309-311 E Centre St · Shenandoah, PA 17976

$309,900

10 bd · 0.0 ba · 4,500 sqft · MultiFamily · 82 Days on market

Built 1920 5,663 sqft lot $69/sqft · 48% above area Est $209k · 48% over

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +6.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0

Multi-family units

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

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

Hello Investors!!! this is a 5 unit apartment building located just down the street from Mr's T's Perogies factory in Shenandoah PA. The building includes 1-1 bedroom, 3-2 bedroom and a third floor which is currently 3 bedroom with room to make it a 4/5 bedroom. There is street parking along and a parking lot in the back with room for 5 cars. All the apartments are very good size with very good tenants. All apartments have leases and security deposits. Gross rent roll of $50,000 yearly that can be even better and low expenses (Rent and expense sheet is available). I do have other properties for sale or willing to sell that range from 2-5 units. This property is being sold as is. * * * Please note this is a commercial building and you would need to discuss with your bank regarding acceptable loan type * * *

Key facts

• 5,663 sq ft lot
• Built 1920
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 1×1bd/?ba + 3×2bd/?ba + 1×3bd/?ba units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $325/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $310k).
• Recommended offer: $291k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#720 in PA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: commute F, employment F.
• Shenandoah Valley SD (town): math 20% / reading 38% proficiency, ranked #454 of 539 in PA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Shenandoah Valley El Sch (math 21% / reading 41%, grade F, #1,116 of 1,518 statewide, top 74%, 667 students, 100% FRL); Shenandoah Valley Jshs (math 22% / reading 32%, grade F, #365 of 437 statewide, top 85%, 539 students, 96% FRL) — zoned schools average 98% FRL vs 66% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 63 active listings in the ZIP; 169 units permitted in Schuylkill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.8% local appreciation)).
• Schuylkill County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $87k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $46k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $310k implies a 363% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $291,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.48% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.44%
• DSCR: 2.00
• GRM: 5.6

CMA / ARV

• ARV (median comp): $209,331
• List price: $309,900
• Delta: 48.04%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 402 Cherry St	0.51mi	10/4.0	3,876 (-14%)	23mo	$260,000	$67	18

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 2.78×
• Total profit: $154,723
• Equity at exit: $154,309

10-year hold

• IRR: 29.9%
• Equity multiple: 5.49×
• Total profit: $389,196
• Equity at exit: $250,164

Cash invested: $86,772 (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 17976

• Home prices YoY: 1.3%
• Active inventory: 63
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $4,575 medium
• Mortgage (P&I): −$1,625
• Tax from tax record: −$237 /mo · $2,848/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$961
• Net cashflow: $1,623

Break-even live

Break-even rent $2,521

Max offer price $309,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,798	-5% $1,710	+0% $1,623	+5% $1,535	+10% $1,447
Rent	-10% $1,261	-5% $1,442	+0% $1,623	+5% $1,803	+10% $1,984
Rate	-1.0pp $1,779	-0.5pp $1,701	base $1,623	+0.5pp $1,542	+1.0pp $1,461

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

Units	Beds	Baths	Est. rent
1× unit	1	—	$962
▸ 3× units	2	—	$2,886
1× unit	3	—	$725
Total (5 units)			$4,575

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $309,900 Active 82 DOM
2. 2026-06-21
   days on market $309,900 Active 81 DOM
3. 2026-06-18
   days on market $309,900 Active 79 DOM
4. 2026-06-17
   days on market $309,900 Active 78 DOM
5. 2026-06-16
   days on market $309,900 Active 77 DOM
6. 2026-06-15
   days on market $309,900 Active 76 DOM
7. 2026-06-13
   days on market $309,900 Active 74 DOM
8. 2026-06-12
   days on market $309,900 Active 73 DOM
9. 2026-06-09
   days on market $309,900 Active 70 DOM
10. 2026-06-08
    days on market $309,900 Active 69 DOM
11. 2026-06-08
    days on market $309,900 Active 68 DOM
12. 2026-06-07
    days on market $309,900 Active 67 DOM
13. 2026-06-04
    days on market $309,900 Active 64 DOM
14. 2026-06-02
    days on market $309,900 Active 63 DOM
15. 2026-06-01
    days on market $309,900 Active 62 DOM
16. 2026-05-31
    days on market $309,900 Active 61 DOM
17. 2026-03-31
    listed $355,900 Active 823-char remark

    Show marketing remark (823 chars)

