733 Speer St

North Belle Vernon, PA 15012

$220,000D

4 bd · 2.0 ba · 2,040 sqft · Built 1900 · Other · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,526/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$284
• HOA: −$0
• Vac / Maint / Mgmt: −$320
• Net cashflow: $-232/mo
• Annual: $-2,782/yr
• Cap rate: 5.03%
• Cash-on-cash: -4.52%
• DSCR: 0.80
• 1% rule: 0.69%
• Cash to close: $61,600

Investor read

• This is a 4-bed/2.0-bath other listed at $220k.
• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (18.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (30.6% below list).
• It's been on market 20 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (30.6% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Location reads 78/100 on livability (#309 in PA, #2,741 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute D-.
• Belle Vernon Area SD (suburban): math 34% / reading 56% proficiency, ranked #267 of 539 in PA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rostraver El Sch (math 37% / reading 57%, grade D-, #737 of 1,518 statewide, top 52%, 646 students, 45% FRL); Belle Vernon Area Ms (math 12% / reading 52%, grade F, #362 of 512 statewide, top 71%, 334 students, 46% FRL); Belle Vernon Area Hs (math 57%, 752 students, 36% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 95 active listings in the ZIP; 415 units permitted in Westmoreland County in 2024 (10 in 5+ unit buildings).
• Westmoreland County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.