38 W 5th St · Pottstown, PA 19464

$185,000

3 bd · 2.0 ba · 1,443 sqft · MultiFamily public records · 9 Days on market

Built 1924 2,916 sqft lot Est $238k · 22% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 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

Live in one and pay your mortgage with the other unit! Money making two unit with both tenants lease expiring in December. The upstairs tenant (pays $900 a month) and would like to stay. The downstairs tenant (pays $825) will be on a month to month lease until they find suitable housing if the new buyer would like.

Key facts

• 2,916 sq ft lot
• 2 parking spots
• Built 1924

Property features AI

Finance

• Other: Above-grade finished area and below-grade area sources are estimated
• Financial info: Property is fee simple ownership; Two total residential units with one currently vacant; Units not furnished
• HOA & community: HOA info not provided

Exterior

• Parking: Two total garage/parking spaces; Two off-street spaces; On-street parking available
• Security: Security details not specified
• Utilities: Public water; Public sewer; Circuit breaker electric service; Municipal trash service
• Home design: Semi-detached property; Pitched roof with architectural shingles; Entry level and facing direction not specified
• Construction: Brick construction; Stone foundation; Built year estimated (not specified)
• Exterior features: Exterior lighting; Sidewalks; Street lights; Porch(es)

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Vinyl; Carpet; Wood
• Bathrooms: Includes tub/shower (full bathroom details not specified)
• Heating & cooling: Electric baseboard heating; Hot water baseboard heating; Heating fuel: Electric and Oil; Electric hot water
• Interior features: Second kitchen; Attic; Tub with shower; Traditional floor plan; Plaster and drywall walls/ceilings
• Laundry & utility: Washer/dryer details not specified

🏷️ Possibly a rental listed for sale. The $185,000 price doesn't fit this home's estimated sale value (~$238,095) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $185k).
• Cap rate 17.4% vs local median 5.0% in Pottstown — 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 72/100 on livability (#643 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment D+, crime F.
• Pottstown SD (suburban): math 11% / reading 23% proficiency, ranked #504 of 539 in PA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lincoln El Sch (math 12% / reading 32%, grade F, #1,221 of 1,518 statewide, top 81%, 332 students, 100% FRL); Pottstown Ms (math 6% / reading 20%, grade F, #486 of 512 statewide, top 95%, 915 students, 100% FRL); Pottstown Shs (math 37% / reading 10%, grade F, #379 of 437 statewide, top 87%, 912 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 202 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).
• At $3,933/mo this rent would consume 59% of the median local household income ($80k/yr) (locally 1797% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Montgomery County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y ago; this cycle's ask is 42% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.13% ✓
• Cap rate: 17.36%
• Cash-on-cash: 39.54%
• DSCR: 2.76
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $238,095
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
468 N Evans St	0.58mi	3/—	1,421 (-2%)	2mo	$180,000	$127	68
47 W Third St	0.11mi	4/2.0 (+1)	1,554 (+8%)	18mo	$284,900	$183	62
524 N Franklin St	0.68mi	2/2.0 (-1)	1,364 (-6%)	20mo	$225,000	$165	38
443 Walnut St	0.71mi	4/2.0 (+1)	1,648 (+14%)	22mo	$190,000	$115	20

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 · 4.93% rent growth · sell at horizon

5-year hold

• IRR: 38.1%
• Equity multiple: 2.67×
• Total profit: $86,641
• Equity at exit: $27,584

10-year hold

• IRR: 45.6%
• Equity multiple: 5.81×
• Total profit: $249,189
• Equity at exit: $15,995

Cash invested: $51,800 (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 19464

• Rents YoY: 4.9%
• Active inventory: 202
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $3,933 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$353 /mo · $4,238/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$826
• Net cashflow: $1,707

Break-even live

Break-even rent $1,773

Max offer price $185,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,227
▸ 2× units	2	1	$2,706
Total (3 units)			$3,933

