Turnkey, fully renovated mixed-use — 3 income units Westmoreland County · APN 14-01-16-0-034 · Deal Ref CLAY605
100% leased — all three units occupied and paying at closing
Fully renovated — seller reports no roof, electrical or plumbing issues
Solid brick — tuck-pointed masonry, cheaper to keep and insure
Separately metered — tenants pay their own utilities
📸 8 photos
📊 The Deal Meter — annual return vs. where money usually sits1
at a
tax bracket
Year one with a cost-segregation study: $0 of depreciation, sheltering this deal's income and about $0 of tax on other income. Interest and stock returns are taxed on the same footing. Assumes you can use the loss — passive-activity rules decide that; see note 1.
Most "cash-flowing" buildings at this price come with a rehab bill, a vacancy, or a tenant problem attached. This one arrives finished, full, and paying.
Fully Renovated Bruce hardwood lobby, a new back kitchen, a new bathroom and shower, and tuck-pointed masonry. Asked directly whether anything was left to repair — roof, electrical, plumbing, structural — the seller answered no. That is his account of the condition, not a warranty: the agreement states the seller does not warrant that prior work was permitted or to code, and no replacement dates or contractor warranties exist on record. The roof is a flat, dark rubber membrane; its age is undocumented. An inspection is the way to price remaining life — see note 6.
100% Leased All three units occupied and paying rent right now. Income starts at closing; there is no lease-up period to survive.
Solid Brick Construction Tuck-pointed masonry on an early-1900s build — the kind of structure that costs less to maintain and insures more easily than frame.
Every Unit Separately Metered Three gas meters and four electric meters, so tenants pay their own utilities and sewer, water and trash are reimbursed. Your expense line stays small and predictable.
Two Income Types, One Roof A ground-floor commercial office plus two apartments. If one side of the market softens, the other still pays — diversification inside a single building.
Commercial Anchor Already in Place A real-estate brokerage on a three-year lease, two years in — a business tenant with every reason to renew where it sits.
Private Off-Street Parking A 20-slot lot (10-car tandem) attached to a downtown block. Nearly impossible to find at this price point, and a genuine leasing advantage for every unit.
Finish Level Rare at This Price Carrara marble kitchens and baths, Bruce hardwood floors, Juliet balconies. This rents at the top of its street rather than the bottom.
Low Cost to Carry Property taxes run about $2,400 a year and insurance about $5,800, with tenants covering utilities — which is exactly why the cash flow holds up.
Built-In Rent Upside The office is leased at roughly $9.70 per square foot on renovated space — below market. Renewal is an opportunity, not a risk.
No Month-to-Month Exposure Every tenant is on a written lease with no handshake arrangements to unwind after closing.
Priced Under the Street's Last Sale 207 Clay Avenue traded at $499,000 all cash in October 2025. This one asks 24% below that number.
Same street. Same class of building. One sold on the open market ten months ago — the other is in front of you because you're inside The Deal Vault.
The Market
207 Clay Avenue
Commercial · sold October 2025 · all cash · open market
$499,000
What the street's last comparable sale actually closed at, per county records.
The Deal Vault · Members Only
605 Clay Avenue
Mixed-use · 3 income units · 100% occupied · turnkey
$379,000
Your price today as an invited member — before this ever reaches the open market.
$170,000Equity on day one
34%Below the street's last sale
$42,800And it pays you yearly
🧾 Tax Advantages — Why Real Estate Beats a Savings Account Twice4
The Deal Meter above compares pre-tax returns. Real estate wins a second time on the tax side — interest from a savings account, CD, or money market is taxed as ordinary income with nothing to offset it, while an income property generates paper losses that can shelter the cash it pays you.
Depreciation — the phantom deduction. The IRS lets you write off the building (not the land) every year even while it appreciates: 27.5 years on the residential portion, 39 on the commercial. On a building at this price that's roughly $7K–$10K a year of deductions against income you actually collected.
Cost segregation — pull those years forward. An engineering study reclassifies flooring, fixtures, appliances, cabinets, landscaping and parking into 5-, 7- and 15-year buckets instead of 27.5/39. On a fully renovated building like this one — where the components are new — a study typically frees up a large first-year deduction instead of dribbling it out over decades. Studies on small commercial run about $3K–$8K and are usually ordered right after closing.
Bonus depreciation. Federal rules let a chunk of those short-life components be deducted immediately in year one. The percentage has changed several times in recent years — your CPA will confirm what applies to your acquisition date.
Every operating dollar is deductible. Taxes, insurance, repairs, management, travel to the property, professional fees — all offset rental income before you're taxed.
Cash flow can arrive tax-sheltered. Combine depreciation with operating deductions and the taxable income on a cash-flowing building is often far below the cash it actually distributes — sometimes zero, sometimes a paper loss, while the money still hits your account.
1031 exchange on the way out. Sell and roll the proceeds into a like-kind property inside the IRS timelines and the capital-gains bill is deferred, not paid — investors compound into bigger assets without stopping to pay tax on each step.
