make $$ back in 4 years | Buy-&-Hold
3BR at the bordering line of Wilmerding-North Versailles; right next to the Westinghouse Arts Academy Charter School!
If you’re not familiar w/Wilmerding, you likely will be w/one of its 5 borders (Monroeville, East McKeesport, North Versailles, Wall, Turtle Creek).
Walkable to the progressively small-town-famous Johnny’s, a general/variety store, pizza, a bank, & Westinghouse Park. Nostalgic little area!
Just vacated; make it nicer to collect around $1k in rent *or* leave it as it is, add an appliance or 2, tighten it up w/some paint & minor repairs & just let it ride for a little less; either way is a minimum 23% CAP.
Wilmerding comps aren’t the greatest but you could flip it for a few fast $s…
- Major components in good shape (H2O tank, roof, furnace).
- Sits way high up off the street.
- Big covered front porch the width of the house.
- The street is actually quite cool w/the elevated houses & sidewalk, & nearly at the highest point of Wilmerding (see StreetView pic near end of reel).
- $670.42 taxes assessed at $15,700 .. they WoN’T go up!
- Built in 1891 yet has central heat 🙂
- Really long parcels there .. you’ll own the ~177-ft.-long land up to the street behind it, which might be the only street at a higher elevation (Morningside).
- Firepit area.
- Perhaps *some* decent flooring & I *think* all the a/c units stay.
- Vinyl siding pretty nice.
- Good tall ~120 y/o ceilings.
Just in case, very similar one feet away sold for $83k in 2018: here
15 Sprague (very nice!!) sold for $62k in 2018, but it’s just over the N. Versailles line: here!
(^^they share the same school district!!)
- Taxes: $670
- Electric: Updated
- Plumbing: Updated
- Kitchen: *Spruced-up* 7 yrs ago
- Bath: Mainly sufficient
- Roof: 15 yrs old
- Furnace: 8-12 yrs old
- Hot Water Tank: 6 yrs old
- Windows: Single-paned OG *PLUS* storm
- Floors: 2
- Parking: On-street
- Rental Potential: $1,025/mo & climbing