2202 Madison St · Chester, PA 19013

$45,000

3 bd · 1.0 ba · 1,537 sqft · SingleFamily public records · 1 Days on market

Built 1929 3,223 sqft lot

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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
• 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

Listing remarks MLS

INVESTOR ALERT! Great opportunity for the savvy investor or handy homebuyer! This spacious twin is ready for its new owner, whether it's an investor looking for their first flip, looking to add to their growing portfolio, or a handy first time homebuyer who is willing to put some work in, you don't want to miss this opportunity. Downstairs features a large living room with fireplace, dining room, breakfast room, off of the kitchen there is a mud room/pantry area that leads to the backyard, upstairs features 3 bedrooms, a full bathroom, and an additional staircase leading to the kitchen. Fenced yard. Located minutes from Widener University right off of 22nd street. Close to bus stops, 476, miles from the Philadelphia Airport and city. It is currently occupied by a tenant on a month to month lease.

Key facts

• Built 1929

🏷️ Possibly a rental listed for sale. The $45,000 price doesn't fit this home's estimated sale value (~$331,992) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Cap rate 34.0% 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); 138 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• At $1,709/mo this rent would consume 50% 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 $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $45,000

Questions for the listing agent

1. Built in 1929 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.80% ✓
• Cap rate: 34.00%
• Cash-on-cash: 98.96%
• DSCR: 5.40
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $331,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 E 18th St	0.44mi	3/1.0	1,409 (-8%)	1mo	$242,000	$172	65
108 E Parkway Ave	0.46mi	3/1.5	1,624 (+6%)	8mo	$279,900	$172	61
30 W Avon Rd	0.48mi	4/1.0 (+1)	1,383 (-10%)	1mo	$310,000	$224	55
12 W Roland Rd	0.57mi	4/1.5 (+1)	1,603 (+4%)	10mo	$320,000	$200	51
101 E Chelton Rd	0.67mi	4/1.5 (+1)	1,498 (-2%)	9mo	$335,000	$224	50
29 Ridley Dr	0.62mi	2/3.0 (-1)	1,541 (+0%)	10mo	$406,300	$264	50
201 E Avon Rd	0.57mi	3/1.0	1,682 (+9%)	12mo	$300,000	$178	47
25 W Elbon Rd	0.64mi	3/1.5	1,409 (-8%)	9mo	$310,000	$220	47
116 E Chelton Rd	0.72mi	3/2.0	1,408 (-8%)	7mo	$319,900	$227	42
100 E Roland Rd	0.56mi	3/2.5	1,310 (-15%)	5mo	$260,250	$199	39
154 E Parkway Ave	0.51mi	4/2.0 (+1)	1,764 (+15%)	7mo	$320,000	$181	37
237-E Roland Rd	0.70mi	3/1.5	1,342 (-13%)	10mo	$290,000	$216	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 · 6.88% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.23×
• Total profit: $65,846
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 14.77×
• Total profit: $173,473
• Equity at exit: $3,891

Cash invested: $12,600 (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 19013

• Rents YoY: 6.9%
• Active inventory: 138
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,709 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $1,039

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,070	-5% $1,055	+0% $1,039	+5% $1,024	+10% $1,008
Rent	-10% $904	-5% $972	+0% $1,039	+5% $1,107	+10% $1,174
Rate	-1.0pp $1,062	-0.5pp $1,051	base $1,039	+0.5pp $1,027	+1.0pp $1,016

