134-136 James St

Springdale, PA 15144

$299,000D

4 bd · 3.0 ba · — sqft · Built 1962 · MultiFamily · Active · 262 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,689/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$498
• HOA: −$0
• Vac / Maint / Mgmt: −$565
• Net cashflow: $58/mo
• Annual: $696/yr
• Cap rate: 6.53%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• 1% rule: 0.90%
• Cash to close: $83,720

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $299k. Condition is rated average.
• At list price, monthly cash flow is $58 ($696/yr) — positive. Per door: $29/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (10.1% below list).
• It's been on market 262 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#407 in PA, #3,696 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Allegheny Valley SD (suburban): math 29% / reading 53% proficiency, ranked #341 of 539 in PA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Acmetonia El Sch (math 26% / reading 56%, grade F, #932 of 1,518 statewide, top 62%, 484 students, 100% FRL); Springdale Jshs (math 32% / reading 47%, grade F, #265 of 437 statewide, top 63%, 387 students, 94% FRL) — zoned schools average 97% FRL vs 36% district-wide (61 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 16 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 4 sale attempts since 2y 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.

Questions for listing agent

• It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1962 — 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.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Older cabinets need updating
• Moderate: Kitchen appliances — Dated appliances need replacing
• Moderate: Bathroom fixtures — Standard fixtures need updating
• Moderate: Landscaping — Overgrown areas need trimming