4427 S Washington St · North East, PA 16428

$220,000

2 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 37 Days on market

Built 1900 0.48 ac lot $143/sqft · 15% below area Est $259k · 15% under

---

Why this score? — see what drove the D- 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).

• ARV discount +14.3/15.0
• Cash flow +5.9/30.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your happy place in North East! Sitting on nearly half an acre, this charming home gives you just the right mix of breathing room and being close to town—because convenience and a little elbow room make a great pair. Step inside and you’ll find a spacious kitchen ready for everything from pancake Sundays to holiday feasts, with plenty of room for a big table where everyone can gather. First-floor laundry keeps life simple, and the half bath on the main level is perfectly placed for guests. Upstairs, three cozy bedrooms await, along with a full bath featuring heated floors—because warm toes on chilly mornings? Yes, please. Outside, the yard offers a little bit of everything: some trees for shade, open grassy space for play or pets, and a patio that’s just calling for summer evenings and weekend lounging. Need storage? The large garden shed has you covered for tools, toys, and everything in between. It’s a home that feels easy, comfortable, and ready for your next chapter!

Key facts

• 0.48 acre lot
• Pool
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (34.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (42.0% below list).
• Recommended offer: $128k (42.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 88/100 on livability (#42 in PA, #233 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+.
• North East SD (town): math 47% / reading 69% proficiency, ranked #88 of 539 in PA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Earle C Davis Primary (315 students, 51% FRL); North East Ms (math 37% / reading 66%, grade C, #109 of 512 statewide, top 22%, 360 students, 54% FRL); North East Hs (math 92% / reading 84%, grade A, #4 of 437 statewide, top 1%, 526 students, 35% FRL).
• Market conditions: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $127k; list at $220k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $127,500 (42.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.58% ✗
• Cap rate: 3.93%
• Cash-on-cash: -8.44%
• DSCR: 0.62
• GRM: 14.4

CMA / ARV

• ARV (median comp): $259,185
• List price: $220,000
• Delta: -15.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Wellington St	0.46mi	2/2.0	1,632 (+6%)	6mo	$21,500	$13	59
4205 S Washington St	0.19mi	3/2.0 (+1)	1,608 (+5%)	19mo	$199,000	$124	58
95 Hutchinson Dr	0.40mi	3/3.0 (+1)	1,464 (-5%)	3mo	$300,000	$205	58
128 Grahamville St	0.53mi	3/2.0 (+1)	1,516 (-1%)	7mo	$192,900	$127	58
107 Jefferson St	0.46mi	2/2.0	1,636 (+6%)	8mo	$405,000	$248	57
126 Pine Tree Ln	0.35mi	2/2.5	1,400 (-9%)	7mo	$330,000	$236	57
11100 E Law Rd	0.59mi	3/2.0 (+1)	1,512 (-2%)	11mo	$290,000	$192	52
114 Pine Tree Ln	0.44mi	3/3.0 (+1)	1,558 (+1%)	23mo	$377,000	$242	45
4041 Route 89 Rte	0.54mi	3/2.5 (+1)	1,738 (+13%)	3mo	$320,000	$184	40
29 Bothel St	0.62mi	2/1.5	1,384 (-10%)	23mo	$120,000	$87	34
4041 Station Rd	0.53mi	3/2.5 (+1)	1,738 (+13%)	22mo	$313,000	$180	24

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -31.2%
• Equity multiple: -0.03×
• Total profit: $-63,287
• Equity at exit: $32,803

10-year hold

• IRR: -34.7%
• Equity multiple: -0.47×
• Total profit: $-90,780
• Equity at exit: $19,022

Cash invested: $61,600 (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 16428

• Home prices YoY: -26.0%
• Active inventory: 61
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-433

Break-even live

Break-even rent $1,824

Max offer price $143,426

Occupancy floor —

Sensitivity live

Price	-10% $-309	-5% $-371	+0% $-433	+5% $-496	+10% $-558
Rent	-10% $-534	-5% $-484	+0% $-433	+5% $-383	+10% $-333
Rate	-1.0pp $-323	-0.5pp $-378	base $-433	+0.5pp $-490	+1.0pp $-548

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2007 N Pearl St North East, PA	1.0–3.0	1.0–1.5	1125	$1,275	$1.13	45d	2	1.38mi

Listing history 6 events

1. 2026-05-08
   status Pending 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to your happy place in North East! Sitting on nearly half an acre, this charming home gives you just the right mix of breathing room and being close to town—because convenience and a little elbow room make a great pair. Step inside and you’ll find a spacious kitchen ready for everything from pancake Sundays to holiday feasts, with plenty of room for a big table where everyone can gather. First-floor laundry keeps life simple, and the half bath on the main level is perfectly placed for guests. Upstairs, three cozy bedrooms await, along with a full bath featuring heated floors—because warm toes on chilly mornings? Yes, please. Outside, the yard offers a little bit of everything: some trees for shade, open grassy space for play or pets, and a patio that’s just calling for summer evenings and weekend lounging. Need storage? The large garden shed has you covered for tools, toys, and everything in between. It’s a home that feels easy, comfortable, and ready for your next chapter!

