220 Mercer St · Butler, PA 16001

$130,000

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 80 Days on market

Built 1940 5,662 sqft lot Est $156k · 17% under

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

being sold as is condition, true duplex , being sold as a two bedroom and a four bedroom rental at present , tenants pay $450 per month for a bedroom and a open area, five long term tenants , that would like to stay , two separate entrances , could be turned back to duplex, one newer furnace , one around 12 years old, seller pay utilities, one car detached garage, gas and electric are separate between the first floor and the second floor, two furnaces, two panel baxes.

Key facts

• One newer furnace
• True duplex
• 5,662 sq ft lot

Tags

• TRUE DUPLEX
• TWO SEPARATE ENTRANCES
• ONE NEWER FURNACE

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×4bd/1ba units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $767 ($9k/yr) — positive. Per door: $383/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 3.8% in Butler — 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 71/100 on livability (#705 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D-, amenities F, commute F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 $78k; list at $130k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.62% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.27%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

• ARV (median comp): $155,844
• List price: $130,000
• Delta: -16.58%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.07×
• Total profit: $38,949
• Equity at exit: $19,383

10-year hold

• IRR: 35.2%
• Equity multiple: 5.06×
• Total profit: $147,698
• Equity at exit: $11,240

Cash invested: $36,400 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,111 high
• Mortgage (P&I): −$682
• Tax from tax record: −$165 /mo · $1,982/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $767

Break-even live

Break-even rent $1,141

Max offer price $130,000

Occupancy floor 59%

Sensitivity live

Price	-10% $840	-5% $803	+0% $767	+5% $730	+10% $693
Rent	-10% $600	-5% $683	+0% $767	+5% $850	+10% $933
Rate	-1.0pp $832	-0.5pp $800	base $767	+0.5pp $733	+1.0pp $699

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$918
1× unit	4	1	$1,193
Total (2 units)			$2,111

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 E Walnut St Butler, PA	3.0	1.5	1297	$1,050	$0.81	24d	1	0.73mi
415 Brown Ave Butler, PA	3.0	2.5	1640	$1,500	$0.91	13d	1	1.30mi

Listing history 16 events

1. 2026-06-18
   days on market $130,000 Active 80 DOM
2. 2026-06-17
   days on market $130,000 Active 79 DOM
3. 2026-06-16
   days on market $130,000 Active 78 DOM
4. 2026-06-15
   days on market $130,000 Active 77 DOM
5. 2026-06-13
   days on market $130,000 Active 75 DOM
6. 2026-06-13
   days on market $130,000 Active 74 DOM
7. 2026-06-09
   days on market $130,000 Active 71 DOM
8. 2026-06-08
   days on market $130,000 Active 70 DOM
9. 2026-06-07
   days on market $130,000 Active 69 DOM
10. 2026-06-03
    days on market $130,000 Active 65 DOM
11. 2026-06-02
    days on market $130,000 Active 64 DOM
12. 2026-06-01
    days on market $130,000 Active 63 DOM
13. 2026-05-31
    days on market $130,000 Active 62 DOM
14. 2026-03-30
    listed $130,000 Active 473-char remark

    Show marketing remark (473 chars)

    being sold as is condition, true duplex , being sold as a two bedroom and a four bedroom rental at present , tenants pay $450 per month for a bedroom and a open area, five long term tenants , that would like to stay , two separate entrances , could be turned back to duplex, one newer furnace , one around 12 years old, seller pay utilities, one car detached garage, gas and electric are separate between the first floor and the second floor, two furnaces, two panel baxes.

15. 2004-02-09
    soldstatus $78,000 148-char remark

    Show marketing remark (148 chars)

    HUD approved, separate utilities, roof1996 painted interior 2002,Kristin724-968-2119: Denise724-968-0103$475;$500Mo rents $1000 toward closing costs

16. 2003-09-11
    listed $77,900 148-char remark

    Show marketing remark (148 chars)

    HUD approved, separate utilities, roof1996 painted interior 2002,Kristin724-968-2119: Denise724-968-0103$475;$500Mo rents $1000 toward closing costs

ⓘ 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: $1,982 · $165/mo
• Projected year-2 tax: $2,018 · $168/mo
• Expected delta: +$36/yr (+$3/mo · 1.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,332
• − Mortgage interest: −$7,282
• − Property taxes: −$1,982
• − Insurance: −$650
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − Depreciation: −$3,782
• Taxable income: $7,583
• Est. tax owed @ 24.0%: −$1,820
• After-tax cash flow: $7,379/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: Butler Area SD
• NCES district ID: 4204590
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $49,348
• Composite: 42.65/100
• National rank: #3180
• State rank: #181 of 539 in PA

Livability — Butler

• Score: 71/100
• State rank: #705
• US rank: #6951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler, PA
• County: Butler County · 73,107 people
• City population: 39,234
• Metro: Pittsburgh, PA
• Population (ZIP): 39,234
• Household income: $63,635
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1441.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 190,777 people
• By 2030: 191,476 · +0.4%
• By 2040: 189,474 · -0.7%
• By 2050: 182,050 · -4.6%
• By 2075: 159,526 · -16.4%
• By 2100: 129,028 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+32.2) · D 33.5% · R 65.7%
• 2008→2024 swing: -4.8pp toward R · 2008: -27.4pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+32.5 2016: R+37.5 2012: R+34.9 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.40%
• Current HPI: 222.4445
• Rent YoY: ▲ 20.36%
• 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

+66.9% since first listed

3 events — show timeline

• 2026-03-30 Listed $130,000 West Penn MLS
• 2004-02-09 Sold (MLS) $78,000 West Penn MLS
• 2003-09-11 Listed $77,900 West Penn MLS

Property tax history

+0.8%/yr

Latest (2026): $1,982 · -6.3% YoY. Source: county tax records.