645 Illinois Ave

Braddock Hills, PA 15221

$70,000B-

3 bd · 1.5 ba · 1,672 sqft · Built 1930 · SingleFamily · Active · 162 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,604/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$229
• HOA: −$0
• Vac / Maint / Mgmt: −$337
• Net cashflow: $671/mo
• Annual: $8,047/yr
• Cap rate: 17.79%
• Cash-on-cash: 41.06%
• DSCR: 2.83
• 1% rule: 2.29%
• Cash to close: $19,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $70k.
• At list price, monthly cash flow is $671 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 162 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#239 in PA, #2,065 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F, employment D-.
• Woodland Hills SD (suburban): math 13% / reading 30% proficiency, ranked #486 of 539 in PA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 3.4% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 3 sale attempts; this cycle's ask has dropped $30k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• This rent runs 35% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.