245 N Balph Ave · Bellevue, PA 15202

$182,500

7 bd · 3.0 ba · 2,684 sqft · MultiFamily public records · 185 Days on market

Built 1903 7,501 sqft lot

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Rent growth +3.8/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

Key facts

• Laundry and storage
• Front porches
• Private yard

Tags

• UP DOWN FRAME DUPLEX
• PRIVATE YARD
• FRONT PORCHES
• LAUNDRY AND STORAGE
• CASH FLOW OPPORTUNITY
• STRONG APPRECIATION POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $182k.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive. Per door: $425/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $182k).
• Recommended offer: $161k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 4.0% in Bellevue — 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 92/100 on livability (#9 in PA, #35 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Northgate SD (suburban): math 25% / reading 57% proficiency, ranked #354 of 539 in PA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 80 active listings in the ZIP; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At $2,742/mo this rent would consume 48% of the median local household income ($68k/yr) (locally 952% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $51k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $17k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $127k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.50% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.96%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

• ARV (median comp): $402,954
• List price: $182,500
• Delta: -54.71%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.60×
• Total profit: $30,713
• Equity at exit: $27,211

10-year hold

• IRR: 25.0%
• Equity multiple: 3.40×
• Total profit: $122,852
• Equity at exit: $15,779

Cash invested: $51,100 (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 15202

• Home prices YoY: -30.2%
• Rents YoY: 5.2%
• Active inventory: 80
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,742 high
• Mortgage (P&I): −$957
• Tax from tax record: −$283 /mo · $3,400/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $850

Break-even live

Break-even rent $1,666

Max offer price $182,500

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,742
Total (2 units)			$2,742

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-05
   status Pending 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

2. 2026-04-29
   price $182,500 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

3. 2026-03-25
   price $184,900 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

4. 2026-03-16
   status Active 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

5. 2026-03-05
   status Pending 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

6. 2026-03-04
   price $189,900 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

7. 2025-10-21
   listed $199,900 Active 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/2): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

8. 2025-05-06
   price $209,900 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/1): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

9. 2025-03-10
   listed $219,900 Active 888-char remark

   Show marketing remark (888 chars)

   Fantastic Investment or Owner Occupant Opportunity! Great Up/Down Frame Duplex in the heart of Bellevue!!! Tons of original character and charm! A very rare find! Unit 1 (Occupied 1/1): Living, Dining, Kitchen, Bedroom, Den, and Full Bath. Unit 2 (Vacant 4/1): 2nd Floor: Living, Kitchen, Den, Bedroom, and Full Bath. 3rd Floor: 3 Bedrooms, and Full Bath. Utilities split- 3 electric meters, 2 gas meters, and 1 water meter. 3 Electric Panels, 2 Furnaces, and 2 H2O Tanks. Basement has laundry and tons of storage. Nice sized front porches for morning coffee and private yard in the rear for cookouts! Upgrade units to improve rents or leave it as is- a great cash flow opportunity with strong appreciation potential! Live Upstairs and collect rent Downstairs! Great for owner occupants! Don't miss out on this building! Perfect for any investment portfolio! Bring your investor buyers!!!

10. 2021-05-18
    soldstatus $127,000 Closed
11. 2021-03-29
    status Pending
12. 2021-03-26
    listed $135,000 Active
13. 2012-05-02
    soldstatus $70,000
14. 2012-04-27
    soldstatus $70,000
15. 2012-04-27
    price $79,900
16. 2011-11-28
    listed $70,000
17. 2005-03-15
    soldstatus $25,000
18. 2004-12-15
    soldstatus $25,000
19. 2004-09-02
    listed $28,000

ⓘ 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: $3,400 · $283/mo
• Projected year-2 tax: $3,400 · $283/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,904
• − Mortgage interest: −$10,223
• − Property taxes: −$3,400
• − Insurance: −$912
• − Repairs & maintenance: −$2,632
• − Management: −$2,632
• − Depreciation: −$5,309
• Taxable income: $7,795
• Est. tax owed @ 24.0%: −$1,871
• After-tax cash flow: $8,327/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: Northgate SD
• NCES district ID: 4217770
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $39,084
• Composite: 34.15/100
• National rank: #5279
• State rank: #354 of 539 in PA

Livability — Bellevue

• Score: 92/100
• State rank: #9
• US rank: #35

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 19,564
• Household income: $68,287
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 952.0

Population outlook (Allegheny County) Hauer SSP2

• Today (2025): 1,250,282 people
• By 2030: 1,256,482 · +0.5%
• By 2040: 1,256,318 · +0.5%
• By 2050: 1,244,169 · -0.5%
• By 2075: 1,197,693 · -4.2%
• By 2100: 1,093,187 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Allegheny

• 2024 margin: Strong D (+20.3) · D 59.7% · R 39.4%
• 2008→2024 swing: +4.8pp toward D · 2008: 15.5pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+20.4 2016: D+16.4 2012: D+14.4 2008: D+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.40%
• Current HPI: 274.1929
• Rent YoY: ▲ 5.16%
• Metro: Pittsburgh, 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

+551.8% since first listed

19 events — show timeline

• 2026-05-05 Pending — West Penn MLS
• 2026-04-29 Price Changed $182,500 West Penn MLS
• 2026-03-25 Price Changed $184,900 West Penn MLS
• 2026-03-16 Relisted — West Penn MLS
• 2026-03-05 Pending — West Penn MLS
• 2026-03-04 Price Changed $189,900 West Penn MLS
• 2025-10-21 Listed $199,900 West Penn MLS
• 2025-05-06 Price Changed $209,900 West Penn MLS
• 2025-03-10 Listed $219,900 West Penn MLS
• 2021-05-18 Sold (MLS) $127,000 West Penn MLS
• 2021-03-29 Pending — West Penn MLS
• 2021-03-26 Listed $135,000 West Penn MLS
• 2012-05-02 Sold (Public Records) $70,000 Public Records
• 2012-04-27 Price Changed $79,900 West Penn MLS
• 2012-04-27 Sold (MLS) $70,000 West Penn MLS
• 2011-11-28 Listed $70,000 West Penn MLS
• 2005-03-15 Sold (Public Records) $25,000 Public Records
• 2004-12-15 Sold (MLS) $25,000 West Penn MLS
• 2004-09-02 Listed $28,000 West Penn MLS

Property tax history

+2.0%/yr

Latest (2026): $3,400 · +2.8% YoY. Source: county tax records.