Real Estate Investing in Mill Run, Pennsylvania (15464)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 15464 (Mill Run, PA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 17.9% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Mill Run, PA (15464)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 15464 Mill Run
Not every below-median market is a bargain. Mill Run's 15464 ZIP reflects signals that favor experienced operators who can absorb the risk $198K pricing implies.
The investment case in 15464 is healthy only for operators who understand what they are buying. A $198K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 15464 sits on the difficult end of the PA spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
A resilient renter share of 12% in 15464 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 15464 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Mill Run:
Property Strategy for 15464
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $155,080 | $1,180 | 5.5% | +5.2% | $77,540 |
| 3BR | $205,161 | $1,510 | 5.3% | +4.5% | $68,387 |
Market Trends
Home Value History (with trend line)
📊 How Does 15464 Compare?
| Metric | 15464 | Mill Run | Pittsburgh, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $197,752 | $197,752 | N/A | $278,018 |
| 5-Year CAGR | 2.5% | 2.5% | N/A | 6.3% |
| Avg Rent | $1,062 | $1,062 | N/A | - |
| Cap Rate | 4.2% | 4.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 15464 (Mill Run, PA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 15464 (Mill Run, PA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $197,752 |
| Monthly Rent | $1,062 |
| Price-to-Rent | 15.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +10.2% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +2.5% ▲ |
| 10-Year CAGR | +3.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 15464
Population: 1,490
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What price range are homes in Mill Run, PA?
The median home value in Mill Run, PA is roughly $198K. That puts it reasonable relative to the PA statewide average.
How does Mill Run, PA rate as a rental market?
Mill Run, PA rates 3.0/5 for investability. With median values at $198K and rents near $1,062/mo, the market offers reasonable fundamentals for rental investors.
What is the typical renter like in Mill Run, PA?
Mill Run, PA offers a reliable renter base at the $1,062/mo rent level. Tenant turnover is reasonable for well-managed properties.
Are eviction rules reasonable in Mill Run, PA?
Mill Run, PA falls under PA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
How strong are rents in Mill Run, PA?
The typical rental in Mill Run, PA commands about $1,062/mo monthly. That rent profile predictable cash flow against the $198K purchase basis.
You know 15464 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 15464 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 15464 ranks in Pittsburgh, PA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 15464 (Mill Run)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 15464 (Mill Run, PA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.