331 4th St · Freeport, PA 16229

$135,000

3 bd · 1.5 ba · 1,637 sqft · SingleFamily public records · 79 Days on market

Built 1908 1,306 sqft lot $82/sqft · 10% below area Est $150k · 10% under

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Why this score? — see what drove the C 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 +13.9/30.0
• ARV discount +12.1/15.0
• Appreciation +9.7/10.0
• Schools +5.2/10.0
• DSCR +4.2/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well-maintained 3 bedroom, 1.5 bath home situated on a corner lot at 4th St & Buffalo St in Freeport. Spacious living and dining rooms feature high ceilings and great natural light. Upstairs offers 3 nicely sized bedrooms, plus a finished and heated third-floor attic for additional living space. New wiring and updated plumbing. Minutes from Routes 28 and 356, offering an easy commute to Pittsburgh while enjoying small-town living.

Key facts

• New wiring
• Easy commute
• Corner lot

Tags

• CORNER LOT
• FINISHED AND HEATED ATTIC
• NEW WIRING
• UPDATED PLUMBING
• EASY COMMUTE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $16 ($191/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 $119k (12.1% below list).
• Recommended offer: $119k (12.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#1,133 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Freeport Area SD (rural): math 48% / reading 70% proficiency, ranked #74 of 539 in PA (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP; 58 units permitted in Armstrong County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (9.4% local appreciation)).
• Armstrong County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.4% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $114k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,660 (12.1% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.88% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• GRM: 9.5

CMA / ARV

• ARV (median comp): $150,336
• List price: $135,000
• Delta: -10.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Washington St	0.17mi	3/1.0	1,566 (-4%)	9mo	$145,000	$93	75
111 Buffalo St	0.07mi	4/1.0 (+1)	1,581 (-3%)	14mo	$85,000	$54	72
530 Franklin St	0.23mi	3/2.5	1,476 (-10%)	11mo	$151,000	$102	60
113 Market St	0.29mi	3/2.0	1,452 (-11%)	13mo	$149,900	$103	55
711 High St	0.33mi	3/2.5	1,460 (-11%)	10mo	$153,000	$105	54
513 Riverside Dr	0.32mi	3/1.0	1,422 (-13%)	10mo	$53,000	$37	53
612 Franklin St	0.53mi	3/1.5	1,432 (-12%)	11mo	$150,000	$105	46
543 Franklin St	0.27mi	3/1.0	1,412 (-14%)	23mo	$100,000	$71	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.84×
• Total profit: $69,389
• Equity at exit: $116,131

10-year hold

• IRR: 21.0%
• Equity multiple: 6.35×
• Total profit: $202,350
• Equity at exit: $244,822

Cash invested: $37,800 (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 16229

• Home prices YoY: 3.6%
• Active inventory: 11
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,187 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$157 /mo · $1,888/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $16

Break-even live

Break-even rent $1,166

Max offer price $135,000

Occupancy floor 94%

Sensitivity live

Price	-10% $92	-5% $54	+0% $16	+5% $-22	+10% $-61
Rent	-10% $-78	-5% $-31	+0% $16	+5% $63	+10% $110
Rate	-1.0pp $84	-0.5pp $50	base $16	+0.5pp $-19	+1.0pp $-55

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $135,000 Active 79 DOM
2. 2026-06-18
   days on market $135,000 Active 77 DOM
3. 2026-06-17
   days on market $135,000 Active 76 DOM
4. 2026-06-16
   days on market $135,000 Active 75 DOM
5. 2026-06-15
   days on market $135,000 Active 74 DOM
6. 2026-06-13
   days on market $135,000 Active 72 DOM
7. 2026-06-12
   days on market $135,000 Active 71 DOM
8. 2026-06-09
   days on market $135,000 Active 68 DOM
9. 2026-06-08
   days on market $135,000 Active 67 DOM
10. 2026-06-08
    days on market $135,000 Active 66 DOM
11. 2026-06-07
    days on market $135,000 Active 65 DOM
12. 2026-06-04
    days on market $135,000 Active 62 DOM
13. 2026-06-02
    days on market $135,000 Active 61 DOM
14. 2026-06-01
    days on market $135,000 Active 60 DOM
15. 2026-05-31
    days on market $135,000 Active 59 DOM
16. 2026-05-10
    status Active 440-char remark

