514 Hiland Ave

Coraopolis, PA 15108

$58,900B-

3 bd · 1.5 ba · 1,120 sqft · Built 1920 · SingleFamily · Active · 194 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,431/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$264
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $558/mo
• Annual: $6,693/yr
• Cap rate: 17.66%
• Cash-on-cash: 40.58%
• DSCR: 2.81
• 1% rule: 2.43%
• Cash to close: $16,492

Investor read

• This is a 3-bed/1.5-bath single-family listed at $59k.
• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• It's been on market 194 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $407 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#193 in PA, #1,621 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, amenities B+.
• Cornell SD (suburban): math 16% / reading 39% proficiency, ranked #461 of 539 in PA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cornell El Sch (math 17% / reading 42%, grade F, #1,125 of 1,518 statewide, top 75%, 281 students, 100% FRL); Cornell Hs (math 12% / reading 32%, grade F, #384 of 437 statewide, top 88%, 241 students, 86% FRL) — zoned schools average 93% FRL vs 66% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 4.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.1%/yr); 178 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 4 sale attempts since 23y ago; this cycle's ask has dropped $11k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 17.7% vs local median 4.6% in Coraopolis — 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.
• This rent is only 17% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.