114 South St · Butler, PA 16001

$89,900

3 bd · 2.0 ba · 1,673 sqft · MultiFamily public records · 11 Days on market

Built 1900 2,178 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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

Welcome to this perfect investment or home! The first floor unit is 1 bedroom with an office, kitchen, and redone bath. The front and rear porch are for the first floor tenant. The second floor unit is a spacious 2 bedroom with upgraded kitchen and bath. This unit has its own entry and side yard. Separate utilities for gas, water and electric. Add this to your portfolio today or call this place home.

Key facts

• 2,178 sq ft lot
• Built 1900
• Listed 11 days

Property features AI

Finance

• Financial info: Annual taxes reported

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story property; Asphalt roof; Frame construction
• Construction: Built with frame construction; Asphalt roof
• Exterior features: Small lot (approximately 0.05 acres)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating
• Interior features: Resale condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 11.8% vs local median 3.8% in Butler — 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 71/100 on livability (#705 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A-; Watch: crime D-, amenities F, commute F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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 $60k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.47% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.59%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.74×
• Total profit: $18,595
• Equity at exit: $13,404

10-year hold

• IRR: 29.1%
• Equity multiple: 4.25×
• Total profit: $81,710
• Equity at exit: $7,773

Cash invested: $25,172 (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 16001

• Home prices YoY: -31.7%
• Rents YoY: 20.4%
• Active inventory: 206
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$122 /mo · $1,463/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $411

Break-even live

Break-even rent $798

Max offer price $89,900

Occupancy floor 64%

Sensitivity live

Price	-10% $462	-5% $436	+0% $411	+5% $385	+10% $360
Rent	-10% $307	-5% $359	+0% $411	+5% $463	+10% $515
Rate	-1.0pp $456	-0.5pp $434	base $411	+0.5pp $388	+1.0pp $364

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
415 Brown Ave Butler, PA	3.0	2.5	1640	$1,500	$0.91	13d	1	0.28mi
208 E Walnut St Butler, PA	3.0	1.5	1297	$1,050	$0.81	24d	1	0.98mi
530 N Main St Butler, PA	2.0	2.0	1052	$1,088	$1.03	2d	2	1.30mi

Listing history 9 events

1. 2026-06-18
   days on market $89,900 Active 11 DOM
2. 2026-06-17
   days on market $89,900 Active 10 DOM
3. 2026-06-16
   days on market $89,900 Active 9 DOM
4. 2026-06-15
   days on market $89,900 Active 8 DOM
5. 2026-06-13
   days on market $89,900 Active 6 DOM
6. 2026-06-13
   days on market $89,900 Active 5 DOM
7. 2026-06-09
   days on market $89,900 Active 2 DOM
8. 2026-06-08
   remarks 693-char remark
9. 2026-06-08
   listed $89,900 Active 1 DOM

ⓘ 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: $1,463 · $122/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,823
• − Mortgage interest: −$5,036
• − Property taxes: −$1,463
• − Insurance: −$450
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$2,615
• Taxable income: $3,728
• Est. tax owed @ 24.0%: −$895
• After-tax cash flow: $4,036/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: Butler Area SD
• NCES district ID: 4204590
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $49,348
• Composite: 42.65/100
• National rank: #3180
• State rank: #181 of 539 in PA

Livability — Butler

• Score: 71/100
• State rank: #705
• US rank: #6951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler, PA
• County: Butler County · 73,107 people
• City population: 39,234
• Metro: Pittsburgh, PA
• Population (ZIP): 39,234
• Household income: $63,635
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1441.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 190,777 people
• By 2030: 191,476 · +0.4%
• By 2040: 189,474 · -0.7%
• By 2050: 182,050 · -4.6%
• By 2075: 159,526 · -16.4%
• By 2100: 129,028 · -32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+32.2) · D 33.5% · R 65.7%
• 2008→2024 swing: -4.8pp toward R · 2008: -27.4pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+32.5 2016: R+37.5 2012: R+34.9 2008: R+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.40%
• Current HPI: 222.4445
• Rent YoY: ▲ 20.36%
• Metro: Pittsburgh, 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

+63.8% since first listed

18 events — show timeline

• 2026-06-07 Listed $89,900 West Penn MLS
• 2020-11-20 Sold (Public Records) $58,000 Public Records
• 2020-11-20 Sold (Public Records) $60,000 Public Records
• 2019-01-15 Delisted — West Penn MLS
• 2018-05-11 Price Changed $65,000 West Penn MLS
• 2018-01-16 Listed $69,900 West Penn MLS
• 2018-01-15 Listed $69,900 West Penn MLS
• 2018-01-14 Delisted — West Penn MLS
• 2017-05-17 Sold (Public Records) $53,000 Public Records
• 2017-02-24 Delisted — West Penn MLS
• 2016-09-21 Price Changed $59,900 West Penn MLS
• 2016-09-20 Price Changed $63,400 West Penn MLS
• 2016-08-26 Listed $64,900 West Penn MLS
• 2016-08-23 Delisted — West Penn MLS
• 2016-05-22 Price Changed $64,900 West Penn MLS
• 2016-03-25 Listed $69,900 West Penn MLS
• 2004-04-27 Sold (MLS) $49,000 West Penn MLS
• 2004-03-12 Listed $54,900 West Penn MLS

Property tax history

+0.8%/yr

Latest (2026): $1,463 · -6.3% YoY. Source: county tax records.