517 N Front St · Steelton, PA 17113

$249,900

3 bd · 3.0 ba · 2,294 sqft · MultiFamily public records · 74 Days on market

Built 1900 2,178 sqft lot $109/sqft · 22% above area Est $204k · 22% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

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 MLS

Fully rented and professionally managed 3-unit apartment building offering a strong addition to any investment portfolio. This property features three income-producing units with established tenancy, providing immediate and consistent rental income from day one. Professional management is already in place, offering a streamlined ownership experience and peace of mind for investors. The building offers a practical multi-unit layout designed for comfortable living and efficient property management. Each unit provides functional living spaces that appeal to long-term renters, supporting stable occupancy and dependable cash flow. Beware of dog in apartment 3. Conveniently located in Steelton, the property provides easy access to local shops, restaurants, parks, and everyday amenities, as well as nearby commuter routes connecting to Harrisburg and surrounding areas. Residents benefit from proximity to riverfront recreation, community services, and neighborhood conveniences. Whether you’re expanding your portfolio or entering the multifamily market, this fully leased triplex presents an opportunity to own a performing asset with management already in place. Schedule your tour today! This seller is selling 303 and 305 S Front St, 517 N Front ST, and 234 Locust St

Key facts

• 2,178 sq ft lot
• Built 1900
• Listed 74 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $470/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 6.9% in Steelton — 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 67/100 on livability (#971 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, crime F.
• Steelton-Highspire SD (suburban): math 2% / reading 9% proficiency, ranked #538 of 539 in PA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 68 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $3,835/mo this rent would consume 67% of the median local household income ($68k/yr) (locally 338% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.53% ✓
• Cap rate: 13.32%
• Cash-on-cash: 25.11%
• DSCR: 2.12
• GRM: 5.4

CMA / ARV

• ARV (median comp): $204,301
• List price: $249,900
• Delta: 22.32%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.4%
• Equity multiple: 1.70×
• Total profit: $49,223
• Equity at exit: $37,261

10-year hold

• IRR: 25.9%
• Equity multiple: 3.26×
• Total profit: $158,368
• Equity at exit: $21,607

Cash invested: $69,972 (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 17113

• Home prices YoY: -16.3%
• Active inventory: 68
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,835 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$151 /mo · $1,809/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$805
• Net cashflow: $1,409

Break-even live

Break-even rent $2,052

Max offer price $249,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,834
Total (3 units)			$3,835

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 7th St New Cumberland, PA	3.0	1.5	1800	$1,495	$0.83	23d	1	1.39mi

Listing history 19 events

1. 2026-05-31
   days on market $249,900 Active 74 DOM
2. 2026-05-31
   days on market $249,900 Active 73 DOM
3. 2026-04-25
   price $249,900 1282-char remark

   Show marketing remark (1282 chars)

   Fully rented and professionally managed 3-unit apartment building offering a strong addition to any investment portfolio. This property features three income-producing units with established tenancy, providing immediate and consistent rental income from day one. Professional management is already in place, offering a streamlined ownership experience and peace of mind for investors. The building offers a practical multi-unit layout designed for comfortable living and efficient property management. Each unit provides functional living spaces that appeal to long-term renters, supporting stable occupancy and dependable cash flow. Beware of dog in apartment 3. Conveniently located in Steelton, the property provides easy access to local shops, restaurants, parks, and everyday amenities, as well as nearby commuter routes connecting to Harrisburg and surrounding areas. Residents benefit from proximity to riverfront recreation, community services, and neighborhood conveniences. Whether you’re expanding your portfolio or entering the multifamily market, this fully leased triplex presents an opportunity to own a performing asset with management already in place. Schedule your tour today! This seller is selling 303 and 305 S Front St, 517 N Front ST, and 234 Locust St

4. 2026-04-17
   price $255,000 1282-char remark

   Show marketing remark (1282 chars)

   Fully rented and professionally managed 3-unit apartment building offering a strong addition to any investment portfolio. This property features three income-producing units with established tenancy, providing immediate and consistent rental income from day one. Professional management is already in place, offering a streamlined ownership experience and peace of mind for investors. The building offers a practical multi-unit layout designed for comfortable living and efficient property management. Each unit provides functional living spaces that appeal to long-term renters, supporting stable occupancy and dependable cash flow. Beware of dog in apartment 3. Conveniently located in Steelton, the property provides easy access to local shops, restaurants, parks, and everyday amenities, as well as nearby commuter routes connecting to Harrisburg and surrounding areas. Residents benefit from proximity to riverfront recreation, community services, and neighborhood conveniences. Whether you’re expanding your portfolio or entering the multifamily market, this fully leased triplex presents an opportunity to own a performing asset with management already in place. Schedule your tour today! This seller is selling 303 and 305 S Front St, 517 N Front ST, and 234 Locust St

