212 Pine Ct

West View, PA 15237

$179,000D

2 bd · 1.5 ba · 1,286 sqft · Built 1980 · Condo · Active · 213 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,757/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$311
• HOA: −$550
• Vac / Maint / Mgmt: −$369
• Net cashflow: $-411/mo
• Annual: $-4,932/yr
• Cap rate: 3.54%
• Cash-on-cash: -9.84%
• DSCR: 0.56
• 1% rule: 0.98%
• Cash to close: $50,120

Investor read

• This is a 2-bed/1.5-bath condo listed at $179k.
• At list price, monthly cash flow is $-411 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (40.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (1.8% below list).
• It's been on market 213 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (40.6% below list) — sets the bar for cash-flow.
• 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 92/100 on livability (#8 in PA, #32 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• North Hills SD (suburban): math 48% / reading 72% proficiency, ranked #70 of 539 in PA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Mcintyre El Sch (math 51% / reading 75%, grade B, #298 of 1,518 statewide, top 20%, 618 students, 20% FRL); North Hills Ms (math 37% / reading 70%, grade C+, #86 of 512 statewide, top 17%, 1,070 students, 28% FRL); North Hills Shs (math 71% / reading 75%, grade B+, #35 of 437 statewide, top 8%, 1,383 students, 24% FRL) — zoned schools at 24% FRL track the district average.
• Watch-outs: HOA is 31% of rent.
• Market conditions: Rents rising (+2.2%/yr); 107 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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).
• 4 sale attempts since 22y 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.
• Current owner paid $124k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• 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?
• It's been on market 213 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?
• 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?