800 Mckinley Ave · Butler, PA 16001

$118,000

1 bd · 1.0 ba · 4,080 sqft · SingleFamily public records · 43 Days on market

Built 1900 4.32 ac lot $29/sqft · 51% below area ↓ 54% since listing

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Why this score? — see what drove the D 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 +12.9/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• 1% rule +4.1/10.0
• DSCR +3.8/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1890s barn has potential to become a wonderful home with some vision and work. Situated on over 4.3 acres with stunning views of downtown and the court house with Butler Memorial Park adjoining the back side of the property. The first floor measures approximately 30 X 53 feet and has the possibility of having close to a 12 foot ceiling. Second floor, the old hay loft, has wood beams and a spiral stairway to a possible 3rd floor loft. The basement level with high ceilings was where horses were originally housed. Newer double pane windows throughout and house has a newer asphalt roof. There is a newer boiler in basement but not currently connected or running. Nice detached oversized double stall garage with openers next to the house.

Key facts

• Former hayloft
• Expansive main level
• 1890s barn

Tags

• 1890S BARN
• OVER 4.3 ACRES
• EXPANSIVE MAIN LEVEL
• SOARING 12-FOOT CEILINGS
• FORMER HAYLOFT
• BEAUTIFUL WOOD BEAMS

Property features AI

Exterior

• Parking: Detached garage; 2 parking spaces (total)
• Utilities: Public water; Public sewer
• Home design: 3-story frame building; Resale property
• Construction: Frame construction; Asphalt roof
• Exterior features: Public water; Public sewer

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $-10 ($-114/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (8.6% below list).
• Recommended offer: $108k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 1 comparable units currently listed for rent nearby; 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 $816 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

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

Recommended offer $107,899 (8.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• GRM: 9.1

CMA / ARV

• ARV (median comp): $242,101
• List price: $118,000
• Delta: -51.26%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-13,979
• Equity at exit: $17,594

10-year hold

• IRR: 4.4%
• Equity multiple: 1.40×
• Total profit: $13,183
• Equity at exit: $10,202

Cash invested: $33,040 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,079 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$194 /mo · $2,327/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-10

Break-even live

Break-even rent $1,091

Max offer price $116,322

Occupancy floor 96%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1139 N Main Street Ext Butler, PA	—	2.0	3500	$2,800	$0.80	12d	1	0.99mi

Listing history 18 events

1. 2026-06-18
   status $118,000 Pending 43 DOM
2. 2026-06-17
   days on market $118,000 Active 43 DOM
3. 2026-06-16
   days on market $118,000 Active 42 DOM
4. 2026-06-15
   days on market $118,000 Active 41 DOM
5. 2026-06-13
   days on market $118,000 Active 39 DOM
6. 2026-06-13
   statusdays on market $118,000 Active 38 DOM
7. 2026-06-09
   days on market $118,000 Contingent 35 DOM
8. 2026-06-08
   days on market $118,000 Contingent 34 DOM
9. 2026-06-07
   days on market $118,000 Contingent 33 DOM
10. 2026-06-03
    days on market $118,000 Contingent 29 DOM
11. 2026-06-02
    days on market $118,000 Contingent 28 DOM
12. 2026-06-01
    days on market $118,000 Contingent 27 DOM
13. 2026-05-31
    days on market $118,000 Contingent 26 DOM
14. 2026-05-15
    historical Contingent 822-char remark
15. 2026-05-05
    listed $118,000 Active 822-char remark
16. 2024-08-28
    price $195,000 746-char remark

    Show marketing remark (746 chars)

    This 1890s barn has potential to become a wonderful home with some vision and work. Situated on over 4.3 acres with stunning views of downtown and the court house with Butler Memorial Park adjoining the back side of the property. The first floor measures approximately 30 X 53 feet and has the possibility of having close to a 12 foot ceiling. Second floor, the old hay loft, has wood beams and a spiral stairway to a possible 3rd floor loft. The basement level with high ceilings was where horses were originally housed. Newer double pane windows throughout and house has a newer asphalt roof. There is a newer boiler in basement but not currently connected or running. Nice detached oversized double stall garage with openers next to the house.

17. 2024-03-28
    price $245,000 746-char remark

    Show marketing remark (746 chars)

    This 1890s barn has potential to become a wonderful home with some vision and work. Situated on over 4.3 acres with stunning views of downtown and the court house with Butler Memorial Park adjoining the back side of the property. The first floor measures approximately 30 X 53 feet and has the possibility of having close to a 12 foot ceiling. Second floor, the old hay loft, has wood beams and a spiral stairway to a possible 3rd floor loft. The basement level with high ceilings was where horses were originally housed. Newer double pane windows throughout and house has a newer asphalt roof. There is a newer boiler in basement but not currently connected or running. Nice detached oversized double stall garage with openers next to the house.

18. 2024-03-15
    listed $255,000 Active 746-char remark

    Show marketing remark (746 chars)

    This 1890s barn has potential to become a wonderful home with some vision and work. Situated on over 4.3 acres with stunning views of downtown and the court house with Butler Memorial Park adjoining the back side of the property. The first floor measures approximately 30 X 53 feet and has the possibility of having close to a 12 foot ceiling. Second floor, the old hay loft, has wood beams and a spiral stairway to a possible 3rd floor loft. The basement level with high ceilings was where horses were originally housed. Newer double pane windows throughout and house has a newer asphalt roof. There is a newer boiler in basement but not currently connected or running. Nice detached oversized double stall garage with openers next to the house.

ⓘ 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: $2,327 · $194/mo
• Projected year-2 tax: $2,327 · $194/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 2/10 Low 6 d/yr ≥95°F today · 13 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: $12,948
• − Mortgage interest: −$6,610
• − Property taxes: −$2,327
• − Insurance: −$590
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$3,433
• Taxable loss: −$2,084
• Est. tax savings @ 24.0%: +$500
• After-tax cash flow: $386/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

-53.7% since first listed

7 events — show timeline

• 2026-06-17 Pending — West Penn MLS
• 2026-06-10 Relisted — West Penn MLS
• 2026-05-15 Contingent — West Penn MLS
• 2026-05-05 Listed $118,000 West Penn MLS
• 2024-08-28 Price Changed $195,000 West Penn MLS
• 2024-03-28 Price Changed $245,000 West Penn MLS
• 2024-03-15 Listed $255,000 West Penn MLS

Property tax history

+0.8%/yr

Latest (2026): $2,327 · -6.3% YoY. Source: county tax records.