4 Terrace Ave · Carnegie, PA 15106

$114,900

2 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 14 Days on market

Built 1900 3,049 sqft lot Est $167k · 31% under

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +7.0/10.0
• Livability +4.3/5.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely Remodeled!! Granite in Kitchen, new windows, furnace, a/c, roof, lights, electric box, marble shower with rainfall shower head, loft with walk in closet, loft

Key facts

• Metal backsplash
• Stainless appliances
• Wooded yard

Tags

• OFF-STREET PARKING
• GRANITE COUNTERTOPS
• METAL BACKSPLASH
• STAINLESS APPLIANCES
• REAR DECK
• WOODED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 8.6% vs local median 5.1% in Carnegie — 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 86/100 on livability (#55 in PA, #344 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities D.
• Carlynton SD (suburban): math 29% / reading 52% proficiency, ranked #352 of 539 in PA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.5%/yr); 67 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $88k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $114,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $166,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Annabelle St	0.37mi	2/1.0	1,282 (+5%)	7mo	$103,300	$81	68
559 Boquet St	0.25mi	3/2.0 (+1)	1,288 (+6%)	7mo	$185,568	$144	64
509 Alter St	0.49mi	3/1.5 (+1)	1,287 (+6%)	2mo	$105,000	$82	59
505 Noblestown Rd	0.47mi	3/1.5 (+1)	1,296 (+7%)	6mo	$93,900	$72	54
711 Charles St	0.32mi	3/1.0 (+1)	1,073 (-12%)	8mo	$125,000	$116	54
843 Library Ave	0.63mi	3/2.0 (+1)	1,257 (+3%)	3mo	$233,000	$185	53
3 Cypress Dr	0.67mi	3/2.0 (+1)	1,200 (-1%)	5mo	$280,000	$233	53
307 1st Ave	0.69mi	3/1.5 (+1)	1,335 (+10%)	3mo	$182,500	$137	42
430 Newkirk St	0.64mi	2/2.5	1,362 (+12%)	4mo	$160,000	$117	41
995 Forsythe Rd	0.62mi	3/2.0 (+1)	1,350 (+11%)	4mo	$169,000	$125	40
239 Marshall Ave	0.67mi	3/2.0 (+1)	1,050 (-14%)	3mo	$246,000	$234	35
139 Grienbrier Dr	0.68mi	3/2.0 (+1)	1,388 (+14%)	5mo	$287,000	$207	31

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

Projected returns pro-forma

-3.0% appreciation · 5.45% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,219
• Equity at exit: $17,132

10-year hold

• IRR: 11.3%
• Equity multiple: 2.00×
• Total profit: $32,087
• Equity at exit: $9,934

Cash invested: $32,172 (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 15106

• Home prices YoY: -31.9%
• Rents YoY: 5.5%
• Active inventory: 67
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$603
• Tax from tax record: −$223 /mo · $2,671/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $217

Break-even live

Break-even rent $1,105

Max offer price $114,900

Occupancy floor 79%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
834 Washington Ave Carnegie, PA	1.0–2.0	1.0–2.0	1026	$1,638	$1.60	2d	11	0.57mi
851 Kennedy St Carnegie, PA	3.0	1.0	1100	$1,800	$1.64	23d	1	0.68mi
303 Lexington Ct Carnegie, PA	2.0	1.0	1144	$1,200	$1.05	10d	1	0.71mi
312 Midland Ave Carnegie, PA	3.0	1.0	1332	$1,400	$1.05	43d	1	0.76mi
457 Carothers Ave Unit 6 Carnegie, PA	1.0	1.0	700	$850	$1.21	7d	1	0.80mi
230 Magazine St Unit 2 Carnegie, PA	2.0	1.0	1200	$1,295	$1.08	43d	1	0.91mi
622 Logan St Unit 2 Carnegie, PA	2.0	1.0	700	$1,055	$1.51	23d	1	0.95mi
700 Mansfield Ave Pittsburgh, PA	2.0	1.0–2.0	633	$1,465	$2.31	7d	2	0.97mi
135 Greenbriar Dr Pittsburgh, PA	3.0	1.0	950	$1,550	$1.63	4d	1	1.13mi
300 Chatham Park Dr Pittsburgh, PA	3.0	1.0–2.5	890	$1,705	$1.92	2d	49	1.24mi
301 Chatham Park Dr Pittsburgh, PA	1.0–2.0	1.0–1.5	772	$1,789	$2.32	1d	15	1.24mi
6 Woodlawn St Apt 2 Crafton, PA	1.0	1.0	725	$895	$1.23	43d	1	1.28mi
1640 Ellsworth Ave Unit 2 Heidelberg, PA	2.0	1.0	750	$1,125	$1.50	17d	1	1.29mi
523 Grant Ave Fl 2 Carnegie, PA	1.0	1.0	1000	$1,100	$1.10	43d	1	1.37mi

