519 Euclid Ave, Canonsburg, PA 15317 — 29.1% Cash-on-Cash

About this property

519 Euclid Ave is a 4-bedroom, 2-bath duplex in Canonsburg, PA, spanning 2,132 sq ft and listed at $189,900 after zero price reductions in 20 days on market.

The listing describes a turnkey duplex with two occupied units, each carrying two bedrooms, one bath, in-unit washer/dryer, and a dedicated parking space. Recent work includes fresh paint, new carpeting, and a renovated rear deck — updates that reduce near-term capital expenditure risk and support tenant retention. The property generated $21,000 in gross rental income in 2025, which provides a rare anchor of actual operating history rather than pure projection.

The lot is compact at 3,598 sq ft, which limits maintenance overhead. Public records show a tax-assessed value of $94,800 against a $189,900 ask — a meaningful gap that reflects either a lagging assessment cycle or market pricing well above assessed value; either way, it's a figure worth tracking at the next reassessment. The property is non-owner-occupied and carries no HOA fees, two structural advantages for a pure income play. At 20 days on market with no price cut, seller motivation appears limited, but the deal's fundamentals don't require a discount to work.

The investment case

The financial profile here is unusually clean: a 29.1% cash-on-cash return against a city average of -1.0%, driven by a purchase price well below the Canonsburg median and rent that covers debt service by a wide margin.

List Price

$189,900

Monthly Payment (PITI+HOA)

$1,247

Principal & Interest

$985

Property Tax

$199

Insurance

$63

HOA

$0

PMI

$0

Est. Monthly Rent

$2,169

Estimated rent based on automated valuation of comparable listings.

Cash-on-Cash Return

29.1%

Cap Rate

13.3%

Monthly Cash Flow

$922

Gross Rent Multiplier

7.3

DSCR

2.1

At a $189,900 listing price with 20% down, the all-in monthly payment runs $1,247 — principal and interest at $985, taxes at $199, and insurance at $63, with no PMI and no HOA drag. Estimated monthly rent of $2,169 leaves $922 in monthly cash flow, which annualizes to roughly $11,064 before vacancy and maintenance reserves.

The cap rate of 13.3% and net operating income of $2,106/month are the numbers that contextualize the deal beyond leverage. A 13.3% cap rate means the property would still pencil as a cash purchase — the debt is amplifying a return that already exists in the asset. The debt service coverage ratio of 2.1 confirms it: rent covers the mortgage payment more than twice over, giving the investment a substantial buffer against vacancy or rent softness.

The gross rent multiplier of 7.3 is the most direct valuation shortcut. At the Canonsburg median listing price of $310,000, a comparable rent stream would imply a GRM roughly double that figure. This property is priced at 61% of the city median, which is where the yield originates. Figures exclude depreciation tax benefits, which vary by individual tax situation. The 29.1% CoC also ranks as the tenth-best deal in Canonsburg by that metric, meaning this property sits at the very edge of the city's top-10 leaderboard — a strong cash-flow market by any local standard.

Annual return outlook

The projected 37.9% five-year total ROI is front-loaded with cash flow, with appreciation and mortgage paydown as secondary contributors.

The ROI breakdown assigns 29.1% to cash flow, 3.8% to appreciation, and 4.9% to mortgage paydown. Cash flow is doing the heavy lifting here — it accounts for roughly 77% of the projected total return. That's a different profile than most residential investment deals, where appreciation typically dominates and cash flow is thin or negative.

The 3.8% annual appreciation figure is drawn from market data for Canonsburg. On a $189,900 basis, that's approximately $7,200 in value added in year one, compounding modestly over the hold period. It's a real contributor but not the thesis — if appreciation stalls or reverses, the cash flow component still produces a return most investors would find acceptable on its own.

Mortgage paydown at 4.9% reflects the equity accumulation from principal reduction over five years at the 6.55% rate. It's the quietest component but guaranteed assuming no refinance or sale. Combined, the three levers produce a return profile that doesn't depend on any single variable performing perfectly.

