1945 Delaware Ave · Swissvale, PA 15218

$150,000

5 bd · 3.0 ba · 2,442 sqft · MultiFamily public records · 7 Days on market

Built 1902 5,832 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 +4.2/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Attention investors, contractors, and seasoned renovators — this is the opportunity you've been waiting for! This legal three-unit property offers exceptional bones and tremendous upside for the right buyer willing to roll up their sleeves. Could potentially be a 4 unit property! The classic two-and-a-half story building features original hardwood floors throughout, high ceilings, large double-hung windows flooding units with natural light, and a charming exposed brick fireplace surround. A third-floor dormer adds character and additional square footage. Each unit has its own entry, and the property already has two central A/C condensing units in place. Work already underway —

Key facts

• Three unit property
• Third floor dormer
• High ceilings

Tags

• THREE UNIT PROPERTY
• ORIGINAL HARDWOOD FLOORS
• HIGH CEILINGS
• LARGE DOUBLE HUNG WINDOWS
• EXPOSED BRICK FIREPLACE
• THIRD FLOOR DORMER

Property features AI

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Electricity available; Natural gas available; Public water available; Public sewer available
• Home design: Multi-family property with 3 units; Zoned R3; Lot about 40 x 150
• Construction: Frame construction; Asphalt roof
• Exterior features: Public transportation access

Interior

• Bedrooms: Two 2-bedroom units; One 1-bedroom unit
• Bathrooms: Each unit has one full bathroom
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $530/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $150k).
• Cap rate 23.2% vs local median 6.3% in Swissvale — 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 84/100 on livability (#95 in PA, #694 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, amenities D+.
• Woodland Hills SD (suburban): math 13% / reading 30% proficiency, ranked #486 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.0%/yr); 78 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $4,041/mo this rent would consume 71% of the median local household income ($68k/yr) (locally 605% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $58k; list at $150k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1902 — 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 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?
6. 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.
7. 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.
8. 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: 2.69% ✓
• Cap rate: 23.24%
• Cash-on-cash: 60.52%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.02% rent growth · sell at horizon

5-year hold

• IRR: 62.8%
• Equity multiple: 3.94×
• Total profit: $123,342
• Equity at exit: $22,365

10-year hold

• IRR: 68.3%
• Equity multiple: 9.02×
• Total profit: $336,702
• Equity at exit: $12,969

Cash invested: $42,000 (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 15218

• Rents YoY: 6.0%
• Active inventory: 78
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $4,041 high
• Mortgage (P&I): −$787
• Tax from tax record: −$225 /mo · $2,700/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$849
• Net cashflow: $2,118

Break-even live

Break-even rent $1,360

Max offer price $150,000

Occupancy floor 43%

Sensitivity live

Price	-10% $2,203	-5% $2,161	+0% $2,118	+5% $2,076	+10% $2,033
Rent	-10% $1,799	-5% $1,959	+0% $2,118	+5% $2,278	+10% $2,438
Rate	-1.0pp $2,194	-0.5pp $2,156	base $2,118	+0.5pp $2,079	+1.0pp $2,040

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$4,040
Total (4 units)			$4,041

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
745 Franklin Ave Pittsburgh, PA	4.0	2.0	1948	$1,599	$0.82	44d	1	1.09mi
1030 Ross Ave Pittsburgh, PA	4.0	3.5	2856	$2,200	$0.77	2d	1	1.11mi
3 3rd Ave Braddock, PA	5.0	3.0	2500	$3,800	$1.52	44d	1	1.11mi

Listing history 6 events

1. 2026-06-18
   days on market $150,000 Active 7 DOM
2. 2026-06-17
   days on market $150,000 Active 6 DOM
3. 2026-06-16
   days on market $150,000 Active 5 DOM
4. 2026-06-15
   days on market $150,000 Active 4 DOM
5. 2026-06-13
   remarks 687-char remark
6. 2026-06-13
   listed $150,000 Active 2 DOM

ⓘ 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: $2,700 · $225/mo
• Projected year-2 tax: $2,700 · $225/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 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,492
• − Mortgage interest: −$8,402
• − Property taxes: −$2,700
• − Insurance: −$750
• − Repairs & maintenance: −$3,879
• − Management: −$3,879
• − Depreciation: −$4,364
• Taxable income: $24,517
• Est. tax owed @ 24.0%: −$5,884
• After-tax cash flow: $19,535/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: Woodland Hills SD
• NCES district ID: 4216500
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 30% ▼ -10.00%
• Median HH income: $41,803
• Composite: 18.31/100
• National rank: #8954
• State rank: #486 of 539 in PA

Livability — Swissvale

• Score: 84/100
• State rank: #95
• US rank: #694

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Swissvale, PA
• County: Allegheny County · 1,022,028 people
• City population: 13,443
• Metro: Pittsburgh, PA
• Population (ZIP): 13,379
• Household income: $67,960
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 605.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 19% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 6% Serbian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Chinese 1%

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: ▼ -188.20%
• Current HPI: 297.8483
• Rent YoY: ▲ 6.02%
• 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

+158.6% since first listed

2 events — show timeline

• 2026-06-11 Listed $150,000 West Penn MLS
• 1984-07-26 Sold (Public Records) $58,000 Public Records

Property tax history

+4.6%/yr

Latest (2026): $2,700 · +5.6% YoY. Source: county tax records.