1108 W 3rd St · Chester, PA 19013

$155,000

24 bd · None ba · 4,116 sqft · MultiFamily · 49 Days on market

Built 1957 ↓ 11% since listing

---

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
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• 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 (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Welcome to one of the best quadruplex investment opportunities in the heart of Chester City. This property features 4 units total — 2 units on the first floor and 2 units on the second floor — and a basement, making it an excellent income-producing property for investors. Each unit has separate utilities, with gas heating and cooling, gas hot water, and window A/C units. The roof was replaced in 2021 and comes with a 12-year warranty. The roof currently needs maintenance, which isn't covered under the warranty. This property offers strong investment potential and high rental demand in the area. Please schedule your appointment today to see this great opportunity.

Key facts

• Separate utilities
• 12 year warranty
• Gas hot water

Tags

• SEPARATE UTILITIES
• GAS HEATING
• GAS HOT WATER
• WINDOW A/C UNITS
• ROOF REPLACED
• 12 YEAR WARRANTY

Property features AI

Finance

• Financial info: Four-unit building with four vacant units

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse / rowhouse; Fee simple ownership
• Construction: Brick and mixed construction; Permanent and wood foundation; Above-grade and below-grade structures; Estimated year built
• Exterior features: Lot approximately 40 x 110; No tidal water

Interior

• Bedrooms: Three 1-bedroom units; One 3-bedroom unit
• Heating & cooling: Hot water heating; Natural gas heating fuel; Window air conditioning units (cooling); Natural gas for cooling fuel
• Interior features: Estimated living area; No furnished units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $836/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 32.2% vs local median 7.5% in Chester — 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 73/100 on livability (#540 in PA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Chester-Upland SD (suburban): math 4% / reading 17% proficiency, ranked #533 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.9%/yr); 140 active listings in the ZIP; lower-income renter base — watch delinquency; 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• At $5,591/mo this rent would consume 163% of the median local household income ($41k/yr) (locally 2668% 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 + 6.9% rent growth), your $43k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,350 (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. 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 1957 — 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.61% ✓
• Cap rate: 32.20%
• Cash-on-cash: 92.51%
• DSCR: 5.12
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.88% rent growth · sell at horizon

5-year hold

• IRR: 97.7%
• Equity multiple: 5.86×
• Total profit: $210,736
• Equity at exit: $23,111

10-year hold

• IRR: —
• Equity multiple: 13.88×
• Total profit: $559,044
• Equity at exit: $13,402

Cash invested: $43,400 (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 19013

• Rents YoY: 6.9%
• Active inventory: 140
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $5,591 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,174
• Net cashflow: $3,346

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 35%

Sensitivity live

Price	-10% $3,453	-5% $3,399	+0% $3,346	+5% $3,292	+10% $3,239
Rent	-10% $2,904	-5% $3,125	+0% $3,346	+5% $3,567	+10% $3,787
Rate	-1.0pp $3,424	-0.5pp $3,385	base $3,346	+0.5pp $3,306	+1.0pp $3,265

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$5,592
Total (4 units)			$5,591

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-11
   status Pending
2. 2026-04-27
   historical Active Under Contract
3. 2026-04-18
   price $155,000
4. 2026-04-02
   price $170,000
5. 2026-03-09
   listed $175,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,092
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$5,367
• − Management: −$5,367
• − Depreciation: −$4,509
• Taxable income: $40,066
• Est. tax owed @ 24.0%: −$9,616
• After-tax cash flow: $30,533/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: Chester-Upland SD
• NCES district ID: 4205860
• Math proficiency: 4% ▼ -3.00%
• Reading proficiency: 17% ▼ -6.00%
• Median HH income: $29,790
• Composite: 8.05/100
• National rank: #9918
• State rank: #533 of 539 in PA

Livability — Chester

• Score: 73/100
• State rank: #540
• US rank: #5053

Category grades

Amenities A+ 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: Chester, PA
• County: Delaware County · 399,863 people
• City population: 35,064
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 35,064
• Household income: $41,261
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 2668.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 577,490 people
• By 2030: 581,243 · +0.6%
• By 2040: 584,700 · +1.2%
• By 2050: 586,581 · +1.6%
• By 2075: 598,706 · +3.7%
• By 2100: 590,823 · +2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (71%)
• Race & ethnicity: Black 71% White 14% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Delaware

• 2024 margin: Strong D (+23.7) · D 61.4% · R 37.6% · Other 1.0%
• 2008→2024 swing: +2.3pp toward D · 2008: 21.4pp · 2024: 23.7pp
• All cycles: 2024: D+23.7 2020: D+26.7 2016: D+22.0 2012: D+21.8 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.69%
• Current HPI: 219.5173
• Rent YoY: ▲ 6.88%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

-11.4% since first listed

5 events — show timeline

• 2026-05-11 Pending — BRIGHT MLS
• 2026-04-27 Contingent — BRIGHT MLS
• 2026-04-18 Price Changed $155,000 BRIGHT MLS
• 2026-04-02 Price Changed $170,000 BRIGHT MLS
• 2026-03-09 Listed $175,000 BRIGHT MLS