68-70 N Franklin St · York, PA 17403

$185,000

4 bd · 0.0 ba · 2,102 sqft · MultiFamily · 17 Days on market

Built 1937 Average condition 1,512 sqft lot $88/sqft · 6% above area Est $175k · 6% over

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Why this score? — see what drove the C+ 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 +8.8/10.0
• ARV discount +4.9/15.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.8/5.0
• 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: 2 units. confirmed

Listing remarks

68-70 N Franklin Street presents an excellent investment opportunity in the City of York, offering two spacious and well-maintained residential units with strong upside potential. The property consists of a one-bedroom/one-bath apartment and a large three-bedroom/one-bath apartment, providing an attractive unit mix for a variety of tenants. The second unit benefits from garage access, adding convenience and additional value for occupants. The roof is less than 3 years old. New windows installed in apartment 2. The property has been well cared for and offers stable tenancy potential in a solid rental market location. Conveniently situated near York College of Pennsylvania and WellSpan Health

Key facts

• Near york college
• Near wellspan health
• Garage access

Tags

• TWO RESIDENTIAL UNITS
• GARAGE ACCESS
• NEW WINDOWS
• NEAR YORK COLLEGE
• NEAR WELLSPAN HEALTH

Property features AI

Finance

• Other: Income includes apartment rentals; Existing leases: long term
• Financial info: Gross scheduled income approximately $22,093; Net operating income approximately $12,703; Operating expenses approximately $10,553 (includes insurance and trash); Total actual rent approximately $23,256; Vacancy allowance rate 5%; Insurance expense approximately $1,000; Pest control expense approximately $600; Trash expense approximately $444; Water average about $333/month (about $3,996 last 12 months)
• HOA & community: Maintenance expense: $700

Exterior

• Parking: On-street parking
• Utilities: Natural gas for heating and hot water; Public water; Public sewer
• Home design: Detached property; 2 stories; Fee simple ownership
• Construction: Brick construction; Rubber roof; Slab foundation; Built date source: Assessor
• Exterior features: Public water and public sewer; Municipal trash service

Interior

• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Flooring: Vinyl; Carpet
• Heating & cooling: Forced air heating; Natural gas heating and hot water
• Interior features: Dry wall and plaster walls; Vinyl and carpet flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $185k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive. Per door: $370/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 (+4.4%/yr); 219 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 41% of the median local income ($75k/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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $182,225 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.16%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $174,978
• List price: $185,000
• Delta: 5.73%
• 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
820 E Market St	0.16mi	5/— (+1)	2,150 (+2%)	0mo	$165,000	$77	84
708 E Philadelphia St	0.04mi	5/— (+1)	2,220 (+6%)	2mo	$175,000	$79	82
665 E Philadelphia St	0.06mi	4/—	2,320 (+10%)	9mo	$190,000	$82	73
688 E Philadelphia St	0.02mi	4/2.0	1,922 (-9%)	12mo	$172,400	$90	67
663 E Philadelphia St	0.07mi	5/— (+1)	2,319 (+10%)	11mo	$165,000	$71	66
329 E Philadelphia St	0.45mi	4/—	2,150 (+2%)	18mo	$148,000	$69	61
831 E Market St	0.16mi	4/—	2,406 (+14%)	13mo	$240,000	$100	58
841 E Philadelphia St	0.18mi	4/2.0	1,800 (-14%)	6mo	$173,000	$96	54
908 Mt Rose Ave	0.67mi	4/2.0	2,116 (+1%)	15mo	$160,000	$76	48
601 Girard Ave	0.63mi	4/—	1,920 (-9%)	12mo	$170,000	$89	46
600 Dallas St	0.69mi	3/— (-1)	1,924 (-8%)	11mo	$177,000	$92	40
257 E College Ave	0.68mi	3/— (-1)	2,400 (+14%)	4mo	$220,000	$92	36

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $20,969
• Equity at exit: $27,584

10-year hold

• IRR: 20.3%
• Equity multiple: 2.83×
• Total profit: $94,924
• Equity at exit: $15,995

Cash invested: $51,800 (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 17403

• Home prices YoY: -26.9%
• Rents YoY: 4.4%
• Active inventory: 219
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,556 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $741

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 66%

Sensitivity live

Price	-10% $869	-5% $805	+0% $741	+5% $677	+10% $613
Rent	-10% $539	-5% $640	+0% $741	+5% $842	+10% $943
Rate	-1.0pp $834	-0.5pp $788	base $741	+0.5pp $693	+1.0pp $644

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,556
Total (2 units)			$2,556

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 N Franklin St York, PA	3.0	1.0	1400	$1,395	$1.00	44d	1	0.06mi
720 Chestnut St Apt 2 York, PA	4.0	1.0	1400	$1,300	$0.93	14d	1	0.13mi
631 Wallace St Unit 631 York, PA	4.0	1.0	1545	$1,325	$0.86	14d	1	0.14mi
511 E Philadelphia St Unit 2 York, PA	3.0	1.0	2194	$895	$0.41	45d	1	0.21mi
339 E Market St Unit 1 York, PA	4.0	1.5	1600	$1,650	$1.03	22d	1	0.45mi
540 Dallas St Apt 2 York, PA	3.0	1.0	1924	$1,225	$0.64	14d	1	0.67mi
1505 3rd Ave York, PA	3.0	1.5	1408	$1,800	$1.28	14d	1	0.87mi
549 Lancaster Ave York, PA	3.0	1.0	1458	$1,875	$1.29	44d	1	0.90mi
1538 1st Ave Unit 2 York, PA	3.0	2.0	1500	$1,900	$1.27	14d	1	0.93mi
626 S Queen St York, PA	3.0	1.0	1526	$1,225	$0.80	22d	1	1.01mi
428 Smith St York, PA	3.0	1.0	1522	$1,350	$0.89	14d	1	1.20mi
289 Union St York, PA	4.0	1.0	1450	$1,600	$1.10	44d	1	1.23mi
330 Smyser St York, PA	5.0	1.0	1634	$1,425	$0.87	44d	1	1.29mi
213 Kurtz Ave York, PA	5.0	1.0	1921	$1,850	$0.96	14d	1	1.31mi
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	44d	1	1.34mi
231 Roosevelt Ave York, PA	3.0	1.5	1584	$1,750	$1.10	14d	1	1.49mi

Listing history 1 events

1. 2026-05-11
   listed $185,000 Active 1188-char remark

ⓘ 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 6/10 Major 7 d/yr ≥102°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: $30,672
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,454
• − Management: −$2,454
• − Depreciation: −$5,382
• Taxable income: $6,320
• Est. tax owed @ 24.0%: −$1,517
• After-tax cash flow: $7,372/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.

Condition & rehab AI · 1 photo

Average 55/100 Moderate rehab

This multi-family property presents an average condition with moderate rehabilitation needs, primarily focusing on exterior and interior painting to enhance its curb appeal and resale value.

Repairs flagged

• Major exterior paint — Paint appears worn and needs repainting
• Major interior walls — Paint appears worn and needs repainting

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both paint interior walls — Enhances interior appearance and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Paint appears worn and needs repainting	Major	$15,000–50,000
interior walls · Paint appears worn and needs repainting	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both paint interior walls — Enhances interior appearance and resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 40,287
• Household income: $75,384
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1305.0

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 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Arabic 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: ▼ -104.51%
• Current HPI: 284.0731
• Rent YoY: ▲ 4.43%
• 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

2 events — show timeline

• 2026-05-28 Pending — BRIGHT MLS
• 2026-05-11 Listed $185,000 BRIGHT MLS