Listing history 11 events

1. 2026-04-07
   status Pending
2. 2026-04-07
   price $114,900
3. 2026-03-31
   historical Contingent
4. 2026-03-24
   listed $109,900 Active
5. 2008-06-17
   soldstatus $88,000
6. 2008-06-12
   soldstatus $88,000 169-char remark

   Show marketing remark (169 chars)

   Completely Remodeled!! Granite in Kitchen, new windows, furnace, a/c, roof, lights, electric box, marble shower with rainfall shower head, loft with walk in closet, loft

7. 2008-01-11
   listed $94,900 169-char remark

   Show marketing remark (169 chars)

   Completely Remodeled!! Granite in Kitchen, new windows, furnace, a/c, roof, lights, electric box, marble shower with rainfall shower head, loft with walk in closet, loft

8. 2007-06-19
   soldstatus $20,000
9. 2007-06-12
   soldstatus $20,000 65-char remark

   Show marketing remark (65 chars)

   PRICE REDUCED. Sold as is. John Morris Estate. BRING ALL OFFERS!!

10. 2006-12-30
    listed $30,000 65-char remark

    Show marketing remark (65 chars)

    PRICE REDUCED. Sold as is. John Morris Estate. BRING ALL OFFERS!!

11. 1976-05-11
    soldstatus $10,300

ⓘ 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: $2,671 · $223/mo
• Projected year-2 tax: $2,671 · $223/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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,563
• − Mortgage interest: −$6,436
• − Property taxes: −$2,671
• − Insurance: −$574
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$3,343
• Taxable income: $888
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,395/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: Carlynton SD
• NCES district ID: 4205040
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 52% ▼ -11.00%
• Median HH income: $46,249
• Composite: 34.46/100
• National rank: #5192
• State rank: #352 of 539 in PA

Livability — Carnegie

• Score: 86/100
• State rank: #55
• US rank: #344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carnegie, PA
• County: Allegheny County · 1,022,028 people
• City population: 19,244
• Metro: Pittsburgh, PA
• Population (ZIP): 19,244
• Household income: $77,247
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 410.0

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 (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Asian 2% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 5%
• Languages at home: 94% English-only · Other Indo-European 2% Arabic 1% 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: ▼ -119.52%
• Current HPI: 255.0295
• Rent YoY: ▲ 5.45%
• 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

+1015.5% since first listed

11 events — show timeline

• 2026-04-07 Pending — West Penn MLS
• 2026-04-07 Price Changed $114,900 West Penn MLS
• 2026-03-31 Contingent — West Penn MLS
• 2026-03-24 Listed $109,900 West Penn MLS
• 2008-06-17 Sold (Public Records) $88,000 Public Records
• 2008-06-12 Sold (MLS) $88,000 West Penn MLS
• 2008-01-11 Listed $94,900 West Penn MLS
• 2007-06-19 Sold (Public Records) $20,000 Public Records
• 2007-06-12 Sold (MLS) $20,000 West Penn MLS
• 2006-12-30 Listed $30,000 West Penn MLS
• 1976-05-11 Sold (Public Records) $10,300 Public Records

Property tax history

+3.5%/yr

Latest (2026): $2,671 · +1.2% YoY. Source: county tax records.