80 Caldwell Ave

Washington, PA 15301

$44,700B

2 bd · 1.0 ba · 902 sqft · Built 1933 · SingleFamily · Pending · 336 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $963/mo
• Mortgage (P&I): −$234
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $410/mo
• Annual: $4,925/yr
• Cap rate: 17.31%
• Cash-on-cash: 39.35%
• DSCR: 2.75
• 1% rule: 2.16%
• Cash to close: $12,516

Investor read

• This is a 2-bed/1.0-bath single-family listed at $45k.
• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $45k).
• It's been on market 336 days — a 12% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $309 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#77 in PA, #558 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D-.
• Trinity Area SD (suburban): math 39% / reading 61% proficiency, ranked #172 of 539 in PA (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.6% of price; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.4%/yr); 163 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $45k implies a 135% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 17.3% vs local median 2.8% in Washington — 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 is only 16% of the median local income ($70k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.