912 Waddell Ave

Clairton, PA 15025

$105,000D+

2 bd · 1.0 ba · 1,056 sqft · Built 1917 · SingleFamily · Active · 138 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,134/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $170/mo
• Annual: $2,040/yr
• Cap rate: 8.24%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 138 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#1,308 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, health & safety D+, schools F.
• Clairton City SD (suburban): math 7% / reading 21% proficiency, ranked #520 of 539 in PA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.5%/yr); 94 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 6 sale attempts since 18y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $105k implies a 144% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 8.2% vs local median 12.7% in Clairton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent is only 18% of the median local income ($77k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1917 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.