5. 2026-04-09
   price $260,000 1282-char remark

   Show marketing remark (1282 chars)

   Fully rented and professionally managed 3-unit apartment building offering a strong addition to any investment portfolio. This property features three income-producing units with established tenancy, providing immediate and consistent rental income from day one. Professional management is already in place, offering a streamlined ownership experience and peace of mind for investors. The building offers a practical multi-unit layout designed for comfortable living and efficient property management. Each unit provides functional living spaces that appeal to long-term renters, supporting stable occupancy and dependable cash flow. Beware of dog in apartment 3. Conveniently located in Steelton, the property provides easy access to local shops, restaurants, parks, and everyday amenities, as well as nearby commuter routes connecting to Harrisburg and surrounding areas. Residents benefit from proximity to riverfront recreation, community services, and neighborhood conveniences. Whether you’re expanding your portfolio or entering the multifamily market, this fully leased triplex presents an opportunity to own a performing asset with management already in place. Schedule your tour today! This seller is selling 303 and 305 S Front St, 517 N Front ST, and 234 Locust St

6. 2026-03-19
   listed $265,000 Active 1282-char remark

   Show marketing remark (1282 chars)

   Fully rented and professionally managed 3-unit apartment building offering a strong addition to any investment portfolio. This property features three income-producing units with established tenancy, providing immediate and consistent rental income from day one. Professional management is already in place, offering a streamlined ownership experience and peace of mind for investors. The building offers a practical multi-unit layout designed for comfortable living and efficient property management. Each unit provides functional living spaces that appeal to long-term renters, supporting stable occupancy and dependable cash flow. Beware of dog in apartment 3. Conveniently located in Steelton, the property provides easy access to local shops, restaurants, parks, and everyday amenities, as well as nearby commuter routes connecting to Harrisburg and surrounding areas. Residents benefit from proximity to riverfront recreation, community services, and neighborhood conveniences. Whether you’re expanding your portfolio or entering the multifamily market, this fully leased triplex presents an opportunity to own a performing asset with management already in place. Schedule your tour today! This seller is selling 303 and 305 S Front St, 517 N Front ST, and 234 Locust St

7. 2026-03-11
   historical $265,000 1282-char remark

   Show marketing remark (1282 chars)

   Fully rented and professionally managed 3-unit apartment building offering a strong addition to any investment portfolio. This property features three income-producing units with established tenancy, providing immediate and consistent rental income from day one. Professional management is already in place, offering a streamlined ownership experience and peace of mind for investors. The building offers a practical multi-unit layout designed for comfortable living and efficient property management. Each unit provides functional living spaces that appeal to long-term renters, supporting stable occupancy and dependable cash flow. Beware of dog in apartment 3. Conveniently located in Steelton, the property provides easy access to local shops, restaurants, parks, and everyday amenities, as well as nearby commuter routes connecting to Harrisburg and surrounding areas. Residents benefit from proximity to riverfront recreation, community services, and neighborhood conveniences. Whether you’re expanding your portfolio or entering the multifamily market, this fully leased triplex presents an opportunity to own a performing asset with management already in place. Schedule your tour today! This seller is selling 303 and 305 S Front St, 517 N Front ST, and 234 Locust St

8. 2024-12-13
   historical $750
9. 2024-12-03
   price $750
10. 2024-11-27
    listed $775
11. 2024-11-17
    historical $775
12. 2024-10-28
    price $775
13. 2024-10-22
    listed $795
14. 2022-09-07
    soldstatus $180,000
15. 2022-08-29
    soldstatus $180,000 Closed 527-char remark

    Show marketing remark (527 chars)

    Excellent cash flow and investment opportunity! 3 unit-property available now. 1st floor 1 bedroom/1 bath is tenant-occupied, current rent $845. 2nd floor 2 bedroom/1 bath is also tenant-occupied to a 20+ year tenant, current rent $894. 3rd floor 1 bedroom/1bath is tenant-occupied, current rent $745. 1st and 3rd floor apartments were totally renovated in the last 12 months. New flooring, painting and carpet throughout. Schedule today!! SELLER WILL FINANCE 20% TO QUALIFIED BUYERS!!! Listing Agent is related to seller.

