312 Washington Ave · Connellsville, PA 15425

$129,500

4 bd · 2.0 ba · — sqft · MultiFamily · 257 Days on market

Built 1925 Fair condition 8,890 sqft lot

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Why this score? — see what drove the C+ 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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Charming Duplex – 2 Bed, 1 Bath on Each Side – Great Location! This well-maintained duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Beautiful hardwood floors run throughout both sides, creating a warm and inviting feel. Each unit also includes access to a shared attic space—perfect for extra storage or easily convertible into a third bedroom. Enjoy the outdoors in the nicely sized backyard, ideal for relaxing or entertaining. Located just a short walk from local parks, this property combines comfort, convenience, and potential. Whether you're looking to invest or live in one unit while renting the other, this duplex is a fantastic opportunity!

Key facts

• Shared attic space
• Hardwood floors
• 8,890 sq ft lot

Tags

• HARDWOOD FLOORS
• SHARED ATTIC SPACE
• NICELY SIZED BACKYARD
• SHORT WALK FROM LOCAL PARKS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive. Per door: $201/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 6.5% in Connellsville — 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 72/100 on livability (#602 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D+, commute D+, crime D-.
• Connellsville Area SD (rural): math 23% / reading 39% proficiency, ranked #440 of 539 in PA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Fayette County population projected at -19% 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.27% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $3,050,796
• List price: $129,500
• Delta: -95.76%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1146/1146 1/2 Race St	0.43mi	4/2.0	—	7mo	$118,000	—	62
504-506 Davidson Ave	0.35mi	4/2.0	—	19mo	$55,000	—	56
116 Prospect St	0.40mi	5/3.0 (+1)	—	16mo	$123,500	—	46

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: 3.3%
• Equity multiple: 1.13×
• Total profit: $4,659
• Equity at exit: $19,309

10-year hold

• IRR: 12.9%
• Equity multiple: 2.02×
• Total profit: $37,145
• Equity at exit: $11,197

Cash invested: $36,260 (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 15425

• Home prices YoY: -15.9%
• Active inventory: 67
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,642 medium
• Mortgage (P&I): −$679
• Tax est. 1.5%: −$162 /mo · $1,942/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $402

Break-even live

Break-even rent $1,133

Max offer price $129,500

Occupancy floor 70%

Sensitivity live

Price	-10% $492	-5% $447	+0% $402	+5% $357	+10% $313
Rent	-10% $273	-5% $337	+0% $402	+5% $467	+10% $532
Rate	-1.0pp $467	-0.5pp $435	base $402	+0.5pp $369	+1.0pp $335

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,642
Total (2 units)			$1,642

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $129,500 Active 257 DOM
2. 2026-06-18
   days on market $129,500 Active 255 DOM
3. 2026-06-17
   days on market $129,500 Active 254 DOM
4. 2026-06-16
   days on market $129,500 Active 253 DOM
5. 2026-06-15
   days on market $129,500 Active 252 DOM
6. 2026-06-13
   days on market $129,500 Active 250 DOM
7. 2026-06-12
   days on market $129,500 Active 249 DOM
8. 2026-06-09
   days on market $129,500 Active 246 DOM
9. 2026-06-08
   days on market $129,500 Active 245 DOM
10. 2026-06-08
    days on market $129,500 Active 244 DOM
11. 2026-06-07
    days on market $129,500 Active 243 DOM
12. 2026-06-04
    days on market $129,500 Active 240 DOM
13. 2026-06-02
    days on market $129,500 Active 239 DOM
14. 2026-06-01
    days on market $129,500 Active 238 DOM
15. 2026-05-31
    days on market $129,500 Active 237 DOM
16. 2025-10-06
    listed $129,500 Active 706-char remark

    Show marketing remark (706 chars)

    Charming Duplex – 2 Bed, 1 Bath on Each Side – Great Location! This well-maintained duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Beautiful hardwood floors run throughout both sides, creating a warm and inviting feel. Each unit also includes access to a shared attic space—perfect for extra storage or easily convertible into a third bedroom. Enjoy the outdoors in the nicely sized backyard, ideal for relaxing or entertaining. Located just a short walk from local parks, this property combines comfort, convenience, and potential. Whether you're looking to invest or live in one unit while renting the other, this duplex is a fantastic opportunity!

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥92°F today · 20 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: $19,704
• − Mortgage interest: −$7,254
• − Property taxes: −$1,942
• − Insurance: −$648
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$3,767
• Taxable income: $2,940
• Est. tax owed @ 24.0%: −$706
• After-tax cash flow: $4,121/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

Fair 45/100 Moderate rehab

This two-unit duplex requires moderate renovations to update the kitchens and bathrooms, and improve the landscaping. The property has good potential for increased value with these updates.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Minor landscaping — overgrown lawn

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathrooms will attract more buyers
• Both landscaping and curb appeal — improving the exterior will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
landscaping · overgrown lawn	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathrooms will attract more buyers ↑
• Both landscaping and curb appeal — improving the exterior will increase both resale and rental value ↑

ⓘ 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: Connellsville Area SD
• NCES district ID: 4206660
• Math proficiency: 23% ▼ -15.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $39,315
• Composite: 25.95/100
• National rank: #7333
• State rank: #440 of 539 in PA

Livability — Connellsville

• Score: 72/100
• State rank: #602
• US rank: #5763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Connellsville, PA
• Population (ZIP): 17,752

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 127,561 people
• By 2030: 123,206 · -3.4%
• By 2040: 113,232 · -11.2%
• By 2050: 103,468 · -18.9%
• By 2075: 83,185 · -34.8%
• By 2100: 62,384 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Black 1%
• Common ancestry: Romanian 7% Iranian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+37.9) · D 30.8% · R 68.7%
• 2008→2024 swing: -37.5pp toward R · 2008: -0.4pp · 2024: -37.9pp
• All cycles: 2024: R+37.9 2020: R+33.5 2016: R+31.0 2012: R+8.3 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.63%
• Current HPI: 193.6086
• 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

• 2025-10-06 Listed $129,500 West Penn MLS