2309-2311 Highland Ave · McKeesport, PA 15132

$275,000

10 bd · 5.0 ba · — sqft · MultiFamily · 128 Days on market

Built 1980 5,000 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent Investor Opportunity! 2309–2311 Highland Ave is a well-maintained 5-unit multifamily property in McKeesport. Each unit offers a 2-bedroom, 1-bath layout, providing a consistent and highly desirable floor plan for tenants. Currently, 4 of the 5 units are occupied, with the remaining unit pending a tenant contract, offering a clear path to full occupancy. Tenants pay gas, electric, cable/internet, and public water, helping to minimize owner expenses. The property also features three garages, providing additional income potential. With stable tenancy, separate utilities, and supplemental garage income, this property presents a strong cash-flow opportunity for investors looking

Key facts

• Three garages
• Separate utilities
• Brand new roof

Tags

• 5 UNIT MULTIFAMILY PROPERTY
• 2 BEDROOM 1 BATH LAYOUT
• BRAND NEW ROOF
• THREE GARAGES
• SEPARATE UTILITIES
• SUPPLEMENTAL GARAGE INCOME

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Gross annual income reported as $38,069; Individual unit rents reported: $550, $650, $525, $525, $725
• HOA & community: No HOA information provided

Exterior

• Parking: Attached garage; Total of 3 parking spaces
• Security: No security features listed
• Utilities: Electricity available; Natural gas available; Public sewer available; Public water available
• Home design: Multi-family building (5 units)
• Construction: Brick construction; Asphalt roof
• Exterior features: Zoned R3

Interior

• Kitchen: No appliances listed
• Bedrooms: Five 2-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: No heating or cooling details provided
• Interior features: Basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1.0-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $538/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 10.3% in McKeesport — 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 66/100 on livability (#1,089 in PA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D, crime F.
• Mckeesport Area SD (suburban): math 11% / reading 28% proficiency, ranked #499 of 539 in PA (top 93%) — 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.
• Market conditions: 113 active listings in the ZIP; lower-income renter base — watch delinquency; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $5,811/mo this rent would consume 197% of the median local household income ($35k/yr) (locally 1239% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F 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?
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 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: 2.11% ✓
• Cap rate: 18.03%
• Cash-on-cash: 41.93%
• DSCR: 2.87
• GRM: 3.9

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2309-2311 Highland Ave	0.00mi	10/5.0	—	1mo	$247,500	—	87

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 2.65×
• Total profit: $126,868
• Equity at exit: $41,003

10-year hold

• IRR: 45.1%
• Equity multiple: 5.30×
• Total profit: $331,461
• Equity at exit: $23,777

Cash invested: $77,000 (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 15132

• Home prices YoY: -32.9%
• Active inventory: 113
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $5,811 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,220
• Net cashflow: $2,690

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 49%

Sensitivity live

Price	-10% $2,880	-5% $2,785	+0% $2,690	+5% $2,595	+10% $2,500
Rent	-10% $2,231	-5% $2,461	+0% $2,690	+5% $2,920	+10% $3,149
Rate	-1.0pp $2,829	-0.5pp $2,760	base $2,690	+0.5pp $2,619	+1.0pp $2,546

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$5,810
Total (5 units)			$5,811

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-10
   status Pending
2. 2026-04-02
   historical Contingent
3. 2026-03-02
   status Active
4. 2026-02-05
   historical Contingent
5. 2026-01-02
   listed $275,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,732
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$5,579
• − Management: −$5,579
• − Depreciation: −$8,000
• Taxable income: $29,671
• Est. tax owed @ 24.0%: −$7,121
• After-tax cash flow: $25,162/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: Mckeesport Area SD
• NCES district ID: 4214940
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $33,779
• Composite: 15.88/100
• National rank: #9257
• State rank: #499 of 539 in PA

Livability — McKeesport

• Score: 66/100
• State rank: #1089
• US rank: #12321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McKeesport, PA
• County: Allegheny County · 1,022,028 people
• City population: 25,010
• Metro: Pittsburgh, PA
• Population (ZIP): 18,898
• Household income: $35,397
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1239.0

Population outlook (Allegheny County) Hauer SSP2

• Today (2025): 1,250,282 people
• By 2030: 1,256,482 · +0.5%
• By 2040: 1,256,318 · +0.5%
• By 2050: 1,244,169 · -0.5%
• By 2075: 1,197,693 · -4.2%
• By 2100: 1,093,187 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 50% Black 35% Two or more races 10% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 5% Serbian 2% Scotch-Irish 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Allegheny

• 2024 margin: Strong D (+20.3) · D 59.7% · R 39.4%
• 2008→2024 swing: +4.8pp toward D · 2008: 15.5pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+20.4 2016: D+16.4 2012: D+14.4 2008: D+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.01%
• Current HPI: 145.195
• Rent YoY: —
• 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

5 events — show timeline

• 2026-05-10 Pending — West Penn MLS
• 2026-04-02 Contingent — West Penn MLS
• 2026-03-02 Relisted — West Penn MLS
• 2026-02-05 Contingent — West Penn MLS
• 2026-01-02 Listed $275,000 West Penn MLS