[Single Family] 401 28th St McKeesport, 15132 For Sale

  • $47,901
  • 2 beds
  • 1 baths
  • 1,339 sqft

LONG-term rental by the Yough: SFR + 5-car garage, all forever rented.

Tenants have been there 15 years; landlord never interested in raising rent ($500) since they don’t make a peep. 4 of the 5 garage tenants pay 3 months in advance; 1 pays 6 months in advance ($50/stall).


CAP as it sits today =  10%; potential = 21%.

  • Again, everything rented: 2BR house+5-car garage.
  • Larger corner lot; fenced & maintained landscaping.
  • Brand new hot water tank. (05/05/2021; I incidentally witnessed them taking the old one out!)
  • Covered front porch/sunroom + covered rear patio.
  • Proximate to Myer Park & Renziehausen Park Rose Garden and Arboretum, Serra Catholic High School; walkable to restaurants/bars, groceries, pharmacy, etc.

Can perhaps put a 2nd bath in if desired someday since it was built with one initially. Can also creatively ponder a 3rd BR… the sq. footage supports it.


Full rental potential of a good $1,475. By the time the tenants move should be scraping $1k/month JUST for the dwelling. Update garage doors to get at least $75/stall, $100 more likely. Until then you can just sit back and collect the ≈10% from 6 silent tenants, 2⁄3 of whom pay 3-6 months in advance.

Realistic ARV with the garage that size is over $100k; here’s a 2/1 with a 1-car garage that sold last week for $99k:
2116 Park Ln, Mckeesport, PA 15132 | Zillow

McKeesport property values are progressively surprising; this 4/1 sold last year for $142,600:
431 26th St, Mckeesport, PA 15132 | Zillow

 

Certainly a deal since it was tax-assessed at $55k. Taxes will actually go down a bit with last assessment being above the asking price!

Quite a decent street!


*if a long-term rental ~⅓ of the price is more for you,, here is my other over there: 1407


  • Taxes: $2,531
  • Electric: Updated
  • Plumbing: Updated
  • Kitchen: OK
  • Bath: OK
  • Roof: 13 yrs old
  • Furnace: 6 yrs old
  • Hot Water Tank: Very new (05/2021)
  • Windows: Double-paned
  • Floors: 2+
  • Parking: 5-car detached garage
  • Rental Income: $750/mo total ($500 house + $250 garage [$50×5])
Price:
$47,901
Address:
401 28th St
McKeesport, PA 15132
Square Feet:
1,339
Lot Size:
3,409
Bedrooms:
2
Bathrooms:
1
Terms:
For Sale
Property Type:
Home
Year Built:
1930
Basement:
Full; unfinished
Const. Type:
Frame

Call (800) 788-9882 for more details

Property Location