405 1st St · Franklin, PA 15431

$29,000

4 bd · 2.0 ba · 1,972 sqft · MultiFamily public records · 216 Days on market

Built 1920 0.72 ac lot $15/sqft · 85% below area

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Huge home on almost an Acre Lot! Four bedroom and 2 bath home with huge side and back yard. Country living in a peaceful setting while still close to all modern necessities.

Key facts

• Huge back yard
• Acre lot
• Huge side yard

Tags

• ACRE LOT
• HUGE SIDE YARD
• HUGE BACK YARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $29k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.4% vs local median 4.8% in Franklin — 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 69/100 on livability (#812 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools D, employment D.
• Uniontown Area SD (suburban): math 27% / reading 49% proficiency, ranked #392 of 539 in PA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $737 of equity ($200 loan paydown + $537 appreciation (1.9% local appreciation)).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% 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 216 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 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 1920 — 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. 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.
7. 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.
8. 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: 4.52% ✓
• Cap rate: 41.40%
• Cash-on-cash: 125.39%
• DSCR: 6.58
• GRM: 1.8

CMA / ARV

• ARV (median comp): $198,845
• List price: $29,000
• Delta: -85.42%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

1.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.87×
• Total profit: $55,824
• Equity at exit: $11,209

10-year hold

• IRR: —
• Equity multiple: 16.43×
• Total profit: $125,257
• Equity at exit: $15,967

Cash invested: $8,120 (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 15431

• Home prices YoY: 1.2%
• Active inventory: 11
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,309 medium
• Mortgage (P&I): −$152
• Tax from tax record: −$22 /mo · $261/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $848

Break-even live

Break-even rent $235

Max offer price $29,000

Occupancy floor 30%

Sensitivity live

Price	-10% $865	-5% $857	+0% $848	+5% $840	+10% $832
Rent	-10% $745	-5% $797	+0% $848	+5% $900	+10% $952
Rate	-1.0pp $863	-0.5pp $856	base $848	+0.5pp $841	+1.0pp $833

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $29,000 Active 216 DOM
2. 2026-06-17
   days on market $29,000 Active 215 DOM
3. 2026-06-16
   days on market $29,000 Active 214 DOM
4. 2026-06-15
   days on market $29,000 Active 213 DOM
5. 2026-06-13
   days on market $29,000 Active 211 DOM
6. 2026-06-12
   days on market $29,000 Active 210 DOM
7. 2026-06-09
   days on market $29,000 Active 207 DOM
8. 2026-06-08
   days on market $29,000 Active 206 DOM
9. 2026-06-08
   days on market $29,000 Active 205 DOM
10. 2026-06-07
    days on market $29,000 Active 204 DOM
11. 2026-06-04
    days on market $29,000 Active 201 DOM
12. 2026-06-02
    days on market $29,000 Active 200 DOM
13. 2026-06-01
    days on market $29,000 Active 199 DOM
14. 2026-05-31
    days on market $29,000 Active 198 DOM
15. 2025-11-14
    listed $29,000 Active 174-char remark

    Show marketing remark (174 chars)

    Huge home on almost an Acre Lot! Four bedroom and 2 bath home with huge side and back yard. Country living in a peaceful setting while still close to all modern necessities.

16. 2006-05-16
    soldstatus $22,492

ⓘ 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: $261 · $22/mo
• Projected year-2 tax: $360 · $30/mo
• Expected delta: +$98/yr (+$8/mo · 37.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,713
• − Mortgage interest: −$1,624
• − Property taxes: −$261
• − Insurance: −$145
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$844
• Taxable income: $10,324
• Est. tax owed @ 24.0%: −$2,478
• After-tax cash flow: $7,704/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: Uniontown Area SD
• NCES district ID: 4224150
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $36,744
• Composite: 31.48/100
• National rank: #5977
• State rank: #392 of 539 in PA

Livability — Franklin

• Score: 69/100
• State rank: #812
• US rank: #8260

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,328

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 127,561 people
• By 2030: 123,206 · -3.4%
• By 2040: 113,232 · -11.2%
• By 2050: 103,468 · -18.9%
• By 2075: 83,185 · -34.8%
• By 2100: 62,384 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Romanian 7% Iranian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+37.9) · D 30.8% · R 68.7%
• 2008→2024 swing: -37.5pp toward R · 2008: -0.4pp · 2024: -37.9pp
• All cycles: 2024: R+37.9 2020: R+33.5 2016: R+31.0 2012: R+8.3 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.85%
• Current HPI: 153.7077
• Rent YoY: —
• Metro: —
• 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

+28.9% since first listed

2 events — show timeline

• 2025-11-14 Listed $29,000 West Penn MLS
• 2006-05-16 Sold (Public Records) $22,492 Public Records

Property tax history

-9.5%/yr

Latest (2026): $261 · -75.6% YoY. Source: county tax records.