246 Main St · Leechburg, PA 15656

$34,900

3 bd · 3.0 ba · 2,218 sqft · SingleFamily public records · 107 Days on market

Built 1890 4,443 sqft lot $16/sqft · 73% below area ↓ 18% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious multi-family property located at 246 Main St in Leechburg, PA, offering a unique opportunity for investors or buyers seeking a value-add renovation project. Originally constructed as a large single-family residence, the property was later converted to accommodate multiple living spaces and still retains much of its classic character and generous square footage. The exterior features durable aluminum/vinyl siding and a covered front porch, adding to the property’s traditional curb appeal. The building is serviced by four separate electric meters, offering flexibility for future rental use or redevelopment. The property requires updates and improvements, providing the opportunity for buyers to renovate and customize the space to their needs. With the right vision, the property could continue to function as a multi-family investment or potentially be restored to a large single-family residence. Conveniently located near Leechburg’s local shops, dining, and community amenities, with easy access to surrounding areas. Property is being sold as-is. Buyers are responsible for verifying property condition, zoning, and permitted uses.

Key facts

• Covered front porch
• 4,443 sq ft lot
• Built 1890

Tags

• COVERED FRONT PORCH
• MULTIPLE LIVING SPACES
• FOUR SEPARATE ELECTRIC METERS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $833 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#294 in PA, #2,608 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, employment D, commute F.
• Leechburg Area SD (suburban): math 33% / reading 53% proficiency, ranked #303 of 539 in PA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 58 units permitted in Armstrong County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($241 loan paydown + $3k appreciation (10.0% local appreciation)).
• Armstrong County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, 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 107 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.90% ✓
• Cap rate: 34.93%
• Cash-on-cash: 102.28%
• DSCR: 5.55
• GRM: 2.1

CMA / ARV

• ARV (median comp): $130,603
• List price: $34,900
• Delta: -73.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
431 Washington Ave	0.31mi	3/2.0	2,016 (-9%)	9mo	$40,000	$20	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.38×
• Total profit: $72,075
• Equity at exit: $31,441

10-year hold

• IRR: —
• Equity multiple: 18.46×
• Total profit: $170,574
• Equity at exit: $67,803

Cash invested: $9,772 (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 15656

• Home prices YoY: 9.1%
• Active inventory: 32
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $833

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 34%

Sensitivity live

Price	-10% $857	-5% $845	+0% $833	+5% $821	+10% $809
Rent	-10% $725	-5% $779	+0% $833	+5% $887	+10% $940
Rate	-1.0pp $850	-0.5pp $842	base $833	+0.5pp $824	+1.0pp $815

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $34,900 Active 107 DOM
2. 2026-06-18
   days on market $34,900 Active 105 DOM
3. 2026-06-17
   days on market $34,900 Active 104 DOM
4. 2026-06-16
   days on market $34,900 Active 103 DOM
5. 2026-06-15
   days on market $34,900 Active 102 DOM
6. 2026-06-13
   days on market $34,900 Active 100 DOM
7. 2026-06-12
   days on market $34,900 Active 99 DOM
8. 2026-06-09
   days on market $34,900 Active 96 DOM
9. 2026-06-08
   days on market $34,900 Active 95 DOM
10. 2026-06-08
    days on market $34,900 Active 94 DOM
11. 2026-06-05
    days on market $34,900 Active 92 DOM
12. 2026-06-04
    days on market $34,900 Active 90 DOM
13. 2026-06-03
    price $34,900 Active 89 DOM
14. 2026-06-02
    days on market $44,900 Active 89 DOM
15. 2026-06-01
    days on market $44,900 Active 88 DOM
16. 2026-05-31
    days on market $44,900 Active 87 DOM
17. 2026-04-28
    price $44,900 1163-char remark

    Show marketing remark (1212 chars)

    Unique opportunity at 246 Main St in Leechburg, PA! Originally built as a spacious single-family residence, this large home offers the potential to be restored back to an impressive single-family property with the right vision and renovation. The property features classic architectural character, generous square footage, and a welcoming covered front porch, reflecting the charm of the home’s original design. Over time the interior was reconfigured to accommodate multiple living spaces and the property is currently serviced by four separate electric meters, offering flexibility for future use. The home requires significant updates and repairs, making it an ideal project for investors, contractors, or buyers looking to restore a large residence to its former character and scale. Conveniently located near Leechburg’s shops, dining, and community amenities, with easy access to surrounding areas. Property is being sold as-is. Buyers are responsible for verifying property condition, zoning, and permitted uses. Buyers are encouraged to perform their own due diligence regarding condition and intended use. Great opportunity for those looking to invest in a property with long-term potential.