    Show marketing remark (440 chars)

    Well-maintained 3 bedroom, 1.5 bath home situated on a corner lot at 4th St & Buffalo St in Freeport. Spacious living and dining rooms feature high ceilings and great natural light. Upstairs offers 3 nicely sized bedrooms, plus a finished and heated third-floor attic for additional living space. New wiring and updated plumbing. Minutes from Routes 28 and 356, offering an easy commute to Pittsburgh while enjoying small-town living.

17. 2026-05-10
    price $135,000 440-char remark

    Show marketing remark (440 chars)

    Well-maintained 3 bedroom, 1.5 bath home situated on a corner lot at 4th St & Buffalo St in Freeport. Spacious living and dining rooms feature high ceilings and great natural light. Upstairs offers 3 nicely sized bedrooms, plus a finished and heated third-floor attic for additional living space. New wiring and updated plumbing. Minutes from Routes 28 and 356, offering an easy commute to Pittsburgh while enjoying small-town living.

18. 2026-04-28
    historical Contingent 440-char remark

    Show marketing remark (440 chars)

    Well-maintained 3 bedroom, 1.5 bath home situated on a corner lot at 4th St & Buffalo St in Freeport. Spacious living and dining rooms feature high ceilings and great natural light. Upstairs offers 3 nicely sized bedrooms, plus a finished and heated third-floor attic for additional living space. New wiring and updated plumbing. Minutes from Routes 28 and 356, offering an easy commute to Pittsburgh while enjoying small-town living.

19. 2026-04-20
    price $145,000 440-char remark

    Show marketing remark (440 chars)

    Well-maintained 3 bedroom, 1.5 bath home situated on a corner lot at 4th St & Buffalo St in Freeport. Spacious living and dining rooms feature high ceilings and great natural light. Upstairs offers 3 nicely sized bedrooms, plus a finished and heated third-floor attic for additional living space. New wiring and updated plumbing. Minutes from Routes 28 and 356, offering an easy commute to Pittsburgh while enjoying small-town living.

20. 2026-03-31
    listed $150,000 Active 440-char remark

    Show marketing remark (440 chars)

    Well-maintained 3 bedroom, 1.5 bath home situated on a corner lot at 4th St & Buffalo St in Freeport. Spacious living and dining rooms feature high ceilings and great natural light. Upstairs offers 3 nicely sized bedrooms, plus a finished and heated third-floor attic for additional living space. New wiring and updated plumbing. Minutes from Routes 28 and 356, offering an easy commute to Pittsburgh while enjoying small-town living.

21. 2022-09-08
    soldstatus $113,500
22. 2022-09-07
    soldstatus $113,500 Closed 713-char remark

    Show marketing remark (713 chars)

    Welcome to 331 4th St. This charming 3 bedroom, 1 1/2 bath home sits on the corner of 4th and Buffalo in the heart of Freeport Borough. Conveniently located just minutes from routes 28 and 356 with an easy commute to Pittsburgh! Freeport provides small town living with easy access to the Allegheny river and hiking trails. The home features new LVP flooring, fresh paint, 2 new bedroom closets, and updated light fixtures. The spacious rooms provide plenty of living space. A main floor powder room is an added bonus! The second floor boasts 3 freshly updated bedrooms and a large main bathroom. A walk up third floor is a blank canvas ready to be finished for extra living space or tons of storage! A must see!

23. 2022-07-25
    historical Contingent 713-char remark

    Show marketing remark (713 chars)

    Welcome to 331 4th St. This charming 3 bedroom, 1 1/2 bath home sits on the corner of 4th and Buffalo in the heart of Freeport Borough. Conveniently located just minutes from routes 28 and 356 with an easy commute to Pittsburgh! Freeport provides small town living with easy access to the Allegheny river and hiking trails. The home features new LVP flooring, fresh paint, 2 new bedroom closets, and updated light fixtures. The spacious rooms provide plenty of living space. A main floor powder room is an added bonus! The second floor boasts 3 freshly updated bedrooms and a large main bathroom. A walk up third floor is a blank canvas ready to be finished for extra living space or tons of storage! A must see!

