1151 Jones Ave

North Braddock, PA 15104

$125,000C

2 bd · 1.5 ba · 979 sqft · Built 1937 · SingleFamily · Pending · 217 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,038/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $81/mo
• Annual: $967/yr
• Cap rate: 7.07%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• 1% rule: 0.83%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.5-bath single-family listed at $125k.
• At list price, monthly cash flow is $81 ($967/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (17.0% below list).
• It's been on market 217 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (17.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.6%/yr); year-one equity from $864 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#550 in PA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• 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.
• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 3 sale attempts since 18y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $125k implies a 525% gain — meaningful room to come down on a strong offer.
• This rent runs 31% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 217 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.