61 W Houston Ave · Montgomery, PA 17752

$267,900

4 bd · 2.5 ba · 2,810 sqft · MultiFamily public records · 51 Days on market

Built 1910 10,454 sqft lot $95/sqft · 12% below area Est $303k · 12% under

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Why this score? — see what drove the D 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).

• ARV discount +12.7/15.0
• Cash flow +7.9/30.0
• Appreciation +6.9/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.6/10.0

Multi-family units

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

Listing remarks MLS

You'll be shocked when you walk through the front door. .. .the grand entrance of the foyer with the cathedral ceiling and tons of natural light. The owners have spent several years putting their personal touch on this home, and you can feel the love in every room. The main level offers 3 bedrooms with 1.5 baths, plus a large hobby room. New flooring throughout many rooms and freshly painted, all you have to do is unpack and begin to settle in. The best part, the lower level offers a full kitchen, LR, 2 bedrooms and a full bath. You could rent this space out or it could make a great in law suite. Call today to schedule your personal tour.

Key facts

• Grand entrance
• Full kitchen
• Natural light

Tags

• GRAND ENTRANCE
• CATHEDRAL CEILING
• NATURAL LIGHT
• LARGE HOBBY ROOM
• FULL KITCHEN
• IN LAW SUITE

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $268k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (19.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (33.6% below list).
• Recommended offer: $178k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.5% in Montgomery — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#727 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Montgomery Area SD (town): math 46% / reading 54% proficiency, ranked #180 of 539 in PA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Montgomery El Sch (math 47% / reading 58%, grade C-, #578 of 1,518 statewide, top 38%, 523 students, 48% FRL); Montgomery Jshs (math 42% / reading 47%, grade F, #196 of 437 statewide, top 47%, 417 students, 53% FRL) — zoned schools average 50% FRL vs 31% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 73 units permitted in Lycoming County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.8% local appreciation)).
• Lycoming County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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.
• Current owner paid $168k; list at $268k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,839 (33.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.66% ✗
• Cap rate: 4.99%
• Cash-on-cash: -4.65%
• DSCR: 0.79
• GRM: 12.6

CMA / ARV

• ARV (median comp): $303,163
• List price: $267,900
• Delta: -11.63%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

3.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.34×
• Total profit: $25,630
• Equity at exit: $133,146

10-year hold

• IRR: 8.3%
• Equity multiple: 2.37×
• Total profit: $102,873
• Equity at exit: $215,659

Cash invested: $75,012 (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 17752

• Home prices YoY: 1.6%
• Active inventory: 20
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,778 medium
• Mortgage (P&I): −$1,405
• Tax from tax record: −$179 /mo · $2,146/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-290

Break-even live

Break-even rent $2,146

Max offer price $216,589

Occupancy floor —

Sensitivity live

Price	-10% $-139	-5% $-215	+0% $-290	+5% $-366	+10% $-442
Rent	-10% $-431	-5% $-361	+0% $-290	+5% $-220	+10% $-150
Rate	-1.0pp $-156	-0.5pp $-222	base $-290	+0.5pp $-360	+1.0pp $-431

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: $66,975
• Closing costs: $8,037
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-12
   status $267,900 Pending 51 DOM
2. 2026-06-09
   days on market $267,900 Active 51 DOM
3. 2026-06-08
   days on market $267,900 Active 50 DOM
4. 2026-06-08
   days on market $267,900 Active 49 DOM
5. 2026-06-07
   days on market $267,900 Active 48 DOM
6. 2026-06-04
   days on market $267,900 Active 45 DOM
7. 2026-06-02
   days on market $267,900 Active 44 DOM
8. 2026-06-01
   days on market $267,900 Active 43 DOM
9. 2026-05-31
   days on market $267,900 Active 42 DOM
10. 2026-05-19
    price $267,900 646-char remark

    Show marketing remark (646 chars)

    You'll be shocked when you walk through the front door. .. .the grand entrance of the foyer with the cathedral ceiling and tons of natural light. The owners have spent several years putting their personal touch on this home, and you can feel the love in every room. The main level offers 3 bedrooms with 1.5 baths, plus a large hobby room. New flooring throughout many rooms and freshly painted, all you have to do is unpack and begin to settle in. The best part, the lower level offers a full kitchen, LR, 2 bedrooms and a full bath. You could rent this space out or it could make a great in law suite. Call today to schedule your personal tour.

11. 2026-04-28
    status Active 646-char remark

    Show marketing remark (646 chars)

    You'll be shocked when you walk through the front door. .. .the grand entrance of the foyer with the cathedral ceiling and tons of natural light. The owners have spent several years putting their personal touch on this home, and you can feel the love in every room. The main level offers 3 bedrooms with 1.5 baths, plus a large hobby room. New flooring throughout many rooms and freshly painted, all you have to do is unpack and begin to settle in. The best part, the lower level offers a full kitchen, LR, 2 bedrooms and a full bath. You could rent this space out or it could make a great in law suite. Call today to schedule your personal tour.