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 E 2nd St Pottstown, PA	3.0	1.5	1085	$2,000	$1.84	3d	1	0.20mi
130 E 4th St Unit 2 Pottstown, PA	3.0	1.0	1808	$1,850	$1.02	44d	1	0.26mi
122 E 3rd St Unit 3 Pottstown, PA	2.0	1.0	1200	$1,400	$1.17	44d	1	0.26mi
207 Manatawny St Unit B Pottstown, PA	2.0	1.0	900	$1,350	$1.50	3d	1	0.29mi
21 Walnut St Pottstown, PA	4.0	2.0	1791	$2,200	$1.23	5d	1	0.33mi
220 N Penn St Unit 1 Pottstown, PA	3.0	1.0	1184	$1,700	$1.44	24d	1	0.39mi
151 N Hanover St Unit 1 Pottstown, PA	2.0	1.0	1000	$1,600	$1.60	18d	1	0.39mi
422 Upland St Pottstown, PA	2.0–3.0	1.0–2.0	1082	$1,875	$1.73	1d	5	0.41mi
48 Chestnut St #2 Pottstown, PA	3.0	1.0	1100	$1,700	$1.55	44d	1	0.42mi
262 Beech St Unit 2 Pottstown, PA	2.0	1.0	1000	$1,550	$1.55	44d	1	0.45mi
262 Beech St Unit 2 Pottstown, PA	2.0	1.0	1841	$1,550	$0.84	24d	1	0.45mi
463 Spruce St Pottstown, PA	4.0	1.5	1574	$2,250	$1.43	44d	1	0.45mi
308 Walnut St Pottstown, PA	3.0	1.0	888	$1,950	$2.20	4d	1	0.53mi
351 Union Aly Pottstown, PA	4.0	1.5	1408	$1,995	$1.42	2d	1	0.57mi
365 Beech St Pottstown, PA	4.0	1.0	1670	$2,200	$1.32	44d	1	0.57mi
110 W Harmony Dr #107 Pottstown, PA	2.0	2.0	1248	$2,000	$1.60	1d	1	0.66mi
415 Walnut St Unit 1 Pottstown, PA	3.0	1.0	1730	$1,800	$1.04	24d	1	0.67mi
657 N Charlotte St Unit 2 Pottstown, PA	2.0	1.0	1050	$1,700	$1.62	1d	1	0.68mi
420 Chestnut St Unit 2 Pottstown, PA	2.0	1.5	1034	$1,795	$1.74	17d	1	0.73mi
457 Walnut St Pottstown, PA	3.0	1.0	1274	$1,600	$1.26	44d	1	0.74mi
56 S Charlotte St Pottstown, PA	2.0	1.5	909	$1,520	$1.67	1d	1	0.74mi
541 Lincoln Ave Pottstown, PA	3.0	1.0	1094	$1,975	$1.81	24d	1	0.78mi
226 Warren St Pottstown, PA	3.0	1.5	1180	$2,050	$1.74	17d	1	0.86mi
614 Beech St Pottstown, PA	3.0	1.5	1360	$1,900	$1.40	44d	1	0.87mi
450 South St Pottstown, PA	3.0	1.5	1024	$1,995	$1.95	44d	1	0.95mi
113 S Washington St Unit B Pottstown, PA	2.0	1.0	1000	$1,700	$1.70	5d	1	0.97mi
824 E High St Unit 3 Pottstown, PA	2.0	2.0	900	$1,650	$1.83	44d	1	1.24mi
814 South St Pottstown, PA	3.0	1.0	1008	$1,995	$1.98	24d	1	1.31mi
644 Kline Ave Pottstown, PA	2.0	1.0–1.5	1103	$2,195	$1.99	1d	2	1.38mi
303 Lemon St Stowe, PA	2.0	1.0	1000	$1,950	$1.95	44d	1	1.46mi

Listing history 23 events

1. 2026-06-13
   status $185,000 Pending 9 DOM
2. 2026-06-07
   statusdays on market $185,000 Active Under Contract 9 DOM
3. 2026-06-04
   days on market $185,000 Active 8 DOM
4. 2026-06-03
   days on market $185,000 Active 7 DOM
5. 2026-06-02
   days on market $185,000 Active 6 DOM
6. 2026-06-01
   days on market $185,000 Active 5 DOM
7. 2026-05-31
   days on market $185,000 Active 4 DOM
8. 2026-05-22
   historical $185,000
9. 2021-02-09
   soldstatus $129,900
10. 2021-01-15
    soldstatus $129,900 Closed 316-char remark

    Show marketing remark (316 chars)

    Live in one and pay your mortgage with the other unit! Money making two unit with both tenants lease expiring in December. The upstairs tenant (pays $900 a month) and would like to stay. The downstairs tenant (pays $825) will be on a month to month lease until they find suitable housing if the new buyer would like.

11. 2020-11-27
    status Pending 316-char remark

    Show marketing remark (316 chars)

    Live in one and pay your mortgage with the other unit! Money making two unit with both tenants lease expiring in December. The upstairs tenant (pays $900 a month) and would like to stay. The downstairs tenant (pays $825) will be on a month to month lease until they find suitable housing if the new buyer would like.

12. 2020-11-24
    listed $129,900 Active 316-char remark

    Show marketing remark (316 chars)

    Live in one and pay your mortgage with the other unit! Money making two unit with both tenants lease expiring in December. The upstairs tenant (pays $900 a month) and would like to stay. The downstairs tenant (pays $825) will be on a month to month lease until they find suitable housing if the new buyer would like.

