23 W 8th Ave · North York, PA 17404

$159,900

3 bd · 1.0 ba · 1,216 sqft · MultiFamily public records · 49 Days on market

Built 1900 3,485 sqft lot $131/sqft · 8% above area Est $149k · 8% over

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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 +4.1/15.0
• Rent growth +4.1/5.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Key facts

• Parking
• Built 1900
• Listed 49 days

Property features AI

Finance

• Other: Fee simple ownership; Property condition listed as good

Exterior

• Parking: One off-street parking space; On-street parking available
• Utilities: Public water; Public sewer; Natural gas heating and hot water
• Home design: Semi-detached home; Estimated year built
• Construction: Asphalt roof; Construction includes asphalt, block, and stick-built components; Stone foundation; Double-hung, double-pane windows
• Exterior features: Not located in a federal flood zone

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms on the upper level
• Flooring: Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Attic; Ceiling fan(s); Traditional floor plan; Eat-in kitchen; Walk-in closet(s)
• Laundry & utility: Basement (full)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#713 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Central York SD (suburban): math 33% / reading 57% proficiency, ranked #244 of 539 in PA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hayshire El Sch (math 17% / reading 32%, grade F, #1,180 of 1,518 statewide, top 80%, 509 students, 63% FRL); Central York Ms (math 21% / reading 59%, grade F, #257 of 512 statewide, top 52%, 881 students, 45% FRL); Central York Hs (math 61% / reading 74%, grade B, #59 of 437 statewide, top 14%, 1,807 students, 40% FRL) — zoned schools average 50% FRL vs 24% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 249 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $3,898/mo this rent would consume 60% of the median local household income ($79k/yr) (locally 722% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $76k; list at $160k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1900 — 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 F-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: 2.44% ✓
• Cap rate: 21.07%
• Cash-on-cash: 52.79%
• DSCR: 3.35
• GRM: 3.4

CMA / ARV

• ARV (median comp): $148,623
• List price: $159,900
• Delta: 7.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 54.6%
• Equity multiple: 3.53×
• Total profit: $113,297
• Equity at exit: $23,842

10-year hold

• IRR: 61.0%
• Equity multiple: 8.16×
• Total profit: $320,724
• Equity at exit: $13,825

Cash invested: $44,772 (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 17404

• Rents YoY: 6.4%
• Active inventory: 249
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,898 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$205 /mo · $2,457/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $1,970

Break-even live

Break-even rent $1,405

Max offer price $159,900

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,897
Total (3 units)			$3,898

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Laurel St York, PA	3.0	1.0	1136	$1,375	$1.21	21d	1	0.16mi
113 Arch St York, PA	4.0	1.0	1188	$1,200	$1.01	13d	1	0.75mi
2256 N Point Dr York, PA	2.0	1.5	1200	$1,650	$1.38	43d	1	0.76mi
433 Piedmont Cir York, PA	1.0–3.0	1.0–1.5	850	$1,655	$1.95	13d	2	0.79mi
433 Piedmont Cir York, PA	3.0	1.5	1000	$1,656	$1.66	43d	1	0.79mi
334 N Beaver St York, PA	3.0	1.0	1140	$1,050	$0.92	13d	1	0.83mi
133 Stevens Ave York, PA	3.0	1.0	1200	$1,300	$1.08	43d	1	0.87mi
251 N George St York, PA	2.0	2.0	1100	$1,595	$1.45	13d	1	0.90mi
403 N Newberry St Unit A10 York, PA	2.0	1.0	750	$1,095	$1.46	21d	1	0.95mi
403 N Newberry St Unit B12 York, PA	2.0	1.0	750	$1,050	$1.40	43d	1	0.95mi
289 Union St York, PA	4.0	1.0	1450	$1,600	$1.10	43d	1	0.98mi
245 Franklin Way York, PA	2.0	2.0	1240	$1,150	$0.93	13d	1	0.99mi
231 Franklin Way York, PA	3.0	1.0	920	$1,195	$1.30	13d	1	0.99mi
175 W Gay Ave York, PA	1.0–2.0	1.0	1219	$1,650	$1.35	13d	2	1.01mi
446 Wallace St York, PA	3.0	1.0	1092	$1,295	$1.19	21d	1	1.07mi
720 Elm Ter York, PA	3.0	1.5	1200	$1,950	$1.62	21d	1	1.07mi
2220 N Susquehanna Trl York, PA	1.0–3.0	1.0–2.0	1073	$2,325	$2.17	13d	14	1.08mi
450 Madison Ave York, PA	1.0–2.0	1.0	862	$1,250	$1.45	13d	1	1.09mi
314 W Gay Ave York, PA	3.0	1.0	1060	$1,250	$1.18	21d	1	1.13mi
28 N George St Unit H York, PA	2.0	2.0	1400	$1,550	$1.11	43d	1	1.13mi
631 Roosevelt Ave Unit 2 York, PA	3.0	1.0	1170	$1,150	$0.98	13d	1	1.14mi
216 Park Pl York, PA	4.0	1.0	1192	$1,350	$1.13	13d	1	1.16mi
720 Chestnut St Apt 2 York, PA	4.0	1.0	1400	$1,300	$0.93	13d	1	1.18mi
49 W Market St Unit 2 R York, PA	2.0	1.0	788	$975	$1.24	13d	1	1.18mi
30 N Franklin St York, PA	3.0	1.0	1400	$1,395	$1.00	43d	1	1.31mi
606 E Market St Unit 1STFLRREAR York, PA	2.0	1.0	700	$925	$1.32	13d	1	1.32mi
132 S Beaver St Apt 4 York, PA	2.0	2.0	1000	$1,250	$1.25	43d	1	1.37mi
40 N Tremont St #2 York, PA	3.0	1.0	900	$1,500	$1.67	43d	1	1.40mi
588 Company St York, PA	3.0	1.5	1416	$1,475	$1.04	43d	1	1.40mi
330 W King St York, PA	3.0	1.0	713	$1,195	$1.68	13d	1	1.42mi

