323 Crescent St · Harrisburg, PA 17104

$195,000

4 bd · 2.0 ba · 2,052 sqft · MultiFamily public records · 43 Days on market

Built 1900 2,614 sqft lot $95/sqft · 40% above area

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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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Don’t miss this investment opportunity in Allison Hill. Renovations have been started—step in and complete the project to your own specifications. This 3‑unit property offers strong income potential and flexible layout options. Property Features: - Unit 1: 1 bedroom, 2 bathrooms - Unit 2: 3–4 bedrooms, plumbing for 2 bathrooms - Detached 1‑car garage - Additional off‑street parking Great opportunity for investors or owner‑occupants looking to add value. Property being sold as‑is.

Key facts

• 2,614 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage (rear entry) with 1 garage space; On-street and off-street parking available
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas available for heating
• Home design: Semi-detached structure; Fee simple ownership; Above-grade finished area about 1,872 (source: assessor)
• Construction: Frame construction; Permanent foundation
• Exterior features: No tidal water on the lot; Above-grade and below-grade structures noted

Interior

• Bedrooms: Contains a 1-bedroom unit; Contains a 3-bedroom unit
• Heating & cooling: 90% forced air heating; Window air conditioning units
• Interior features: Multi-unit property with 2 total units; One 1-bedroom unit and one 3-bedroom unit; One unit currently vacant

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $915 ($11k/yr) — positive. Per door: $457/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 6.7% in Harrisburg — 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 84/100 on livability (#107 in PA, #826 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Harrisburg City SD (urban): math 6% / reading 13% proficiency, ranked #535 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harrisburg Hs (math 24% / reading 10%, grade F, #399 of 437 statewide, top 92%, 1,230 students, 100% FRL) — zoned schools average 100% FRL vs 82% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 67 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $2,702/mo this rent would consume 70% of the median local household income ($47k/yr) (locally 1166% 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $55k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $195k implies a 388% 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 $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.39% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• GRM: 6.0

CMA / ARV

• ARV (median comp): $127,059
• List price: $195,000
• Delta: 53.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 Market St	0.35mi	4/—	2,048 (-0%)	0mo	$260,000	$127	83
431 Hummel St	0.15mi	5/— (+1)	2,176 (+6%)	0mo	$169,995	$78	78
1535 Hunter St	0.35mi	4/2.0	2,004 (-2%)	9mo	$144,000	$72	72
435 S 17th St	0.45mi	4/—	1,965 (-4%)	2mo	$200,000	$102	70
405 S 14th St	0.22mi	5/— (+1)	1,980 (-4%)	12mo	$215,000	$109	69
566 Race St	0.52mi	4/2.0	2,016 (-2%)	6mo	$319,900	$159	68
1621 Berryhill St	0.42mi	5/3.0 (+1)	2,130 (+4%)	6mo	$225,000	$106	60
1421 Vernon St	0.27mi	5/2.0 (+1)	2,182 (+6%)	24mo	$129,000	$59	52
3112 & 3112 1/2 N 3rd St	0.58mi	4/—	2,240 (+9%)	10mo	$247,000	$110	50
129 N 13th St	0.56mi	4/—	2,322 (+13%)	12mo	$158,000	$68	42
1410 State St	0.68mi	4/—	2,354 (+15%)	19mo	$185,000	$79	28
1414 State St	0.68mi	5/— (+1)	2,354 (+15%)	15mo	$224,900	$96	26

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.56×
• Total profit: $30,574
• Equity at exit: $29,075

10-year hold

• IRR: 23.6%
• Equity multiple: 3.16×
• Total profit: $118,156
• Equity at exit: $16,860

Cash invested: $54,600 (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 17104

• Home prices YoY: -6.3%
• Rents YoY: 4.4%
• Active inventory: 67
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,702 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$116 /mo · $1,391/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $915

Break-even live

Break-even rent $1,544

Max offer price $195,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,025	-5% $970	+0% $915	+5% $860	+10% $804
Rent	-10% $701	-5% $808	+0% $915	+5% $1,022	+10% $1,128
Rate	-1.0pp $1,013	-0.5pp $964	base $915	+0.5pp $864	+1.0pp $813

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,702
Total (2 units)			$2,702

