1040 N Grant Ave · Kittanning, PA 16201

$68,000

3 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 139 Days on market

Built 1904 3,310 sqft lot $52/sqft · 25% below area Est $91k · 25% 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
• Appreciation +10.0/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming and well-located, this 3-bedroom, 1.5-bath home at 1040 N. Grant Avenue sits in Kittanning Borough within the Armstrong School District and offers even more potential with space for two additional bedrooms in the attic. Enjoy a cute front porch perfect for relaxing, plenty of space in the flat backyard for entertaining. The home is ideally situated near the YMCA, walking trails, restaurants, and shopping, making everyday living easy and enjoyable. A great opportunity for those looking for space, location, and future expansion potential.

Key facts

• Flat backyard
• Front porch
• 3,310 sq ft lot

Tags

• FLAT BACKYARD
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#736 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Armstrong SD (rural): math 38% / reading 58% proficiency, ranked #233 of 539 in PA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 58 units permitted in Armstrong County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($470 loan paydown + $7k appreciation (10.0% local appreciation)).
• Armstrong County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $12k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.70% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.03%
• DSCR: 2.02
• GRM: 4.9

CMA / ARV

• ARV (median comp): $90,909
• List price: $68,000
• Delta: -25.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
941 Johnston Ave	0.15mi	3/2.0	1,280 (-3%)	2mo	$100,000	$78	83
935 Orr Ave	0.09mi	3/1.0	1,408 (+7%)	8mo	$96,000	$68	78
1004 N Grant Ave	0.03mi	2/1.0 (-1)	1,214 (-8%)	10mo	$78,000	$64	72
1402 N Grant Ave	0.50mi	3/1.0	1,260 (-4%)	2mo	$92,000	$73	67
715 Woodward Ave	0.24mi	3/1.5	1,423 (+8%)	14mo	$165,000	$116	62
1346 Johnston Ave	0.43mi	2/1.0 (-1)	1,296 (-2%)	16mo	$8,000	$6	59
543 Highland Ave	0.18mi	2/1.5 (-1)	1,174 (-11%)	11mo	$22,900	$20	57
1409 Orr Ave	0.51mi	2/1.0 (-1)	1,246 (-6%)	8mo	$100,000	$80	56
1422 N Grant Ave	0.54mi	3/2.0	1,305 (-1%)	18mo	$95,000	$73	54
540 N Water St	0.51mi	2/1.0 (-1)	1,266 (-4%)	15mo	$91,500	$72	52
122 Lower Troy Hill Rd	0.62mi	2/1.5 (-1)	1,194 (-10%)	1mo	$145,000	$121	48
1502 N Grant St	0.57mi	3/1.0	1,149 (-13%)	13mo	$117,000	$102	41

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.6%
• Equity multiple: 4.17×
• Total profit: $60,373
• Equity at exit: $61,260

10-year hold

• IRR: 35.9%
• Equity multiple: 9.38×
• Total profit: $159,613
• Equity at exit: $132,109

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 16201

• Home prices YoY: 10.0%
• Active inventory: 31
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,154 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $365

Break-even live

Break-even rent $691

Max offer price $68,000

Occupancy floor 63%

Sensitivity live

Price	-10% $404	-5% $385	+0% $365	+5% $346	+10% $327
Rent	-10% $274	-5% $320	+0% $365	+5% $411	+10% $457
Rate	-1.0pp $400	-0.5pp $383	base $365	+0.5pp $348	+1.0pp $330

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: —

Listing history 10 events

1. 2026-03-23
   price $68,000 551-char remark

   Show marketing remark (551 chars)

   Charming and well-located, this 3-bedroom, 1.5-bath home at 1040 N. Grant Avenue sits in Kittanning Borough within the Armstrong School District and offers even more potential with space for two additional bedrooms in the attic. Enjoy a cute front porch perfect for relaxing, plenty of space in the flat backyard for entertaining. The home is ideally situated near the YMCA, walking trails, restaurants, and shopping, making everyday living easy and enjoyable. A great opportunity for those looking for space, location, and future expansion potential.

2. 2026-02-05
   price $70,000 551-char remark

   Show marketing remark (551 chars)

   Charming and well-located, this 3-bedroom, 1.5-bath home at 1040 N. Grant Avenue sits in Kittanning Borough within the Armstrong School District and offers even more potential with space for two additional bedrooms in the attic. Enjoy a cute front porch perfect for relaxing, plenty of space in the flat backyard for entertaining. The home is ideally situated near the YMCA, walking trails, restaurants, and shopping, making everyday living easy and enjoyable. A great opportunity for those looking for space, location, and future expansion potential.

