402 W 1st St · Birdsboro, PA 19508

$399,900

7 bd · 3.0 ba · 3,893 sqft · MultiFamily public records · 61 Days on market

Built 1904 4,260 sqft lot $103/sqft · 13% above area Est $364k · 10% 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• ARV discount +3.0/15.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Corner-lot, income-producing multi-unit in the heart of Birdsboro offering strong cash flow and long-term stability. This well-positioned property features a spacious 3-bedroom front unit, a 1-bedroom second-floor unit, and a separate 1-bedroom rear unit—providing a versatile unit mix that appeals to a wide tenant base. With monthly rents totaling $3,485 and annual expenses of approximately $11,500, this property delivers a solid return with consistent performance driven by mostly long-term tenants already in place. The corner location enhances curb appeal and accessibility, while the layout offers privacy between units—an attractive feature for tenant retention. Additional highlights include an attached garage designated for the rear unit, plus three additional off-street parking spaces in the rear—an in-demand feature that adds convenience and value for tenants. Each unit is equipped with its own separate high-efficiency combi heating system with on-demand hot water, eliminating the need for traditional tanks and providing continuous hot water while keeping systems efficient and modern. Ideally situated near local shops, dining, and major commuter routes including Route 422, this location provides easy access to Reading, King of Prussia, and surrounding areas. Strong rental demand in the Birdsboro market, combined with the property’s efficient layout and stable tenancy, make this a compelling addition to any investment portfolio.

Key facts

• Attached garage
• Multi-unit
• Spacious front unit

Tags

• CORNER-LOT
• MULTI-UNIT
• SPACIOUS FRONT UNIT
• SEPARATE REAR UNIT
• ATTACHED GARAGE
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $376k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#551 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Daniel Boone Area SD (suburban): math 38% / reading 52% proficiency, ranked #217 of 539 in PA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 83 active listings in the ZIP; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $400k implies a 602% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.79%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $363,539
• List price: $399,900
• Delta: 10.00%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $29,097
• Equity at exit: $59,626

10-year hold

• IRR: 16.0%
• Equity multiple: 2.31×
• Total profit: $146,436
• Equity at exit: $34,576

Cash invested: $111,972 (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 19508

• Home prices YoY: -25.6%
• Active inventory: 83
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $5,338 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$480 /mo · $5,761/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,121
• Net cashflow: $1,473

Break-even live

Break-even rent $3,473

Max offer price $399,900

Occupancy floor 67%

Sensitivity live

Price	-10% $1,700	-5% $1,586	+0% $1,473	+5% $1,360	+10% $1,247
Rent	-10% $1,052	-5% $1,262	+0% $1,473	+5% $1,684	+10% $1,895
Rate	-1.0pp $1,675	-0.5pp $1,575	base $1,473	+0.5pp $1,370	+1.0pp $1,264

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,258
▸ 2× units	1	1	$3,080
Total (3 units)			$5,338

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-15
   days on market $399,900 Active 61 DOM
2. 2026-06-13
   days on market $399,900 Active 59 DOM
3. 2026-06-13
   days on market $399,900 Active 58 DOM
4. 2026-06-09
   days on market $399,900 Active 55 DOM
5. 2026-06-08
   days on market $399,900 Active 54 DOM
6. 2026-06-07
   days on market $399,900 Active 53 DOM
7. 2026-06-04
   days on market $399,900 Active 50 DOM
8. 2026-06-03
   days on market $399,900 Active 49 DOM
9. 2026-06-02
   days on market $399,900 Active 48 DOM
10. 2026-06-01
    days on market $399,900 Active 47 DOM
11. 2026-05-31
    days on market $399,900 Active 46 DOM
12. 2026-05-08
    price $399,900 1479-char remark

    Show marketing remark (1479 chars)

    Corner-lot, income-producing multi-unit in the heart of Birdsboro offering strong cash flow and long-term stability. This well-positioned property features a spacious 3-bedroom front unit, a 1-bedroom second-floor unit, and a separate 1-bedroom rear unit—providing a versatile unit mix that appeals to a wide tenant base. With monthly rents totaling $3,485 and annual expenses of approximately $11,500, this property delivers a solid return with consistent performance driven by mostly long-term tenants already in place. The corner location enhances curb appeal and accessibility, while the layout offers privacy between units—an attractive feature for tenant retention. Additional highlights include an attached garage designated for the rear unit, plus three additional off-street parking spaces in the rear—an in-demand feature that adds convenience and value for tenants. Each unit is equipped with its own separate high-efficiency combi heating system with on-demand hot water, eliminating the need for traditional tanks and providing continuous hot water while keeping systems efficient and modern. Ideally situated near local shops, dining, and major commuter routes including Route 422, this location provides easy access to Reading, King of Prussia, and surrounding areas. Strong rental demand in the Birdsboro market, combined with the property’s efficient layout and stable tenancy, make this a compelling addition to any investment portfolio.