18. 2026-04-28
    price $44,900 1212-char remark

    Show marketing remark (1212 chars)

    Unique opportunity at 246 Main St in Leechburg, PA! Originally built as a spacious single-family residence, this large home offers the potential to be restored back to an impressive single-family property with the right vision and renovation. The property features classic architectural character, generous square footage, and a welcoming covered front porch, reflecting the charm of the home’s original design. Over time the interior was reconfigured to accommodate multiple living spaces and the property is currently serviced by four separate electric meters, offering flexibility for future use. The home requires significant updates and repairs, making it an ideal project for investors, contractors, or buyers looking to restore a large residence to its former character and scale. Conveniently located near Leechburg’s shops, dining, and community amenities, with easy access to surrounding areas. Property is being sold as-is. Buyers are responsible for verifying property condition, zoning, and permitted uses. Buyers are encouraged to perform their own due diligence regarding condition and intended use. Great opportunity for those looking to invest in a property with long-term potential.

19. 2026-03-05
    listed $54,900 Active 1163-char remark

    Show marketing remark (1212 chars)

    Unique opportunity at 246 Main St in Leechburg, PA! Originally built as a spacious single-family residence, this large home offers the potential to be restored back to an impressive single-family property with the right vision and renovation. The property features classic architectural character, generous square footage, and a welcoming covered front porch, reflecting the charm of the home’s original design. Over time the interior was reconfigured to accommodate multiple living spaces and the property is currently serviced by four separate electric meters, offering flexibility for future use. The home requires significant updates and repairs, making it an ideal project for investors, contractors, or buyers looking to restore a large residence to its former character and scale. Conveniently located near Leechburg’s shops, dining, and community amenities, with easy access to surrounding areas. Property is being sold as-is. Buyers are responsible for verifying property condition, zoning, and permitted uses. Buyers are encouraged to perform their own due diligence regarding condition and intended use. Great opportunity for those looking to invest in a property with long-term potential.

20. 2026-03-05
    listed $54,900 Active 1212-char remark

    Show marketing remark (1212 chars)

    Unique opportunity at 246 Main St in Leechburg, PA! Originally built as a spacious single-family residence, this large home offers the potential to be restored back to an impressive single-family property with the right vision and renovation. The property features classic architectural character, generous square footage, and a welcoming covered front porch, reflecting the charm of the home’s original design. Over time the interior was reconfigured to accommodate multiple living spaces and the property is currently serviced by four separate electric meters, offering flexibility for future use. The home requires significant updates and repairs, making it an ideal project for investors, contractors, or buyers looking to restore a large residence to its former character and scale. Conveniently located near Leechburg’s shops, dining, and community amenities, with easy access to surrounding areas. Property is being sold as-is. Buyers are responsible for verifying property condition, zoning, and permitted uses. Buyers are encouraged to perform their own due diligence regarding condition and intended use. Great opportunity for those looking to invest in a property with long-term potential.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,315
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$1,015
• Taxable income: $10,036
• Est. tax owed @ 24.0%: −$2,409
• After-tax cash flow: $7,586/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: Leechburg Area SD
• NCES district ID: 4213470
• Math proficiency: 33% ▼ -13.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $47,241
• Composite: 36.64/100
• National rank: #4618
• State rank: #303 of 539 in PA

Livability — Leechburg

• Score: 78/100
• State rank: #294
• US rank: #2608

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leechburg, PA
• Population (ZIP): 9,766

Population outlook (Armstrong County) Hauer SSP2

• Today (2025): 62,513 people
• By 2030: 59,579 · -4.7%
• By 2040: 52,890 · -15.4%
• By 2050: 45,904 · -26.6%
• By 2075: 32,023 · -48.8%
• By 2100: 20,415 · -67.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 2%
• Common ancestry: Romanian 11% Serbian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Armstrong

• 2024 margin: Solid R (+53.2) · D 23.0% · R 76.2%
• 2008→2024 swing: -28.6pp toward R · 2008: -24.6pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+52.3 2016: R+52.0 2012: R+37.2 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.11%
• Current HPI: 252.6103
• 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

-18.2% since first listed

4 events — show timeline

• 2026-04-28 Price Changed $44,900 West Penn MLS
• 2026-04-28 Price Changed $44,900 West Penn MLS
• 2026-03-05 Listed $54,900 West Penn MLS
• 2026-03-05 Listed $54,900 West Penn MLS

Property tax history

+1.5%/yr

Latest (2026): $2,968 · +1.0% YoY. Source: county tax records.