408 W Princess St · York, PA 17401

$149,900

3 bd · 2.0 ba · 2,200 sqft · Townhouse public records · 3 Days on market

Built 1900 1,133 sqft lot $68/sqft · at area comps Est $150k · at est.

---

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).

• Cash flow +14.4/30.0
• ARV discount +7.4/15.0
• 1% rule +4.9/10.0
• DSCR +4.4/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert! Spacious 3 bedroom, 2 bath. semi-detached home. New central air unit and dishwasher installed in June 2021. Great floor plan. Walk to all that downtown York has to offer. 2 off street parking spaces behind home. Don't miss this one!

Key facts

• Brick home
• Spacious living room
• Separate dining area

Tags

• BRICK HOME
• SPACIOUS LIVING ROOM
• SEPARATE DINING AREA
• WELL-APPOINTED KITCHEN
• CONVENIENT LAUNDRY AREA
• PRIVATE PRIMARY SUITE

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Semi-detached property; Above-grade finished area approximately 2,200 (source: Assessor)
• Construction: Brick construction; Other foundation type; Above-grade and below-grade structures present
• Exterior features: Not located in a federal flood zone; Ground rent paid annually

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning (electric)
• Interior features: Living room; Dining room; Kitchen; Full basement
• Laundry & utility: Hot water: Natural gas

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $31 ($368/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (1.4% below list).
• Recommended offer: $148k (1.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.0% in York — 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 75/100 on livability (#427 in PA, #3,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime F, employment F.
• York City SD (urban): math 4% / reading 16% proficiency, ranked #534 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 63 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• This rent runs 41% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $107k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,787 (1.4% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 8.5

CMA / ARV

• ARV (median comp): $149,641
• List price: $149,900
• Delta: 0.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 N Penn St	0.30mi	4/1.5 (+1)	2,112 (-4%)	5mo	$199,900	$95	68
218 S Penn St	0.03mi	4/2.5 (+1)	1,927 (-12%)	14mo	$195,000	$101	59
311 Smyser St	0.48mi	4/1.5 (+1)	2,148 (-2%)	9mo	$175,000	$81	59
608 S Pershing Ave	0.50mi	4/3.5 (+1)	2,280 (+4%)	4mo	$180,000	$79	56
628 W Princess St	0.38mi	4/1.0 (+1)	1,980 (-10%)	3mo	$105,000	$53	54
669 W Princess St	0.44mi	3/2.5	2,530 (+15%)	2mo	$237,500	$94	51
41 N Newberry St	0.33mi	4/2.0 (+1)	2,480 (+13%)	12mo	$225,000	$91	49
303 Smyser St	0.48mi	4/2.0 (+1)	1,932 (-12%)	12mo	$220,000	$114	42
236 W Jackson St	0.61mi	4/1.0 (+1)	1,962 (-11%)	6mo	$166,500	$85	39
513 S George St	0.65mi	4/2.5 (+1)	1,944 (-12%)	8mo	$127,000	$65	37
255 Roosevelt Ave	0.52mi	4/1.5 (+1)	1,886 (-14%)	14mo	$114,500	$61	33
455 Linden Ave	0.70mi	3/3.0	2,521 (+15%)	11mo	$229,000	$91	30

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

Projected returns pro-forma

-3.0% appreciation · 6.37% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.59×
• Total profit: $-17,070
• Equity at exit: $22,351

10-year hold

• IRR: 3.1%
• Equity multiple: 1.26×
• Total profit: $10,779
• Equity at exit: $12,961

Cash invested: $41,972 (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 17401

• Home prices YoY: -16.5%
• Rents YoY: 6.4%
• Active inventory: 63
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,478 high
• Mortgage (P&I): −$786
• Tax from tax record: −$288 /mo · $3,459/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $31

Break-even live

Break-even rent $1,439

Max offer price $149,900

Occupancy floor 93%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 Roosevelt Ave York, PA	3.0	1.5	1584	$1,750	$1.10	14d	1	0.45mi
588 Company St York, PA	3.0	1.5	1416	$1,475	$1.04	44d	1	0.46mi
132 N West St York, PA	4.0	1.0	1560	$1,600	$1.03	14d	1	0.49mi
645 W Philadelphia St Unit 2ND FLOOR York, PA	3.0	1.0	2124	$1,100	$0.52	44d	1	0.51mi
702 W Philadelphia St Unit 2 York, PA	3.0	1.0	2154	$1,375	$0.64	44d	1	0.54mi
289 Union St York, PA	4.0	1.0	1450	$1,600	$1.10	44d	1	0.55mi
175 W Gay Ave York, PA	1.0–2.0	1.0	1219	$1,650	$1.35	14d	2	0.55mi
537 W Jackson St York, PA	3.0	2.0	1795	$1,795	$1.00	14d	1	0.58mi
28 N George St Unit H York, PA	2.0	2.0	1400	$1,550	$1.11	44d	1	0.59mi
901 W King St Unit 2 York, PA	2.0	1.0	2328	$975	$0.42	44d	1	0.64mi
925 W College Ave York, PA	4.0	1.0	1660	$1,425	$0.86	14d	1	0.67mi
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	44d	1	0.67mi
428 Smith St York, PA	3.0	1.0	1522	$1,350	$0.89	14d	1	0.68mi
626 S Queen St York, PA	3.0	1.0	1526	$1,225	$0.80	21d	1	0.91mi
339 E Market St Unit 1 York, PA	4.0	1.5	1600	$1,650	$1.03	21d	1	0.98mi
511 E Philadelphia St Unit 2 York, PA	3.0	1.0	2194	$895	$0.41	44d	1	1.23mi
631 Wallace St Unit 631 York, PA	4.0	1.0	1545	$1,325	$0.86	14d	1	1.35mi
103 W 6th Ave Unit 2ND FLOOR York, PA	2.0	1.0	1896	$1,195	$0.63	44d	1	1.36mi
30 N Franklin St York, PA	3.0	1.0	1400	$1,395	$1.00	44d	1	1.40mi
720 Chestnut St Apt 2 York, PA	4.0	1.0	1400	$1,300	$0.93	14d	1	1.48mi
540 Dallas St Apt 2 York, PA	3.0	1.0	1924	$1,225	$0.64	14d	1	1.49mi

