369-1/2 S 2nd St · Steelton, PA 17113

$114,950

4 bd · 1.0 ba · 1,287 sqft · Townhouse · 59 Days on market

Built 1900 1,742 sqft lot Est $126k · 9% under ↓ 12% 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 +28.2/30.0
• ARV discount +11.5/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Updated Semi-Detached in Steelton Borough. Home Boasts Bright Open Floor Plan. Updated Kitchen w/ Gas Range. Fresh Paint, Vinyl Plank Flooring in Living Room and Dining Room. New Vinyl and New Carpet Throughout. 4 Large Bedrooms. Other Updates Include Roof, Windows & Mechanicals. Private Rear Yard with Bonus Lot w/ 2+ Off Street Parking Spots. Make This Your Next Home Today!

Key facts

• Open floor plan
• Off street parking
• Private rear yard

Tags

• OPEN FLOOR PLAN
• UPDATED KITCHEN
• PRIVATE REAR YARD
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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-, crime F, amenities 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.
• Zoned schools: Steelton-Highspire El Sch (math 2% / reading 12%, grade F, #1,491 of 1,518 statewide, top 98%, 738 students, 100% FRL); Steelton-Highspire Hs (math 2% / reading 6%, grade F, #434 of 437 statewide, top 99%, 599 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $16k (12%) 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: major 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 $111,501 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.59%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $126,126
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
337 S 3rd St	0.08mi	4/1.0	1,353 (+5%)	3mo	$165,000	$122	85
644 S 2nd St	0.33mi	3/1.0 (-1)	1,290 (+0%)	1mo	$152,000	$118	78
535 Saint Marys Dr	0.24mi	3/— (-1)	1,320 (+3%)	2mo	$130,000	$98	78
544 Spruce St	0.36mi	3/1.0 (-1)	1,260 (-2%)	1mo	$120,000	$95	74
533 Saint Marys Dr	0.24mi	3/1.0 (-1)	1,369 (+6%)	1mo	$140,000	$102	72
713 S Front St	0.40mi	3/1.0 (-1)	1,296 (+1%)	7mo	$113,500	$88	70
335 Poplar St	0.48mi	3/1.0 (-1)	1,347 (+5%)	1mo	$110,500	$82	64
337 Swatara St	0.34mi	4/1.0	1,425 (+11%)	3mo	$171,000	$120	64
331 Swatara St	0.33mi	3/1.5 (-1)	1,206 (-6%)	8mo	$75,000	$62	60
23 S 2nd St	0.44mi	3/1.0 (-1)	1,418 (+10%)	7mo	$99,000	$70	52
617 Monroe St	0.59mi	4/1.5	1,099 (-15%)	0mo	$185,000	$168	46
144 N 2nd St	0.61mi	4/1.0	1,455 (+13%)	5mo	$98,000	$67	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $4,608
• Equity at exit: $17,139

10-year hold

• IRR: 13.2%
• Equity multiple: 2.06×
• Total profit: $33,992
• Equity at exit: $9,939

Cash invested: $32,186 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $364

Break-even live

Break-even rent $1,006

Max offer price $114,950

Occupancy floor 70%

Sensitivity live

Price	-10% $444	-5% $404	+0% $364	+5% $325	+10% $285
Rent	-10% $249	-5% $307	+0% $364	+5% $422	+10% $480
Rate	-1.0pp $422	-0.5pp $394	base $364	+0.5pp $335	+1.0pp $304

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: $28,738
• Closing costs: $3,448
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Chestnut St Steelton, PA	3.0	1.0	1146	$1,250	$1.09	14d	1	0.14mi
640 S 2nd St Steelton, PA	3.0	1.5	1290	$1,400	$1.09	24d	1	0.35mi
322 Pine St Unit 2 Steelton, PA	3.0	1.0	1100	$995	$0.90	44d	1	0.53mi
316 N 2nd St Steelton, PA	3.0	1.5	1524	$1,600	$1.05	14d	1	0.75mi
314 Lincoln St Steelton, PA	3.0	1.0	1264	$1,595	$1.26	14d	1	0.76mi
325 Lincoln St Steelton, PA	3.0	1.0	1186	$1,250	$1.05	14d	1	0.78mi
508 N 2nd St Steelton, PA	3.0	1.5	1360	$1,450	$1.07	14d	1	0.89mi
465 Sunday Dr Harrisburg, PA	3.0	2.5	1540	$1,895	$1.23	14d	1	0.92mi

Listing history 10 events

1. 2026-03-30
   status Pending
2. 2026-03-04
   price $114,950
3. 2026-02-23
   price $120,950
4. 2026-02-23
   status Active
5. 2026-02-09
   status Pending
6. 2026-01-29
   status Active
7. 2026-01-29
   status Pending
8. 2026-01-16
   listed $130,950 Active
9. 2026-01-06
   historical
10. 2025-12-04
    listed $129,950 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,603
• − Mortgage interest: −$6,439
• − Property taxes: −$1,724
• − Insurance: −$575
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − Depreciation: −$3,344
• Taxable income: $2,704
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,724/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

-11.5% since first listed

10 events — show timeline

• 2026-03-30 Pending — BRIGHT MLS
• 2026-03-04 Price Changed $114,950 BRIGHT MLS
• 2026-02-23 Price Changed $120,950 BRIGHT MLS
• 2026-02-23 Relisted — BRIGHT MLS
• 2026-02-09 Pending — BRIGHT MLS
• 2026-01-29 Relisted — BRIGHT MLS
• 2026-01-29 Pending — BRIGHT MLS
• 2026-01-16 Listed $130,950 BRIGHT MLS
• 2026-01-06 Listing Removed — BRIGHT MLS
• 2025-12-04 Listed $129,950 BRIGHT MLS