538 E 9th Ave · Munhall, PA 15120

$80,000

4 bd · 2.0 ba · 2,462 sqft · MultiFamily public records · 35 Days on market

Built 1900 3,628 sqft lot $32/sqft · 58% below area ↓ 16% since listing

---

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 +3.9/5.0
• Rent growth +3.5/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Endless potential at 538 E 9th Ave in Munhall! This spacious 4 bed / 2 bath home offers incredible flexibility for investors, flippers, or owner-occupants looking to create value. With a large layout and additional third-floor space that could be utilized for extra bedrooms, office space, or additional living area, the possibilities here are endless. The property could also potentially be converted into a duplex, making it a strong opportunity for rental income or house hacking. The home is in need of a full renovation, but several major mechanical updates have already been completed, including some updated electrical and plumbing, along with a newer furnace replaced just a few years ago. Whether you’re looking for your next renovation project, long-term investment, or chance to customize a property from the ground up, this is an opportunity you won’t want to miss!

Key facts

• Third-floor space
• Updated electrical
• Newer furnace

Tags

• LARGE LAYOUT
• THIRD-FLOOR SPACE
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• NEWER FURNACE
• POTENTIAL DUPLEX

Property features AI

Exterior

• Utilities: Public water service; Public sewer service
• Home design: Two-story frame house; Asphalt roof; Resale property
• Construction: Frame construction
• Exterior features: Public water; Public sewer

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Full basement; Three gas fireplaces

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.5% vs local median 7.3% in Munhall — 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 78/100 on livability (#308 in PA, #2,734 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F.
• Steel Valley SD (suburban): math 29% / reading 45% proficiency, ranked #403 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 92 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $2,217/mo this rent would consume 48% of the median local household income ($56k/yr) (locally 669% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.77% ✓
• Cap rate: 24.47%
• Cash-on-cash: 64.93%
• DSCR: 3.89
• GRM: 3.0

CMA / ARV

• ARV (median comp): $189,126
• List price: $80,000
• Delta: -57.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 65.3%
• Equity multiple: 3.98×
• Total profit: $66,642
• Equity at exit: $11,928

10-year hold

• IRR: 69.9%
• Equity multiple: 8.48×
• Total profit: $167,548
• Equity at exit: $6,917

Cash invested: $22,400 (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 15120

• Home prices YoY: -16.9%
• Rents YoY: 4.1%
• Active inventory: 92
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,217 high
• Mortgage (P&I): −$420
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $1,212

Break-even live

Break-even rent $683

Max offer price $80,000

Occupancy floor 40%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
351 W 12th Ave Homestead, PA	5.0	2.0	1856	$2,300	$1.24	1d	1	0.63mi
7009 Church St Pittsburgh, PA	3.0	2.0	1800	$1,550	$0.86	43d	1	0.93mi
218 Mary St Homestead, PA	3.0	1.0	1776	$1,400	$0.79	21d	1	1.11mi
6581 Rosemoor St Pittsburgh, PA	3.0	2.5	1752	$2,800	$1.60	12d	1	1.36mi
2219 Manor Ave Pittsburgh, PA	3.0	1.0	1638	$1,600	$0.98	23d	1	1.43mi
3 3rd Ave Braddock, PA	5.0	3.0	2500	$3,800	$1.52	43d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $80,000 Active 35 DOM
2. 2026-06-17
   days on market $80,000 Active 34 DOM
3. 2026-06-16
   days on market $80,000 Active 33 DOM
4. 2026-06-15
   days on market $80,000 Active 32 DOM
5. 2026-06-13
   days on market $80,000 Active 30 DOM
6. 2026-06-09
   days on market $80,000 Active 26 DOM
7. 2026-06-08
   days on market $80,000 Active 25 DOM
8. 2026-06-07
   days on market $80,000 Active 24 DOM
9. 2026-06-05
   pricedays on market $80,000 Active 21 DOM
10. 2026-06-03
    days on market $95,000 Active 20 DOM
11. 2026-06-02
    days on market $95,000 Active 19 DOM
12. 2026-06-01
    days on market $95,000 Active 18 DOM
13. 2026-05-31
    days on market $95,000 Active 17 DOM
14. 2026-05-14
    listed $95,000 Active 889-char remark

