280 Fayette City Rd · Perry, PA 15473

$120,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 78 Days on market

Built 1850 3.95 ac lot $100/sqft · 25% below area Est $200k · 40% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.5/30.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.8/10.0

Listing remarks MLS

Incredible opportunity to build your dream home on this beautiful approximately 4-acre property with a cleared and ready-to-go homesite! A portion of the land has already been cleared and leveled, offering a ready-to-build homesite with scenic views and privacy. Property includes an existing structure, providing an opportunity for renovation or a fresh start with new construction. Utilities are available, adding convenience and value for future development. Versatile property offering a wide range of potential uses, including outdoor or recreational opportunities, or other permitted uses per local zoning regulations. Ideal for builders, investors, or buyers looking to create a custom dream home in a peaceful private setting.

Key facts

• Cleared homesite
• Utilities available
• 4 acre property

Tags

• 4 ACRE PROPERTY
• CLEARED HOMESITE
• EXISTING STRUCTURE
• UTILITIES AVAILABLE
• PRIVATE SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-203 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (29.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (33.3% below list).
• Recommended offer: $80k (33.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Frazier SD (rural): math 25% / reading 52% proficiency, ranked #371 of 539 in PA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 201 units permitted in Fayette County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Fayette County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $31k; list at $120k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000 (33.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.67% ✗
• Cap rate: 4.26%
• Cash-on-cash: -7.24%
• DSCR: 0.68
• GRM: 12.5

CMA / ARV

• ARV (median comp): $200,073
• List price: $120,000
• Delta: -40.02%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.56×
• Total profit: $52,451
• Equity at exit: $108,106

10-year hold

• IRR: 17.7%
• Equity multiple: 5.90×
• Total profit: $164,651
• Equity at exit: $233,134

Cash invested: $33,600 (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 15473

• Home prices YoY: 12.1%
• Active inventory: 8
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $-203

Break-even live

Break-even rent $1,057

Max offer price $84,166

Occupancy floor —

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Grant St Perryopolis, PA	2.0	1.0	1016	$800	$0.79	1d	1	1.33mi

Listing history 16 events

1. 2026-06-18
   days on market $120,000 Active 78 DOM
2. 2026-06-17
   days on market $120,000 Active 77 DOM
3. 2026-06-16
   days on market $120,000 Active 76 DOM
4. 2026-06-15
   days on market $120,000 Active 75 DOM
5. 2026-06-13
   days on market $120,000 Active 73 DOM
6. 2026-06-12
   days on market $120,000 Active 72 DOM
7. 2026-06-09
   days on market $120,000 Active 69 DOM
8. 2026-06-08
   days on market $120,000 Active 68 DOM
9. 2026-06-08
   days on market $120,000 Active 67 DOM
10. 2026-06-07
    days on market $120,000 Active 66 DOM
11. 2026-06-04
    days on market $120,000 Active 63 DOM
12. 2026-06-02
    days on market $120,000 Active 62 DOM
13. 2026-06-01
    days on market $120,000 Active 61 DOM
14. 2026-05-31
    days on market $120,000 Active 60 DOM
15. 2026-03-29
    listed $120,000 Active 734-char remark

    Show marketing remark (734 chars)

    Incredible opportunity to build your dream home on this beautiful approximately 4-acre property with a cleared and ready-to-go homesite! A portion of the land has already been cleared and leveled, offering a ready-to-build homesite with scenic views and privacy. Property includes an existing structure, providing an opportunity for renovation or a fresh start with new construction. Utilities are available, adding convenience and value for future development. Versatile property offering a wide range of potential uses, including outdoor or recreational opportunities, or other permitted uses per local zoning regulations. Ideal for builders, investors, or buyers looking to create a custom dream home in a peaceful private setting.

16. 2012-12-04
    soldstatus $30,917

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,867 · $156/mo
• Projected year-2 tax: $1,881 · $157/mo
• Expected delta: +$15/yr (+$1/mo · 0.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥96°F today · 15 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: $9,600
• − Mortgage interest: −$6,722
• − Property taxes: −$1,867
• − Insurance: −$600
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$3,491
• Taxable loss: −$4,615
• Est. tax savings @ 24.0%: +$1,108
• After-tax cash flow: $-1,326/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.

Schools (NCES district)

• District: Frazier SD
• NCES district ID: 4210350
• Math proficiency: 25% ▼ -16.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $46,463
• Composite: 32.8/100
• National rank: #5628
• State rank: #371 of 539 in PA

Livability — Perry

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 3,328

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 9% Scotch-Irish 1% Serbian 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▲ 25.75%
• Current HPI: 239.1416
• 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

+288.1% since first listed

2 events — show timeline

• 2026-03-29 Listed $120,000 West Penn MLS
• 2012-12-04 Sold (Public Records) $30,917 Public Records

Property tax history

+5.1%/yr

Latest (2026): $1,867 · +3.8% YoY. Source: county tax records.