125 Bellevue Ave

West View, PA 15229

$269,000D+

3 bd · 2.0 ba · 1,945 sqft · Built 1930 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,474/mo
• Mortgage (P&I): −$1,411
• Tax + insurance: −$353
• HOA: −$0
• Vac / Maint / Mgmt: −$520
• Net cashflow: $191/mo
• Annual: $2,291/yr
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• 1% rule: 0.92%
• Cash to close: $75,320

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $269k.
• At list price, monthly cash flow is $191 ($2k/yr) — positive. Per door: $95/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (8.0% below list).
• It's been on market 38 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $247k (8.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 92/100 on livability (#8 in PA, #32 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• North Hills SD (suburban): math 48% / reading 72% proficiency, ranked #70 of 539 in PA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: West View El Sch (math 42% / reading 72%, grade C+, #444 of 1,518 statewide, top 32%, 457 students, 36% FRL); North Hills Ms (math 37% / reading 70%, grade C+, #86 of 512 statewide, top 17%, 1,070 students, 28% FRL); North Hills Shs (math 71% / reading 75%, grade B+, #35 of 437 statewide, top 8%, 1,383 students, 24% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.7%/yr); 43 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 2 sale attempts since 2y 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.
• Cap rate 7.1% vs local median 3.8% in West View — 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.
• This rent runs 33% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1930 — 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.