16. 2022-07-19
    status Pending 527-char remark

    Show marketing remark (527 chars)

    Excellent cash flow and investment opportunity! 3 unit-property available now. 1st floor 1 bedroom/1 bath is tenant-occupied, current rent $845. 2nd floor 2 bedroom/1 bath is also tenant-occupied to a 20+ year tenant, current rent $894. 3rd floor 1 bedroom/1bath is tenant-occupied, current rent $745. 1st and 3rd floor apartments were totally renovated in the last 12 months. New flooring, painting and carpet throughout. Schedule today!! SELLER WILL FINANCE 20% TO QUALIFIED BUYERS!!! Listing Agent is related to seller.

17. 2022-07-13
    listed $189,900 Active 527-char remark

    Show marketing remark (527 chars)

    Excellent cash flow and investment opportunity! 3 unit-property available now. 1st floor 1 bedroom/1 bath is tenant-occupied, current rent $845. 2nd floor 2 bedroom/1 bath is also tenant-occupied to a 20+ year tenant, current rent $894. 3rd floor 1 bedroom/1bath is tenant-occupied, current rent $745. 1st and 3rd floor apartments were totally renovated in the last 12 months. New flooring, painting and carpet throughout. Schedule today!! SELLER WILL FINANCE 20% TO QUALIFIED BUYERS!!! Listing Agent is related to seller.

18. 2022-02-26
    price $845
19. 1999-08-23
    soldstatus $32,000

ⓘ 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: $1,809 · $151/mo
• Projected year-2 tax: $2,879 · $240/mo
• Expected delta: +$1,070/yr (+$89/mo · 59.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $46,020
• − Mortgage interest: −$13,998
• − Property taxes: −$1,809
• − Insurance: −$1,916
• − Repairs & maintenance: −$3,682
• − Management: −$3,682
• − Depreciation: −$7,270
• Taxable income: $13,664
• Est. tax owed @ 24.0%: −$3,279
• After-tax cash flow: $13,626/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: Steelton-Highspire SD
• NCES district ID: 4222800
• Math proficiency: 2% ▼ -4.00%
• Reading proficiency: 9% ▼ -12.00%
• Median HH income: $40,685
• Composite: 4.98/100
• National rank: #10040
• State rank: #538 of 539 in PA

Livability — Steelton

• Score: 67/100
• State rank: #971
• US rank: #10606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steelton, PA
• County: Dauphin County · 247,857 people
• City population: 19,401
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 11,724
• Household income: $68,244
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 338.0

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 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 24% Black 22% Two or more races 19% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 11% Cuban 2%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 7% · Canada, India
• Languages at home: 80% English-only · Spanish 17% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -54.73%
• Current HPI: 281.6906
• Rent YoY: —
• 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

+680.9% since first listed

17 events — show timeline

• 2026-04-25 Price Changed $249,900 BRIGHT MLS
• 2026-04-17 Price Changed $255,000 BRIGHT MLS
• 2026-04-09 Price Changed $260,000 BRIGHT MLS
• 2026-03-19 Listed $265,000 BRIGHT MLS
• 2026-03-11 Coming Soon $265,000 BRIGHT MLS
• 2024-12-13 Rental Removed $750 RENTALBEAST
• 2024-12-03 Price Changed $750 RENTALBEAST
• 2024-11-27 Listed for Rent $775 RENTALBEAST
• 2024-11-17 Rental Removed $775 RENTALBEAST
• 2024-10-28 Price Changed $775 RENTALBEAST
• 2024-10-22 Listed for Rent $795 RENTALBEAST
• 2022-09-07 Sold (Public Records) $180,000 Public Records
• 2022-08-29 Sold (MLS) $180,000 BRIGHT MLS
• 2022-07-19 Pending — BRIGHT MLS
• 2022-07-13 Listed $189,900 BRIGHT MLS
• 2022-02-26 Price Changed $845 RENT.
• 1999-08-23 Sold (Public Records) $32,000 Public Records

Property tax history

+1.2%/yr

Latest (2026): $1,809 · +7.2% YoY. Source: county tax records.