As far as the rust belt goes, Pittsburgh is actually doing better than many of its counterpart cities… REO fever is spreading, but it has not swallowed up whole swaths of the city like it has in other places. This handsome four-square colonial revival in the Brighton Heights area of Pittsburgh is listed for $49,900. This house was purchased three years ago for $79,900 (5/25/2005), and Zillow.com now estimates its value at $108,000, which actually seems reasonable (unlike many recent Zillow valuations).This REO is situated on a nice street in a nice neighborhood, and will likely require just a minor makeover renovation ($5,000 +/-) to make it really shine. This house could be rented for $700 to $800 per month, easily covering the mortgage and other expenses and providing a small positive monthly cash flow to an investor. Or, alternately, this house could be a great opportunity for an owner-occupant who wants to be close to downtown.
The basics...
Address: 2052 Termon Avenue, Pittsburgh, PA 15212
Current Listing Price: $49,900
PREVIOUS Sale Price: $79,900 (5/25/2005)
Size: 3 Bedrooms, 1 Bathroom; 1,800 square feet
Lot: .10 acres
http://www.realtor.com/realestate/pittsburgh-pa-15212-1099784587/
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