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W 21st St Chester, PA	4.0	1.5	1152	$1,850	$1.61	24d	1	0.20mi
314 E 24th St Chester, PA	2.0	1.0–1.5	800	$1,500	$1.88	5d	13	0.21mi
25 W Parkway Ave Chester, PA	3.0	1.0	1324	$1,600	$1.21	5d	1	0.36mi
330 W 21st St Chester, PA	3.0	1.0	1152	$1,500	$1.30	44d	1	0.40mi
206 W Parkway Ave Chester, PA	2.0	1.0	1666	$1,450	$0.87	24d	1	0.46mi
726 E 18th St Chester, PA	3.0	1.5	1584	$2,200	$1.39	15d	1	0.48mi
30 W Roland Rd Brookhaven, PA	3.0	1.0	1424	$1,695	$1.19	44d	1	0.56mi
1510 Washington Ave Chester, PA	4.0	1.5	1280	$2,000	$1.56	19d	1	0.75mi
1127 Walnut St Chester, PA	4.0	1.5	1312	$1,600	$1.22	8d	1	0.78mi
1016 Potter St Chester, PA	4.0	1.5	1536	$1,750	$1.14	24d	1	0.83mi
1012 Potter St Chester, PA	4.0	1.0	1536	$1,650	$1.07	44d	1	0.84mi
1118 Brown St Unit 318 Chester, PA	3.0	1.0	1092	$1,900	$1.74	15d	1	0.92mi
814 Upland St Chester, PA	3.0	1.0	1344	$1,525	$1.13	8d	1	0.94mi
608 E 9th St Unit 2 Chester, PA	2.0	1.0	1776	$1,400	$0.79	44d	1	0.96mi
610 E 9th St Apt 2 Claymont, DE	3.0	1.0	1760	$1,300	$0.74	44d	1	0.96mi
1312 E 13th St Crum Lynne, PA	3.0	1.0	1280	$1,940	$1.52	19d	1	1.18mi
1433 Grant Ave Unit B Woodlyn, PA	2.0	1.0	1200	$1,450	$1.21	44d	1	1.30mi
418 Penn St Chester, PA	3.0	1.0	1250	$1,350	$1.08	44d	1	1.32mi
800 Avondale Rd Unit I2-O Wallingford, PA	2.0	2.0	1848	$2,200	$1.19	15d	1	1.42mi
1224 Elson Rd Brookhaven, PA	3.0	2.0	1200	$1,900	$1.58	18d	1	1.45mi

Listing history 5 events

1. 2021-04-02
   listed $45,000
2. 2021-04-02
   historical
3. 2021-01-29
   soldstatus $43,000 Closed 807-char remark

   Show marketing remark (807 chars)

   INVESTOR ALERT! Great opportunity for the savvy investor or handy homebuyer! This spacious twin is ready for its new owner, whether it's an investor looking for their first flip, looking to add to their growing portfolio, or a handy first time homebuyer who is willing to put some work in, you don't want to miss this opportunity. Downstairs features a large living room with fireplace, dining room, breakfast room, off of the kitchen there is a mud room/pantry area that leads to the backyard, upstairs features 3 bedrooms, a full bathroom, and an additional staircase leading to the kitchen. Fenced yard. Located minutes from Widener University right off of 22nd street. Close to bus stops, 476, miles from the Philadelphia Airport and city. It is currently occupied by a tenant on a month to month lease.

4. 2020-12-21
   listed $45,000 807-char remark

   Show marketing remark (807 chars)

   INVESTOR ALERT! Great opportunity for the savvy investor or handy homebuyer! This spacious twin is ready for its new owner, whether it's an investor looking for their first flip, looking to add to their growing portfolio, or a handy first time homebuyer who is willing to put some work in, you don't want to miss this opportunity. Downstairs features a large living room with fireplace, dining room, breakfast room, off of the kitchen there is a mud room/pantry area that leads to the backyard, upstairs features 3 bedrooms, a full bathroom, and an additional staircase leading to the kitchen. Fenced yard. Located minutes from Widener University right off of 22nd street. Close to bus stops, 476, miles from the Philadelphia Airport and city. It is currently occupied by a tenant on a month to month lease.

5. 2020-12-21
   historical 807-char remark

   Show marketing remark (807 chars)

   INVESTOR ALERT! Great opportunity for the savvy investor or handy homebuyer! This spacious twin is ready for its new owner, whether it's an investor looking for their first flip, looking to add to their growing portfolio, or a handy first time homebuyer who is willing to put some work in, you don't want to miss this opportunity. Downstairs features a large living room with fireplace, dining room, breakfast room, off of the kitchen there is a mud room/pantry area that leads to the backyard, upstairs features 3 bedrooms, a full bathroom, and an additional staircase leading to the kitchen. Fenced yard. Located minutes from Widener University right off of 22nd street. Close to bus stops, 476, miles from the Philadelphia Airport and city. It is currently occupied by a tenant on a month to month lease.

ⓘ 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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,508
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$1,309
• Taxable income: $12,497
• Est. tax owed @ 24.0%: −$2,999
• After-tax cash flow: $9,470/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

+0.0% since first listed

5 events — show timeline

• 2021-04-02 Listing Removed — BRIGHT MLS
• 2021-04-02 Listed $45,000 BRIGHT MLS
• 2021-01-29 Sold (MLS) $43,000 BRIGHT MLS
• 2020-12-21 Listing Removed — BRIGHT MLS
• 2020-12-21 Listed $45,000 BRIGHT MLS

Property tax history

+20.5%/yr

Latest (2026): $4,541 · +143.3% YoY. Source: county tax records.