Listing history 21 events

1. 2026-06-18
   days on market $159,900 Active 49 DOM
2. 2026-06-17
   days on market $159,900 Active 48 DOM
3. 2026-06-16
   days on market $159,900 Active 47 DOM
4. 2026-06-15
   days on market $159,900 Active 46 DOM
5. 2026-06-14
   days on market $159,900 Active 44 DOM
6. 2026-06-13
   days on market $159,900 Active 43 DOM
7. 2026-06-10
   days on market $159,900 Active 41 DOM
8. 2026-06-09
   days on market $159,900 Active 40 DOM
9. 2026-06-08
   days on market $159,900 Active 39 DOM
10. 2026-06-07
    days on market $159,900 Active 38 DOM
11. 2026-06-05
    days on market $159,900 Active 35 DOM
12. 2026-06-03
    days on market $159,900 Active 34 DOM
13. 2026-06-02
    days on market $159,900 Active 33 DOM
14. 2026-06-01
    days on market $159,900 Active 32 DOM
15. 2026-05-31
    days on market $159,900 Active 31 DOM
16. 2026-05-30
    pricedays on market $159,900 Active 30 DOM
17. 2026-05-01
    listed $169,900 Active 323-char remark
18. 2026-04-29
    historical $169,900 323-char remark
19. 2008-02-19
    soldstatus $76,500
20. 1990-10-29
    soldstatus $48,500
21. 1990-10-16
    soldstatus $45,500

ⓘ 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: $2,457 · $205/mo
• Projected year-2 tax: $2,492 · $208/mo
• Expected delta: +$35/yr (+$3/mo · 1.4%)

ⓘ 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 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: $46,776
• − Mortgage interest: −$8,957
• − Property taxes: −$2,457
• − Insurance: −$800
• − Repairs & maintenance: −$3,742
• − Management: −$3,742
• − Depreciation: −$4,652
• Taxable income: $22,427
• Est. tax owed @ 24.0%: −$5,383
• After-tax cash flow: $18,252/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: Central York SD
• NCES district ID: 4205490
• Math proficiency: 33% ▼ -2.00%
• Reading proficiency: 57% ▼ -4.00%
• Median HH income: $64,385
• Composite: 39.92/100
• National rank: #3849
• State rank: #244 of 539 in PA

Livability — North York

• Score: 71/100
• State rank: #713
• US rank: #7045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North York, PA
• County: York County · 278,806 people
• Metro: York-Hanover, PA
• Population (ZIP): 39,374
• Household income: $78,506
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 722.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Black 12% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 12% Russian/Polish/Slavic 1%

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: ▼ -135.44%
• Current HPI: 237.5683
• Rent YoY: ▲ 6.38%
• 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

+251.4% since first listed

6 events — show timeline

• 2026-05-30 Price Changed $159,900 BRIGHT MLS
• 2026-05-01 Listed $169,900 BRIGHT MLS
• 2026-04-29 Coming Soon $169,900 BRIGHT MLS
• 2008-02-19 Sold (Public Records) $76,500 Public Records
• 1990-10-29 Sold (Public Records) $48,500 Public Records
• 1990-10-16 Sold (Public Records) $45,500 Public Records

Property tax history

+2.7%/yr

Latest (2026): $2,457 · +3.5% YoY. Source: county tax records.