21 E Centre St · Shenandoah, PA 17976

$224,900

3 bd · None ba · — sqft · MultiFamily · 45 Days on market

Built 1915 2,614 sqft lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

WELCOME TO – MIXED USE COMMERCIAL & RESIDENTIAL PROPERTY 21 E Centre St, Shenandoah, PA 17976 Excellent investment opportunity located on a high-traffic corner lot in the heart of the City of Shenandoah! This mixed-use property offers both commercial and residential potential. The first floor features a commercial storefront with front entrance with 770 SQFT area with access to an extra living room are with a half bathroom , ideal for a retail shop, office, or small business. Also on the main level, you will find a spacious living room and a huge eat-in kitchen area designed for shared use by tenant room renters. The second floor offers 3 private bedrooms and 2 full bathrooms

Key facts

• 2,614 sq ft lot
• Garage
• Built 1915

Property features AI

Finance

• Other: Living area and above/below grade area sources: Assessor
• Financial info: Total units: 2; Multi-unit details: 3 single-room units and 3 one-bedroom units (note: unit counts reflect unit types listed); Vacant units: 2; Month-to-month units: 2
• HOA & community: Information not provided

Exterior

• Parking: Detached garage (side entry, oversized) with garage door opener — 1 garage space
• Security: Information not provided
• Utilities: Public water; Public sewer; Electric service available
• Home design: Semi-detached property; Fee simple ownership; Major renovation in 2018 (effective year)
• Construction: Combination of frame, shingle siding, and vinyl siding; Other type foundation; Estimated year built
• Exterior features: Tidal water: No; Other above- and below-grade structures

Interior

• Kitchen: Built-in microwave; Stove; Refrigerator
• Bedrooms: Three one-bedroom units; Three single-room units
• Flooring: Information not provided
• Bathrooms: Information not provided
• Heating & cooling: Electric baseboard heating; 200+ amp electric service
• Interior features: Multiple access exits (2+); Semi-detached structure
• Laundry & utility: Washer; Dryer; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#720 in PA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: commute F, employment F.
• Shenandoah Valley SD (town): math 20% / reading 38% proficiency, ranked #454 of 539 in PA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Shenandoah Valley El Sch (math 21% / reading 41%, grade F, #1,116 of 1,518 statewide, top 74%, 667 students, 100% FRL); Shenandoah Valley Jshs (math 22% / reading 32%, grade F, #365 of 437 statewide, top 85%, 539 students, 96% FRL) — zoned schools average 98% FRL vs 66% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 63 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 169 units permitted in Schuylkill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $9k appreciation (3.8% local appreciation)).
• Schuylkill County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.55% ✓
• Cap rate: 12.69%
• Cash-on-cash: 22.85%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $143,146
• List price: $224,900
• Delta: 57.11%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 E Lloyd St	0.13mi	3/—	1,200	9mo	$30,000	$25	74
318 W Centre St	0.26mi	2/— (-1)	—	9mo	$110,000	—	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.6%
• Equity multiple: 2.81×
• Total profit: $113,713
• Equity at exit: $111,985

10-year hold

• IRR: 30.3%
• Equity multiple: 5.54×
• Total profit: $285,720
• Equity at exit: $181,549

Cash invested: $62,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 17976

• Home prices YoY: 1.3%
• Active inventory: 63
• Price-to-rent: 21.5×

Monthly cashflow live

• Estimated rent: $3,485 medium
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $1,199

Break-even live

Break-even rent $1,967

Max offer price $224,900

Occupancy floor 61%

Sensitivity live

Price	-10% $1,354	-5% $1,277	+0% $1,199	+5% $1,121	+10% $1,043
Rent	-10% $924	-5% $1,061	+0% $1,199	+5% $1,337	+10% $1,474
Rate	-1.0pp $1,312	-0.5pp $1,256	base $1,199	+0.5pp $1,141	+1.0pp $1,081

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,484
Total (4 units)			$3,485

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 E Oak St Shenandoah, PA	4.0	1.5	2220	$1,450	$0.65	45d	1	0.09mi
5 S Jardin St Unit 1 Shenandoah, PA	2.0	1.0	550	$725	$1.32	45d	1	0.14mi
230 W Arlington St Shenandoah, PA	3.0	1.0	1143	$1,400	$1.22	45d	1	0.24mi

Listing history 22 events

1. 2026-06-21
   days on market $224,900 Active 45 DOM
2. 2026-06-21
   days on market $224,900 Active 44 DOM
3. 2026-06-18
   days on market $224,900 Active 42 DOM
4. 2026-06-17
   days on market $224,900 Active 41 DOM
5. 2026-06-16
   days on market $224,900 Active 40 DOM
6. 2026-06-15
   days on market $224,900 Active 39 DOM
7. 2026-06-13
   days on market $224,900 Active 37 DOM
8. 2026-06-12
   days on market $224,900 Active 36 DOM
9. 2026-06-09
   days on market $224,900 Active 33 DOM
10. 2026-06-08
    days on market $224,900 Active 32 DOM
11. 2026-06-08
    days on market $224,900 Active 31 DOM
12. 2026-06-07
    days on market $224,900 Active 30 DOM
13. 2026-06-04
    days on market $224,900 Active 27 DOM
14. 2026-06-02
    days on market $224,900 Active 26 DOM
15. 2026-06-01
    days on market $224,900 Active 25 DOM
16. 2026-05-31
    days on market $224,900 Active 24 DOM
17. 2026-05-08
    listed $224,900 Active 1018-char remark
18. 2026-05-06
    historical $224,900 1018-char remark
19. 2015-12-14
    listed $38,000
20. 2015-12-14
    historical
21. 2011-06-13
    listed $38,000
22. 2011-06-13
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $41,820
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,346
• − Management: −$3,346
• − Depreciation: −$6,543
• Taxable income: $11,490
• Est. tax owed @ 24.0%: −$2,758
• After-tax cash flow: $11,629/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Shenandoah Valley SD
• NCES district ID: 4221490
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $31,968
• Composite: 23.58/100
• National rank: #7851
• State rank: #454 of 539 in PA

Livability — Shenandoah

• Score: 71/100
• State rank: #720
• US rank: #7134

Category grades

Amenities A+ Commute F Cost of living A+ Crime B Employment F Housing A Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shenandoah, PA
• City population: 5,988
• Population (ZIP): 5,988

Population outlook (Schuylkill County) Hauer SSP2

• Today (2025): 137,447 people
• By 2030: 133,121 · -3.1%
• By 2040: 124,172 · -9.7%
• By 2050: 115,611 · -15.9%
• By 2075: 100,796 · -26.7%
• By 2100: 86,667 · -36.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 34% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 8% Dominican 11%
• Common ancestry: Romanian 20% Iranian 2% Scotch-Irish 2%
• Foreign-born: 10% · Canada
• Languages at home: 68% English-only · Spanish 30% Russian/Polish/Slavic 1%

Political lean MEDSL · Schuylkill

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -33.4pp toward R · 2008: -8.7pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+39.9 2016: R+43.4 2012: R+13.4 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.84%
• Current HPI: 308.8036
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+491.8% since first listed

6 events — show timeline

• 2026-05-08 Listed $224,900 BRIGHT MLS
• 2026-05-06 Coming Soon $224,900 BRIGHT MLS
• 2015-12-14 Listing Removed — BRIGHT MLS
• 2015-12-14 Listed $38,000 BRIGHT MLS
• 2011-06-13 Listing Removed — BRIGHT MLS
• 2011-06-13 Listed $38,000 BRIGHT MLS