    Hello Investors!!! this is a 5 unit apartment building located just down the street from Mr's T's Perogies factory in Shenandoah PA. The building includes 1-1 bedroom, 3-2 bedroom and a third floor which is currently 3 bedroom with room to make it a 4/5 bedroom. There is street parking along and a parking lot in the back with room for 5 cars. All the apartments are very good size with very good tenants. All apartments have leases and security deposits. Gross rent roll of $50,000 yearly that can be even better and low expenses (Rent and expense sheet is available). I do have other properties for sale or willing to sell that range from 2-5 units. This property is being sold as is. * * * Please note this is a commercial building and you would need to discuss with your bank regarding acceptable loan type * * *

18. 2020-07-14
    soldstatus $67,000
19. 2020-07-01
    soldstatus $67,000 Closed 352-char remark

    Show marketing remark (352 chars)

    5 Unit apartment building. All units are occupied with long term tenants. Rent includes heat water and sewer. Tenants pay for trash and electric hot water. Total income yearly 29,220.00. Total expenses 12,950.01. All units have range and refrigerator. Oil heat, hot water from furnace. Property sold as is. Spuare footage apx 4,700. Paved parking rear.

20. 2020-06-11
    status Pending 352-char remark

    Show marketing remark (352 chars)

    5 Unit apartment building. All units are occupied with long term tenants. Rent includes heat water and sewer. Tenants pay for trash and electric hot water. Total income yearly 29,220.00. Total expenses 12,950.01. All units have range and refrigerator. Oil heat, hot water from furnace. Property sold as is. Spuare footage apx 4,700. Paved parking rear.

21. 2020-03-20
    listed $75,000 Active 352-char remark

    Show marketing remark (352 chars)

    5 Unit apartment building. All units are occupied with long term tenants. Rent includes heat water and sewer. Tenants pay for trash and electric hot water. Total income yearly 29,220.00. Total expenses 12,950.01. All units have range and refrigerator. Oil heat, hot water from furnace. Property sold as is. Spuare footage apx 4,700. Paved parking rear.

22. 2017-12-09
    historical
23. 2017-06-09
    listed $92,000
24. 2006-08-30
    soldstatus $125,000
25. 1993-06-14
    soldstatus $59,802

ⓘ 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: $2,848 · $237/mo
• Projected year-2 tax: $3,872 · $323/mo
• Expected delta: +$1,024/yr (+$85/mo · 36.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,900
• − Mortgage interest: −$17,359
• − Property taxes: −$2,848
• − Insurance: −$1,550
• − Repairs & maintenance: −$4,392
• − Management: −$4,392
• − Depreciation: −$9,015
• Taxable income: $15,344
• Est. tax owed @ 24.0%: −$3,683
• After-tax cash flow: $15,789/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: Shenandoah Valley SD
• NCES district ID: 4221490
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $31,968
• Composite: 23.58/100
• National rank: #7851
• State rank: #454 of 539 in PA

Livability — Shenandoah

• Score: 71/100
• State rank: #720
• US rank: #7134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shenandoah, PA
• City population: 5,988
• Population (ZIP): 5,988

Population outlook (Schuylkill County) Hauer SSP2

• Today (2025): 137,447 people
• By 2030: 133,121 · -3.1%
• By 2040: 124,172 · -9.7%
• By 2050: 115,611 · -15.9%
• By 2075: 100,796 · -26.7%
• By 2100: 86,667 · -36.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 34% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 8% Dominican 11%
• Common ancestry: Romanian 20% Iranian 2% Scotch-Irish 2%
• Foreign-born: 10% · Canada
• Languages at home: 68% English-only · Spanish 30% Russian/Polish/Slavic 1%

Political lean MEDSL · Schuylkill

• 2024 margin: Solid R (+42.1) · D 28.5% · R 70.6%
• 2008→2024 swing: -33.4pp toward R · 2008: -8.7pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+39.9 2016: R+43.4 2012: R+13.4 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.84%
• Current HPI: 308.8036
• 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

+495.1% since first listed

9 events — show timeline

• 2026-03-31 Listed $355,900 BRIGHT MLS
• 2020-07-14 Sold (Public Records) $67,000 Public Records
• 2020-07-01 Sold (MLS) $67,000 BRIGHT MLS
• 2020-06-11 Pending — BRIGHT MLS
• 2020-03-20 Listed $75,000 BRIGHT MLS
• 2017-12-09 Listing Removed — BRIGHT MLS
• 2017-06-09 Listed $92,000 BRIGHT MLS
• 2006-08-30 Sold (Public Records) $125,000 Public Records
• 1993-06-14 Sold (Public Records) $59,802 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,848 · +3.3% YoY. Source: county tax records.