353 Euclid Ave

Canonsburg, PA 15317

$174,900B+

5 bd · 2.0 ba · — sqft · Built 1930 · SingleFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,639/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$554
• Net cashflow: $876/mo
• Annual: $10,511/yr
• Cap rate: 12.30%
• Cash-on-cash: 21.46%
• DSCR: 1.96
• 1% rule: 1.51%
• Cash to close: $48,972

Investor read

• This is a 5-bed/2.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $876 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• It's been on market 88 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#127 in PA, #997 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F.
• Canon-Mcmillan SD (suburban): math 49% / reading 72% proficiency, ranked #66 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Canonsburg Ms (math 37% / reading 71%, grade B-, #82 of 512 statewide, top 16%, 777 students, 26% FRL); Canon-Mcmillan Shs (math 83%, 1,655 students, 26% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-2.3%/yr); 196 active listings in the ZIP; solid renter incomes; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $50k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $175k implies a 143% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 12.3% vs local median 4.1% in Canonsburg — 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.

Questions for listing agent

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.