Invest in Pitcairn? (Pittsburgh, Johnstown, Wilkinsburg: real estate, apartment, rent)

[mdavis6890]

I'm a (very) small-time wanna-be investor, and it looks like there might be some interesting properties in Pitcairn. I'm thinking of buying a small apartment building there, but I don't know the area well.

Are people still interested in living there? Are there any jobs?

Is it mostly safe? I know it's not perfect, I just don't want to be involved in any shoot-outs.

Do you think there's a lot of vacancy?

What are most of the residents like?

If you were me and didn't have a lot of money to spend, but still wanted to invest in real estate, are there any other areas you'd consider? I would really like to be able to make a positive difference - take a place that's seen better days and fix it up into a safe, comfortable, and affordable place to live for folks - and make some income along the way.

Thanks for all your input!

[PreservationPioneer]

Originally Posted by mdavis6890

I'm thinking of buying a small apartment building there, but I don't know the area well.

It's an older community that was built up in the late 1800s or early 1900s to meet demand of local industrial factories (like many other communities in the Pittsburgh region). Over the decades, suburban sprawl and industrial decline happened, which caused people to move out of the original, older communities or leave the region altogether. They left behind decaying towns that are now home to lower income people. However, these towns are usually surrounded by more affluent suburbs, such as Monroeville, which are often the job centers of the area (if not the city of Pittsburgh itself).

Are people still interested in living there? Are there any jobs?

Most of the older, urban areas that attract residents are within the city of Pittsburgh. Many of the older suburbs are languishing and neglected. Few young people (besides yours truly) seek out these types of communities to live. However, they offer an extremely affordable urban lifestyle and opportunities for people who can't afford the fashionable city neighborhoods, while still being relatively close to local employment centers. The trick will be changing perceptions of these older suburban neighborhoods so that they will become attractive to people with the means to improve the communities in the future.

Is it mostly safe? I know it's not perfect, I just don't want to be involved in any shoot-outs.

My impression is that Pitcairn is safe. Most of the crime is drug-related. I'm not aware of any shoot-outs that have ever occurred in Pitcairn. Occasionally, violent crimes will happen, though.

Do you think there's a lot of vacancy?

Absolutely, and this is the number one issue with these older suburban neighborhoods. People move out, property values decline, nobody takes the time or the money to fix up the older buildings to make them habitable, and the populations of the areas continue to fall.

What are most of the residents like?

I can tell you what they are like here in Stowe, which is probably more or less the same as Pitcairn. Most are friendly, mind their own business. You have some hard-working neighbors who go to work everyday and take care of their properties, you have some who neglect their properties, and you have the occasional problem neighbor (sells drugs, hangs out on the street all day, etc.).

If you were me and didn't have a lot of money to spend, but still wanted to invest in real estate, are there any other areas you'd consider? I would really like to be able to make a positive difference - take a place that's seen better days and fix it up into a safe, comfortable, and affordable place to live for folks - and make some income along the way.

I like your mindset. I don't have a lot of money, either, but I bought a small house here in Stowe and fixed it up. I think Pitcairn and Stowe have a lot in common. They are low-income areas, which are not in high demand or very desirable, however they are generally safe and have functioning business districts. Most of the crime is related to drugs.

[Uptown kid]

Pitcairn is a long ways away from it's glory days... IMO it's still safe, though the neighborhood won't be getting better anytime soon.

[Copanut]

I would not purchase any property below 7th street.

[mdavis6890]

Thanks so much for your input!

I guess I still have some thinking to do on the matter. Pitcairn might ideal, but if people continue to leave my efforts might end up in vain.

If overall vacancy is fairly high, I still might be able to be successful by making my place nicer than others (which is my goal anyway) - but only if the residents are willing to pay a few extra dollars. I'm not sure whether they are or not at this point.

[AaronPGH]

It is going to take a LONG time to see a return on your investment in Pitcairn, and even then it may never happen. It is pretty disconnected from the Pittsburgh core. Abandoned and forgotten. Not to say it won't ever come back, but I would put a lot of neighborhoods ahead of it in the "likely to be rejuvenated" category.

[Jarobmack1968]

Hello!

I'm an Australian. I have property (houses) in Pennsylvania; Johnstown, Wilkinsburg and Wilmerding. I have an eye on Pitcairn property myself and I'd say there are quite a few others who are also looking out for such property. Zillow has quite a quick turn around on some properties in Pitcairn. You sound like you're a good person with your honest attitude to purchasing property and its subsequent restoration to assist people finding a place to live. It's your nice approach that encouraged me to reply to your post.

These older areas have beautiful homes; the exterior brickwork is eye-catching, the interior woodwork and plaster mouldings are stunning. Many people like the old-fashioned look. Not everyone likes the 'modern stuff'. I feel with time that people will move back into these older areas as they offer affordable housing both to buy and rent. Pitcairn isn't that far from major shopping either.

I will be buying in the area myself soon, so you won't be alone in this approach, if you go ahead. I wish you the very best.

Jason

[chao]

depends on what you consider a lot money and what you want get out of your investment

in general, the advantage of invest in low value housing area is that you get better ROI as far as rent goes, since you can get rentable property for very low cost, on the other hand, your property value is unlikely to appreciate in the undesirable area.

There's are many popular high investment area in Pittsburgh but market is very competitive, and also depends on what's your budget and how much cash you have.

[svband76]

Invest closer to the city of Pittsburgh.