405 S 14th St · Harrisburg, PA 17104

$250,000

5 bd · 2.5 ba · 2,556 sqft · MultiFamily public records · 38 Days on market

Built 1900 871 sqft lot $98/sqft · 36% above area

---

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 +9.4/10.0
• 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: 3 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 MLS

Let it Cash Flow! This three unit collects over $3000 in rent monthly. Total 5 bedrooms, 3 baths, 3 kitchens. New water heaters have been installed and property has been recently upgraded. Don't miss out on letting your money multiply with this money-making edifice! Hablamos Español y te ayudamos conseguir financiamiento.

Key facts

• Built 1900
• Listed 37 days

Property features AI

Finance

• Other: Total number of units: 3; Finished above-grade area reported as 1,980 (assessor)
• Financial info: Land assessed at $8,600; Improvements assessed at $22,700; Total tax assessed value $31,300 (tax year 2025); Annual property tax approximately $1,664 (breakdown: city $383, county $287, school $982)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached multi-family building with three total units; Fee simple ownership; Year built information sourced from assessor
• Construction: Frame construction; Foundation described as other
• Exterior features: Detached structure; No tidal water on the lot; Other above- and below-grade structures present

Interior

• Bedrooms: Three-unit property comprised of two one-bedroom units and one two-bedroom unit
• Heating & cooling: Electric baseboard heating; Electric cooling
• Interior features: Total finished above-grade living area approximately 1,980 (per assessor); Assessor is source for interior area measurements

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $433/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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); 69 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $3,608/mo this rent would consume 93% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $215k; 16% 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: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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: 1.44% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 5.8

CMA / ARV

• ARV (median comp): $142,080
• List price: $250,000
• Delta: 75.96%
• 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
1254 Derry St	0.26mi	5/—	2,756 (+8%)	2mo	$200,900	$73	73
431 Hummel St	0.14mi	5/—	2,176 (-15%)	0mo	$169,995	$78	68
1252 Derry St	0.26mi	5/—	2,800 (+10%)	4mo	$200,900	$72	68
512 S 13th St	0.15mi	6/— (+1)	2,280 (-11%)	6mo	$130,000	$57	65
109 Washington St	0.69mi	4/— (-1)	2,548 (-0%)	6mo	$439,000	$172	57
1426 State St	0.71mi	5/—	2,390 (-6%)	8mo	$165,000	$69	49
1421 Vernon St	0.19mi	5/2.0	2,182 (-15%)	24mo	$129,000	$59	45
1414 State St	0.71mi	5/—	2,354 (-8%)	15mo	$224,900	$96	42
129 N 13th St	0.61mi	4/— (-1)	2,322 (-9%)	12mo	$158,000	$68	41
562 Race St	0.66mi	4/— (-1)	2,726 (+7%)	16mo	$308,000	$113	40
1410 State St	0.71mi	4/— (-1)	2,354 (-8%)	19mo	$185,000	$79	33
60 Balm St	0.56mi	6/— (+1)	2,890 (+13%)	17mo	$175,000	$61	32

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: 16.5%
• Equity multiple: 1.68×
• Total profit: $47,371
• Equity at exit: $37,276

10-year hold

• IRR: 26.0%
• Equity multiple: 3.42×
• Total profit: $169,728
• Equity at exit: $21,615

Cash invested: $70,000 (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: 69
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $3,608 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$137 /mo · $1,646/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $1,298

Break-even live

Break-even rent $1,965

Max offer price $250,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,440	-5% $1,369	+0% $1,298	+5% $1,227	+10% $1,156
Rent	-10% $1,013	-5% $1,155	+0% $1,298	+5% $1,441	+10% $1,583
Rate	-1.0pp $1,424	-0.5pp $1,362	base $1,298	+0.5pp $1,233	+1.0pp $1,167

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,609
Total (3 units)			$3,608

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 Berryhill St Harrisburg, PA	5.0	2.0	1786	$1,700	$0.95	24d	1	0.10mi
1610 Hunter St Harrisburg, PA	4.0	1.0	1776	$1,450	$0.82	24d	1	0.18mi
227 Hummel St Harrisburg, PA	5.0	2.0	2696	$1,600	$0.59	44d	1	0.21mi
14 S 17th St Harrisburg, PA	5.0	2.0	2136	$1,695	$0.79	15d	1	0.41mi
66 N 17th St Harrisburg, PA	5.0	2.0	1845	$2,195	$1.19	44d	1	0.57mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,600	$1.81	44d	1	0.67mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$3,000	$2.09	15d	10	0.67mi
111 N 17th St Harrisburg, PA	5.0	1.0	1800	$1,850	$1.03	15d	1	0.67mi
1708 State St Harrisburg, PA	5.0	1.5	2320	$1,745	$0.75	22d	1	0.75mi
2315 Magnolia Dr Harrisburg, PA	4.0	3.5	3300	$3,000	$0.91	15d	1	0.94mi
2368 Canby St Harrisburg, PA	6.0	2.0	2142	$2,300	$1.07	22d	1	1.41mi
1330 Susquehanna St Harrisburg, PA	4.0	1.5	2280	$1,895	$0.83	24d	1	1.43mi