24. 2022-07-19
    listed $110,000 Active 713-char remark

    Show marketing remark (713 chars)

    Welcome to 331 4th St. This charming 3 bedroom, 1 1/2 bath home sits on the corner of 4th and Buffalo in the heart of Freeport Borough. Conveniently located just minutes from routes 28 and 356 with an easy commute to Pittsburgh! Freeport provides small town living with easy access to the Allegheny river and hiking trails. The home features new LVP flooring, fresh paint, 2 new bedroom closets, and updated light fixtures. The spacious rooms provide plenty of living space. A main floor powder room is an added bonus! The second floor boasts 3 freshly updated bedrooms and a large main bathroom. A walk up third floor is a blank canvas ready to be finished for extra living space or tons of storage! A must see!

25. 2020-04-14
    soldstatus $80,000
26. 2020-04-10
    status Under Contract
27. 2020-04-09
    soldstatus $80,000 Sold
28. 2020-02-29
    historical Contingent
29. 2020-02-28
    listed $74,900 Active
30. 2014-04-30
    listed $65,000
31. 2012-10-23
    listed $59,900
32. 2004-10-19
    soldstatus $45,000

ⓘ 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: $1,888 · $157/mo
• Projected year-2 tax: $2,010 · $168/mo
• Expected delta: +$123/yr (+$10/mo · 6.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,239
• − Mortgage interest: −$7,562
• − Property taxes: −$1,888
• − Insurance: −$675
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$3,927
• Taxable loss: −$2,091
• Est. tax savings @ 24.0%: +$502
• After-tax cash flow: $693/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: Freeport Area SD
• NCES district ID: 4210440
• Math proficiency: 48% ▼ -15.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $64,311
• Composite: 51.53/100
• National rank: #1716
• State rank: #74 of 539 in PA

Livability — Freeport

• Score: 65/100
• State rank: #1133
• US rank: #13004

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, PA
• Population (ZIP): 4,900

Population outlook (Armstrong County) Hauer SSP2

• Today (2025): 62,513 people
• By 2030: 59,579 · -4.7%
• By 2040: 52,890 · -15.4%
• By 2050: 45,904 · -26.6%
• By 2075: 32,023 · -48.8%
• By 2100: 20,415 · -67.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Asian 1%
• Common ancestry: Romanian 11% Slovak 3% Italian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Armstrong

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.2%
• 2008→2024 swing: -28.6pp toward R · 2008: -24.6pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+52.3 2016: R+52.0 2012: R+37.2 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.44%
• Current HPI: 269.016
• Rent YoY: —
• Metro: —
• 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

+200.0% since first listed

17 events — show timeline

• 2026-05-10 Relisted — West Penn MLS
• 2026-05-10 Price Changed $135,000 West Penn MLS
• 2026-04-28 Contingent — West Penn MLS
• 2026-04-20 Price Changed $145,000 West Penn MLS
• 2026-03-31 Listed $150,000 West Penn MLS
• 2022-09-08 Sold (Public Records) $113,500 Public Records
• 2022-09-07 Sold (MLS) $113,500 West Penn MLS
• 2022-07-25 Contingent — West Penn MLS
• 2022-07-19 Listed $110,000 West Penn MLS
• 2020-04-14 Sold (Public Records) $80,000 Public Records
• 2020-04-10 Pending — West Penn MLS
• 2020-04-09 Sold (MLS) $80,000 West Penn MLS
• 2020-02-29 Contingent — West Penn MLS
• 2020-02-28 Listed $74,900 West Penn MLS
• 2014-04-30 Listed $65,000 West Penn MLS
• 2012-10-23 Listed $59,900 West Penn MLS
• 2004-10-19 Sold (Public Records) $45,000 Public Records

Property tax history

+1.7%/yr

Latest (2026): $1,888 · +3.2% YoY. Source: county tax records.