249 E 16th Ave · Homestead, PA 15120

$68,500

3 bd · 1.0 ba · 1,637 sqft · SingleFamily public records · 1 Days on market

Built 1900 1,559 sqft lot Est $124k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in Homestead with significant upside potential. This approximately 1,637 sq ft home is currently configured as a 3-bedroom, 1-bath property and is ready for a full renovation. The existing layout offers the opportunity to expand the living space by finishing the attic, creating up to two additional bedrooms or a bedroom with an additional bathroom, subject to buyer verification and approvals. The property retains much of its original character and provides a solid footprint for a value-add project. Conveniently located just minutes from The Waterfront shopping and entertainment district, featuring major retailers, restaurants, entertainment, and everyday conveniences. The p

Key facts

• Expand living space
• Original character
• Finish the attic

Tags

• FULL RENOVATION
• EXPAND LIVING SPACE
• FINISH THE ATTIC
• ORIGINAL CHARACTER
• STRONG RENOVATION POTENTIAL

Property features AI

Finance

• HOA & community: Access to public transportation

Exterior

• Parking: On-street parking (1 space)
• Utilities: Public water; Public sewer
• Home design: 2-story residence; Resale property; Asphalt roof; Brick construction
• Construction: Brick construction; Asphalt roof
• Exterior features: Lot dimensions approximately 25 x 60 x 26 x 60; Small lot (about 0.036 acres)

Interior

• Kitchen: Main-level kitchen (8 x 14)
• Bedrooms: Upper-level bedroom (11 x 13); Upper-level bedroom (7 x 7); Upper-level bonus room (12 x 21)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Full basement with interior entry; Decorative fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).

Location & tenants

• Location reads 77/100 on livability (#366 in PA, #3,204 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Steel Valley SD (suburban): math 29% / reading 45% proficiency, ranked #403 of 539 in PA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 92 active listings in the ZIP; 11 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).
• This rent runs 33% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $474 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $47k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,500

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 2.21% ✓
• Cap rate: 19.95%
• Cash-on-cash: 48.77%
• DSCR: 3.17
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $124,412
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 Margaret St	0.06mi	3/1.0	1,628 (-0%)	1mo	$25,000	$15	96
238 E 19th	0.19mi	3/1.5	1,600 (-2%)	3mo	$45,000	$28	82
245 E 18th Ave	0.11mi	3/1.5	1,512 (-8%)	1mo	$15,000	$10	80
600 E 14th Ave	0.09mi	3/2.0	1,472 (-10%)	0mo	$229,007	$156	75
230 E 15th Ave	0.08mi	3/1.0	1,417 (-13%)	2mo	$25,000	$18	72
306 W 15th Ave	0.36mi	3/1.5	1,701 (+4%)	5mo	$200,000	$118	70
227 E 15th Ave	0.10mi	2/2.0 (-1)	1,490 (-9%)	6mo	$55,000	$37	67
156 Dahlia St	0.48mi	3/1.0	1,560 (-5%)	6mo	$191,900	$123	65
342 E 11th Ave	0.26mi	3/1.5	1,878 (+15%)	3mo	$138,000	$73	58
30 Harrison St	0.44mi	3/1.0	1,440 (-12%)	1mo	$112,500	$78	58
144 W Schwab Ave	0.68mi	4/1.5 (+1)	1,540 (-6%)	3mo	$150,000	$97	49
109 Vine St	0.60mi	2/1.5 (-1)	1,444 (-12%)	4mo	$110,000	$76	42

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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 47.5%
• Equity multiple: 3.09×
• Total profit: $40,168
• Equity at exit: $10,214

10-year hold

• IRR: 53.6%
• Equity multiple: 6.51×
• Total profit: $105,693
• Equity at exit: $5,923

Cash invested: $19,180 (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 15120

• Home prices YoY: -16.9%
• Rents YoY: 4.1%
• Active inventory: 92
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,512 high
• Mortgage (P&I): −$359
• Tax from tax record: −$27 /mo · $329/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $780

Break-even live

Break-even rent $526

Max offer price $68,500

Occupancy floor 43%

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: $17,125
• Closing costs: $2,055
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
623 E 18th Ave Homestead, PA	2.0	1.0	1156	$1,600	$1.38	43d	1	0.15mi
621 E 9th Ave Homestead, PA	2.0	2.0	1400	$1,425	$1.02	23d	1	0.38mi
300 W 13th Ave Unit 302 Homestead, PA	2.0	1.0	1088	$1,150	$1.06	16d	1	0.39mi
300 W 13th Ave Homestead, PA	2.0	1.0	1088	$1,125	$1.03	16d	1	0.39mi
931 Hilltop St Homestead, PA	3.0	1.5	1312	$1,500	$1.14	14d	1	0.60mi
218 Mary St Homestead, PA	3.0	1.0	1776	$1,400	$0.79	21d	1	0.77mi
1254 Edgewood Dr Homestead, PA	3.0	1.0	1144	$1,725	$1.51	43d	1	0.81mi
308 Lea St Homestead, PA	4.0	2.0	1480	$1,490	$1.01	2d	1	0.86mi
3305 W Run Rd Munhall, PA	2.0	1.0	1100	$1,365	$1.24	23d	1	1.02mi
7009 Church St Pittsburgh, PA	3.0	2.0	1800	$1,550	$0.86	43d	1	1.23mi
212 Kenmawr Ave Braddock, PA	2.0	1.5	1417	$1,300	$0.92	43d	1	1.46mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $68,500 Active 1 DOM

ⓘ 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: $329 · $27/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$376/yr (+$31/mo · 114.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,148
• − Mortgage interest: −$3,837
• − Property taxes: −$329
• − Insurance: −$342
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$1,993
• Taxable income: $8,743
• Est. tax owed @ 24.0%: −$2,098
• After-tax cash flow: $7,256/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: Steel Valley SD
• NCES district ID: 4222790
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $39,505
• Composite: 30.94/100
• National rank: #6111
• State rank: #403 of 539 in PA

Livability — Homestead

• Score: 77/100
• State rank: #366
• US rank: #3204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homestead, PA
• County: Allegheny County · 1,022,028 people
• Metro: Pittsburgh, PA
• Population (ZIP): 18,029
• Household income: $55,714
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 669.0

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 (74%)
• Race & ethnicity: White 74% Black 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 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: ▼ -59.52%
• Current HPI: 292.5607
• Rent YoY: ▲ 4.06%
• 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

+185.4% since first listed

5 events — show timeline

• 2026-06-18 Listed $68,500 West Penn MLS
• 2026-04-14 Sold (Public Records) $47,000 Public Records
• 2006-02-16 Sold (Public Records) $68,000 Public Records
• 1989-01-08 Sold (Public Records) $24,168 Public Records
• 1985-07-08 Sold (Public Records) $24,000 Public Records

Property tax history

-3.4%/yr

Latest (2026): $329 · +3.2% YoY. Source: county tax records.