Listing history 29 events

1. 2026-06-21
   days on market $250,000 Active 38 DOM
2. 2026-06-18
   days on market $250,000 Active 35 DOM
3. 2026-06-17
   days on market $250,000 Active 34 DOM
4. 2026-06-16
   days on market $250,000 Active 33 DOM
5. 2026-06-15
   days on market $250,000 Active 32 DOM
6. 2026-06-14
   days on market $250,000 Active 30 DOM
7. 2026-06-13
   days on market $250,000 Active 29 DOM
8. 2026-06-10
   days on market $250,000 Active 27 DOM
9. 2026-06-09
   days on market $250,000 Active 26 DOM
10. 2026-06-08
    days on market $250,000 Active 25 DOM
11. 2026-06-07
    days on market $250,000 Active 24 DOM
12. 2026-06-03
    days on market $250,000 Active 20 DOM
13. 2026-06-02
    days on market $250,000 Active 19 DOM
14. 2026-06-01
    days on market $250,000 Active 18 DOM
15. 2026-05-31
    days on market $250,000 Active 17 DOM
16. 2026-05-31
    days on market $250,000 Active 16 DOM
17. 2026-05-15
    listed $250,000 Active 529-char remark
18. 2026-05-11
    historical $250,000 529-char remark
19. 2025-11-22
    historical
20. 2025-11-14
    listed $250,000 Active
21. 2025-11-09
    historical
22. 2025-06-20
    soldstatus $215,000
23. 2025-06-19
    soldstatus $215,000 Closed

    Show marketing remark (330 chars)

    Let it Cash Flow! This three unit collects over $3000 in rent monthly. Total 5 bedrooms, 3 baths, 3 kitchens. New water heaters have been installed and property has been recently upgraded. Don't miss out on letting your money multiply with this money-making edifice! Hablamos Español y te ayudamos conseguir financiamiento.

24. 2025-06-02
    status Pending

    Show marketing remark (330 chars)

    Let it Cash Flow! This three unit collects over $3000 in rent monthly. Total 5 bedrooms, 3 baths, 3 kitchens. New water heaters have been installed and property has been recently upgraded. Don't miss out on letting your money multiply with this money-making edifice! Hablamos Español y te ayudamos conseguir financiamiento.

25. 2025-05-01
    listed $230,000 Active

    Show marketing remark (330 chars)

    Let it Cash Flow! This three unit collects over $3000 in rent monthly. Total 5 bedrooms, 3 baths, 3 kitchens. New water heaters have been installed and property has been recently upgraded. Don't miss out on letting your money multiply with this money-making edifice! Hablamos Español y te ayudamos conseguir financiamiento.

26. 2025-01-23
    soldstatus $165,000
27. 2025-01-22
    soldstatus $165,000 Closed
28. 2024-12-29
    listed Active Under Contract
29. 2024-12-29
    listed $165,000

ⓘ 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: $1,646 · $137/mo
• Projected year-2 tax: $2,798 · $233/mo
• Expected delta: +$1,152/yr (+$96/mo · 70.0%)

ⓘ 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: $43,296
• − Mortgage interest: −$14,004
• − Property taxes: −$1,646
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,464
• − Management: −$3,464
• − Depreciation: −$7,273
• Taxable income: $12,196
• Est. tax owed @ 24.0%: −$2,927
• After-tax cash flow: $12,649/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

+51.5% since first listed

13 events — show timeline

• 2026-05-15 Listed $250,000 BRIGHT MLS
• 2026-05-11 Coming Soon $250,000 BRIGHT MLS
• 2025-11-22 Listing Removed — BRIGHT MLS
• 2025-11-14 Listed $250,000 BRIGHT MLS
• 2025-11-09 Coming Soon — BRIGHT MLS
• 2025-06-20 Sold (Public Records) $215,000 Public Records
• 2025-06-19 Sold (MLS) $215,000 BRIGHT MLS
• 2025-06-02 Pending — BRIGHT MLS
• 2025-05-01 Listed $230,000 BRIGHT MLS
• 2025-01-23 Sold (Public Records) $165,000 Public Records
• 2025-01-22 Sold (MLS) $165,000 BRIGHT MLS
• 2024-12-29 Listed — BRIGHT MLS
• 2024-12-29 Listed $165,000 BRIGHT MLS

Property tax history

+1.0%/yr

Latest (2026): $1,646 · +1.6% YoY. Source: county tax records.