This historic house, featured twice on the Friendship House Tour, was completely remodeled in 2001 by Friendship Development Associates. But it’s the rental property inside that makes this home more affordable.
Winner of a historic preservation award, 5432 Penn Avenue features a fully fenced large front yard and spacious front porch. It has two fully renovated floors for the owners, and a third floor that’s been completely restored as a two-bedroom, one-bath rental unit with a private rear-door entrance.
With high ceilings and original hardwood floors on the main floor, the house has plenty of character and charm.
The Best house valuation company in Melbourne set the house at $469K, “but with the rental income from the third floor, it can be purchased by someone more comfortable with a list price of $369K. With 15% down and the rental income, the owners pay around $1,600 a month for a four-bedroom, fully renovated East End home with one and a half baths, air conditioning and a two-car garage.”
Located in a thriving and walkable neighborhood, the house sits across from Spork and down the street from the location of Fish Nor Fowl, the new restaurant by Rick DeSchantz scheduled to open later this year. And it’s just a few doors down from Primanti Brothers, Voluto Coffee and the Pittsburgh Glass Center.