215 Patterson Ave

Bridgeville, PA 15017

$69,900B

2 bd · 1.0 ba · 992 sqft · Built 1930 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,498/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$218
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $599/mo
• Annual: $7,185/yr
• Cap rate: 16.57%
• Cash-on-cash: 36.71%
• DSCR: 2.63
• 1% rule: 2.14%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#199 in PA, #1,745 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, amenities A; Watch: employment C-, commute F.
• Chartiers Valley SD (suburban): math 37% / reading 57% proficiency, ranked #221 of 539 in PA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chartiers Valley Primary Sch (879 students, 30% FRL); Chartiers Valley Ms (math 20% / reading 55%, grade F, #292 of 512 statewide, top 58%, 718 students, 35% FRL); Chartiers Valley Hs (math 53% / reading 24%, grade F, #279 of 437 statewide, top 64%, 1,018 students, 25% FRL).
• Watch-outs: property tax is 3.2% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 71 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.6% vs local median 4.0% in Bridgeville — 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

• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.