3416 Gleason St · McKeesport, PA 15132

$29,900

3 bd · 1.0 ba · 1,190 sqft · SingleFamily public records · 280 Days on market

Built 1887 2,548 sqft lot $25/sqft · 67% below area

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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 +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

great investment property to add to your portfolio, Buyer responsible for clean out once seller moves out with personal belongings and mckeesport occupancy permit is the responsibility of the buyer

Key facts

• 2,548 sq ft lot
• Built 1887
• Listed 280 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.8% vs local median 10.3% in McKeesport — 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 66/100 on livability (#1,089 in PA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D, crime F.
• Mckeesport Area SD (suburban): math 11% / reading 28% proficiency, ranked #499 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 113 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• This rent runs 41% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 280 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 280 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 1887 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 4.09% ✓
• Cap rate: 37.81%
• Cash-on-cash: 112.55%
• DSCR: 6.01
• GRM: 2.0

CMA / ARV

• ARV (median comp): $91,453
• List price: $29,900
• Delta: -67.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1707 Grandview Ave	0.10mi	2/1.0 (-1)	1,120 (-6%)	1mo	$110,000	$98	80
2817 Jenny Lind St	0.30mi	2/1.0 (-1)	1,232 (+4%)	2mo	$51,033	$41	74
2104 Calvin St	0.29mi	2/2.0 (-1)	1,200 (+1%)	5mo	$110,000	$92	72
2112 Dalton	0.37mi	3/1.0	1,122 (-6%)	3mo	$75,000	$67	70
3021 Myer Blvd	0.20mi	3/1.0	1,296 (+9%)	7mo	$118,000	$91	70
1310 Pirl St	0.40mi	3/1.0	1,270 (+7%)	7mo	$55,000	$43	64
2405 Harrison St	0.33mi	3/2.5	1,320 (+11%)	7mo	$21,000	$16	54
2510 Oak St	0.56mi	3/1.0	1,088 (-9%)	6mo	$19,000	$17	54
2613 Cleveland St	0.46mi	2/1.0 (-1)	1,328 (+12%)	1mo	$49,000	$37	54
473 Mccully St	0.74mi	3/1.5	1,260 (+6%)	3mo	$206,000	$163	51
3806 Sarah St	0.70mi	3/1.0	1,324 (+11%)	0mo	$129,900	$98	48
322 27th St	0.63mi	2/2.0 (-1)	1,312 (+10%)	6mo	$52,800	$40	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.40×
• Total profit: $45,168
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 13.39×
• Total profit: $103,739
• Equity at exit: $2,585

Cash invested: $8,372 (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 15132

• Home prices YoY: -32.9%
• Active inventory: 113
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,224 high
• Mortgage (P&I): −$157
• Tax from tax record: −$12 /mo · $148/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $785

Break-even live

Break-even rent $230

Max offer price $29,900

Occupancy floor 31%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3506 Mayfair St Unit B McKeesport, PA	2.0	1.0	948	$1,200	$1.27	43d	1	0.12mi
3710 Mayfair St McKeesport, PA	3.0	1.5	1314	$1,095	$0.83	2d	1	0.21mi
1506 Freemont St McKeesport, PA	3.0	2.0	1250	$1,295	$1.04	23d	1	0.30mi
2408 McCarrell St McKeesport, PA	4.0	1.0	1430	$1,195	$0.84	23d	1	0.30mi
1114-1116 Ohio St Unit 2R McKeesport, PA	2.0	1.0	878	$850	$0.97	16d	1	0.45mi
1217 Scott St McKeesport, PA	3.0	1.0	1500	$1,165	$0.78	43d	1	0.57mi
2918 Walnut St Apt 3 McKeesport, PA	2.0	1.0	800	$850	$1.06	43d	1	0.69mi
3211 Walnut St McKeesport, PA	4.0	1.0	1434	$1,500	$1.05	7d	1	0.71mi
311-313 24th St McKeesport, PA	2.0	1.0	950	$900	$0.95	43d	1	0.71mi
1108 Prescott St White Oak, PA	2.0	1.0	945	$1,200	$1.27	12d	1	0.80mi
1451 Jenny Lind St McKeesport, PA	3.0	1.5	1408	$1,150	$0.82	23d	1	1.05mi
2618 Poinsettia Dr White Oak, PA	4.0	1.0	1225	$1,599	$1.31	23d	1	1.13mi
152 Royal Oak Dr White Oak, PA	1.0–2.0	1.0–2.0	930	$1,445	$1.55	1d	9	1.29mi
604 Shaw Ave McKeesport, PA	2.0	1.0–1.5	800	$900	$1.12	12d	3	1.30mi
604 Shaw Ave Unit 101 McKeesport, PA	2.0	1.5	1050	$900	$0.86	14d	1	1.30mi
1735 Ohio Ave Unit 6 White Oak, PA	3.0	1.0	1034	$1,200	$1.16	43d	1	1.35mi

Listing history 15 events

1. 2026-06-18
   days on market $29,900 Active 280 DOM
2. 2026-06-17
   days on market $29,900 Active 279 DOM
3. 2026-06-16
   days on market $29,900 Active 278 DOM
4. 2026-06-15
   days on market $29,900 Active 277 DOM
5. 2026-06-13
   days on market $29,900 Active 275 DOM
6. 2026-06-13
   days on market $29,900 Active 274 DOM
7. 2026-06-09
   days on market $29,900 Active 271 DOM
8. 2026-06-08
   days on market $29,900 Active 270 DOM
9. 2026-06-07
   days on market $29,900 Active 269 DOM
10. 2026-06-03
    days on market $29,900 Active 265 DOM
11. 2026-06-02
    days on market $29,900 Active 264 DOM
12. 2026-06-01
    days on market $29,900 Active 263 DOM
13. 2026-05-31
    days on market $29,900 Active 262 DOM
14. 2025-09-11
    listed $29,900 Active 197-char remark

    Show marketing remark (197 chars)

    great investment property to add to your portfolio, Buyer responsible for clean out once seller moves out with personal belongings and mckeesport occupancy permit is the responsibility of the buyer

15. 1982-03-25
    soldstatus $23,500

ⓘ 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: $148 · $12/mo
• Projected year-2 tax: $310 · $26/mo
• Expected delta: +$162/yr (+$13/mo · 109.1%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,686
• − Mortgage interest: −$1,675
• − Property taxes: −$148
• − Insurance: −$150
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$870
• Taxable income: $9,494
• Est. tax owed @ 24.0%: −$2,278
• After-tax cash flow: $7,144/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: Mckeesport Area SD
• NCES district ID: 4214940
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $33,779
• Composite: 15.88/100
• National rank: #9257
• State rank: #499 of 539 in PA

Livability — McKeesport

• Score: 66/100
• State rank: #1089
• US rank: #12321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McKeesport, PA
• County: Allegheny County · 1,022,028 people
• City population: 25,010
• Metro: Pittsburgh, PA
• Population (ZIP): 18,898
• Household income: $35,397
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1239.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 50% Black 35% Two or more races 10% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 5% Serbian 2% Scotch-Irish 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -71.01%
• Current HPI: 145.195
• Rent YoY: —
• 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

+27.2% since first listed

2 events — show timeline

• 2025-09-11 Listed $29,900 West Penn MLS
• 1982-03-25 Sold (Public Records) $23,500 Public Records

Property tax history

-0.3%/yr

Latest (2026): $148 · +0.0% YoY. Source: county tax records.