

1. 2026-04-15
   status Pending
2. 2026-04-10
   price $68,000
3. 2026-03-16
   listed $69,000 Active
4. 2026-02-01
   price $74,500
5. 2026-01-14
   price $77,000
6. 2025-12-29
   price $79,000
7. 2025-11-25
   price $84,500
8. 2025-11-18
   price $92,900
9. 2023-06-28
   soldstatus $43,000 Closed 701-char remark

   Show marketing remark (701 chars)

   CLASSIC turn of century 2.5 story Brick convenient to Penn State Altoona Campus and UPMC Altoona Hospital. Currently provides income from long term tenant that would like to stay. 2 bed, 1 full bath with tub/shower. Room for 3rd bedroom and bath or multipurpose room in floored semi finished attic. Good gas furnace, updated electric service, newer HW heater and many thermopane windows. Large front porch plus a cozy back porch off of kitchen, that overlooks courtyard size lawn provides plentiful outside space without extensive lawn care! Nice Residential area convenient to Altoona UPMC Hospital, Penn State Altoona Campus and Norfolk Southern shops as well as shopping and public transportation.

10. 2023-05-19
    status Pending 701-char remark

    Show marketing remark (701 chars)

    CLASSIC turn of century 2.5 story Brick convenient to Penn State Altoona Campus and UPMC Altoona Hospital. Currently provides income from long term tenant that would like to stay. 2 bed, 1 full bath with tub/shower. Room for 3rd bedroom and bath or multipurpose room in floored semi finished attic. Good gas furnace, updated electric service, newer HW heater and many thermopane windows. Large front porch plus a cozy back porch off of kitchen, that overlooks courtyard size lawn provides plentiful outside space without extensive lawn care! Nice Residential area convenient to Altoona UPMC Hospital, Penn State Altoona Campus and Norfolk Southern shops as well as shopping and public transportation.

11. 2023-05-02
    listed $45,000 Active 701-char remark

    Show marketing remark (701 chars)

    CLASSIC turn of century 2.5 story Brick convenient to Penn State Altoona Campus and UPMC Altoona Hospital. Currently provides income from long term tenant that would like to stay. 2 bed, 1 full bath with tub/shower. Room for 3rd bedroom and bath or multipurpose room in floored semi finished attic. Good gas furnace, updated electric service, newer HW heater and many thermopane windows. Large front porch plus a cozy back porch off of kitchen, that overlooks courtyard size lawn provides plentiful outside space without extensive lawn care! Nice Residential area convenient to Altoona UPMC Hospital, Penn State Altoona Campus and Norfolk Southern shops as well as shopping and public transportation.

12. 2003-03-10
    soldstatus $9,000
13. 2003-03-10
    soldstatus $9,000
14. 2002-11-13
    listed $11,000
15. 1980-09-01
    soldstatus $10,900

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,299 · $108/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,359
• − Mortgage interest: −$3,809
• − Property taxes: −$1,299
• − Insurance: −$340
• − Repairs & maintenance: −$909
• − Management: −$909
• − Depreciation: −$1,978
• Taxable income: $2,116
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $2,548/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: Altoona Area SD
• NCES district ID: 4202340
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $38,465
• Composite: 30.85/100
• National rank: #6130
• State rank: #406 of 539 in PA

Livability — Altoona

• Score: 79/100
• State rank: #237
• US rank: #2060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, PA
• County: Blair County · 59,867 people
• City population: 59,867
• Metro: Altoona, PA
• Population (ZIP): 33,515
• Household income: $58,070
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 715.0

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.97%
• Current HPI: 183.9907
• Rent YoY: —
• Metro: Altoona, 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

+523.9% since first listed

15 events — show timeline

• 2026-04-15 Pending — AHARMLS
• 2026-04-10 Price Changed $68,000 AHARMLS
• 2026-03-16 Listed $69,000 AHARMLS
• 2026-02-01 Price Changed $74,500 AHARMLS
• 2026-01-14 Price Changed $77,000 AHARMLS
• 2025-12-29 Price Changed $79,000 AHARMLS
• 2025-11-25 Price Changed $84,500 AHARMLS
• 2025-11-18 Price Changed $92,900 AHARMLS
• 2023-06-28 Sold (MLS) $43,000 AHARMLS
• 2023-05-19 Pending — AHARMLS
• 2023-05-02 Listed $45,000 AHARMLS
• 2003-03-10 Sold (Public Records) $9,000 Public Records
• 2003-03-10 Sold (MLS) $9,000 AHARMLS
• 2002-11-13 Listed $11,000 AHARMLS
• 1980-09-01 Sold (Public Records) $10,900 Public Records

Property tax history

-3.0%/yr

Latest (2025): $1,299 · +13.0% YoY. Source: county tax records.