2. 2026-04-17
   price $220,000 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to your happy place in North East! Sitting on nearly half an acre, this charming home gives you just the right mix of breathing room and being close to town—because convenience and a little elbow room make a great pair. Step inside and you’ll find a spacious kitchen ready for everything from pancake Sundays to holiday feasts, with plenty of room for a big table where everyone can gather. First-floor laundry keeps life simple, and the half bath on the main level is perfectly placed for guests. Upstairs, three cozy bedrooms await, along with a full bath featuring heated floors—because warm toes on chilly mornings? Yes, please. Outside, the yard offers a little bit of everything: some trees for shade, open grassy space for play or pets, and a patio that’s just calling for summer evenings and weekend lounging. Need storage? The large garden shed has you covered for tools, toys, and everything in between. It’s a home that feels easy, comfortable, and ready for your next chapter!

3. 2026-04-08
   price $234,900 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to your happy place in North East! Sitting on nearly half an acre, this charming home gives you just the right mix of breathing room and being close to town—because convenience and a little elbow room make a great pair. Step inside and you’ll find a spacious kitchen ready for everything from pancake Sundays to holiday feasts, with plenty of room for a big table where everyone can gather. First-floor laundry keeps life simple, and the half bath on the main level is perfectly placed for guests. Upstairs, three cozy bedrooms await, along with a full bath featuring heated floors—because warm toes on chilly mornings? Yes, please. Outside, the yard offers a little bit of everything: some trees for shade, open grassy space for play or pets, and a patio that’s just calling for summer evenings and weekend lounging. Need storage? The large garden shed has you covered for tools, toys, and everything in between. It’s a home that feels easy, comfortable, and ready for your next chapter!

4. 2026-04-01
   listed $239,900 Active 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to your happy place in North East! Sitting on nearly half an acre, this charming home gives you just the right mix of breathing room and being close to town—because convenience and a little elbow room make a great pair. Step inside and you’ll find a spacious kitchen ready for everything from pancake Sundays to holiday feasts, with plenty of room for a big table where everyone can gather. First-floor laundry keeps life simple, and the half bath on the main level is perfectly placed for guests. Upstairs, three cozy bedrooms await, along with a full bath featuring heated floors—because warm toes on chilly mornings? Yes, please. Outside, the yard offers a little bit of everything: some trees for shade, open grassy space for play or pets, and a patio that’s just calling for summer evenings and weekend lounging. Need storage? The large garden shed has you covered for tools, toys, and everything in between. It’s a home that feels easy, comfortable, and ready for your next chapter!

5. 2013-04-11
   soldstatus $127,000
6. 2005-03-10
   soldstatus $37,000

ⓘ 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: $2,344 · $195/mo
• Projected year-2 tax: $2,910 · $243/mo
• Expected delta: +$566/yr (+$47/mo · 24.1%)

ⓘ 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 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,300
• − Mortgage interest: −$12,323
• − Property taxes: −$2,344
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$6,400
• Taxable loss: −$9,316
• Est. tax savings @ 24.0%: +$2,236
• After-tax cash flow: $-2,966/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: North East SD
• NCES district ID: 4217160
• Math proficiency: 47% ▼ -15.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $48,844
• Composite: 49.22/100
• National rank: #2037
• State rank: #88 of 539 in PA

Livability — North East

• Score: 88/100
• State rank: #42
• US rank: #233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,508

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 13% Lithuanian 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Arabic 1% Spanish 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.46%
• Current HPI: 257.9847
• 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

+494.6% since first listed

6 events — show timeline

• 2026-05-08 Pending — GEBOR
• 2026-04-17 Price Changed $220,000 GEBOR
• 2026-04-08 Price Changed $234,900 GEBOR
• 2026-04-01 Listed $239,900 GEBOR
• 2013-04-11 Sold (Public Records) $127,000 Public Records
• 2005-03-10 Sold (Public Records) $37,000 Public Records

Property tax history

+2.2%/yr

Latest (2026): $2,344 · +3.4% YoY. Source: county tax records.