3118-3120 Walnut Ave · Altoona, PA 16601

$30,000

2 bd · 1.0 ba · 1,128 sqft · SingleFamily · 21 Days on market

Built 1930 Poor condition 7,405 sqft lot $27/sqft · 75% below area ↓ 33% since listing

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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 +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

USE CAUTION WHEN VIEWING ATTENTION INVESTORS!! this home has newer roof windows and siding and sits on a large flat lot . The interior is almost completely gutted and new framing in some places for the rebuild . A great start for a flip!

Key facts

• New framing
• Newer roof
• Newer siding

Tags

• NEWER ROOF
• NEWER WINDOWS
• NEWER SIDING
• LARGE FLAT LOT
• NEW FRAMING

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; Two levels; Residential zoning; Fixer condition
• Construction: Vinyl siding
• Exterior features: Metal roof; Frontage 50 x 150

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating system
• Interior features: Insulated windows; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($887 rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.0% vs local median 5.8% in Altoona — 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 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Blair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $30k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — 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 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: 2.96% ✓
• Cap rate: 26.01%
• Cash-on-cash: 70.43%
• DSCR: 4.13
• GRM: 2.8

CMA / ARV

• ARV (median comp): $120,489
• List price: $30,000
• Delta: -75.10%
• 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
3118-3120 Walnut Ave	0.00mi	2/1.0	1,128 (0%)	1mo	$20,000	$18	99
887 Millville Rd	0.19mi	3/1.0 (+1)	1,150 (+2%)	2mo	$184,000	$160	81
915 Race St	0.12mi	3/1.0 (+1)	1,152 (+2%)	8mo	$165,000	$143	79
884 Millville Rd	0.20mi	3/1.0 (+1)	1,200 (+6%)	1mo	$75,000	$63	74
3111 W Chestnut Ave	0.23mi	2/1.0	1,064 (-6%)	10mo	$136,250	$128	72
2820 Walnut Ave	0.25mi	2/1.0	1,088 (-4%)	15mo	$139,900	$129	70
2610 Maple Ave	0.47mi	3/1.0 (+1)	1,168 (+4%)	3mo	$152,000	$130	65
893 Millville Rd	0.17mi	2/1.0	1,036 (-8%)	18mo	$135,000	$130	63
2802 Walnut Ave	0.29mi	3/1.0 (+1)	1,176 (+4%)	15mo	$102,000	$87	61
3717 Oak Ave	0.63mi	3/1.0 (+1)	1,160 (+3%)	0mo	$55,000	$47	60
2721 Walnut Ave	0.33mi	3/2.0 (+1)	1,218 (+8%)	10mo	$120,000	$99	54
2809 6th Ave	0.66mi	3/1.0 (+1)	1,260 (+12%)	11mo	$44,500	$35	36

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: 70.0%
• Equity multiple: 4.16×
• Total profit: $26,554
• Equity at exit: $4,473

10-year hold

• IRR: 74.0%
• Equity multiple: 8.57×
• Total profit: $63,613
• Equity at exit: $2,594

Cash invested: $8,400 (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 16601

• Home prices YoY: -24.9%
• Active inventory: 186
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $887 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $493

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 39%

Sensitivity live

Price	-10% $514	-5% $503	+0% $493	+5% $483	+10% $472
Rent	-10% $423	-5% $458	+0% $493	+5% $528	+10% $563
Rate	-1.0pp $508	-0.5pp $501	base $493	+0.5pp $485	+1.0pp $477

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3925 Burgoon Rd Altoona, PA	3.0	1.0	1500	$895	$0.60	44d	1	0.90mi
1489 Washington Ave Altoona, PA	3.0	1.5	1050	$850	$0.81	44d	1	1.23mi

Listing history 1 events

1. 2026-05-06
   listed $30,000 Active 239-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,638
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$851
• − Management: −$851
• − Depreciation: −$873
• Taxable income: $5,783
• Est. tax owed @ 24.0%: −$1,388
• After-tax cash flow: $4,529/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.

Condition & rehab AI · 5 photos

Poor 20/100 Gut rehab

This property requires extensive gutting and reconstruction, with major repairs needed to the exterior siding, roof, interior walls, flooring, systems, and landscaping. Significant value can be added through comprehensive renovations and improvements.

Repairs flagged

• Major Exterior siding — Severe damage to the exterior siding is visible.
• Major Roof — The roof appears to be in poor condition, with visible damage.
• Major Interior walls — The interior walls are gutted, indicating significant damage and the need for complete reconstruction.
• Major Flooring — The flooring is not visible, but the gutted interior suggests it may be in poor condition and in need of replacement.
• Major Systems — No visible systems, but the gutted interior suggests they may be in poor condition and in need of replacement.
• Major Landscaping — The landscaping appears unkempt, with debris and debris present in the yard, indicating a need for maintenance and improvement.

Value-add opportunities

• Both Exterior siding and roof repair/replacement — Repairing the exterior siding and roof will improve the home's curb appeal and increase its value for both resale and rental.
• Both Interior reconstruction and finishing — Reconstructing the interior and adding finishing touches will significantly improve the home's livability and increase its value for both resale and rental.
• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will enhance the home's overall appearance and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe damage to the exterior siding is visible.	Major	$15,000–50,000
Roof · The roof appears to be in poor condition, with visible damage.	Major	$15,000–50,000
Interior walls · The interior walls are gutted, indicating significant damage and the need for complete reconstruction.	Major	$15,000–50,000
Flooring · The flooring is not visible, but the gutted interior suggests it may be in poor condition and in need of replacement.	Major	$15,000–50,000
Systems · No visible systems, but the gutted interior suggests they may be in poor condition and in need of replacement.	Major	$15,000–50,000
Landscaping · The landscaping appears unkempt, with debris and debris present in the yard, indicating a need for maintenance and improvement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Exterior siding and roof repair/replacement — Repairing the exterior siding and roof will improve the home's curb appeal and increase its value for both resale and rental. ↑
• Both Interior reconstruction and finishing — Reconstructing the interior and adding finishing touches will significantly improve the home's livability and increase its value for both resale and rental. ↑
• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will enhance the home's overall appearance and increase its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Altoona Area SD
• NCES district ID: 4202340
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $38,465
• Composite: 30.85/100
• National rank: #6130
• State rank: #406 of 539 in PA

Livability — Altoona

• Score: 79/100
• State rank: #237
• US rank: #2060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, PA
• County: Blair County · 59,867 people
• City population: 59,867
• Metro: Altoona, PA
• Population (ZIP): 33,515
• Household income: $58,070
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 715.0

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.97%
• Current HPI: 183.9907
• Rent YoY: —
• Metro: Altoona, 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

-33.3% since first listed

3 events — show timeline

• 2026-05-29 Sold (MLS) $20,000 AHARMLS
• 2026-05-27 Pending — AHARMLS
• 2026-05-06 Listed $30,000 AHARMLS