265 Peffer St · Harrisburg, PA 17102

$219,900

4 bd · 2.0 ba · 1,684 sqft · MultiFamily public records · 7 Days on market

Built 1907 1,307 sqft lot

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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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. 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

Bank owned property is fully rented. Minor TLC needed. Immediate cash flow

Key facts

• Fully turn key
• Exposed brick wall
• 1,307 sq ft lot

Tags

• FULLY TURN KEY
• EXPOSED BRICK WALL
• SEPARATE ELECTRIC METERS

Property features AI

Finance

• Financial info: Two-unit property with two vacant units

Exterior

• Parking: On-street parking
• Utilities: 200+ amp electric service; Electric hot water; Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Historic property; Fee simple ownership; Effective remodel year 2025
• Construction: Brick construction; Permanent foundation; Two total units
• Exterior features: No tidal water

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Heating & cooling: Baseboard electric heating
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 8.8% vs local median 6.6% in Harrisburg — 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 84/100 on livability (#107 in PA, #826 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Harrisburg City SD (urban): math 6% / reading 13% proficiency, ranked #535 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harrisburg Hs (math 24% / reading 10%, grade F, #399 of 437 statewide, top 92%, 1,230 students, 100% FRL) — zoned schools average 100% FRL vs 82% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 58 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $2,357/mo this rent would consume 52% of the median local household income ($55k/yr) (locally 720% 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $19k; list at $220k implies a 1057% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1907 — 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 $219,900

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.07% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $146,508
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2151 Penn St	0.23mi	5/1.0 (+1)	1,620 (-4%)	20mo	$169,900	$105	58
2210 N 6th St	0.41mi	4/2.0	1,890 (+12%)	6mo	$160,000	$85	56
623 Camp St	0.47mi	4/—	1,785 (+6%)	17mo	$127,000	$71	54
1336 Susquehanna St	0.55mi	4/3.0	1,757 (+4%)	15mo	$440,000	$250	51
633 Emerald St	0.52mi	5/— (+1)	1,836 (+9%)	6mo	$160,000	$87	50
2546 Lexington St	0.73mi	4/—	1,704 (+1%)	17mo	$118,000	$69	50
1413 Green St	0.51mi	3/3.0 (-1)	1,728 (+3%)	20mo	$260,000	$150	47

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-7,355
• Equity at exit: $32,788

10-year hold

• IRR: 7.9%
• Equity multiple: 1.63×
• Total profit: $39,080
• Equity at exit: $19,013

Cash invested: $61,572 (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 17102

• Home prices YoY: -3.9%
• Rents YoY: 4.3%
• Active inventory: 58
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $2,357 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$166 /mo · $1,997/yr
• Insurance: −$92
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $395

Break-even live

Break-even rent $1,857

Max offer price $219,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,146
1× unit	2	1	$1,211
Total (2 units)			$2,357