3. 2026-01-19
   price $75,000 551-char remark

   Show marketing remark (551 chars)

   Charming and well-located, this 3-bedroom, 1.5-bath home at 1040 N. Grant Avenue sits in Kittanning Borough within the Armstrong School District and offers even more potential with space for two additional bedrooms in the attic. Enjoy a cute front porch perfect for relaxing, plenty of space in the flat backyard for entertaining. The home is ideally situated near the YMCA, walking trails, restaurants, and shopping, making everyday living easy and enjoyable. A great opportunity for those looking for space, location, and future expansion potential.

4. 2026-01-05
   listed $80,000 Active 551-char remark

   Show marketing remark (551 chars)

   Charming and well-located, this 3-bedroom, 1.5-bath home at 1040 N. Grant Avenue sits in Kittanning Borough within the Armstrong School District and offers even more potential with space for two additional bedrooms in the attic. Enjoy a cute front porch perfect for relaxing, plenty of space in the flat backyard for entertaining. The home is ideally situated near the YMCA, walking trails, restaurants, and shopping, making everyday living easy and enjoyable. A great opportunity for those looking for space, location, and future expansion potential.

5. 2021-06-01
   soldstatus $68,450
6. 2021-05-28
   status Pending 147-char remark

   Show marketing remark (147 chars)

   Move in ready home! 3 bedrooms on second floor and room for two more in the finished attic area. Great location near the YMCA and Rails to trails!

7. 2021-05-28
   soldstatus $68,450 Closed 147-char remark

   Show marketing remark (147 chars)

   Move in ready home! 3 bedrooms on second floor and room for two more in the finished attic area. Great location near the YMCA and Rails to trails!

8. 2021-05-02
   historical Contingent 147-char remark

   Show marketing remark (147 chars)

   Move in ready home! 3 bedrooms on second floor and room for two more in the finished attic area. Great location near the YMCA and Rails to trails!

9. 2021-04-28
   listed $69,900 Active 147-char remark

   Show marketing remark (147 chars)

   Move in ready home! 3 bedrooms on second floor and room for two more in the finished attic area. Great location near the YMCA and Rails to trails!

10. 1993-08-19
    soldstatus $35,000

ⓘ 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: $1,931 · $161/mo
• Projected year-2 tax: $1,931 · $161/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,842
• − Mortgage interest: −$3,809
• − Property taxes: −$1,931
• − Insurance: −$340
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$1,978
• Taxable income: $3,569
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $3,529/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: Armstrong SD
• NCES district ID: 4202590
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 58% ▼ -6.00%
• Median HH income: $43,333
• Composite: 40.41/100
• National rank: #3729
• State rank: #233 of 539 in PA

Livability — Kittanning

• Score: 70/100
• State rank: #736
• US rank: #7354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kittanning, PA
• Population (ZIP): 16,734

Population outlook (Armstrong County) Hauer SSP2

• Today (2025): 62,513 people
• By 2030: 59,579 · -4.7%
• By 2040: 52,890 · -15.4%
• By 2050: 45,904 · -26.6%
• By 2075: 32,023 · -48.8%
• By 2100: 20,415 · -67.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Slovak 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Armstrong

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.2%
• 2008→2024 swing: -28.6pp toward R · 2008: -24.6pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+52.3 2016: R+52.0 2012: R+37.2 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.52%
• Current HPI: 270.2649
• Rent YoY: —
• Metro: —
• 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

+94.3% since first listed

10 events — show timeline

• 2026-03-23 Price Changed $68,000 West Penn MLS
• 2026-02-05 Price Changed $70,000 West Penn MLS
• 2026-01-19 Price Changed $75,000 West Penn MLS
• 2026-01-05 Listed $80,000 West Penn MLS
• 2021-06-01 Sold (Public Records) $68,450 Public Records
• 2021-05-28 Pending — West Penn MLS
• 2021-05-28 Sold (MLS) $68,450 West Penn MLS
• 2021-05-02 Contingent — West Penn MLS
• 2021-04-28 Listed $69,900 West Penn MLS
• 1993-08-19 Sold (Public Records) $35,000 Public Records

Property tax history

+0.7%/yr

Latest (2026): $1,931 · +0.0% YoY. Source: county tax records.