329 N 5th Ave · Altoona, PA 16601

$39,900

None bd · None ba · 2,913 sqft · MultiFamily · 140 Days on market

Built 1950 Poor condition 4,791 sqft lot $14/sqft · 53% below area ↓ 20% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This large property on corner lot was previously used as a bar on first floor, and 2nd and 3rd are setup as possible residences. There is 5 parking spaces in rear of property. New electric service and panels in 2022 - 200amps on 1st floor, 150 amps on 2nd floor, 150amps on 3rd floor. Separate entrances to each floor offers lots of options! The building is much larger than it appears. The electric is on to the property but some lights in residential area not installed please take a flashlight. Property being sold in As-Is condition seller to make no repairs. Gas and water/sewe have not been on in seller's name and will not be turn on prior to closing. Contract must reflect. Call listing agent for more information

Key facts

• New electric service
• 5 parking spaces
• Separate entrances

Tags

• CORNER LOT
• 5 PARKING SPACES
• NEW ELECTRIC SERVICE
• SEPARATE ENTRANCES

What this means for you Summary

Snapshot

• This is a multifamily listed at $40k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 76.7% vs local median 5.8% in Altoona — 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 79/100 on livability (#237 in PA, #2,060 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Altoona Area SD (urban): math 30% / reading 44% proficiency, ranked #406 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 99 units permitted in Blair County in 2024 (0 in 5+ unit buildings).
• At $3,313/mo this rent would consume 68% of the median local household income ($58k/yr) (locally 715% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Blair County population projected at -18% 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 8.30% ✓
• Cap rate: 76.71%
• Cash-on-cash: 251.51%
• DSCR: 12.19
• GRM: 1.0

CMA / ARV

• ARV (median comp): $84,332
• List price: $39,900
• Delta: -52.69%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 N 6th Ave	0.19mi	—/2.0	2,626 (-10%)	3mo	$60,000	$23	72
520 N 7th Ave	0.18mi	—/2.0	2,612 (-10%)	12mo	$158,000	$60	65
211-213 12th Street St	0.42mi	—/3.0	2,987 (+2%)	16mo	$97,500	$33	63
617 N 2nd St	0.20mi	—/4.0	2,592 (-11%)	18mo	$130,000	$50	57

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: —
• Equity multiple: 13.77×
• Total profit: $142,718
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 29.33×
• Total profit: $316,512
• Equity at exit: $3,450

Cash invested: $11,172 (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 16601

• Home prices YoY: -24.9%
• Active inventory: 186
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $3,313 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $2,342

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 24%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,312
Total (3 units)			$3,313

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $39,900 Active 140 DOM
2. 2026-06-18
   days on market $39,900 Active 139 DOM
3. 2026-06-17
   days on market $39,900 Active 138 DOM
4. 2026-06-16
   days on market $39,900 Active 137 DOM
5. 2026-06-15
   days on market $39,900 Active 136 DOM
6. 2026-06-14
   days on market $39,900 Active 134 DOM
7. 2026-06-13
   days on market $39,900 Active 133 DOM
8. 2026-06-10
   days on market $39,900 Active 131 DOM
9. 2026-06-09
   days on market $39,900 Active 130 DOM
10. 2026-06-08
    days on market $39,900 Active 129 DOM
11. 2026-06-07
    days on market $39,900 Active 128 DOM
12. 2026-06-05
    days on market $39,900 Active 125 DOM
13. 2026-06-03
    days on market $39,900 Active 124 DOM
14. 2026-06-02
    days on market $39,900 Active 123 DOM
15. 2026-06-01
    days on market $39,900 Active 122 DOM
16. 2026-05-31
    days on market $39,900 Active 121 DOM
17. 2026-05-30
    days on market $39,900 Active 120 DOM
18. 2026-05-11
    price $39,900 723-char remark

    Show marketing remark (723 chars)

    This large property on corner lot was previously used as a bar on first floor, and 2nd and 3rd are setup as possible residences. There is 5 parking spaces in rear of property. New electric service and panels in 2022 - 200amps on 1st floor, 150 amps on 2nd floor, 150amps on 3rd floor. Separate entrances to each floor offers lots of options! The building is much larger than it appears. The electric is on to the property but some lights in residential area not installed please take a flashlight. Property being sold in As-Is condition seller to make no repairs. Gas and water/sewe have not been on in seller's name and will not be turn on prior to closing. Contract must reflect. Call listing agent for more information

