17 Locust St

Etna, PA 15223

$309,000D-

4 bd · 4.0 ba · 3,147 sqft · Built 1900 · Other · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,154/mo
• Mortgage (P&I): −$1,620
• Tax + insurance: −$633
• HOA: −$0
• Vac / Maint / Mgmt: −$452
• Net cashflow: $-552/mo
• Annual: $-6,620/yr
• Cap rate: 4.15%
• Cash-on-cash: -7.65%
• DSCR: 0.66
• 1% rule: 0.70%
• Cash to close: $86,520

Investor read

• This is a 4-bed/4.0-bath other listed at $309k.
• At list price, monthly cash flow is $-552 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (31.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (30.3% below list).
• It's been on market 68 days — a 6% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (31.5% below list) — sets the bar for cash-flow.
• 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 81/100 on livability (#172 in PA, #1,441 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: employment C-, amenities D.
• Shaler Area SD (suburban): math 36% / reading 59% proficiency, ranked #208 of 539 in PA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shaler Area Hs (math 61% / reading 10%, grade F, #308 of 437 statewide, top 71%, 1,225 students, 36% FRL).
• Zoned-school proficiency averages 36% at this address vs 48% district-wide (-12 pts) — the specific schools serving this property underperform the Shaler Area SD average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 4 sale attempts since 23y 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.
• Current owner paid $225k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• This rent runs 42% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• 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?
• 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.