2301 Old Berwick Rd · Espy, PA 17815

$229,000

5 bd · 3.0 ba · 2,616 sqft · MultiFamily · 200 Days on market

Good condition

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Rent growth +4.2/5.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• 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

This remodeled double home is ready for you to start generating income. Whether you're a first-time homebuyer looking to use rental income to cover expenses or an investor expanding your portfolio, this property is prepared to make you money. One unit features 3 BR, 1.5 baths & laundry the other has 2 BR, 1 bath & laundry. Each unit has separate utilities. The large corner lot provides

Key facts

• Listed 199 days

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $229k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#350 in PA, #3,066 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Central Columbia SD (suburban): math 58% / reading 73% proficiency, ranked #51 of 539 in PA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.8%/yr); 121 active listings in the ZIP; 82 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $3,315/mo this rent would consume 59% of the median local household income ($68k/yr) (locally 801% 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.
• Columbia County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.45% ✓
• Cap rate: 11.72%
• Cash-on-cash: 19.39%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.8% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 1.66×
• Total profit: $42,102
• Equity at exit: $34,145

10-year hold

• IRR: 26.9%
• Equity multiple: 3.81×
• Total profit: $180,246
• Equity at exit: $19,800

Cash invested: $64,120 (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 17815

• Home prices YoY: -33.0%
• Rents YoY: 6.8%
• Active inventory: 121
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,315 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $1,036

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,195	-5% $1,115	+0% $1,036	+5% $957	+10% $878
Rent	-10% $774	-5% $905	+0% $1,036	+5% $1,167	+10% $1,298
Rate	-1.0pp $1,152	-0.5pp $1,095	base $1,036	+0.5pp $977	+1.0pp $917

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,701
1× unit	2	1	$1,614
Total (2 units)			$3,315

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $229,000 Active 200 DOM
2. 2026-06-18
   days on market $229,000 Active 199 DOM
3. 2026-06-17
   days on market $229,000 Active 198 DOM
4. 2026-06-16
   days on market $229,000 Active 197 DOM
5. 2026-06-15
   days on market $229,000 Active 196 DOM
6. 2026-06-14
   days on market $229,000 Active 194 DOM
7. 2026-06-12
   days on market $229,000 Active 193 DOM
8. 2026-06-09
   days on market $229,000 Active 190 DOM
9. 2026-06-08
   days on market $229,000 Active 189 DOM
10. 2026-06-07
    days on market $229,000 Active 188 DOM
11. 2026-06-03
    days on market $229,000 Active 184 DOM
12. 2026-06-02
    days on market $229,000 Active 183 DOM
13. 2026-01-09
    price $229,000 400-char remark

    Show marketing remark (400 chars)

    This remodeled double home is ready for you to start generating income. Whether you're a first-time homebuyer looking to use rental income to cover expenses or an investor expanding your portfolio, this property is prepared to make you money. One unit features 3 BR, 1.5 baths & laundry the other has 2 BR, 1 bath & laundry. Each unit has separate utilities. The large corner lot provides

14. 2025-11-29
    listed $250,000 Active 400-char remark

    Show marketing remark (400 chars)

    This remodeled double home is ready for you to start generating income. Whether you're a first-time homebuyer looking to use rental income to cover expenses or an investor expanding your portfolio, this property is prepared to make you money. One unit features 3 BR, 1.5 baths & laundry the other has 2 BR, 1 bath & laundry. Each unit has separate utilities. The large corner lot provides

15. 2023-10-24
    price $189,000
16. 2023-10-24
    price $189,000
17. 2023-09-22
    listed $199,000 Active

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

Taxation est. · year 1

• Rental income: $39,780
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$3,182
• − Management: −$3,182
• − Depreciation: −$6,662
• Taxable income: $9,346
• Est. tax owed @ 24.0%: −$2,243
• After-tax cash flow: $10,192/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This remodeled double home is ready for immediate occupancy and generates rental income. The property features updated kitchens and bathrooms, and a well-maintained exterior.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace ceiling fans — Improves energy efficiency and comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace ceiling fans — Improves energy efficiency and comfort ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Central Columbia SD
• NCES district ID: 4205370
• Math proficiency: 58% ▼ -7.00%
• Reading proficiency: 73% ▼ -4.00%
• Median HH income: $54,278
• Composite: 55.99/100
• National rank: #1195
• State rank: #51 of 539 in PA

Livability — Espy

• Score: 77/100
• State rank: #350
• US rank: #3066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Espy, PA
• County: Columbia County · 29,790 people
• Metro: Bloomsburg-Berwick, PA
• Population (ZIP): 29,790
• Household income: $67,510
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 801.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 65,170 people
• By 2030: 64,054 · -1.7%
• By 2040: 61,131 · -6.2%
• By 2050: 57,526 · -11.7%
• By 2075: 50,259 · -22.9%
• By 2100: 44,756 · -31.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 4% Black 2% Asian 2%
• Common ancestry: Romanian 5% Iranian 2% Polish 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+31.0) · D 34.0% · R 65.0%
• 2008→2024 swing: -26.6pp toward R · 2008: -4.5pp · 2024: -31.0pp
• All cycles: 2024: R+31.0 2020: R+30.7 2016: R+32.8 2012: R+12.4 2008: R+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.98%
• Current HPI: 220.8076
• Rent YoY: ▲ 6.80%
• Metro: Bloomsburg-Berwick, 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

+15.1% since first listed

5 events — show timeline

• 2026-01-09 Price Changed $229,000 LCAR
• 2025-11-29 Listed $250,000 LCAR
• 2023-10-24 Price Changed $189,000 LCAR
• 2023-10-24 Price Changed $189,000 CSVBR
• 2023-09-22 Listed $199,000 CSVBR