19. 2026-04-09
    price $45,000 723-char remark

    Show marketing remark (723 chars)

    This large property on corner lot was previously used as a bar on first floor, and 2nd and 3rd are setup as possible residences. There is 5 parking spaces in rear of property. New electric service and panels in 2022 - 200amps on 1st floor, 150 amps on 2nd floor, 150amps on 3rd floor. Separate entrances to each floor offers lots of options! The building is much larger than it appears. The electric is on to the property but some lights in residential area not installed please take a flashlight. Property being sold in As-Is condition seller to make no repairs. Gas and water/sewe have not been on in seller's name and will not be turn on prior to closing. Contract must reflect. Call listing agent for more information

20. 2026-01-30
    listed $49,900 Active 723-char remark

    Show marketing remark (723 chars)

    This large property on corner lot was previously used as a bar on first floor, and 2nd and 3rd are setup as possible residences. There is 5 parking spaces in rear of property. New electric service and panels in 2022 - 200amps on 1st floor, 150 amps on 2nd floor, 150amps on 3rd floor. Separate entrances to each floor offers lots of options! The building is much larger than it appears. The electric is on to the property but some lights in residential area not installed please take a flashlight. Property being sold in As-Is condition seller to make no repairs. Gas and water/sewe have not been on in seller's name and will not be turn on prior to closing. Contract must reflect. Call listing agent for more information

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

Taxation est. · year 1

• Rental income: $39,756
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$3,180
• − Management: −$3,180
• − Depreciation: −$1,161
• Taxable income: $29,201
• Est. tax owed @ 24.0%: −$7,008
• After-tax cash flow: $21,090/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 · 3 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major work on the exterior, roof, and foundation. Improvements in these areas would significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Roof — Snow-covered roof with potential ice dam
• Major Foundation — Exposed foundation with potential structural issues
• Major Exterior walls — Exposed siding with potential water damage
• Major Landscaping — Overgrown vegetation, poor curb appeal

Value-add opportunities

• Resale Paint exterior walls — Fresh paint can significantly improve curb appeal
• Rental Clean gutters — Clean gutters prevent water damage and improve property maintenance
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Roof · Snow-covered roof with potential ice dam	Major	$15,000–50,000
Foundation · Exposed foundation with potential structural issues	Major	$15,000–50,000
Exterior walls · Exposed siding with potential water damage	Major	$15,000–50,000
Landscaping · Overgrown vegetation, poor curb appeal	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Paint exterior walls — Fresh paint can significantly improve curb appeal ↑
• Rental Clean gutters — Clean gutters prevent water damage and improve property maintenance ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property 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: Altoona Area SD
• NCES district ID: 4202340
• Math proficiency: 30% ▼ -15.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $38,465
• Composite: 30.85/100
• National rank: #6130
• State rank: #406 of 539 in PA

Livability — Altoona

• Score: 79/100
• State rank: #237
• US rank: #2060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altoona, PA
• County: Blair County · 59,867 people
• City population: 59,867
• Metro: Altoona, PA
• Population (ZIP): 33,515
• Household income: $58,070
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 715.0

Population outlook (Blair County) Hauer SSP2

• Today (2025): 121,571 people
• By 2030: 117,966 · -3.0%
• By 2040: 109,174 · -10.2%
• By 2050: 99,542 · -18.1%
• By 2075: 76,775 · -36.8%
• By 2100: 54,326 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Blair

• 2024 margin: Solid R (+43.5) · D 27.9% · R 71.4%
• 2008→2024 swing: -19.2pp toward R · 2008: -24.3pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+46.4 2012: R+33.5 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.97%
• Current HPI: 183.9907
• Rent YoY: —
• Metro: Altoona, PA
• 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

-20.0% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $39,900 AHARMLS
• 2026-04-09 Price Changed $45,000 AHARMLS
• 2026-01-30 Listed $49,900 AHARMLS