327 3rd St · Leechburg, PA 15656

$24,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 65 Days on market

Built 1890 3,310 sqft lot $17/sqft · 78% below area ↓ 58% since listing

---

Why this score? — see what drove the C 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

* * Investor Special * * This spacious property is set up like a duplex and offers flexible options — finish it into a true two-unit investment property, or restore it into a stunning single-family home with incredible space and charm. Whether you’re looking for rental income or a grand residence, the potential here is endless. Bring your vision and make it yours! Cash or rehab loans only. Property needs renovations. Bring your contractor. Property being sold as-is.

Key facts

• 3,310 sq ft lot
• Built 1890
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $897 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $23k (6.0% 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: 33 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 $3k of equity ($166 loan paydown + $2k 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y 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 $14k; list at $24k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $22,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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: 5.60% ✓
• Cap rate: 51.13%
• Cash-on-cash: 160.13%
• DSCR: 8.13
• GRM: 1.5

CMA / ARV

• ARV (median comp): $106,705
• List price: $24,000
• Delta: -77.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Floral Ave	0.15mi	3/1.0	1,487 (+3%)	18mo	$155,000	$104	72
428 2nd St	0.17mi	3/2.0	1,444 (+0%)	19mo	$50,000	$35	72
61 Kiski Ave	0.13mi	3/1.5	1,368 (-5%)	15mo	$33,000	$24	71
420 Washington Ave	0.37mi	3/1.5	1,409 (-2%)	11mo	$175,000	$124	67
434 2nd St	0.18mi	3/2.0	1,296 (-10%)	8mo	$180,000	$139	65
1653 Main St	0.54mi	2/1.0 (-1)	1,382 (-4%)	0mo	$117,000	$85	63
347 Madison Ave	0.52mi	3/1.5	1,430 (-1%)	12mo	$195,000	$136	63
419 Washington Ave	0.38mi	3/1.5	1,536 (+7%)	9mo	$140,000	$91	62
485 Evergreen Rd	0.38mi	3/1.0	1,512 (+5%)	19mo	$36,000	$24	58
208 Beale Ave	0.30mi	3/1.5	1,242 (-14%)	10mo	$159,000	$128	52
372 Lincoln Ave	0.36mi	3/1.5	1,550 (+8%)	21mo	$134,900	$87	51
371 Washington Ave	0.34mi	3/2.5	1,608 (+12%)	20mo	$155,000	$96	42

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: 11.45×
• Total profit: $70,206
• Equity at exit: $21,621

10-year hold

• IRR: —
• Equity multiple: 25.09×
• Total profit: $161,870
• Equity at exit: $46,627

Cash invested: $6,720 (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: 33
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $897

Break-even live

Break-even rent $210

Max offer price $24,000

Occupancy floor 28%

Sensitivity live

Price	-10% $913	-5% $905	+0% $897	+5% $888	+10% $880
Rent	-10% $790	-5% $844	+0% $897	+5% $950	+10% $1,003
Rate	-1.0pp $909	-0.5pp $903	base $897	+0.5pp $891	+1.0pp $884

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $24,000 Active 65 DOM
2. 2026-06-18
   days on market $24,000 Active 63 DOM
3. 2026-06-17
   price $24,000 Active 62 DOM
4. 2026-06-17
   days on market $25,000 Active 62 DOM
5. 2026-06-16
   days on market $25,000 Active 61 DOM
6. 2026-06-15
   days on market $25,000 Active 60 DOM
7. 2026-06-13
   days on market $25,000 Active 58 DOM
8. 2026-06-12
   days on market $25,000 Active 57 DOM
9. 2026-06-09
   days on market $25,000 Active 54 DOM
10. 2026-06-08
    days on market $25,000 Active 53 DOM
11. 2026-06-08
    days on market $25,000 Active 52 DOM
12. 2026-06-05
    days on market $25,000 Active 50 DOM
13. 2026-06-04
    days on market $25,000 Active 48 DOM
14. 2026-06-02
    days on market $25,000 Active 47 DOM
15. 2026-06-01
    days on market $25,000 Active 46 DOM
16. 2026-05-31
    days on market $25,000 Active 45 DOM
17. 2026-04-16
    listed $25,000 Active 490-char remark

    Show marketing remark (490 chars)

    * * Investor Special * * This spacious property is set up like a duplex and offers flexible options — finish it into a true two-unit investment property, or restore it into a stunning single-family home with incredible space and charm. Whether you’re looking for rental income or a grand residence, the potential here is endless. Bring your vision and make it yours! Cash or rehab loans only. Property needs renovations. Bring your contractor. Property being sold as-is.

18. 2026-04-13
    price $24,400 490-char remark

    Show marketing remark (490 chars)

    * * Investor Special * * This spacious property is set up like a duplex and offers flexible options — finish it into a true two-unit investment property, or restore it into a stunning single-family home with incredible space and charm. Whether you’re looking for rental income or a grand residence, the potential here is endless. Bring your vision and make it yours! Cash or rehab loans only. Property needs renovations. Bring your contractor. Property being sold as-is.

