556 Park Ave · Johnstown, PA 15902

$49,900

5 bd · 2.0 ba · 3,456 sqft · SingleFamily · 53 Days on market

4,792 sqft lot $14/sqft · 45% below area Est $91k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is seeking a new owner. Bring back the beauty of this home and it's beautiful oak woodwork. Included are some stained glass & 3 beautifully styled fireplaces. This home has so much space - convert the 2nd floor kitchen into a bedroom and you could have 4 bedrooms on the 2nd floor along with a full bath. The 3rd floor is finished as well for more living space. The first floor has a living room, dining room, kitchen, a "family room" and another room that could be a bedroom for ease of use for some who may not be able to do stairs well. The possibilities of this historic home designed by renowned architect Walter Miton, are endless!

Key facts

• Finished third floor
• Historic property
• Flexible layout

Tags

• HISTORIC PROPERTY
• OAK WOODWORK
• STAINED GLASS ACCENTS
• UNIQUELY STYLED FIREPLACES
• FLEXIBLE LAYOUT
• FINISHED THIRD FLOOR

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Sewer available
• Home design: Single-family residence; Three or more levels (3 stories)
• Construction: Cedar construction
• Exterior features: Shingle roof; Lot approximately 40 x 120 (0.11 acres); Residential zoning

Interior

• Bedrooms: Master on main level
• Flooring: Hardwood; Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas
• Interior features: Master bedroom on the main level; Full unfinished basement; Gas fireplaces (3 total)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.2% vs local median 15.0% in Johnstown — 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 77/100 on livability (#363 in PA, #3,168 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• Greater Johnstown SD (urban): math 9% / reading 25% proficiency, ranked #509 of 539 in PA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 64 active listings in the ZIP; lower-income renter base — watch delinquency; 64 units permitted in Cambria County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cambria County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.82% ✓
• Cap rate: 22.16%
• Cash-on-cash: 56.66%
• DSCR: 3.52
• GRM: 3.0

CMA / ARV

• ARV (median comp): $90,541
• List price: $49,900
• Delta: -44.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
732-734 Linden Ave	0.36mi	4/3.0 (-1)	3,245 (-6%)	14mo	$88,000	$27	52
86 Suppes Ave	0.51mi	4/2.5 (-1)	3,219 (-7%)	21mo	$135,000	$42	40

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: 55.1%
• Equity multiple: 3.43×
• Total profit: $34,018
• Equity at exit: $7,440

10-year hold

• IRR: 60.2%
• Equity multiple: 7.02×
• Total profit: $84,080
• Equity at exit: $4,314

Cash invested: $13,972 (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 15902

• Home prices YoY: -28.8%
• Active inventory: 64
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,408 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$170 /mo · $2,037/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $660

Break-even live

Break-even rent $572

Max offer price $49,900

Occupancy floor 48%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $49,900 Active 53 DOM
2. 2026-06-18
   days on market $49,900 Active 52 DOM
3. 2026-06-17
   days on market $49,900 Active 51 DOM
4. 2026-06-16
   days on market $49,900 Active 50 DOM
5. 2026-06-15
   days on market $49,900 Active 49 DOM
6. 2026-06-14
   days on market $49,900 Active 47 DOM
7. 2026-06-12
   days on market $49,900 Active 46 DOM
8. 2026-06-09
   days on market $49,900 Active 43 DOM
9. 2026-06-08
   days on market $49,900 Active 42 DOM
10. 2026-06-07
    days on market $49,900 Active 41 DOM
11. 2026-06-05
    days on market $49,900 Active 38 DOM
12. 2026-06-02
    days on market $49,900 Active 36 DOM
13. 2026-06-01
    days on market $49,900 Active 35 DOM
14. 2026-05-31
    days on market $49,900 Active 34 DOM
15. 2026-05-30
    days on market $49,900 Active 33 DOM
16. 2026-04-27
    listed $49,900 Active 1094-char remark
17. 2025-02-18
    soldstatus $46,000
18. 2025-02-07
    soldstatus $46,000 Closed 667-char remark

    Show marketing remark (667 chars)

    This property is seeking a new owner. Bring back the beauty of this home and it's beautiful oak woodwork. Included are some stained glass & 3 beautifully styled fireplaces. This home has so much space - convert the 2nd floor kitchen into a bedroom and you could have 4 bedrooms on the 2nd floor along with a full bath. The 3rd floor is finished as well for more living space. The first floor has a living room, dining room, kitchen, a "family room" and another room that could be a bedroom for ease of use for some who may not be able to do stairs well. The possibilities of this historic home designed by renowned architect Walter Miton, are endless!

