2453 Reel St · Harrisburg, PA 17110

$142,000

5 bd · 1.0 ba · 2,250 sqft · Townhouse public records · 3 Days on market

Built 1910 1,742 sqft lot Est $169k · 16% under

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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
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom, 1.5-bath brick home offering generous living space throughout. This home features large bedrooms, a roomy kitchen with plenty of space for cooking and dining, and a practical layout for everyday living. A detached garage is located at the rear of the property, with a small, manageable yard.

Key facts

• Garage
• Built 1910
• Listed 3 days

Property features AI

Exterior

• Parking: Rear-entry detached garage (1 garage space); On-street parking available
• Utilities: Public water; Public sewer
• Home design: Semi-detached structure; Above-grade and below-grade structures noted; Fee simple ownership
• Construction: Brick construction; Block foundation; Year built information sourced from assessor
• Exterior features: Not in a federal flood zone

Interior

• Bedrooms: Two bedrooms on the first upper level; Two bedrooms on the second upper level
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Radiator heating; Natural gas hot water and heating fuel
• Interior features: Basement present (described as Other)

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath townhouse listed at $142k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Cap rate 11.4% 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 (+1.6%/yr); 170 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $40k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $33k; list at $142k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $142,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 11.43%
• Cash-on-cash: 18.36%
• DSCR: 1.82
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $168,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2249 N 6th St	0.24mi	5/1.0	2,210 (-2%)	0mo	$110,000	$50	86
2332 N 6th St	0.13mi	5/1.0	2,192 (-3%)	6mo	$125,000	$57	84
540 Schuylkill St	0.05mi	5/1.0	2,046 (-9%)	1mo	$125,000	$61	82
544 Schuylkill St	0.05mi	5/1.0	2,018 (-10%)	1mo	$125,000	$62	80
2322 N 6th St	0.16mi	5/2.0	2,392 (+6%)	11mo	$90,000	$38	69
243 Emerald St	0.35mi	4/1.0 (-1)	2,182 (-3%)	8mo	$106,000	$49	67
518 Emerald St	0.19mi	5/1.5	1,946 (-14%)	4mo	$145,000	$75	63
224 Seneca St	0.35mi	5/1.5	2,076 (-8%)	8mo	$164,900	$79	63
2008 Green St	0.62mi	4/2.5 (-1)	2,124 (-6%)	1mo	$295,000	$139	50
2010 Green St	0.61mi	4/1.5 (-1)	2,124 (-6%)	6mo	$206,000	$97	50
2032 N 5th St	0.46mi	5/2.0	1,968 (-12%)	7mo	$159,900	$81	48
1843 Susquehanna St	0.70mi	4/2.5 (-1)	2,000 (-11%)	11mo	$215,000	$108	29

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 · 1.55% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.32×
• Total profit: $12,886
• Equity at exit: $21,173

10-year hold

• IRR: 16.4%
• Equity multiple: 2.25×
• Total profit: $49,786
• Equity at exit: $12,278

Cash invested: $39,760 (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 17110

• Rents YoY: 1.6%
• Active inventory: 170
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,985 high
• Mortgage (P&I): −$745
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $608

Break-even live

Break-even rent $1,216

Max offer price $142,000

Occupancy floor 64%

Sensitivity live

Price	-10% $689	-5% $648	+0% $608	+5% $568	+10% $528
Rent	-10% $451	-5% $530	+0% $608	+5% $687	+10% $765
Rate	-1.0pp $680	-0.5pp $644	base $608	+0.5pp $571	+1.0pp $534

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2715 N 6th St Harrisburg, PA	4.0	1.0	1620	$1,650	$1.02	14d	1	0.33mi
2728 N 6th St Harrisburg, PA	4.0	2.0	1786	$1,750	$0.98	14d	1	0.36mi
2153 Penn St Harrisburg, PA	4.0	2.0	1620	$1,995	$1.23	44d	1	0.49mi
2032 Susquehanna St Harrisburg, PA	4.0	1.5	1600	$1,595	$1.00	44d	1	0.56mi
3015 N 5th St Harrisburg, PA	6.0	2.5	3356	$2,795	$0.83	14d	1	0.71mi
1834 Green St Harrisburg, PA	4.0	1.0	1792	$1,495	$0.83	24d	1	0.71mi
1716 N 6th St Unit NA Harrisburg, PA	4.0	4.0	2400	$2,000	$0.83	24d	1	0.74mi
1716 N 6th St Harrisburg, PA	4.0	3.5	2400	$2,200	$0.92	44d	1	0.74mi
1330 Susquehanna St Harrisburg, PA	4.0	1.5	2280	$1,895	$0.83	24d	1	1.11mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	44d	1	1.25mi

Listing history 4 events

1. 2026-06-18
   days on market $142,000 Active 3 DOM
2. 2026-06-17
   days on market $142,000 Active 2 DOM
3. 2026-06-15
   remarks 311-char remark
4. 2026-06-15
   listed $142,000 Active 1 DOM

ⓘ 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: $1,878 · $156/mo
• Projected year-2 tax: $2,061 · $172/mo
• Expected delta: +$183/yr (+$15/mo · 9.7%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $23,825
• − Mortgage interest: −$7,954
• − Property taxes: −$1,878
• − Insurance: −$710
• − Repairs & maintenance: −$1,906
• − Management: −$1,906
• − Depreciation: −$4,131
• Taxable income: $5,340
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $6,016/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): 27,364
• Household income: $80,699
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1037.0

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 0.66)
• Race & ethnicity: White 47% Black 32% Hispanic / Latino 9% Asian 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Italian 3% Romanian 2% Slovak 1%
• Foreign-born: 8% · Canada, India, Vietnam
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Vietnamese 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: ▼ -144.07%
• Current HPI: 257.826
• Rent YoY: ▲ 1.55%
• 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

+331.2% since first listed

5 events — show timeline

• 2026-06-15 Listed $142,000 BRIGHT MLS
• 2025-05-31 Rental Removed $1,200 APPFOLIO
• 2025-05-28 Price Changed $1,200 APPFOLIO
• 2025-05-22 Listed for Rent $1,000 APPFOLIO
• 1999-05-18 Sold (Public Records) $32,930 Public Records

Property tax history

+1.0%/yr

Latest (2026): $1,878 · +1.7% YoY. Source: county tax records.