550 Madison Ave · York, PA 17404

$236,900

6 bd · 2.0 ba · 2,796 sqft · MultiFamily public records · 5 Days on market

Built 1900 4,356 sqft lot Est $207k · 14% 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.2/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• 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

2 unit investment opportunity on the Avenues. Great location! Solid brick multifamily home with a first floor and second floor apartment. Live in one and rent the other! The first floor apartment has 2 bedrooms, living room, and kitchen. The apartment has a rear door that walks out to the back yard. The second floor apartment has 4 bedrooms and a balcony off of the kitchen. Hardwood floors throughout! Detached garage in the rear. There are washer/dryer hookups in the basements for tenants to have access to. Agents please read agent remarks. Please call for a private tour!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Financial info: Two-unit building with one unit leased and one unit vacant; Total actual rent reported: $28,440; Existing leases are month-to-month

Exterior

• Parking: Detached garage (rear entry) with 2 spaces
• Utilities: Public water; Public sewer; Electric hot water; Municipal trash service
• Home design: End of row townhouse; Fee simple ownership; Estimated year built
• Construction: Brick and stone construction; Rubber and slate roof; Other foundation
• Exterior features: No tidal water

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Flooring: Hardwood; Luxury vinyl plank
• Heating & cooling: Radiator heating (natural gas); Window air conditioning units (electric)
• Interior features: Wood floors; Hardwood and luxury vinyl plank flooring; Full poured concrete basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $237k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $237k).
• Cap rate 9.5% 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.
• Market conditions: Rents rising fast (+6.4%/yr); 249 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• This rent runs 44% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 6.4% rent growth), your $66k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago; this cycle's ask is 69% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $132k; list at $237k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $236,900

Questions for the listing agent

1. Built in 1900 — 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: 1.22% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.53%
• DSCR: 1.51
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $206,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
526 W Philadelphia St	0.34mi	7/— (+1)	2,896 (+4%)	2mo	$200,000	$69	71
19 Carlisle Ave	0.39mi	5/2.0 (-1)	2,754 (-2%)	4mo	$250,000	$91	71
449 Park St	0.27mi	5/— (-1)	2,911 (+4%)	7mo	$130,000	$45	70
659 Madison Ave	0.17mi	5/2.0 (-1)	2,899 (+4%)	17mo	$190,000	$66	67
742 Madison Ave	0.25mi	5/2.0 (-1)	2,628 (-6%)	9mo	$227,500	$87	66
746 W Philadelphia St	0.34mi	7/— (+1)	2,764 (-1%)	14mo	$170,000	$62	66
569 W Philadelphia St	0.29mi	5/— (-1)	2,540 (-9%)	8mo	$255,000	$100	60
339 W Philadelphia St	0.53mi	6/2.0	2,522 (-10%)	6mo	$180,000	$71	54
804 Pennsylvania Ave	0.30mi	5/— (-1)	2,520 (-10%)	18mo	$210,000	$83	50
202 N Penn St	0.41mi	5/2.5 (-1)	2,508 (-10%)	11mo	$186,500	$74	47
456-1/2 W Princess St	0.66mi	5/— (-1)	2,565 (-8%)	10mo	$130,000	$51	42
668 W King St	0.51mi	7/3.0 (+1)	2,429 (-13%)	18mo	$240,000	$99	30

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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.19×
• Total profit: $12,413
• Equity at exit: $35,323

10-year hold

• IRR: 17.1%
• Equity multiple: 2.63×
• Total profit: $107,987
• Equity at exit: $20,483

Cash invested: $66,332 (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 17404

• Rents YoY: 6.4%
• Active inventory: 249
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,891 high
• Mortgage (P&I): −$1,242
• Tax from tax record: −$306 /mo · $3,667/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $637

Break-even live

Break-even rent $2,084

Max offer price $236,900

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,352
1× unit	4	1	$1,539
Total (2 units)			$2,891

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: $59,225
• Closing costs: $7,107
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 N West St York, PA	6.0	2.0	2100	$2,200	$1.05	21d	1	0.38mi

Listing history 6 events

1. 2026-06-09
   status $236,900 Pending 5 DOM
2. 2026-06-08
   days on market $236,900 Active 5 DOM
3. 2026-06-07
   statusdays on market $236,900 Active 4 DOM
4. 2026-06-03
   days on market $236,900 Coming Soon 2 DOM
5. 2026-06-02
   remarks 693-char remark
6. 2026-06-02
   listed $236,900 Coming Soon 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: $3,667 · $306/mo
• Projected year-2 tax: $3,705 · $309/mo
• Expected delta: +$38/yr (+$3/mo · 1.0%)

ⓘ 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: $34,692
• − Mortgage interest: −$13,270
• − Property taxes: −$3,667
• − Insurance: −$1,184
• − Repairs & maintenance: −$2,775
• − Management: −$2,775
• − Depreciation: −$6,892
• Taxable income: $4,128
• Est. tax owed @ 24.0%: −$991
• After-tax cash flow: $6,656/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): 39,374
• Household income: $78,506
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 722.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Black 12% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 12% Russian/Polish/Slavic 1%

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: ▼ -135.44%
• Current HPI: 237.5683
• Rent YoY: ▲ 6.38%
• 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

+69.3% since first listed

8 events — show timeline

• 2026-06-02 Coming Soon $236,900 BRIGHT MLS
• 2021-10-18 Sold (Public Records) $132,500 Public Records
• 2021-10-15 Sold (MLS) $132,500 BRIGHT MLS
• 2021-10-15 Sold (MLS) $132,500 BRIGHT MLS
• 2021-07-03 Pending — BRIGHT MLS
• 2021-07-03 Pending — BRIGHT MLS
• 2021-06-17 Listed $139,900 BRIGHT MLS
• 2021-06-17 Listed $139,900 BRIGHT MLS

Property tax history

-2.8%/yr

Latest (2025): $3,667 · +0.9% YoY. Source: county tax records.