Historic Brick Duplex with Vacant
For Sale
$489,900
1301 Veto St, Pittsburgh, PA 15212
Two two-bedroom units with updated bathrooms, separate gas and electric meters, and additional land for parking or future improvements.
Property Size1,972 SF
Price / SF$248.43
Days on Market76
Property Features for 1301 Veto St
General Information
Standard status
Active
Size
1,972 SF
Property subtype
Residential Income
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,600
Building Details
Construction
brick
Listing Agency:
HOWARD HANNA REAL ESTATE SERVICES
Listed By:
Mario Costanzo
(724) 934-3400
Source:
Exprealty
Added: Jul 10
Changed: Sep 21
Last Checked: Sep 22 at 9:49PM
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 HOWARD HANNA REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This circa-1900 brick duplex contains 1,972 square feet and is arranged as two units, each with two bedrooms and one full bathroom. The property includes original architectural details, including a newel post and staircase, along with updated bathrooms, furnaces, and hot water tanks. Gas and electric service are separately metered, while both units share one water line. The property is being offered as-is.
The Gentry Way unit has a contemporary interior arrangement with a kitchen entry, formica cabinetry, a newer five-burner gas range, refrigerator, dishwasher, and two pantries. Large windows and a center-hall skylight provide natural light, while the upper level includes a Jack-and-Jill bathroom and second-floor laundry.
Two adjoining vacant lots expand the site beyond the duplex. A 20-by-50-foot lot is used for off-street parking and plantings, and a 20-by-60-foot lot offers additional outdoor area. The property is located at 1301 Veto St in Pittsburgh’s Mexican War Streets, within walking distance of AGH, North Shore dining and shopping, and North Shore cultural landmarks.
The Gentry Way unit has a contemporary interior arrangement with a kitchen entry, formica cabinetry, a newer five-burner gas range, refrigerator, dishwasher, and two pantries. Large windows and a center-hall skylight provide natural light, while the upper level includes a Jack-and-Jill bathroom and second-floor laundry.
Two adjoining vacant lots expand the site beyond the duplex. A 20-by-50-foot lot is used for off-street parking and plantings, and a 20-by-60-foot lot offers additional outdoor area. The property is located at 1301 Veto St in Pittsburgh’s Mexican War Streets, within walking distance of AGH, North Shore dining and shopping, and North Shore cultural landmarks.
Key Highlights
- Circa‑1900 solid brick duplex with 1,972 square feet
- Two units, each with 2 bedrooms and 1 full bath
- Updated bathrooms, furnaces, and hot water tanks
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
$22,458
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
4.58%
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%
$449,160
$449.2K
Cap Rate 7%
$320,829
$320.8K
Cap Rate 9%
$249,533
$249.5K
Market Conditions
NOI Build-Up for 1,972 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
$34.3K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$32.1K $16.27/SF
− OpEx
−$9.6K −$4.88/SF
NOI
$22.5K $11.39/SF
Area
Pittsburgh, PA
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$449,160
Cap Rate 7%
$320,829
Cap Rate 9%
$249,533
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.3K
NOI $22,458 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$297.1K
$260.0K – $346.6K
NOI $20,798 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$628.0K
$549.5K – $732.7K
NOI $43,963 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,361
Businesses Nearby
Explore this area
Business Placement
Demographics for 15212, PA
27,016
Population
15,937
Households
1.7
Avg Household Size
38
Median Age
37%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,658
Density / Sq Mi
$61,712
Median Household Income
$45,325
Median Earnings
$1,114
Median Rent
$167,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units with updated bathrooms, separate gas and electric meters, and additional land for parking or future improvements.
Where is this duplex located?
The property is located at 1301 Veto St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Circa‑1900 solid brick duplex with 1,972 square feet; Two units, each with 2 bedrooms and 1 full bath; Updated bathrooms, furnaces, and hot water tanks