13. 2026-05-08
    price $404,900 1479-char remark

    Show marketing remark (1479 chars)

    Corner-lot, income-producing multi-unit in the heart of Birdsboro offering strong cash flow and long-term stability. This well-positioned property features a spacious 3-bedroom front unit, a 1-bedroom second-floor unit, and a separate 1-bedroom rear unit—providing a versatile unit mix that appeals to a wide tenant base. With monthly rents totaling $3,485 and annual expenses of approximately $11,500, this property delivers a solid return with consistent performance driven by mostly long-term tenants already in place. The corner location enhances curb appeal and accessibility, while the layout offers privacy between units—an attractive feature for tenant retention. Additional highlights include an attached garage designated for the rear unit, plus three additional off-street parking spaces in the rear—an in-demand feature that adds convenience and value for tenants. Each unit is equipped with its own separate high-efficiency combi heating system with on-demand hot water, eliminating the need for traditional tanks and providing continuous hot water while keeping systems efficient and modern. Ideally situated near local shops, dining, and major commuter routes including Route 422, this location provides easy access to Reading, King of Prussia, and surrounding areas. Strong rental demand in the Birdsboro market, combined with the property’s efficient layout and stable tenancy, make this a compelling addition to any investment portfolio.

14. 2026-04-15
    listed $424,900 Active 1479-char remark

    Show marketing remark (1479 chars)

    Corner-lot, income-producing multi-unit in the heart of Birdsboro offering strong cash flow and long-term stability. This well-positioned property features a spacious 3-bedroom front unit, a 1-bedroom second-floor unit, and a separate 1-bedroom rear unit—providing a versatile unit mix that appeals to a wide tenant base. With monthly rents totaling $3,485 and annual expenses of approximately $11,500, this property delivers a solid return with consistent performance driven by mostly long-term tenants already in place. The corner location enhances curb appeal and accessibility, while the layout offers privacy between units—an attractive feature for tenant retention. Additional highlights include an attached garage designated for the rear unit, plus three additional off-street parking spaces in the rear—an in-demand feature that adds convenience and value for tenants. Each unit is equipped with its own separate high-efficiency combi heating system with on-demand hot water, eliminating the need for traditional tanks and providing continuous hot water while keeping systems efficient and modern. Ideally situated near local shops, dining, and major commuter routes including Route 422, this location provides easy access to Reading, King of Prussia, and surrounding areas. Strong rental demand in the Birdsboro market, combined with the property’s efficient layout and stable tenancy, make this a compelling addition to any investment portfolio.

15. 1998-04-02
    historical
16. 1998-02-11
    soldstatus $57,000
17. 1997-11-10
    listed $99,900

ⓘ 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: $5,761 · $480/mo
• Projected year-2 tax: $6,040 · $503/mo
• Expected delta: +$279/yr (+$23/mo · 4.8%)

ⓘ 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 8 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $64,056
• − Mortgage interest: −$22,401
• − Property taxes: −$5,761
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,124
• − Management: −$5,124
• − Depreciation: −$11,633
• Taxable income: $12,013
• Est. tax owed @ 24.0%: −$2,883
• After-tax cash flow: $14,796/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: Daniel Boone Area SD
• NCES district ID: 4207290
• Math proficiency: 38% ▼ -9.00%
• Reading proficiency: 52% ▼ -14.00%
• Median HH income: $75,511
• Composite: 41.03/100
• National rank: #3584
• State rank: #217 of 539 in PA

Livability — Birdsboro

• Score: 73/100
• State rank: #551
• US rank: #5134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birdsboro, PA
• Population (ZIP): 15,066

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 6% Iranian 3% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -94.00%
• Current HPI: 273.8199
• Rent YoY: —
• Metro: —
• 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

+300.3% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $399,900 BRIGHT MLS
• 2026-05-08 Price Changed $404,900 BRIGHT MLS
• 2026-04-15 Listed $424,900 BRIGHT MLS
• 1998-04-02 Listing Removed — BRIGHT MLS
• 1998-02-11 Sold (Public Records) $57,000 Public Records
• 1997-11-10 Listed $99,900 BRIGHT MLS

Property tax history

+1.4%/yr

Latest (2026): $5,761 · +0.3% YoY. Source: county tax records.