613 Duquesne Ave

Canonsburg, PA 15317

$42,000B

2 bd · 2.0 ba · 1,424 sqft · Built 1892 · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,718/mo
• Mortgage (P&I): −$220
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $978/mo
• Annual: $11,738/yr
• Cap rate: 34.24%
• Cash-on-cash: 99.82%
• DSCR: 5.44
• 1% rule: 4.09%
• Cash to close: $11,760

Investor read

• This is a 2-bed/2.0-bath single-family listed at $42k.
• At list price, monthly cash flow is $978 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• It's been on market 30 days — a 2% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k 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.
• Watch-outs: property tax is 4.0% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-2.3%/yr); 195 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $6k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 34.2% 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

• Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.