Score
0Carnegie, PA
1630 W Railroad St
105K
1 beds
2 baths
1 bd • 2 ba • sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$105,000
Price/Sq.Ft
$105,000
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 1630 W Railroad St, Carnegie, PA 15106 offers several positive aspects:
1. Affordable Price Point: At $105,000, this property is priced significantly below the median home value in Carnegie (estimated around $180,000), making it an attractive option for first-time homebuyers or investors.
2. Location: The property is situated in Carnegie, which is approximately 5 miles southwest of Pittsburgh, offering a balance between small-town living and proximity to a major city. This location could be appealing for commuters.
3. Unique Exterior: The home features an attractive combination of stone and vinyl siding, giving it a distinctive look that stands out from neighboring properties.
4. Front Porch: The covered front porch adds charm and provides additional outdoor living space, which can be a desirable feature for many buyers.
5. Potential for Appreciation: Given the affordable entry price and Carnegie's ongoing revitalization efforts, there may be potential for property value appreciation over time.
6. Rental Potential: With a median income of $62,658 in the area and average one-bedroom rental rates at $920/month, this property could potentially generate a gross rental yield of around 10.5% annually if used as an investment property.
7. Extra Bathroom: Despite being a one-bedroom home, it offers two bathrooms, which is an unusual and potentially valuable feature for a property of this size.
The Bad
1. Size Limitations: With only one bedroom, the property may have limited appeal to families or those needing more space. The exact square footage is unknown, but it appears to be relatively small compared to average homes in the area.
2. Age and Potential Maintenance Issues: While the exact year built is unknown, the property appears to be older, which could mean higher maintenance costs and potential updates needed for major systems (HVAC, plumbing, electrical).
3. Foundation Concerns: The visible portion of the foundation appears to be aging concrete block, which may require repairs or waterproofing. This could be a significant expense.
4. Limited Information: The lack of detailed information about features, utilities, and systems makes it difficult to fully assess the property's condition and value.
5. Potential Flood Risk: Given Carnegie's proximity to Chartiers Creek and the property's location on Railroad Street, there may be an elevated flood risk. This could impact insurance costs and future resale value.
6. Steep Steps: The front entrance has a steep set of stairs, which could be a concern for accessibility, especially in winter months or for older residents.
7. Limited Off-Street Parking: There doesn't appear to be a garage or dedicated off-street parking, which can be a drawback in an area where parking can be challenging.
The Ugly
1. Possible Structural Issues: The visible sagging of the front porch roof suggests potential structural problems that could be costly to repair. This may indicate broader structural concerns throughout the house.
2. High Property Taxes: Allegheny County is known for high property taxes. Even at the low purchase price of $105,000, annual property taxes could be around $2,500-$3,000, which is a significant ongoing expense relative to the property value.
3. Potential Environmental Hazards: Given the age of the home and its location near a railroad, there may be concerns about lead paint, asbestos, or soil contamination that would require expensive remediation.
4. Limited Resale Market: The unique layout (1 bedroom, 2 bathrooms) and small size may significantly limit the pool of potential buyers when it comes time to sell, potentially impacting future appreciation.
5. Zoning and Land Use Concerns: The property's proximity to the railroad could mean exposure to noise pollution and potential future land use changes that could negatively impact property values.
6. Hidden Costs: The low purchase price likely means the new owner will need to invest significantly in updates and repairs. Without a thorough inspection, these costs are unknown but could easily exceed $20,000-$30,000 or more.
7. Possible Title Issues: Older properties in established neighborhoods can sometimes have complicated title histories. A thorough title search would be crucial to ensure there are no liens or ownership disputes.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. First-time homebuyers with limited budgets who are willing to take on a project. The low price point of $105,000 makes it accessible for those with household incomes around $35,000-$45,000 annually.
2. Investors looking for a potential rental property. With average one-bedroom rents at $920/month, this could yield a gross rental income of about $11,040 annually, potentially offering a strong return on investment if purchased for $105,000.
3. DIY enthusiasts or contractors who have the skills to renovate and potentially flip the property. The low purchase price leaves room for improvements that could significantly increase its value.
4. Singles or couples who don't need much space and prioritize location over size. The property's proximity to Pittsburgh (about 5 miles) could make it attractive for young professionals.
5. Buyers looking for a pied-à-terre or part-time residence in the Pittsburgh area, who don't need a large living space but want the benefits of homeownership.
6. Those interested in Carnegie's ongoing revitalization, who believe in the area's potential for growth and are willing to invest early in the process.
Not For
This property is not suitable for:
1. Families or individuals needing more than one bedroom. The limited space makes it impractical for those requiring multiple bedrooms or expansive living areas.
2. Buyers seeking a move-in ready home. The apparent need for updates and potential structural issues mean this property isn't ideal for those wanting a turnkey solution.
3. Individuals with mobility issues or the elderly, due to the steep front stairs and potential need for extensive renovations.
4. Risk-averse investors or homebuyers. The potential for high renovation costs, structural issues, and limited resale market make this a high-risk investment.
5. Luxury home seekers. The property's size, location, and condition do not align with high-end or luxury market expectations.
6. Those with a household income below $35,000, as the combination of mortgage payments, high property taxes, and necessary renovation costs could create financial strain.
7. Buyers looking for modern amenities or energy-efficient homes. The age and condition of the property suggest it likely lacks up-to-date features and may have poor energy efficiency.
8. Individuals sensitive to noise or pollution, given the proximity to the railroad and potential environmental concerns associated with older properties in industrial areas.
Demographics
Area Median Income
$62,658
Property History
Price History
Ownership Timeline
$0Cash Purchase
Sep 8, 2023Joseph Yun, Limee YunL T H Pittsburghone L L C
Special Warranty Deed
Non-Arm's Length Transactions
$34,900Cash Purchase
Dec 13, 2019Carlton Capital LlcBridge City Holdings Llc
Warranty Deed
Non-Residential Arm's Length Transactions
$38,000Cash Purchase
Nov 27, 2002The Bachurski Trust, Anna M BachurskiGeorge H Nassif
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Apr 20, 2002Anna M BachurskiThe Bachurski Trust, Anna M Bachurski
Intrafamily Transfer
Non-Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (1 bed)
Get a detailed estimate on Zillow$920
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