400 5th St · Charleroi, PA 15022

$199,900

None bd · None ba · — sqft · MultiFamily · 34 Days on market

Built 1927 Poor condition 4,094 sqft lot

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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
• Appreciation +4.1/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Great opportunity to acquire a true piece of local history with immense redevelopment potential. This massive brick structure offers approximately 12,000–14,000 square feet and was previously configured for residential apartment use, along with two expansive spaces seemingly a former banquet hall in the basement and a large social hall occupying the top floor. The Building makes an ideal candidate for investors, developers, or visionary owner-operators seeking their next value-add project. The property seems to be previously built out for eight 2-bedroom, 1-bath apartments. The building’s solid brick construction, historic character, and flexible layout create endless possibilit

Key facts

• Mixed-use conversion
• Brick structure
• Flexible layout

Tags

• BRICK STRUCTURE
• FORMER BANQUET HALL
• LARGE SOCIAL HALL
• HISTORIC CHARACTER
• FLEXIBLE LAYOUT
• MIXED-USE CONVERSION

Property features AI

Finance

• Financial info: Assessed value listed; Annual tax amount listed

Exterior

• Parking: On-street parking
• Utilities: Electricity available; Natural gas available; Water available; Sewer available
• Home design: Property facing and stories not specified
• Construction: Brick exterior
• Exterior features: Brick construction; Zoned commercial

Interior

• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a multifamily listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.8% vs local median 15.3% in Charleroi — 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 76/100 on livability (#382 in PA, #3,416 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, employment F.
• Charleroi SD (rural): math 20% / reading 51% proficiency, ranked #421 of 539 in PA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.46% ✓
• Cap rate: 30.77%
• Cash-on-cash: 87.40%
• DSCR: 4.89
• GRM: 2.4

CMA / ARV

• ARV (median comp): $58,476
• List price: $199,900
• Delta: 241.85%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
526 Fallowfield	0.09mi	8/7.0	—	2mo	$382,500	—	82
409 5th St	0.03mi	4/2.0	—	8mo	$55,000	—	79
404 5th St	0.01mi	4/2.0	—	11mo	$18,500	—	78
206 Lookout Ave	0.25mi	5/3.0	—	2mo	$35,000	—	74
429 Mckean Ave	0.10mi	5/6.0	—	15mo	$199,900	—	70
503 Meadow Ave	0.20mi	4/2.0	—	18mo	$48,000	—	63
15-16 3rd St	0.28mi	4/2.0	—	18mo	$96,000	—	59
209 Luella Ave	0.27mi	4/2.0	—	21mo	$27,600	—	58
219 Meadow Ave	0.28mi	5/3.0	—	24mo	$75,000	—	55

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

Projected returns pro-forma

-1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 88.7%
• Equity multiple: 5.24×
• Total profit: $237,331
• Equity at exit: $40,418

10-year hold

• IRR: 91.0%
• Equity multiple: 10.83×
• Total profit: $550,395
• Equity at exit: $36,073

Cash invested: $55,972 (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 15022

• Home prices YoY: -1.0%
• Active inventory: 87
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $6,909 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,451
• Net cashflow: $4,077

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 36%

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$6,912
Total (8 units)			$6,909

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 5th St Apt 203 Charleroi, PA	1.0	1.0	650	$695	$1.07	1d	1	0.07mi
15 3rd St Charleroi, PA	2.0	1.0	—	$795	—	1d	1	0.27mi
16 3rd St Charleroi, PA	2.0	1.0	—	$795	—	1d	1	0.27mi
1022 McKean Ave Charleroi, PA	3.0	3.0	1344	$1,450	$1.08	1d	1	0.51mi
900 11th St Charleroi, PA	2.0	1.0	—	$1,100	—	1d	1	0.57mi
1204 Lower Meadow Ave Charleroi, PA	3.0	1.0	1024	$1,150	$1.12	1d	1	0.61mi
1221 Graham Ave Monessen, PA	3.0	1.0	960	$1,300	$1.35	1d	1	0.78mi
619 Conrad Ave Unit 2 Charleroi, PA	1.0	1.0	—	$750	—	1d	1	0.97mi
925 Leeds Ave Monessen, PA	2.0	1.0	1000	$700	$0.70	14d	1	1.14mi
925 Leeds Ave Monessen, PA	2.0	1.0	1000	$700	$0.70	1d	1	1.14mi
1136 Reservoir Ave Monessen, PA	3.0	2.0	1550	$650	$0.42	1d	1	1.31mi
522 Division St Monessen, PA	2.0	1.0	2547	$795	$0.31	1d	1	1.40mi

