Multifamily Property with Outdoor
For Sale
$399,500
1107 Greenfield Avenue, Pittsburgh, PA 15217
Multi-unit residence offers a front porch, balcony, rear decks, basement storage, and access to nearby schools, shopping, and transportation.
Property Size2,600 SF
Price / SF$153.65
Days on Market398
Property Features for 1107 Greenfield Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi Family
Amenities
porch
balcony
deck
basement storage
6
2
Listing Agency:
For sale by owner, please contact
Listed By:
Fizber
Source:
Compass
Added: Aug 2, 2025
Changed: Sep 2
Last Checked: Sep 2 at 12:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of For sale by owner, please contact
Investment Insights
Based on property information with market context.
This multifamily residence includes a front porch, balcony, and small rear decks, along with substantial basement storage. The basement may also offer the possibility of creating an additional unit. The property is currently configured as a multi-unit dwelling and could be adapted to single-family use by removing two doors.
Located at 1107 Greenfield Avenue in Pittsburgh, the property is situated near schools, shops, and transportation. The waterfront shopping and entertainment area is also nearby.
Located at 1107 Greenfield Avenue in Pittsburgh, the property is situated near schools, shops, and transportation. The waterfront shopping and entertainment area is also nearby.
Key Highlights
- Multi‑unit dwelling with potential conversion to single‑family use
- Front porch and balcony, plus small rear decks
- Basement provides substantial storage space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,422
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$548,440
$548.4K
Cap Rate 7%
$391,743
$391.7K
Cap Rate 9%
$304,689
$304.7K
Market Conditions
NOI Build-Up for 2,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.0K $20.40/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$49.9K $19.18/SF
− OpEx
−$22.4K −$8.63/SF
NOI
$27.4K $10.55/SF
Area
Pittsburgh, PA
Vacancy
6.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$548,440
Cap Rate 7%
$391,743
Cap Rate 9%
$304,689
Alternative Uses
Best Use
Apartment 5plus
$391.7K
$342.8K – $457.0K
NOI $27,422 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.0K
$724.5K – $966.1K
NOI $57,963 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 15217, PA
26,851
Population
12,582
Households
2.1
Avg Household Size
36
Median Age
74%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
6,885
Density / Sq Mi
$91,695
Median Household Income
$55,890
Median Earnings
$1,412
Median Rent
$431,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit residence offers a front porch, balcony, rear decks, basement storage, and access to nearby schools, shopping, and transportation.
Where is this multifamily property located?
The property is located at 1107 Greenfield Avenue Pittsburgh, PA.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Multi‑unit dwelling with potential conversion to single‑family use; Front porch and balcony, plus small rear decks; Basement provides substantial storage space