    Show marketing remark (889 chars)

    Endless potential at 538 E 9th Ave in Munhall! This spacious 4 bed / 2 bath home offers incredible flexibility for investors, flippers, or owner-occupants looking to create value. With a large layout and additional third-floor space that could be utilized for extra bedrooms, office space, or additional living area, the possibilities here are endless. The property could also potentially be converted into a duplex, making it a strong opportunity for rental income or house hacking. The home is in need of a full renovation, but several major mechanical updates have already been completed, including some updated electrical and plumbing, along with a newer furnace replaced just a few years ago. Whether you’re looking for your next renovation project, long-term investment, or chance to customize a property from the ground up, this is an opportunity you won’t want to miss!

15. 2026-05-14
    listed $95,000 Active 889-char remark

    Show marketing remark (889 chars)

    Endless potential at 538 E 9th Ave in Munhall! This spacious 4 bed / 2 bath home offers incredible flexibility for investors, flippers, or owner-occupants looking to create value. With a large layout and additional third-floor space that could be utilized for extra bedrooms, office space, or additional living area, the possibilities here are endless. The property could also potentially be converted into a duplex, making it a strong opportunity for rental income or house hacking. The home is in need of a full renovation, but several major mechanical updates have already been completed, including some updated electrical and plumbing, along with a newer furnace replaced just a few years ago. Whether you’re looking for your next renovation project, long-term investment, or chance to customize a property from the ground up, this is an opportunity you won’t want to miss!

ⓘ 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: $1,041 · $87/mo
• Projected year-2 tax: $1,152 · $96/mo
• Expected delta: +$112/yr (+$9/mo · 10.7%)

ⓘ 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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,606
• − Mortgage interest: −$4,481
• − Property taxes: −$1,041
• − Insurance: −$400
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − Depreciation: −$2,327
• Taxable income: $14,100
• Est. tax owed @ 24.0%: −$3,384
• After-tax cash flow: $11,160/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: Steel Valley SD
• NCES district ID: 4222790
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $39,505
• Composite: 30.94/100
• National rank: #6111
• State rank: #403 of 539 in PA

Livability — Munhall

• Score: 78/100
• State rank: #308
• US rank: #2734

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munhall, PA
• County: Allegheny County · 1,022,028 people
• City population: 18,029
• Metro: Pittsburgh, PA
• Population (ZIP): 18,029
• Household income: $55,714
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 669.0

Population outlook (Allegheny County) Hauer SSP2

• Today (2025): 1,250,282 people
• By 2030: 1,256,482 · +0.5%
• By 2040: 1,256,318 · +0.5%
• By 2050: 1,244,169 · -0.5%
• By 2075: 1,197,693 · -4.2%
• By 2100: 1,093,187 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Allegheny

• 2024 margin: Strong D (+20.3) · D 59.7% · R 39.4%
• 2008→2024 swing: +4.8pp toward D · 2008: 15.5pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+20.4 2016: D+16.4 2012: D+14.4 2008: D+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.52%
• Current HPI: 292.5607
• Rent YoY: ▲ 4.06%
• 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

-15.8% since first listed

4 events — show timeline

• 2026-06-04 Price Changed $80,000 West Penn MLS
• 2026-06-04 Price Changed $80,000 West Penn MLS
• 2026-05-14 Listed $95,000 West Penn MLS
• 2026-05-14 Listed $95,000 West Penn MLS

Property tax history

-4.0%/yr

Latest (2026): $1,041 · +3.9% YoY. Source: county tax records.