24 Philadelphia · Shillington, PA 19607

$499,000

30 bd · None ba · 5,304 sqft · MultiFamily public records · 124 Days on market

Built 1900 7,840 sqft lot ↓ 7% since listing

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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
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

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

Very rare 5 unit rental property in the heart of Shillington, Current annual rents total $58,200 with several units being under market value. 4 one bedroom units and 1 two bedroom unit. Gas heat and hot water paid by owner, trash and recycling paid by tenants. This would be a great starter property for the new investor or solid addition to a seasoned investors portfolio. Property is within walking distance to all major amenities and public transportation and when a unit does become available it is unusually rented within days. Property just passed the Shillington rental codes inspection.

Key facts

• 7,840 sq ft lot
• Built 1900
• Listed 124 days

Tags

• 5 UNIT RENTAL PROPERTY
• ANNUAL RENTS TOTAL 58200
• GAS HEAT AND HOT WATER
• WALKING DISTANCE TO AMENITIES
• PASSED RENTAL CODES INSPECTION

What this means for you Summary

Snapshot

• This is a 4×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $638/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $499k).
• Recommended offer: $439k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 4.8% in Shillington — 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 79/100 on livability (#230 in PA, #2,007 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Governor Mifflin SD (suburban): math 31% / reading 50% proficiency, ranked #325 of 539 in PA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cumru El Sch (math 42% / reading 47%, grade F, #815 of 1,518 statewide, top 56%, 406 students, 56% FRL); Governor Mifflin Ms (math 18% / reading 51%, grade F, #328 of 512 statewide, top 65%, 629 students, 54% FRL); Governor Mifflin Shs (math 50% / reading 24%, grade F, #288 of 437 statewide, top 66%, 1,480 students, 44% FRL) — zoned schools average 51% FRL vs 27% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 90 active listings in the ZIP; solid renter incomes; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).
• At $8,116/mo this rent would consume 120% of the median local household income ($81k/yr) (locally 469% 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $36k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $439,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 1.63% ✓
• Cap rate: 13.96%
• Cash-on-cash: 27.38%
• DSCR: 2.22
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.4%
• Equity multiple: 1.87×
• Total profit: $122,183
• Equity at exit: $74,403

10-year hold

• IRR: 29.5%
• Equity multiple: 3.63×
• Total profit: $367,800
• Equity at exit: $43,144

Cash invested: $139,720 (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 19607

• Home prices YoY: -14.1%
• Active inventory: 90
• Price-to-rent: 26.0×

Monthly cashflow live

• Estimated rent: $8,116 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$399 /mo · $4,785/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,704
• Net cashflow: $3,188

Break-even live

Break-even rent $4,080

Max offer price $499,000

Occupancy floor 56%

Sensitivity live

Price	-10% $3,471	-5% $3,329	+0% $3,188	+5% $3,047	+10% $2,906
Rent	-10% $2,547	-5% $2,868	+0% $3,188	+5% $3,509	+10% $3,829
Rate	-1.0pp $3,439	-0.5pp $3,315	base $3,188	+0.5pp $3,059	+1.0pp $2,927

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,408
1× unit	2	1	$1,709
Total (5 units)			$8,116

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-17
   status Pending
2. 2026-03-05
   historical
3. 2025-11-20
   price $499,000
4. 2025-11-20
   status Active
5. 2025-11-05
   status Pending
6. 2025-11-02
   historical
7. 2025-10-29
   price $510,000
8. 2025-10-14
   listed $535,000 Active

ⓘ 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: $4,785 · $399/mo
• Projected year-2 tax: $6,334 · $528/mo
• Expected delta: +$1,550/yr (+$129/mo · 32.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $97,392
• − Mortgage interest: −$27,952
• − Property taxes: −$4,785
• − Insurance: −$2,495
• − Repairs & maintenance: −$7,791
• − Management: −$7,791
• − Depreciation: −$14,516
• Taxable income: $32,062
• Est. tax owed @ 24.0%: −$7,695
• After-tax cash flow: $30,564/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: Governor Mifflin SD
• NCES district ID: 4210860
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $60,881
• Composite: 35.88/100
• National rank: #4815
• State rank: #325 of 539 in PA

Livability — Shillington

• Score: 79/100
• State rank: #230
• US rank: #2007

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B- Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shillington, PA
• County: Berks County · 195,629 people
• Metro: Reading, PA
• Population (ZIP): 24,045
• Household income: $81,346
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 469.0

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 22% Two or more races 12% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 14% Dominican 3%
• Common ancestry: Romanian 5% Italian 2% Slovak 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 14% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.25%
• Current HPI: 282.2782
• Rent YoY: —
• Metro: Reading, 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

-6.7% since first listed

8 events — show timeline

• 2026-03-17 Pending — BRIGHT MLS
• 2026-03-05 Listing Removed — BRIGHT MLS
• 2025-11-20 Price Changed $499,000 BRIGHT MLS
• 2025-11-20 Relisted — BRIGHT MLS
• 2025-11-05 Pending — BRIGHT MLS
• 2025-11-02 Listing Removed — BRIGHT MLS
• 2025-10-29 Price Changed $510,000 BRIGHT MLS
• 2025-10-14 Listed $535,000 BRIGHT MLS

Property tax history

+2.2%/yr

Latest (2026): $4,785 · +0.0% YoY. Source: county tax records.