19. 2024-12-29
    historical Active Under Contract 667-char remark

    Show marketing remark (667 chars)

    This property is seeking a new owner. Bring back the beauty of this home and it's beautiful oak woodwork. Included are some stained glass & 3 beautifully styled fireplaces. This home has so much space - convert the 2nd floor kitchen into a bedroom and you could have 4 bedrooms on the 2nd floor along with a full bath. The 3rd floor is finished as well for more living space. The first floor has a living room, dining room, kitchen, a "family room" and another room that could be a bedroom for ease of use for some who may not be able to do stairs well. The possibilities of this historic home designed by renowned architect Walter Miton, are endless!

20. 2024-12-02
    listed $64,900 Active 667-char remark

    Show marketing remark (667 chars)

    This property is seeking a new owner. Bring back the beauty of this home and it's beautiful oak woodwork. Included are some stained glass & 3 beautifully styled fireplaces. This home has so much space - convert the 2nd floor kitchen into a bedroom and you could have 4 bedrooms on the 2nd floor along with a full bath. The 3rd floor is finished as well for more living space. The first floor has a living room, dining room, kitchen, a "family room" and another room that could be a bedroom for ease of use for some who may not be able to do stairs well. The possibilities of this historic home designed by renowned architect Walter Miton, are endless!

21. 1998-09-23
    soldstatus $54,000
22. 1998-09-15
    soldstatus $54,000
23. 1998-07-09
    listed $59,500
24. 1998-04-09
    listed $64,900
25. 1991-07-01
    soldstatus $34,500
26. 1989-08-01
    soldstatus $33,000

ⓘ 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: $2,037 · $170/mo
• Projected year-2 tax: $2,037 · $170/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 8 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,890
• − Mortgage interest: −$2,795
• − Property taxes: −$2,037
• − Insurance: −$250
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − Depreciation: −$1,452
• Taxable income: $7,654
• Est. tax owed @ 24.0%: −$1,837
• After-tax cash flow: $6,079/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: Greater Johnstown SD
• NCES district ID: 4210950
• Math proficiency: 9% ▼ -6.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $27,890
• Composite: 13.25/100
• National rank: #9550
• State rank: #509 of 539 in PA

Livability — Johnstown

• Score: 77/100
• State rank: #363
• US rank: #3168

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnstown, PA
• County: Cambria County · 30,791 people
• City population: 30,791
• Metro: Johnstown, PA
• Population (ZIP): 11,462
• Household income: $44,215
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 266.0

Population outlook (Cambria County) Hauer SSP2

• Today (2025): 122,754 people
• By 2030: 115,827 · -5.6%
• By 2040: 101,309 · -17.5%
• By 2050: 88,379 · -28.0%
• By 2075: 65,237 · -46.9%
• By 2100: 46,909 · -61.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 14% Black 8% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Slovak 2% Hungarian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cambria

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -40.4pp toward R · 2008: 0.7pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.3 2016: R+37.8 2012: R+17.8 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.86%
• Current HPI: 108.2198
• Rent YoY: —
• Metro: Johnstown, 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

+51.2% since first listed

11 events — show timeline

• 2026-04-27 Listed $49,900 CSMLS
• 2025-02-18 Sold (Public Records) $46,000 Public Records
• 2025-02-07 Sold (MLS) $46,000 CSMLS
• 2024-12-29 Contingent — CSMLS
• 2024-12-02 Listed $64,900 CSMLS
• 1998-09-23 Sold (MLS) $54,000 CSMLS
• 1998-09-15 Sold (Public Records) $54,000 Public Records
• 1998-07-09 Listed $59,500 CSMLS
• 1998-04-09 Listed $64,900 CSMLS
• 1991-07-01 Sold (Public Records) $34,500 Public Records
• 1989-08-01 Sold (Public Records) $33,000 Public Records

Property tax history

-0.2%/yr

Latest (2026): $2,037 · +0.0% YoY. Source: county tax records.