854 Bocktown Rd

South Heights, PA 15046

$95,000C+

2 bd · 1.0 ba · 624 sqft · Built 1941 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $934/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$281
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $-41/mo
• Annual: $-496/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• 1% rule: 0.98%
• Cash to close: $26,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $-41 ($-496/yr) — negative.
• To cash-flow at today's rent, offer at most $88k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (1.7% below list).
• It's been on market 55 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (7.7% below list) — sets the bar for cash-flow.
• In year one you build about $10k of equity ($657 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 77/100 on livability (#368 in PA, #3,206 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, health & safety F.
• Moon Area SD (suburban): math 50% / reading 70% proficiency, ranked #62 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Bon Meade El Sch (math 63% / reading 77%, grade A-, #147 of 1,518 statewide, top 10%, 594 students, 16% FRL); Moon Area Lower Ms (math 41% / reading 71%, grade B-, #69 of 512 statewide, top 14%, 623 students, 30% FRL); Moon Shs (math 77% / reading 24%, grade D+, #125 of 437 statewide, top 30%, 1,218 students, 20% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 6 sale attempts since 23y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 3.2% in South Heights — 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

• 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?
• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.