Old farmhouse with two roughly ½-acre adj. lots (0.903/⁹⁄₁₀-acre).
Clean & was properly winterized; nostalgically maintained family property.
Was rented for $650+$700 ($1,350 total)/month. Market rents when fixed-up $975/unit ($1,950 total), maybe more depending on what you do with it, especially due to its North Fayette location & proximities.
-Isolated yet 5 minutes from Robinson Towne Centre!
-Very close to I-376 and Settlers Ridge/Summit Park areas. <10 minutes to the airport.
-West Allegheny School District!
Has a rear wood deck + a covered front porch, & all the parking 2 units could ever need.
Needs updates and some work. Has been vacant about a year so at least was recently livable. There were some mold issues (pictured; not bad) but then the city fixed the pipes that caused it so that issue is remedied / won’t reoccur. There might however be water getting in elsewhere at heavy times that might need assessed; unconfirmed but still a possibility to disclose. Roof still young @7 years. Hot water tank too at 5 y/o.
Comps were a bit tough since it’s in an area of properties on large lots (yet right off of Steubenville Pike), but you’re looking at a pretty promising ARV over $200k.
2BR SFRs averaging about $145k. Going out a few miles is showing renovated frame duplexes in the $240k range. Some Cliff Mine homes have actually sold upwards of $500k with luxurious builds.
So flip it as you wish for a substantial cash return or hold onto it for CAP somewhere between 13 % & 17%👍👍
- Taxes: $2,292 ($1,589+$703)
- Electric: Updated
- Plumbing: Updated
- Kitchen: Needs updating (both)
- Bath: Needs updating (both)
- Roof: 7 yrs old
- Furnace: Boiler; 40 yrs old
- Hot Water Tank: 5 yrs old
- Windows: Double-paned
- (2) 2 BR / 1 BA
- Floors: 2
- Parking: Big gravel parking pad
- Rental Potential: $1,950/mo TOTAL