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286 Arden Rd
Pittsburgh, PA

286 Arden Rd

$536,900
3 bd • 1 ba • 2,113 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$536,900

Price/Sq.Ft

$254

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 286 Arden Rd, Pittsburgh, PA 15216 offers several attractive features. At 2,113 sqft, it's 41% larger than the average 3-bedroom home in Pittsburgh (1,500 sqft). The price per square foot of $254.09 is competitive for the area, especially given the size. The home's colonial style architecture with distinctive blue shutters and door adds curb appeal. It's situated on a corner lot with a spacious front yard, providing more outdoor space than typical urban properties. The driveway offers off-street parking, a valuable asset in Pittsburgh where parking can be challenging. The property appears well-maintained with manicured landscaping, suggesting pride of ownership.

The Bad

While spacious, the property has only one bathroom for three bedrooms, which is below the current market preference for at least 1.5 baths in homes this size. This could necessitate a costly bathroom addition ($15,000-$25,000) to meet modern expectations. The asking price of $536,900 is 30% higher than Pittsburgh's median home value of $412,000, which may limit the buyer pool. The lack of detailed information about the year built, utilities, and systems raises concerns about potential hidden issues and necessary updates, especially given Pittsburgh's older housing stock.

The Ugly

Given Pittsburgh's topography, the property's elevated position with steps leading to the entrance could pose accessibility issues, especially during winter. This may require additional maintenance costs for snow removal and potential liability risks. If the home was built before 1978 (likely given the style), there's a high risk of lead paint and possibly asbestos, requiring testing and potentially costly remediation ($10,000-$30,000). The visible chimney suggests a fireplace or old heating system, which may need inspection or replacement ($5,000-$15,000 for a new furnace). The property's corner location, while offering more space, also means more sidewalk to maintain and clear of snow, increasing winter maintenance costs and effort.

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. Growing families needing extra space, willing to add a bathroom. 2. Buyers with household incomes of $160,000+ (based on a 28% front-end DTI ratio for a 30-year mortgage at current rates). 3. Those who appreciate historic charm and are prepared for the maintenance of an older home. 4. Professionals working in downtown Pittsburgh, as the 15216 zip code offers a reasonable commute. 5. Buyers who value off-street parking and outdoor space in an urban setting.

Not For

This property is not ideal for: 1. First-time homebuyers or those with limited budgets, given the above-median price point. 2. Individuals with mobility issues, due to the front steps and potential for interior stairs. 3. Buyers looking for a move-in ready, modern home with multiple bathrooms. 4. Investors seeking immediate high rental yields, as the purchase price may limit cash flow potential. 5. Those unprepared for the potential costs and challenges of maintaining an older home in Pittsburgh's climate.
Demographics
Area Median Income

$66,770

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Risk Assessment

Risk Analysis

1. Potential foundation issues due to Pittsburgh's hilly terrain (inspection crucial, repair costs could exceed $10,000). 2. Likely presence of lead paint and possibly asbestos if built pre-1978, requiring testing and remediation. 3. Outdated electrical, plumbing, or HVAC systems common in older Pittsburgh homes (full system updates could cost $20,000-$50,000). 4. Possible water infiltration issues due to the elevated lot position (waterproofing could cost $5,000-$15,000). 5. Risk of higher heating costs due to older construction and potential lack of modern insulation. 6. Potential for higher property taxes given the above-median price point (could be 20-30% higher than average). 7. Market volatility risk: Pittsburgh's market has been stable, but the higher price point may limit appreciation potential in the short term.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$347,667

-35.2% below list price

Median Price

$375,000

Based on 6 recent sales

Price per Sq.Ft

$175

Comparable Properties

122 Abington Dr, Mt. Lebanon, PA 15216
Price: $240,000
Sq.Ft: 2,100
Beds/Baths: 4/2
$/Sq.Ft:
$11455.0%
Sale Date: 10/5/2024
39 Florence Pl, Mt. Lebanon, PA 15228
Price: $380,000
Sq.Ft: 1,782
Beds/Baths: 4/2
$/Sq.Ft:
$21316.1%
Sale Date: 11/14/2024
1242 Hillsdale Ave, Dormont, PA 15216
Price: $300,000
Sq.Ft: 1,901
Beds/Baths: 3/2
$/Sq.Ft:
$15837.9%
Sale Date: 10/9/2024
271 Atlanta Drive, Mt. Lebanon, PA 15228
Price: $435,000
Sq.Ft: 2,156
Beds/Baths: 4/2
$/Sq.Ft:
$20220.6%
Sale Date: 8/26/2024
447 Greenhurst Dr, Mt. Lebanon, PA 15243
Price: $375,000
Sq.Ft: 2,221
Beds/Baths: 3/2
$/Sq.Ft:
$16933.6%
Sale Date: 8/30/2024
433 Clokey Ave, Mt. Lebanon, PA 15228
Price: $356,000
Sq.Ft: 1,813
Beds/Baths: 3/2
$/Sq.Ft:
$19622.7%
Sale Date: 8/29/2024

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