110 Main St

Coraopolis, PA 15108

$159,000B-

4 bd · 3.0 ba · — sqft · Built 1900 · MultiFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,607/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$725
• HOA: −$0
• Vac / Maint / Mgmt: −$547
• Net cashflow: $500/mo
• Annual: $6,004/yr
• Cap rate: 13.54%
• Cash-on-cash: 25.90%
• DSCR: 2.15
• 1% rule: 1.64%
• Cash to close: $44,520

Investor read

• This is a 2 × 2-bed/?-bath units multifamily listed at $159k. Condition is rated fair.
• At list price, monthly cash flow is $500 ($6k/yr) — positive. Per door: $250/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#193 in PA, #1,621 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, amenities B+.
• Cornell SD (suburban): math 16% / reading 39% proficiency, ranked #461 of 539 in PA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.1%/yr); 177 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.5% vs local median 5.7% in Coraopolis — 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.
• This rent runs 31% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed subflooring in the kitchen — The subflooring is exposed, indicating significant damage and the need for full replacement.
• Major: Missing cabinetry in the kitchen — The kitchen lacks cabinetry, which is a major functional issue and needs to be replaced.
• Major: Peeling paint in bathrooms — The peeling paint indicates significant deterioration and the need for full repainting.
• Major: Missing fixtures in bathrooms — The missing fixtures in the bathrooms are a major functional issue and need to be replaced.
• Major: Exposed subflooring in the living room — The subflooring is exposed, indicating significant damage and the need for full replacement.
• Major: Missing cabinetry in the living room — The living room lacks cabinetry, which is a major functional issue and needs to be replaced.