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1841 N 3rd St Harrisburg, PA	3.0	1.0	1376	$1,399	$1.02	14d	1	0.09mi
1834 Green St Harrisburg, PA	4.0	1.0	1792	$1,495	$0.83	23d	1	0.09mi
2032 Susquehanna St Harrisburg, PA	4.0	1.5	1600	$1,595	$1.00	43d	1	0.09mi
2042 N 4th St Harrisburg, PA	3.0	1.0	1090	$1,400	$1.28	43d	1	0.15mi
1841 N 4th St Harrisburg, PA	3.0	1.0	1376	$1,399	$1.02	23d	1	0.16mi
320 Maclay St Harrisburg, PA	3.0	2.5	2237	$1,750	$0.78	14d	1	0.17mi
2118 N 4th St Harrisburg, PA	4.0	1.0	1383	$1,595	$1.15	43d	1	0.22mi
2153 Penn St Harrisburg, PA	4.0	2.0	1620	$1,995	$1.23	43d	1	0.25mi
2235 Logan St Harrisburg, PA	3.0	1.0	1406	$1,495	$1.06	43d	1	0.34mi
339 Emerald St Harrisburg, PA	3.0	1.5	1420	$1,650	$1.16	14d	1	0.38mi
640 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,650	$1.28	43d	1	0.41mi
644 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,295	$1.00	43d	1	0.41mi
652 Emerald St Harrisburg, PA	5.0	1.0	1550	$1,740	$1.12	43d	1	0.55mi
2406 Reel St Harrisburg, PA	4.0	1.0	1500	$1,395	$0.93	43d	1	0.56mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	43d	1	0.66mi
514 Radnor St Harrisburg, PA	4.0	1.0	1498	$1,600	$1.07	43d	1	0.78mi
919 Penn St Harrisburg, PA	3.0	2.0	1458	$1,795	$1.23	23d	1	0.82mi
2615 Waldo St Harrisburg, PA	3.0	1.0	1400	$1,095	$0.78	43d	1	0.89mi
2715 N 6th St Harrisburg, PA	4.0	1.0	1620	$1,650	$1.02	14d	1	0.95mi
2728 N 6th St Harrisburg, PA	4.0	2.0	1786	$1,750	$0.98	14d	1	0.97mi
2801 N 2nd St Apt A2 Harrisburg, PA	3.0	1.5	1200	$1,495	$1.25	43d	1	0.99mi
616 N Front St Lemoyne, PA	3.0	1.0	1408	$1,650	$1.17	43d	1	1.18mi
400 W Crestwood Dr Camp Hill, PA	1.0–3.0	1.0–2.0	1042	$2,071	$1.99	14d	14	1.24mi
52 Balm St Harrisburg, PA	3.0	1.0	1950	$1,495	$0.77	21d	1	1.39mi
21 Summit St Harrisburg, PA	3.0	1.0	1200	$1,550	$1.29	14d	1	1.42mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$3,000	$2.09	14d	10	1.47mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,600	$1.81	43d	1	1.47mi
1251 Bailey St Harrisburg, PA	3.0	1.0	1200	$1,500	$1.25	43d	1	1.47mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	43d	1	1.48mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $219,900 Pending 7 DOM
2. 2026-06-03
   days on market $219,900 Active 6 DOM
3. 2026-06-02
   days on market $219,900 Active 5 DOM
4. 2026-06-01
   days on market $219,900 Active 4 DOM
5. 2026-05-31
   days on market $219,900 Active 3 DOM
6. 2026-05-31
   days on market $219,900 Active 2 DOM
7. 2026-05-28
   listed $219,900 Active
8. 2014-06-10
   soldstatus $19,000 74-char remark

   Show marketing remark (74 chars)

   Bank owned property is fully rented. Minor TLC needed. Immediate cash flow

9. 2014-05-29
   historical 74-char remark

   Show marketing remark (74 chars)

   Bank owned property is fully rented. Minor TLC needed. Immediate cash flow

10. 2014-05-10
    listed $25,000 74-char remark

    Show marketing remark (74 chars)

    Bank owned property is fully rented. Minor TLC needed. Immediate cash flow

11. 2012-03-31
    historical
12. 2011-09-27
    listed $69,900
13. 2007-09-18
    soldstatus $61,000

ⓘ 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: $1,997 · $166/mo
• Projected year-2 tax: $2,736 · $228/mo
• Expected delta: +$739/yr (+$62/mo · 37.0%)

ⓘ 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 (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,284
• − Mortgage interest: −$12,318
• − Property taxes: −$1,997
• − Insurance: −$1,766
• − Repairs & maintenance: −$2,263
• − Management: −$2,263
• − Depreciation: −$6,397
• Taxable income: $1,281
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $4,436/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: Harrisburg City SD
• NCES district ID: 4211580
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $33,432
• Composite: 7.6/100
• National rank: #9945
• State rank: #535 of 539 in PA

Livability — Harrisburg

• Score: 84/100
• State rank: #107
• US rank: #826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisburg, PA
• County: Dauphin County · 247,857 people
• City population: 184,296
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 8,118
• Household income: $54,573
• Rent vs Own: 68.5% rent · 31.5% own
• Severe rent burden: 720.0

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 0.62)
• Race & ethnicity: White 54% Black 25% Hispanic / Latino 14% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Dominican 2%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam, South Korea
• Languages at home: 86% English-only · Spanish 9% Arabic 1% Other Asian/Pacific 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: ▼ -18.43%
• Current HPI: 451.4739
• Rent YoY: ▲ 4.29%
• 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

+260.5% since first listed

7 events — show timeline

• 2026-05-28 Listed $219,900 BRIGHT MLS
• 2014-06-10 Sold (MLS) $19,000 BRIGHT MLS
• 2014-05-29 Listing Removed — BRIGHT MLS
• 2014-05-10 Listed $25,000 BRIGHT MLS
• 2012-03-31 Listing Removed — BRIGHT MLS
• 2011-09-27 Listed $69,900 BRIGHT MLS
• 2007-09-18 Sold (Public Records) $61,000 Public Records

Property tax history

+0.9%/yr

Latest (2026): $1,997 · +1.6% YoY. Source: county tax records.