Tenants retire the debt for you. On a financed purchase, principal paydown is wealth you build without writing a check — it isn't return the Deal Meter counts, and it isn't taxed as it accrues.
Step-up in basis. Held to the end, heirs generally inherit at current market value — the deferred gain can disappear entirely for the estate.
📍 Location — Jeannette, PA · Westmoreland County · Pittsburgh Metro5
The Deal Meter.The inflation line is the real hurdle: anything below it is losing purchasing power every year, even when the balance goes up. Illustrative typical annual rates for comparison only — savings, CD, and money-market are interest-bearing products shown for reference, not recommendations or offers; stock market = long-run S&P 500 average; typical rental = average U.S. cap rate. This deal's figures are the in-place cap rate and financed cash-on-cash* from the math below. Verify everything independently. Not investment advice. Tax-advantages view: switching it on shows the year-one economic return with a cost-segregation study, and taxes every line on the same footing — savings, CD and money-market interest as ordinary income at the bracket you pick, the stock line at long-term capital-gains rates, the typical-rental line partially sheltered. For this deal it assumes land at 20% of price, 25% of the remaining building basis reclassified by a cost-segregation study into 5-, 7- and 15-year property and deducted in year one under current bonus-depreciation rules, the balance straight-lined 27.5-year residential / 39-year commercial by floor area, and on the financed line year-one mortgage interest deducted as well. The single biggest condition: it assumes you can actually USE the resulting loss. Under the passive-activity rules most investors cannot deduct rental losses against wages or portfolio income — the loss is suspended and carried forward until you have passive income or sell. Investors who qualify as real estate professionals, or who materially participate in a short-term rental, generally can. That single fact can be the whole difference between the toggled number and your reality. Also: the boost is year one only and does not repeat; a cost-segregation study itself costs roughly $3,000-$8,000; the accelerated depreciation is recaptured when you sell; state tax is ignored; brackets are marginal rather than effective; bonus-depreciation percentages have changed repeatedly and depend on your acquisition date; and the financed line leans on the mortgage-interest deduction, so the all-cash line is the cleaner comparison. This is an illustration at an assumed rate, not a computation of your taxes. Confirm every figure with your own CPA before relying on any of it.
Underwritten View. Applies a 5% vacancy allowance + 8% off-site management even though the building is 100% occupied and currently self-managed — the deal still clears double-digit returns with both handicaps on.
The Comparable Sale & “Equity on Day One”. Comparable sale per county records (via PropertyRadar). Unrenovated buildings on the same street have traded far lower — the $499K print reflects the renovated, tenanted premium this building shares. "Equity on day one" is the arithmetic difference between that comparable sale and this asking price; it is an illustration, not an appraisal, a guarantee of value, or a promise of resale price. One comparable sale is not a valuation — order your own appraisal and verify everything independently.
Tax Treatment.This is general education, not tax advice. Depreciation schedules, bonus percentages, passive-activity limits, who may use a loss, mixed-use allocations between the commercial and residential portions, and 1031 timelines all depend on your situation and current law — and depreciation is recaptured when you sell. Run every number with your own CPA or tax attorney before relying on it. Mr Buyer is not a licensed tax, legal, or accounting advisor.
Local Rules in Jeannette. Jeannette has no landlord-licensing regime in force the 2025 proposal (Ord. 25-06) was tabled and never adopted, as was its commercial counterpart (25-07). What applies today is the codified rental ordinance (Ord. 15-04, amended 21-04 / 23-04): an occupancy inspection at $100 per unit, required before a new tenant moves in and at least every ten years for buildings of one to three units. That reaches the two residential apartments only the ground-floor commercial office falls outside the "dwelling unit" definition and runs on a separate track. The city already accepts an owner or a local owner's representative for inspection access, so no professional property-management company is required. Note the tabled ordinance could be revived by Council at any time; if it were, its own text names an "adult individual" as the local designee, not a management firm. Confirm current requirements and fees with Jeannette Code Enforcement, (724) 527-4000 ext. 20, before closing. Location snapshot — approximate figures for orientation; verify independently (see disclaimers).
Condition & Renovation Claims. Statements about the building's condition — including that the roof, electrical, plumbing and structure need no repair — are the seller's own account, given on a recorded call on 2026-08-21, and are reproduced here as his representation rather than as our verified finding. No replacement dates, permits, contractor names or transferable warranties exist on record for the roof or any building system; Jeannette maintains no online permit portal and the county assessment carries no year-built or roof data. The purchase agreement expressly states the seller does not warrant that prior work was permitted or performed to code. The roof is a flat, low-slope dark rubber membrane visible in the seller's own photograph; its age and remaining life are undocumented, and dated aerial imagery shows a dark flat roof present as early as 2020. Buyers should treat remaining roof life, system ages and permit status as open items and satisfy themselves by independent inspection before closing.
