632 S Pershing Ave · York, PA 17401

$210,000

3 bd · 1.0 ba · 1,408 sqft · MultiFamily public records · 3 Days on market

Built 1927 2,801 sqft lot

---

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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome home to this beautifully updated 3 bedroom home! Centrally located just minutes away from Route 83, Wellspan Hospital, shopping, dining and amenities. This home features hardwood floors, brand new carpeting, newer roof (2018), updated electrical, natural gas/hot water heating system, fireplace as well as updated kitchen and bathroom! Relax on your large front porch or step outside into your fenced in yard that is great for entertaining and easy to maintain. Heated lower level with loads of potential for finished recreational room with bath/bedroom. This home has been well maintained and owned by the same family for 60 years! Please do not wait and schedule your tour today!

Key facts

• Built 1927
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 9.1% 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.
• Zoned schools: William Penn Shs (math 22% / reading 8%, grade F, #407 of 437 statewide, top 94%, 1,534 students, 100% FRL) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 63 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $2,454/mo this rent would consume 69% of the median local household income ($43k/yr) (locally 1360% 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $59k 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 since 4y 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 $165k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $210,000

Questions for the listing agent

1. Built in 1927 — 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 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: 1.17% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.94%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.37% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.10×
• Total profit: $5,632
• Equity at exit: $31,312

10-year hold

• IRR: 15.0%
• Equity multiple: 2.41×
• Total profit: $82,833
• Equity at exit: $18,157

Cash invested: $58,800 (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 17401

• Home prices YoY: -16.5%
• Rents YoY: 6.4%
• Active inventory: 63
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,454 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$263 /mo · $3,154/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $487

Break-even live

Break-even rent $1,837

Max offer price $210,000

Occupancy floor 75%

Sensitivity live

Price	-10% $606	-5% $547	+0% $487	+5% $428	+10% $368
Rent	-10% $293	-5% $390	+0% $487	+5% $584	+10% $681
Rate	-1.0pp $593	-0.5pp $540	base $487	+0.5pp $433	+1.0pp $377

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,454
Total (2 units)			$2,454

