117 W 11th Ave

Tarentum, PA 15084

$105,000B

4 bd · 2.0 ba · 2,112 sqft · Built 1900 · MultiFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,239/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$190
• HOA: −$0
• Vac / Maint / Mgmt: −$470
• Net cashflow: $1,028/mo
• Annual: $12,334/yr
• Cap rate: 18.04%
• Cash-on-cash: 41.95%
• DSCR: 2.87
• 1% rule: 2.13%
• Cash to close: $29,400

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $105k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $514/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 112 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($726 loan paydown + $476 appreciation (0.5% local appreciation)).
• Location reads 79/100 on livability (#240 in PA, #2,066 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, amenities F, employment F.
• Highlands SD (suburban): math 29% / reading 48% proficiency, ranked #376 of 539 in PA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 6 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $39k; list at $105k implies a 169% gain — meaningful room to come down on a strong offer.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.0% vs local median 9.6% in Tarentum — 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

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.