12. 2026-04-19
    status Pending 646-char remark

    Show marketing remark (646 chars)

    You'll be shocked when you walk through the front door. .. .the grand entrance of the foyer with the cathedral ceiling and tons of natural light. The owners have spent several years putting their personal touch on this home, and you can feel the love in every room. The main level offers 3 bedrooms with 1.5 baths, plus a large hobby room. New flooring throughout many rooms and freshly painted, all you have to do is unpack and begin to settle in. The best part, the lower level offers a full kitchen, LR, 2 bedrooms and a full bath. You could rent this space out or it could make a great in law suite. Call today to schedule your personal tour.

13. 2026-04-11
    listed $268,900 Active 646-char remark

    Show marketing remark (646 chars)

    You'll be shocked when you walk through the front door. .. .the grand entrance of the foyer with the cathedral ceiling and tons of natural light. The owners have spent several years putting their personal touch on this home, and you can feel the love in every room. The main level offers 3 bedrooms with 1.5 baths, plus a large hobby room. New flooring throughout many rooms and freshly painted, all you have to do is unpack and begin to settle in. The best part, the lower level offers a full kitchen, LR, 2 bedrooms and a full bath. You could rent this space out or it could make a great in law suite. Call today to schedule your personal tour.

14. 2025-09-15
    price $255,000
15. 2025-09-15
    price $255,000
16. 2025-08-25
    price $265,000
17. 2025-08-25
    price $265,000
18. 2025-08-11
    price $269,000
19. 2025-08-11
    price $269,000
20. 2025-07-30
    price $275,000
21. 2025-07-30
    price $275,000
22. 2025-07-11
    price $285,000
23. 2022-06-29
    soldstatus $168,500
24. 2022-06-16
    soldstatus
25. 2021-10-17
    listed $168,500
26. 2019-04-29
    listed $190,000
27. 2019-04-29
    listed $190,000
28. 2019-04-29
    listed $190,000
29. 2017-05-03
    listed $219,999

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $2,146 · $179/mo
• Projected year-2 tax: $3,190 · $266/mo
• Expected delta: +$1,043/yr (+$87/mo · 48.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,341
• − Mortgage interest: −$15,007
• − Property taxes: −$2,146
• − Insurance: −$1,340
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$7,793
• Taxable loss: −$8,360
• Est. tax savings @ 24.0%: +$2,006
• After-tax cash flow: $-1,479/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: Montgomery Area SD
• NCES district ID: 4215660
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 54% ▼ -17.00%
• Median HH income: $49,345
• Composite: 42.69/100
• National rank: #3172
• State rank: #180 of 539 in PA

Livability — Montgomery

• Score: 71/100
• State rank: #727
• US rank: #7279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montgomery, PA
• Population (ZIP): 4,867

Population outlook (Lycoming County) Hauer SSP2

• Today (2025): 114,164 people
• By 2030: 112,221 · -1.7%
• By 2040: 107,613 · -5.7%
• By 2050: 102,950 · -9.8%
• By 2075: 92,987 · -18.5%
• By 2100: 80,924 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Iranian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 93% English-only · German/W. Germanic 6% Spanish 1%

Political lean MEDSL · Lycoming

• 2024 margin: Solid R (+41.5) · D 28.8% · R 70.3%
• 2008→2024 swing: -17.3pp toward R · 2008: -24.2pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+41.3 2016: R+44.8 2012: R+33.3 2008: R+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.83%
• Current HPI: 241.8799
• 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

+21.8% since first listed

20 events — show timeline

• 2026-05-19 Price Changed $267,900 WBVAR
• 2026-04-28 Relisted — WBVAR
• 2026-04-19 Pending — WBVAR
• 2026-04-11 Listed $268,900 WBVAR
• 2025-09-15 Price Changed $255,000 WBVAR
• 2025-09-15 Price Changed $255,000 WBVAR
• 2025-08-25 Price Changed $265,000 WBVAR
• 2025-08-25 Price Changed $265,000 WBVAR
• 2025-08-11 Price Changed $269,000 WBVAR
• 2025-08-11 Price Changed $269,000 WBVAR
• 2025-07-30 Price Changed $275,000 WBVAR
• 2025-07-30 Price Changed $275,000 WBVAR
• 2025-07-11 Price Changed $285,000 WBVAR
• 2022-06-29 Sold (Public Records) $168,500 Public Records
• 2022-06-16 Sold (MLS) — WBVAR
• 2021-10-17 Listed $168,500 WBVAR
• 2019-04-29 Listed $190,000 WBVAR
• 2019-04-29 Listed $190,000 CSVBR
• 2019-04-29 Listed $190,000 CSVBR
• 2017-05-03 Listed $219,999 CSVBR

Property tax history

+2.9%/yr

Latest (2026): $2,146 · +4.1% YoY. Source: county tax records.