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	44d	1	0.13mi
514 S Duke St York, PA	3.0	1.0	1289	$1,625	$1.26	21d	1	0.32mi
444 S Duke St York, PA	3.0	1.0	1200	$1,200	$1.00	44d	1	0.33mi
443 S Duke St York, PA	3.0	1.0	1028	$1,225	$1.19	44d	1	0.35mi
626 S Queen St York, PA	3.0	1.0	1526	$1,225	$0.80	21d	1	0.44mi
132 S Beaver St Apt 4 York, PA	2.0	2.0	1000	$1,250	$1.25	44d	1	0.46mi
208 Liberty Ct York, PA	3.0	1.0	1096	$1,195	$1.09	44d	1	0.51mi
537 W Jackson St York, PA	3.0	2.0	1795	$1,795	$1.00	14d	1	0.53mi
466 W College Ave York, PA	3.0	1.0	1068	$1,295	$1.21	44d	1	0.54mi
28 N George St Unit H York, PA	2.0	2.0	1400	$1,550	$1.11	44d	1	0.71mi
516 E Boundary Ave York, PA	2.0	1.0	1128	$1,200	$1.06	14d	1	0.75mi
648 W College Ave York, PA	3.0	1.0	1100	$1,275	$1.16	44d	1	0.79mi
715 Vander Ave York, PA	3.0	1.0	1180	$1,295	$1.10	14d	1	0.81mi
175 W Gay Ave York, PA	1.0–2.0	1.0	1219	$1,650	$1.35	14d	2	0.84mi
314 W Gay Ave York, PA	3.0	1.0	1060	$1,250	$1.18	21d	1	0.84mi
339 E Market St Unit 1 York, PA	4.0	1.5	1600	$1,650	$1.03	21d	1	0.89mi
251 N George St York, PA	2.0	2.0	1100	$1,595	$1.45	14d	1	0.94mi
231 Franklin Way York, PA	3.0	1.0	920	$1,195	$1.30	14d	1	0.96mi
289 Union St York, PA	4.0	1.0	1450	$1,600	$1.10	44d	1	0.97mi
245 Franklin Way York, PA	2.0	2.0	1240	$1,150	$0.93	14d	1	0.98mi
216 Park Pl York, PA	4.0	1.0	1192	$1,350	$1.13	14d	1	0.98mi
231 Roosevelt Ave York, PA	3.0	1.5	1584	$1,750	$1.10	14d	1	0.98mi
133 Stevens Ave York, PA	3.0	1.0	1200	$1,300	$1.08	44d	1	0.98mi
334 N Beaver St York, PA	3.0	1.0	1140	$1,050	$0.92	14d	1	1.01mi
588 Company St York, PA	3.0	1.5	1416	$1,475	$1.04	44d	1	1.02mi
132 N West St York, PA	4.0	1.0	1560	$1,600	$1.03	14d	1	1.04mi
925 W College Ave York, PA	4.0	1.0	1660	$1,425	$0.86	14d	1	1.05mi
428 Smith St York, PA	3.0	1.0	1522	$1,350	$0.89	14d	1	1.08mi
113 Arch St York, PA	4.0	1.0	1188	$1,200	$1.01	14d	1	1.11mi
446 Wallace St York, PA	3.0	1.0	1092	$1,295	$1.19	21d	1	1.13mi
450 Madison Ave York, PA	1.0–2.0	1.0	862	$1,250	$1.45	14d	1	1.24mi
30 N Franklin St York, PA	3.0	1.0	1400	$1,395	$1.00	44d	1	1.25mi
631 Wallace St Unit 631 York, PA	4.0	1.0	1545	$1,325	$0.86	14d	1	1.28mi
631 Roosevelt Ave Unit 2 York, PA	3.0	1.0	1170	$1,150	$0.98	14d	1	1.32mi
813 Madison Ave York, PA	2.0	1.5	1100	$1,175	$1.07	14d	1	1.32mi
720 Elm Ter York, PA	3.0	1.5	1200	$1,950	$1.62	21d	1	1.39mi
720 Chestnut St Apt 2 York, PA	4.0	1.0	1400	$1,300	$0.93	14d	1	1.39mi
40 N Tremont St #2 York, PA	3.0	1.0	900	$1,500	$1.67	44d	1	1.46mi
549 Lancaster Ave York, PA	3.0	1.0	1458	$1,875	$1.29	44d	1	1.48mi

Listing history 9 events

1. 2026-04-04
   status Pending
2. 2026-04-02
   listed $210,000 Active
3. 2026-03-26
   historical $210,000
4. 2022-07-19
   soldstatus $165,000
5. 2022-07-05
   soldstatus $165,000 Closed 690-char remark

   Show marketing remark (690 chars)

   Welcome home to this beautifully updated 3 bedroom home! Centrally located just minutes away from Route 83, Wellspan Hospital, shopping, dining and amenities. This home features hardwood floors, brand new carpeting, newer roof (2018), updated electrical, natural gas/hot water heating system, fireplace as well as updated kitchen and bathroom! Relax on your large front porch or step outside into your fenced in yard that is great for entertaining and easy to maintain. Heated lower level with loads of potential for finished recreational room with bath/bedroom. This home has been well maintained and owned by the same family for 60 years! Please do not wait and schedule your tour today!

6. 2022-06-29
   status Pending 690-char remark

   Show marketing remark (690 chars)

   Welcome home to this beautifully updated 3 bedroom home! Centrally located just minutes away from Route 83, Wellspan Hospital, shopping, dining and amenities. This home features hardwood floors, brand new carpeting, newer roof (2018), updated electrical, natural gas/hot water heating system, fireplace as well as updated kitchen and bathroom! Relax on your large front porch or step outside into your fenced in yard that is great for entertaining and easy to maintain. Heated lower level with loads of potential for finished recreational room with bath/bedroom. This home has been well maintained and owned by the same family for 60 years! Please do not wait and schedule your tour today!