For a five-year hold, the math works even in a flat appreciation environment — cash flow and paydown alone approach 34% combined return.

How it compares to nearby for-sale listings

Five active 4-bedroom listings in ZIP 15317 provide pricing context, with a median asking price of $474,990 — more than 2.5 times the 519 Euclid Ave ask.

519 Euclid Ave at $189,900 sits 60% below the for-sale comp median of $474,990 in the same zip code. On a price-per-square-foot basis, the property's 2,132 sq ft at $189,900 implies roughly $89/sq ft. The nearest comp by size, a 1,800 sq ft property at $395,000, implies $219/sq ft — nearly 2.5 times the per-foot cost. Even adjusting for property type differences, the pricing gap is substantial.

The comp set skews toward newer or larger single-family homes, with prices ranging from $395,000 to $2,100,000. None of them are income-producing duplexes at this price point, which makes direct comparison imperfect but also highlights the scarcity of yield-oriented inventory in 15317. A buyer comparing 519 Euclid Ave to those listings is making a fundamentally different investment decision — one prioritizing income over square footage or finishes.

Days on market across the comp set range from 1 to 7 days, suggesting active buyer demand in the zip at higher price points. At 20 days, 519 Euclid Ave has been available longer, which may reflect the narrower pool of income-focused buyers rather than any pricing problem — the asking price is already well below market for the area.

Rental demand in this zip

There are no active 4-bedroom rental listings in ZIP 15317 to benchmark against, which makes the estimated $2,169/month rent both the best available figure and the primary uncertainty in the cash-flow model.

With zero comparable rentals in the zip at the 4-bedroom tier, the $2,169/month rent estimate carries less statistical support than it would in a denser rental market. That's a real caveat. The offset is that the property has actual 2025 rental income on record — $21,000 gross, which implies roughly $1,750/month per unit if split evenly across two units, or a blended figure that may include months of full occupancy at varying rates. The $2,169 estimate is plausible but should be stress-tested against that $21,000 gross history before closing.

The duplex structure provides a natural hedge: two units means a single vacancy doesn't eliminate all income. At the estimated rent, even one unit vacant for two months in a year still produces enough gross income to cover the $1,247 monthly payment with margin.

The absence of rental comps in 15317 at this bedroom count also signals limited competing supply, which can support rent stability. Thin rental inventory cuts both ways — it's harder to price with confidence, but it also means tenants have fewer alternatives. The 2025 occupancy history (both units currently occupied per the listing) is the most reliable signal available.

Who this property suits + risks to weigh

This property fits an income-first investor who wants yield from day one and can absorb the uncertainty of a thin local rental comp base.

Best fit

The deal is best suited to a buyer who values current cash flow over appreciation upside — someone building or expanding a rental portfolio rather than betting on price appreciation. The turnkey condition, existing tenants, and documented 2025 income reduce the execution risk that typically accompanies value-add plays. The $189,900 price point means a 20% down payment of roughly $37,980, making this accessible to investors who don't want to tie up large amounts of capital in a single asset. The package deal option — the listing mentions two additional Canonsburg properties available together — may appeal to a buyer looking to scale quickly in a single market.

Risks to weigh

The tax-assessed value of $94,800 against a $189,900 purchase price is a flag worth examining. If the county reassesses closer to purchase price, the $199/month tax figure could increase materially, compressing cash flow. The 1.25% effective rate applied to a higher assessed value would add hundreds per year to operating costs.

Rental comp scarcity in ZIP 15317 means the $2,169 rent estimate isn't anchored to a deep market. If rents run closer to the $1,750 implied by the 2025 gross income history, monthly cash flow drops but the deal still cash-flows positively given the low debt service. The lot size of 3,598 sq ft limits any future development optionality. And as with any duplex, tenant turnover in both units simultaneously would create a short-term cash flow gap that requires reserves to bridge.