248 E Fulton St · Butler, PA 16001

$69,900

3 bd · 1.0 ba · 1,568 sqft · SingleFamily public records · 115 Days on market

Built 1900 2,613 sqft lot $45/sqft · 47% below area Est $131k · 47% 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

Listing remarks MLS

Timeless character meets incredible opportunity in this spacious all-brick three-story Colonial. A covered front porch sets the stage for the classic charm found throughout the home. With expansive living space spanning three levels, this property is waiting for the right buyer to restore and reimagine its historic beauty. Ideally situated within walking distance to downtown Butler and close to the hospital, the location adds even more appeal. A true diamond in the rough ready to shine again.

Key facts

• Covered front porch
• Historic beauty
• 2,613 sq ft lot

Tags

• COVERED FRONT PORCH
• WALKING DISTANCE TO DOWNTOWN
• CLOSE TO THE HOSPITAL
• HISTORIC BEAUTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.62% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.64%
• DSCR: 2.01
• GRM: 5.1

CMA / ARV

• ARV (median comp): $131,285
• List price: $69,900
• Delta: -46.76%
• 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
231 N Monroe St	0.22mi	4/2.0 (+1)	1,560 (-0%)	3mo	$168,000	$108	78
330 N Elm St	0.11mi	3/1.0	1,434 (-8%)	8mo	$114,000	$79	74
309 Eau Claire St	0.41mi	3/1.5	1,520 (-3%)	6mo	$135,000	$89	69
551 N Monroe St	0.15mi	3/2.0	1,680 (+7%)	12mo	$154,000	$92	67
440 E Pearl St	0.13mi	4/1.5 (+1)	1,746 (+11%)	4mo	$141,250	$81	65
401 New Castle St	0.65mi	3/2.0	1,548 (-1%)	1mo	$119,900	$77	62
208 E Penn St	0.19mi	2/1.0 (-1)	1,396 (-11%)	12mo	$85,000	$61	58
218 W Diamond St	0.71mi	3/2.0	1,638 (+4%)	1mo	$119,900	$73	54
230 W Fulton St	0.40mi	3/1.5	1,800 (+15%)	3mo	$185,000	$103	52
560 4th St	0.36mi	3/2.0	1,780 (+14%)	7mo	$200,000	$112	50
1248 E Brady	0.75mi	3/2.5	1,680 (+7%)	6mo	$195,000	$116	42
110 Broad St	0.72mi	4/1.5 (+1)	1,478 (-6%)	11mo	$125,000	$85	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 1.93×
• Total profit: $18,219
• Equity at exit: $10,422

10-year hold

• IRR: 32.8%
• Equity multiple: 4.76×
• Total profit: $73,549
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,132 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$129 /mo · $1,549/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $369

Break-even live

Break-even rent $664

Max offer price $69,900

Occupancy floor 62%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.21mi
530 N Main St Butler, PA	2.0	2.0	1052	$1,088	$1.03	2d	2	0.27mi
415 Brown Ave Butler, PA	3.0	2.5	1640	$1,500	$0.91	12d	1	1.05mi

Listing history 16 events

1. 2026-06-18
   days on market $69,900 Active 115 DOM
2. 2026-06-17
   days on market $69,900 Active 114 DOM
3. 2026-06-16
   days on market $69,900 Active 113 DOM
4. 2026-06-15
   days on market $69,900 Active 112 DOM
5. 2026-06-13
   days on market $69,900 Active 110 DOM
6. 2026-06-13
   days on market $69,900 Active 109 DOM
7. 2026-06-10
   price $69,900 Active 106 DOM
8. 2026-06-09
   days on market $87,500 Active 106 DOM
9. 2026-06-08
   days on market $87,500 Active 105 DOM
10. 2026-06-07
    days on market $87,500 Active 104 DOM
11. 2026-06-03
    days on market $87,500 Active 100 DOM
12. 2026-06-02
    days on market $87,500 Active 99 DOM
13. 2026-06-01
    days on market $87,500 Active 98 DOM
14. 2026-05-31
    days on market $87,500 Active 97 DOM
15. 2026-02-23
    listed $87,500 Active 497-char remark

    Show marketing remark (497 chars)

    Timeless character meets incredible opportunity in this spacious all-brick three-story Colonial. A covered front porch sets the stage for the classic charm found throughout the home. With expansive living space spanning three levels, this property is waiting for the right buyer to restore and reimagine its historic beauty. Ideally situated within walking distance to downtown Butler and close to the hospital, the location adds even more appeal. A true diamond in the rough ready to shine again.

16. 2020-02-07
    soldstatus $59,500

ⓘ 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: $1,549 · $129/mo
• Projected year-2 tax: $1,549 · $129/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 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,581
• − Mortgage interest: −$3,915
• − Property taxes: −$1,549
• − Insurance: −$350
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$2,033
• Taxable income: $3,561
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $3,577/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

+47.1% since first listed

2 events — show timeline

• 2026-02-23 Listed $87,500 West Penn MLS
• 2020-02-07 Sold (Public Records) $59,500 Public Records

Property tax history

+0.8%/yr

Latest (2026): $1,549 · -6.3% YoY. Source: county tax records.