Listing history 18 events

1. 2026-05-18
   status Pending 719-char remark
2. 2026-05-15
   listed $149,900 Active 719-char remark
3. 2026-03-05
   soldstatus $106,682
4. 2025-07-07
   historical $1,650
5. 2025-06-13
   listed $1,650
6. 2022-04-06
   soldstatus $71,122
7. 2021-07-09
   soldstatus $83,000
8. 2021-07-08
   soldstatus $83,000 Closed 249-char remark

   Show marketing remark (249 chars)

   Investor alert! Spacious 3 bedroom, 2 bath. semi-detached home. New central air unit and dishwasher installed in June 2021. Great floor plan. Walk to all that downtown York has to offer. 2 off street parking spaces behind home. Don't miss this one!

9. 2021-06-25
   status Pending 249-char remark

   Show marketing remark (249 chars)

   Investor alert! Spacious 3 bedroom, 2 bath. semi-detached home. New central air unit and dishwasher installed in June 2021. Great floor plan. Walk to all that downtown York has to offer. 2 off street parking spaces behind home. Don't miss this one!

10. 2021-06-17
    price $85,000 249-char remark

    Show marketing remark (249 chars)

    Investor alert! Spacious 3 bedroom, 2 bath. semi-detached home. New central air unit and dishwasher installed in June 2021. Great floor plan. Walk to all that downtown York has to offer. 2 off street parking spaces behind home. Don't miss this one!

11. 2021-06-14
    listed $95,000 Active 249-char remark

    Show marketing remark (249 chars)

    Investor alert! Spacious 3 bedroom, 2 bath. semi-detached home. New central air unit and dishwasher installed in June 2021. Great floor plan. Walk to all that downtown York has to offer. 2 off street parking spaces behind home. Don't miss this one!

12. 2019-11-13
    status Pending
13. 2019-10-31
    historical
14. 2019-10-31
    historical
15. 2019-04-20
    listed $62,000 Active
16. 2002-08-02
    soldstatus $51,500
17. 2001-04-12
    soldstatus $51,500
18. 1995-05-15
    soldstatus $51,500

ⓘ 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: $3,459 · $288/mo
• Projected year-2 tax: $3,459 · $288/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,734
• − Mortgage interest: −$8,397
• − Property taxes: −$3,459
• − Insurance: −$750
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$4,361
• Taxable loss: −$2,069
• Est. tax savings @ 24.0%: +$497
• After-tax cash flow: $865/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: York City SD
• NCES district ID: 4226820
• Math proficiency: 4% ▼ -7.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $29,470
• Composite: 7.61/100
• National rank: #9943
• State rank: #534 of 539 in PA

Livability — York

• Score: 75/100
• State rank: #427
• US rank: #3987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: York, PA
• County: York County · 278,806 people
• City population: 184,764
• Metro: York-Hanover, PA
• Population (ZIP): 18,570
• Household income: $42,826
• Rent vs Own: 67.4% rent · 32.6% own
• Severe rent burden: 1360.0

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 31% Black 24% Two or more races 15%
• Hispanic origin (detail): Mexican 5% Puerto Rican 22% Dominican 10%
• Common ancestry: Romanian 2% Hispanic 1% Italian 1%
• Foreign-born: 14% · Canada
• Languages at home: 72% English-only · Spanish 25% French/Haitian/Cajun 2%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.82%
• Current HPI: 323.5537
• Rent YoY: ▲ 6.37%
• Metro: York-Hanover, PA
• 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

+191.1% since first listed

18 events — show timeline

• 2026-05-18 Pending — BRIGHT MLS
• 2026-05-15 Listed $149,900 BRIGHT MLS
• 2026-03-05 Sold (Public Records) $106,682 Public Records
• 2025-07-07 Rental Removed $1,650 BRIGHTMLS
• 2025-06-13 Listed for Rent $1,650 BRIGHTMLS
• 2022-04-06 Sold (Public Records) $71,122 Public Records
• 2021-07-09 Sold (Public Records) $83,000 Public Records
• 2021-07-08 Sold (MLS) $83,000 BRIGHT MLS
• 2021-06-25 Pending — BRIGHT MLS
• 2021-06-17 Price Changed $85,000 BRIGHT MLS
• 2021-06-14 Listed $95,000 BRIGHT MLS
• 2019-11-13 Pending — BRIGHT MLS
• 2019-10-31 Listing Removed — BRIGHT MLS
• 2019-10-31 Listing Removed — BRIGHT MLS
• 2019-04-20 Listed $62,000 BRIGHT MLS
• 2002-08-02 Sold (Public Records) $51,500 Public Records
• 2001-04-12 Sold (Public Records) $51,500 Public Records
• 1995-05-15 Sold (Public Records) $51,500 Public Records

Property tax history

+0.8%/yr

Latest (2026): $3,459 · +1.6% YoY. Source: county tax records.