5-BR/2 full BA original in the Heart of Homewood priced at ¼ ARV – partial rehab only

Property:

• as of 10/2022, the value of this property as it sits is measured between $57,000 & $78,500
• covered back patio & decent fenced yard
• original 100+ year-old doors, bay window, ornamental features
• central heat, BRYANT
• resides on a pretty prominent East End street
  –extremely central; in city limits

#s

ARV of $200k – $240k per very recent comps, and it being 1 of a few of its type left. (for what it’s worth, if this property hit Point Breeze borders it would have an ARV of about $1M!)

* rent-ready repairs/updates est. 17.6% cap at $1,550/month rent (15-20% higher if you swing some HACP accessible features)

* nice restoration/updates for resale est. cash return between $80& $95k

09/2022 update: neighbor just closed at $230k… very nice new comparable (can see in linked photos below).

Keep the history alive alongside the community redev efforts by proudly owning one of the endangered Single-Families of Homewood!! In Ward 13 / Pittsburgh City Limits–somewhere between a HandyMan Special & a revamp || has somewhat newer furnace & hot water tank, updated electric+plumbing, original components, & a welcomed ton of natural character.

Neighborhood + Area Redevelopment

-Wholesome area, in a Sea of Churches & development/redevelopment.

-Homewood is now in Stage 5 of the Homewood Comprehensive Community Plan. The plan paired w/community vigilance secured some protection of historic dwellings for area preservation, so the home has potential to reside with the other rehabbed showpieces (https://pittsburghpa.gov/dcp/homewood-plan).

—Newer properties resultant of the effort have been selling over $200k for some time now.

Photos, comps, & locale say it all; these particular 15208 properties go very quickly so I will prioritize walking you through.

ALL PHOTOS

• Taxes: $1,082
• Electric: Updated
• Plumbing: Updated
• Kitchen: Needs updating
• Bath: Needs updating (2)
• Roof: 13 yrs old
• Furnace: 6 yrs old
• Hot Water Tank: 5 yrs old
• Windows: Double-paned
• Floors: 2.5
• Parking: On-street, PLENTY
• Rental Income: vacant; WAS $1,200/mo
• Rental Potential: $1,425-$1,850/mo