Listing history 14 events

1. 2026-06-18
   days on market $199,900 Active 34 DOM
2. 2026-06-17
   days on market $199,900 Active 33 DOM
3. 2026-06-16
   days on market $199,900 Active 32 DOM
4. 2026-06-15
   days on market $199,900 Active 31 DOM
5. 2026-06-13
   days on market $199,900 Active 29 DOM
6. 2026-06-09
   days on market $199,900 Active 25 DOM
7. 2026-06-08
   days on market $199,900 Active 24 DOM
8. 2026-06-07
   days on market $199,900 Active 23 DOM
9. 2026-06-05
   days on market $199,900 Active 20 DOM
10. 2026-06-03
    days on market $199,900 Active 19 DOM
11. 2026-06-02
    days on market $199,900 Active 18 DOM
12. 2026-06-01
    days on market $199,900 Active 17 DOM
13. 2026-05-31
    days on market $199,900 Active 16 DOM
14. 2026-05-13
    listed $199,900 Active 814-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 8 d/yr ≥97°F today · 21 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: $82,908
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$6,633
• − Management: −$6,633
• − Depreciation: −$5,815
• Taxable income: $48,632
• Est. tax owed @ 24.0%: −$11,672
• After-tax cash flow: $37,248/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 · 12 photos

Poor 20/100 Extensive rehab

This multi-family building requires extensive repairs and renovations to restore its structural integrity and improve its appearance, making it a significant value-add project for investors and developers.

Repairs flagged

• Major roof — Severe damage and missing shingles
• Major exterior — Boarded-up windows and brick facade
• Major interior — Exposed beams and debris
• Major flooring — Damaged and uneven floors
• Major systems — Exposed electrical and plumbing systems

Value-add opportunities

• Both extensive exterior and interior repairs — Restores the building's structural integrity and appearance
• Both roof replacement — Prevents water damage and improves the building's overall condition
• Both electrical and plumbing upgrades — Ensures safety and functionality
• Both flooring replacement — Improves the building's usability and appearance
• Both interior paint and repairs — Enhances the building's appearance and usability

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Severe damage and missing shingles	Major	$15,000–50,000
exterior · Boarded-up windows and brick facade	Major	$15,000–50,000
interior · Exposed beams and debris	Major	$15,000–50,000
flooring · Damaged and uneven floors	Major	$15,000–50,000
systems · Exposed electrical and plumbing systems	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both extensive exterior and interior repairs — Restores the building's structural integrity and appearance ↑
• Both roof replacement — Prevents water damage and improves the building's overall condition ↑
• Both electrical and plumbing upgrades — Ensures safety and functionality ↑
• Both flooring replacement — Improves the building's usability and appearance ↑
• Both interior paint and repairs — Enhances the building's appearance and usability ↑

ⓘ 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: Charleroi SD
• NCES district ID: 4205640
• Math proficiency: 20% ▼ -19.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $40,410
• Composite: 29.72/100
• National rank: #6450
• State rank: #421 of 539 in PA

Livability — Charleroi

• Score: 76/100
• State rank: #382
• US rank: #3416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleroi, PA
• Population (ZIP): 10,044

Population outlook (Washington County) Hauer SSP2

• Today (2025): 208,060 people
• By 2030: 207,168 · -0.4%
• By 2040: 202,738 · -2.6%
• By 2050: 195,269 · -6.1%
• By 2075: 175,588 · -15.6%
• By 2100: 145,827 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Black 6%
• Common ancestry: Romanian 8% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+25.5) · D 36.9% · R 62.4%
• 2008→2024 swing: -20.8pp toward R · 2008: -4.7pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+22.8 2016: R+25.3 2012: R+13.3 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.83%
• Current HPI: 174.218
• 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

1 event — show timeline

• 2026-05-13 Listed $199,900 West Penn MLS