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
331 Hummel St Unit B Harrisburg, PA	3.0	1.0	1590	$1,800	$1.13	44d	1	0.07mi
227 Hummel St Harrisburg, PA	5.0	2.0	2696	$1,600	$0.59	44d	1	0.08mi
349 S 14th St Harrisburg, PA	3.0	1.0	1544	$1,450	$0.94	24d	1	0.20mi
1414 Berryhill St Harrisburg, PA	5.0	2.0	1786	$1,700	$0.95	24d	1	0.27mi
337 S 15th St Harrisburg, PA	3.0	1.0	1440	$1,195	$0.83	22d	1	0.27mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	44d	1	0.30mi
1610 Hunter St Harrisburg, PA	4.0	1.0	1776	$1,450	$0.82	24d	1	0.39mi
52 Balm St Harrisburg, PA	3.0	1.0	1950	$1,495	$0.77	22d	1	0.43mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,600	$1.81	44d	1	0.46mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$3,000	$2.09	14d	10	0.46mi
14 S 17th St Harrisburg, PA	5.0	2.0	2136	$1,695	$0.79	14d	1	0.49mi
66 N 17th St Harrisburg, PA	5.0	2.0	1845	$2,195	$1.19	44d	1	0.61mi
111 N 17th St Harrisburg, PA	5.0	1.0	1800	$1,850	$1.03	14d	1	0.70mi
1708 State St Harrisburg, PA	5.0	1.5	2320	$1,745	$0.75	22d	1	0.77mi
919 Penn St Harrisburg, PA	3.0	2.0	1458	$1,795	$1.23	24d	1	1.05mi
649 S 23rd St Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	22d	1	1.17mi
649 S 23rd St Unit 1 Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	44d	1	1.17mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	44d	1	1.19mi
1330 Susquehanna St Harrisburg, PA	4.0	1.5	2280	$1,895	$0.83	24d	1	1.24mi
1716 N 6th St Harrisburg, PA	4.0	3.5	2400	$2,200	$0.92	44d	1	1.43mi
1716 N 6th St Unit NA Harrisburg, PA	4.0	4.0	2400	$2,000	$0.83	24d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $195,000 Active 43 DOM
2. 2026-06-17
   days on market $195,000 Active 42 DOM
3. 2026-06-16
   days on market $195,000 Active 41 DOM
4. 2026-06-15
   days on market $195,000 Active 40 DOM
5. 2026-06-14
   days on market $195,000 Active 38 DOM
6. 2026-06-13
   days on market $195,000 Active 37 DOM
7. 2026-06-10
   days on market $195,000 Active 35 DOM
8. 2026-06-09
   days on market $195,000 Active 34 DOM
9. 2026-06-08
   days on market $195,000 Active 33 DOM
10. 2026-06-07
    days on market $195,000 Active 32 DOM
11. 2026-06-03
    days on market $195,000 Active 28 DOM
12. 2026-06-02
    days on market $195,000 Active 27 DOM
13. 2026-06-01
    days on market $195,000 Active 26 DOM
14. 2026-05-31
    days on market $195,000 Active 25 DOM
15. 2026-05-31
    days on market $195,000 Active 24 DOM
16. 2026-05-06
    listed $195,000 Active 506-char remark
17. 2021-10-12
    soldstatus $40,000
18. 2015-10-09
    soldstatus $23,000
19. 2002-07-30
    soldstatus $40,000

ⓘ 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: $1,391 · $116/mo
• Projected year-2 tax: $2,236 · $186/mo
• Expected delta: +$845/yr (+$70/mo · 60.8%)

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,424
• − Mortgage interest: −$10,923
• − Property taxes: −$1,391
• − Insurance: −$975
• − Repairs & maintenance: −$2,594
• − Management: −$2,594
• − Depreciation: −$5,673
• Taxable income: $8,275
• Est. tax owed @ 24.0%: −$1,986
• After-tax cash flow: $8,992/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: Harrisburg City SD
• NCES district ID: 4211580
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $33,432
• Composite: 7.6/100
• National rank: #9945
• State rank: #535 of 539 in PA

Livability — Harrisburg

• Score: 84/100
• State rank: #107
• US rank: #826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisburg, PA
• County: Dauphin County · 247,857 people
• City population: 184,296
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 18,541
• Household income: $46,510
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1166.0

Population outlook (Dauphin County) Hauer SSP2

• Today (2025): 281,628 people
• By 2030: 283,549 · +0.7%
• By 2040: 285,385 · +1.3%
• By 2050: 286,188 · +1.6%
• By 2075: 291,053 · +3.3%
• By 2100: 282,374 · +0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 44% Hispanic / Latino 29% White 19% Two or more races 12% Asian 3% Native American 1%
• Hispanic origin (detail): Puerto Rican 21% Dominican 6%
• Common ancestry: Polish 1% Romanian 1% Slovak 1%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 21% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Dauphin

• 2024 margin: Lean D (+5.9) · D 52.4% · R 46.5% · Other 1.1%
• 2008→2024 swing: -3.1pp toward R · 2008: 9.1pp · 2024: 5.9pp
• All cycles: 2024: D+5.9 2020: D+8.5 2016: D+2.8 2012: D+6.0 2008: D+9.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.83%
• Current HPI: 340.2808
• Rent YoY: ▲ 4.43%
• Metro: Harrisburg-Carlisle, 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

+387.5% since first listed

4 events — show timeline

• 2026-05-06 Listed $195,000 BRIGHT MLS
• 2021-10-12 Sold (Public Records) $40,000 Public Records
• 2015-10-09 Sold (Public Records) $23,000 Public Records
• 2002-07-30 Sold (Public Records) $40,000 Public Records

Property tax history

+0.9%/yr

Latest (2026): $1,391 · +1.5% YoY. Source: county tax records.