2204 Freeport Rd · New Kensington, PA 15068

$32,190

2 bd · 1.5 ba · 1,040 sqft · Other · 39 Days on market

Built 1920 3,484 sqft lot $31/sqft · 71% below area ↓ 19% since listing

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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 +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated kitchen, furnace, a/c, paint. Move in condition. Space for 4 cars off street parking in rear of house. Close to supermarket, shoping and rt. 28 expressway.

Key facts

• 3,484 sq ft lot
• Garage
• Built 1920

Property features AI

Finance

• Financial info: Tax year 2025; Annual tax amount $1,199

Exterior

• Parking: Detached garage (1 space)
• Utilities: Other water source
• Home design: Detached property; Fee simple ownership
• Construction: Other foundation; Year built (estimated)
• Exterior features: Above-grade other structure

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Other heating; Other cooling; Other hot water
• Interior features: Estimated living area; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $32k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.9% vs local median 7.1% in New Kensington — 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 69/100 on livability (#840 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D, crime F.
• New Kensington-Arnold SD (suburban): math 16% / reading 31% proficiency, ranked #483 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.9%/yr); 171 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $222 of loan paydown is wiped out by about $966 of value loss. Plan a longer hold.
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 3.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,224 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.50% ✓
• Cap rate: 28.87%
• Cash-on-cash: 80.64%
• DSCR: 4.59
• GRM: 2.4

CMA / ARV

• ARV (median comp): $112,153
• List price: $32,190
• Delta: -71.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.9% rent growth · sell at horizon

5-year hold

• IRR: 79.5%
• Equity multiple: 4.57×
• Total profit: $32,183
• Equity at exit: $4,800

10-year hold

• IRR: 82.7%
• Equity multiple: 9.10×
• Total profit: $72,972
• Equity at exit: $2,783

Cash invested: $9,013 (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 15068

• Home prices YoY: -12.2%
• Rents YoY: 1.9%
• Active inventory: 171
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,126 medium
• Mortgage (P&I): −$169
• Tax from tax record: −$102 /mo · $1,222/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $606

Break-even live

Break-even rent $360

Max offer price $32,190

Occupancy floor 41%

Sensitivity live

Price	-10% $624	-5% $615	+0% $606	+5% $597	+10% $587
Rent	-10% $517	-5% $561	+0% $606	+5% $650	+10% $695
Rate	-1.0pp $622	-0.5pp $614	base $606	+0.5pp $597	+1.0pp $589

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: $8,048
• Closing costs: $966
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Craigdell Rd New Kensington, PA	3.0	2.0	1300	$1,130	$0.87	2d	1	0.48mi
1330 Woodmont Ave New Kensington, PA	3.0	1.0	1250	$1,100	$0.88	11d	1	0.85mi
875 1st Ave Brackenridge, PA	3.0	2.0	1440	$1,399	$0.97	15d	1	1.48mi

Listing history 24 events

1. 2026-06-21
   days on market $32,190 Active 39 DOM
2. 2026-06-18
   days on market $32,190 Active 36 DOM
3. 2026-06-17
   days on market $32,190 Active 35 DOM
4. 2026-06-16
   days on market $32,190 Active 34 DOM
5. 2026-06-15
   days on market $32,190 Active 33 DOM
6. 2026-06-13
   days on market $32,190 Active 31 DOM
7. 2026-06-09
   days on market $32,190 Active 27 DOM
8. 2026-06-08
   days on market $32,190 Active 26 DOM
9. 2026-06-07
   days on market $32,190 Active 25 DOM
10. 2026-06-05
    days on market $32,190 Active 22 DOM
11. 2026-06-03
    days on market $32,190 Active 21 DOM
12. 2026-06-02
    days on market $32,190 Active 20 DOM
13. 2026-06-01
    days on market $32,190 Active 19 DOM
14. 2026-05-31
    days on market $32,190 Active 18 DOM
15. 2026-05-13
    listed $32,190 Active 526-char remark
16. 2011-09-27
    soldstatus $50,000
17. 2011-09-23
    price $57,500 163-char remark

    Show marketing remark (163 chars)

    Updated kitchen, furnace, a/c, paint. Move in condition. Space for 4 cars off street parking in rear of house. Close to supermarket, shoping and rt. 28 expressway.