19. 2026-01-22
    price $34,400 490-char remark

    Show marketing remark (490 chars)

    * * Investor Special * * This spacious property is set up like a duplex and offers flexible options — finish it into a true two-unit investment property, or restore it into a stunning single-family home with incredible space and charm. Whether you’re looking for rental income or a grand residence, the potential here is endless. Bring your vision and make it yours! Cash or rehab loans only. Property needs renovations. Bring your contractor. Property being sold as-is.

20. 2025-11-26
    listed $34,900 Active 490-char remark

    Show marketing remark (490 chars)

    * * Investor Special * * This spacious property is set up like a duplex and offers flexible options — finish it into a true two-unit investment property, or restore it into a stunning single-family home with incredible space and charm. Whether you’re looking for rental income or a grand residence, the potential here is endless. Bring your vision and make it yours! Cash or rehab loans only. Property needs renovations. Bring your contractor. Property being sold as-is.

21. 2025-07-08
    price $34,900
22. 2025-07-08
    price $34,900
23. 2025-05-28
    price $39,900
24. 2025-05-28
    price $39,900
25. 2025-04-28
    listed $49,900 Active
26. 2025-04-28
    listed $49,900 Active
27. 2023-11-17
    historical Expired
28. 2023-11-17
    historical Expired
29. 2023-11-01
    price $69,900
30. 2023-11-01
    price $69,900
31. 2023-10-21
    price $76,000
32. 2023-10-21
    price $76,000
33. 2023-10-11
    price $77,000
34. 2023-10-11
    price $77,000
35. 2023-10-03
    price $82,000
36. 2023-10-03
    price $82,000
37. 2023-09-27
    price $83,000
38. 2023-09-27
    price $83,000
39. 2023-09-19
    price $84,000
40. 2023-09-19
    price $84,000
41. 2023-09-11
    price $85,000
42. 2023-09-11
    price $85,000
43. 2023-09-05
    price $88,000
44. 2023-09-05
    price $88,000
45. 2023-09-01
    price $89,000
46. 2023-09-01
    price $89,000
47. 2023-08-28
    price $90,000
48. 2023-08-28
    price $90,000
49. 2023-08-23
    listed $95,000 Active
50. 2023-08-23
    listed $95,000 Active

ⓘ 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 7 d/yr ≥97°F today · 18 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: $16,141
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$120
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$698
• Taxable income: $11,036
• Est. tax owed @ 24.0%: −$2,649
• After-tax cash flow: $8,112/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

-58.3% since first listed

43 events — show timeline

• 2026-04-16 Listed $25,000 West Penn MLS
• 2026-04-13 Price Changed $24,400 West Penn MLS
• 2026-01-22 Price Changed $34,400 West Penn MLS
• 2025-11-26 Listed $34,900 West Penn MLS
• 2025-07-08 Price Changed $34,900 West Penn MLS
• 2025-07-08 Price Changed $34,900 West Penn MLS
• 2025-05-28 Price Changed $39,900 West Penn MLS
• 2025-05-28 Price Changed $39,900 West Penn MLS
• 2025-04-28 Listed $49,900 West Penn MLS
• 2025-04-28 Listed $49,900 West Penn MLS
• 2023-11-17 Delisted — West Penn MLS
• 2023-11-17 Delisted — West Penn MLS
• 2023-11-01 Price Changed $69,900 West Penn MLS
• 2023-11-01 Price Changed $69,900 West Penn MLS
• 2023-10-21 Price Changed $76,000 West Penn MLS
• 2023-10-21 Price Changed $76,000 West Penn MLS
• 2023-10-11 Price Changed $77,000 West Penn MLS
• 2023-10-11 Price Changed $77,000 West Penn MLS
• 2023-10-03 Price Changed $82,000 West Penn MLS
• 2023-10-03 Price Changed $82,000 West Penn MLS
• 2023-09-27 Price Changed $83,000 West Penn MLS
• 2023-09-27 Price Changed $83,000 West Penn MLS
• 2023-09-19 Price Changed $84,000 West Penn MLS
• 2023-09-19 Price Changed $84,000 West Penn MLS
• 2023-09-11 Price Changed $85,000 West Penn MLS
• 2023-09-11 Price Changed $85,000 West Penn MLS
• 2023-09-05 Price Changed $88,000 West Penn MLS
• 2023-09-05 Price Changed $88,000 West Penn MLS
• 2023-09-01 Price Changed $89,000 West Penn MLS
• 2023-09-01 Price Changed $89,000 West Penn MLS
• 2023-08-28 Price Changed $90,000 West Penn MLS
• 2023-08-28 Price Changed $90,000 West Penn MLS
• 2023-08-23 Listed $95,000 West Penn MLS
• 2023-08-23 Listed $95,000 West Penn MLS
• 2021-06-16 Price Changed $15,000 West Penn MLS
• 2021-06-15 Sold (MLS) $14,400 West Penn MLS
• 2021-05-05 Pending — West Penn MLS
• 2020-11-04 Listed $30,000 West Penn MLS
• 2013-03-14 Sold (Public Records) $34,000 Public Records
• 2013-03-12 Sold (MLS) $34,000 West Penn MLS
• 2013-03-12 Price Changed $39,900 West Penn MLS
• 2012-04-06 Listed $34,000 West Penn MLS
• 2011-04-18 Listed $59,900 West Penn MLS

Property tax history

+1.3%/yr

Latest (2026): $2,505 · +1.0% YoY. Source: county tax records.