7. 2022-06-27
   soldstatus $165,000 Closed 690-char remark

   Show marketing remark (690 chars)

   Welcome home to this beautifully updated 3 bedroom home! Centrally located just minutes away from Route 83, Wellspan Hospital, shopping, dining and amenities. This home features hardwood floors, brand new carpeting, newer roof (2018), updated electrical, natural gas/hot water heating system, fireplace as well as updated kitchen and bathroom! Relax on your large front porch or step outside into your fenced in yard that is great for entertaining and easy to maintain. Heated lower level with loads of potential for finished recreational room with bath/bedroom. This home has been well maintained and owned by the same family for 60 years! Please do not wait and schedule your tour today!

8. 2022-05-27
   status Pending 690-char remark

   Show marketing remark (690 chars)

   Welcome home to this beautifully updated 3 bedroom home! Centrally located just minutes away from Route 83, Wellspan Hospital, shopping, dining and amenities. This home features hardwood floors, brand new carpeting, newer roof (2018), updated electrical, natural gas/hot water heating system, fireplace as well as updated kitchen and bathroom! Relax on your large front porch or step outside into your fenced in yard that is great for entertaining and easy to maintain. Heated lower level with loads of potential for finished recreational room with bath/bedroom. This home has been well maintained and owned by the same family for 60 years! Please do not wait and schedule your tour today!

9. 2022-05-20
   listed $155,000 Active 690-char remark

   Show marketing remark (690 chars)

   Welcome home to this beautifully updated 3 bedroom home! Centrally located just minutes away from Route 83, Wellspan Hospital, shopping, dining and amenities. This home features hardwood floors, brand new carpeting, newer roof (2018), updated electrical, natural gas/hot water heating system, fireplace as well as updated kitchen and bathroom! Relax on your large front porch or step outside into your fenced in yard that is great for entertaining and easy to maintain. Heated lower level with loads of potential for finished recreational room with bath/bedroom. This home has been well maintained and owned by the same family for 60 years! Please do not wait and schedule your tour today!

ⓘ 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: $3,154 · $263/mo
• Projected year-2 tax: $3,236 · $270/mo
• Expected delta: +$82/yr (+$7/mo · 2.6%)

ⓘ 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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $29,448
• − Mortgage interest: −$11,763
• − Property taxes: −$3,154
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,356
• − Management: −$2,356
• − Depreciation: −$6,109
• Taxable income: $2,660
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $5,206/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: 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): 18,570
• Household income: $42,826
• Rent vs Own: 67.4% rent · 32.6% own
• Severe rent burden: 1360.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 31% Black 24% Two or more races 15%
• Hispanic origin (detail): Mexican 5% Puerto Rican 22% Dominican 10%
• Common ancestry: Romanian 2% Hispanic 1% Italian 1%
• Foreign-born: 14% · Canada
• Languages at home: 72% English-only · Spanish 25% French/Haitian/Cajun 2%

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: ▼ -63.82%
• Current HPI: 323.5537
• Rent YoY: ▲ 6.37%
• 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

+35.5% since first listed

9 events — show timeline

• 2026-04-04 Pending — BRIGHT MLS
• 2026-04-02 Listed $210,000 BRIGHT MLS
• 2026-03-26 Coming Soon $210,000 BRIGHT MLS
• 2022-07-19 Sold (Public Records) $165,000 Public Records
• 2022-07-05 Sold (MLS) $165,000 BRIGHT MLS
• 2022-06-29 Pending — BRIGHT MLS
• 2022-06-27 Sold (MLS) $165,000 BRIGHT MLS
• 2022-05-27 Pending — BRIGHT MLS
• 2022-05-20 Listed $155,000 BRIGHT MLS

Property tax history

+2.3%/yr

Latest (2025): $3,154 · +0.9% YoY. Source: county tax records.