18. 2011-09-23
    soldstatus $50,000 163-char remark

    Show marketing remark (163 chars)

    Updated kitchen, furnace, a/c, paint. Move in condition. Space for 4 cars off street parking in rear of house. Close to supermarket, shoping and rt. 28 expressway.

19. 2011-07-06
    listed $50,000 163-char remark

    Show marketing remark (163 chars)

    Updated kitchen, furnace, a/c, paint. Move in condition. Space for 4 cars off street parking in rear of house. Close to supermarket, shoping and rt. 28 expressway.

20. 2007-07-17
    soldstatus $15,500

    Show marketing remark (136 chars)

    Agents view offer management at www. meridiansells.com & submit offers online. SOLD AS-IS !!! Contact Floor Agent For Assess Code.

21. 2007-01-23
    listed $20,000

    Show marketing remark (136 chars)

    Agents view offer management at www. meridiansells.com & submit offers online. SOLD AS-IS !!! Contact Floor Agent For Assess Code.

22. 2000-06-15
    soldstatus $37,300
23. 2000-06-09
    soldstatus $37,300
24. 1999-12-27
    listed $39,900

ⓘ 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: $1,222 · $102/mo
• Projected year-2 tax: $1,222 · $102/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 ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,515
• − Mortgage interest: −$1,803
• − Property taxes: −$1,222
• − Insurance: −$161
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − Depreciation: −$936
• Taxable income: $7,230
• Est. tax owed @ 24.0%: −$1,735
• After-tax cash flow: $5,533/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: New Kensington-Arnold SD
• NCES district ID: 4216740
• Math proficiency: 16% ▼ -7.00%
• Reading proficiency: 31% ▼ -13.00%
• Median HH income: $34,386
• Composite: 19.26/100
• National rank: #8805
• State rank: #483 of 539 in PA

Livability — New Kensington

• Score: 69/100
• State rank: #840
• US rank: #8791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Kensington, PA
• County: Westmoreland County · 183,777 people
• City population: 36,203
• Metro: Pittsburgh, PA
• Population (ZIP): 36,203
• Household income: $63,426
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 967.0

Population outlook (Westmoreland County) Hauer SSP2

• Today (2025): 342,555 people
• By 2030: 331,717 · -3.2%
• By 2040: 304,976 · -11.0%
• By 2050: 277,444 · -19.0%
• By 2075: 224,607 · -34.4%
• By 2100: 171,084 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 12% Subsaharan African 2% Serbian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 0%

Political lean MEDSL · Westmoreland

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.9%
• 2008→2024 swing: -11.7pp toward R · 2008: -16.7pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+28.3 2016: R+31.3 2012: R+23.7 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.50%
• Current HPI: 305.926
• Rent YoY: ▲ 1.90%
• 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

-19.3% since first listed

10 events — show timeline

• 2026-05-13 Listed $32,190 BRIGHT MLS
• 2011-09-27 Sold (Public Records) $50,000 Public Records
• 2011-09-23 Sold (MLS) $50,000 West Penn MLS
• 2011-09-23 Price Changed $57,500 West Penn MLS
• 2011-07-06 Listed $50,000 West Penn MLS
• 2007-07-17 Sold (MLS) $15,500 West Penn MLS
• 2007-01-23 Listed $20,000 West Penn MLS
• 2000-06-15 Sold (Public Records) $37,300 Public Records
• 2000-06-09 Sold (MLS) $37,300 West Penn MLS
• 1999-12-27 Listed $39,900 West Penn MLS

Property tax history

+2.0%/yr

Latest (2026): $1,222 · +0.0% YoY. Source: county tax records.