13. 2019-10-25
    soldstatus $80,000
14. 2009-03-18
    soldstatus $112,000
15. 2009-03-16
    soldstatus $112,000 630-char remark

    Show marketing remark (630 chars)

    Beutiful Brick Twin in Pottstown borough with spacious living room and dining room. Great income opportunity, fully rented, long term tenants, see remarks below but once approved - rent to increase from 640.00 to possible 940.00. Positive cash flow, newer heater, separate electric meters, washer and dryer in basement, seperate basement entrances. Owner pays water, tenants pay electric and heat. Rear yard with 2 car off street parking, relax on the front porch! There is a possibility for owner occupant to live in on first level rent the upstairs. This one is priced right and ready to move! This is a turnkey opportunity!

16. 2009-01-17
    historical 630-char remark

    Show marketing remark (630 chars)

    Beutiful Brick Twin in Pottstown borough with spacious living room and dining room. Great income opportunity, fully rented, long term tenants, see remarks below but once approved - rent to increase from 640.00 to possible 940.00. Positive cash flow, newer heater, separate electric meters, washer and dryer in basement, seperate basement entrances. Owner pays water, tenants pay electric and heat. Rear yard with 2 car off street parking, relax on the front porch! There is a possibility for owner occupant to live in on first level rent the upstairs. This one is priced right and ready to move! This is a turnkey opportunity!

17. 2008-12-30
    historical
18. 2008-09-09
    listed $114,900 630-char remark

    Show marketing remark (630 chars)

    Beutiful Brick Twin in Pottstown borough with spacious living room and dining room. Great income opportunity, fully rented, long term tenants, see remarks below but once approved - rent to increase from 640.00 to possible 940.00. Positive cash flow, newer heater, separate electric meters, washer and dryer in basement, seperate basement entrances. Owner pays water, tenants pay electric and heat. Rear yard with 2 car off street parking, relax on the front porch! There is a possibility for owner occupant to live in on first level rent the upstairs. This one is priced right and ready to move! This is a turnkey opportunity!

19. 2008-09-09
    listed $114,900

    Show marketing remark (630 chars)

    Beutiful Brick Twin in Pottstown borough with spacious living room and dining room. Great income opportunity, fully rented, long term tenants, see remarks below but once approved - rent to increase from 640.00 to possible 940.00. Positive cash flow, newer heater, separate electric meters, washer and dryer in basement, seperate basement entrances. Owner pays water, tenants pay electric and heat. Rear yard with 2 car off street parking, relax on the front porch! There is a possibility for owner occupant to live in on first level rent the upstairs. This one is priced right and ready to move! This is a turnkey opportunity!

20. 2003-11-25
    soldstatus $80,000
21. 2003-10-31
    soldstatus $80,000
22. 2003-09-30
    historical
23. 2003-07-26
    listed $80,000

ⓘ 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: $4,238 · $353/mo
• Projected year-2 tax: $4,238 · $353/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,196
• − Mortgage interest: −$10,363
• − Property taxes: −$4,238
• − Insurance: −$925
• − Repairs & maintenance: −$3,776
• − Management: −$3,776
• − Depreciation: −$5,382
• Taxable income: $18,737
• Est. tax owed @ 24.0%: −$4,497
• After-tax cash flow: $15,983/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: Pottstown SD
• NCES district ID: 4219680
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 23% ▼ -19.00%
• Median HH income: $43,739
• Composite: 14.78/100
• National rank: #9390
• State rank: #504 of 539 in PA

Livability — Pottstown

• Score: 72/100
• State rank: #643
• US rank: #6257

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pottstown, PA
• County: Montgomery County · 712,331 people
• City population: 49,101
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 49,101
• Household income: $79,787
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1797.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 856,074 people
• By 2030: 870,887 · +1.7%
• By 2040: 891,195 · +4.1%
• By 2050: 896,417 · +4.7%
• By 2075: 903,212 · +5.5%
• By 2100: 843,240 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 15% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 7% Polish 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: 20.8pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+26.3 2016: D+21.1 2012: D+14.3 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.73%
• Current HPI: 271.9399
• Rent YoY: ▲ 4.93%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+131.2% since first listed

16 events — show timeline

• 2026-05-22 Coming Soon $185,000 BRIGHT MLS
• 2021-02-09 Sold (Public Records) $129,900 Public Records
• 2021-01-15 Sold (MLS) $129,900 BRIGHT MLS
• 2020-11-27 Pending — BRIGHT MLS
• 2020-11-24 Listed $129,900 BRIGHT MLS
• 2019-10-25 Sold (Public Records) $80,000 Public Records
• 2009-03-18 Sold (Public Records) $112,000 Public Records
• 2009-03-16 Sold (MLS) $112,000 BRIGHT MLS
• 2009-01-17 Listing Removed — BRIGHT MLS
• 2008-12-30 Listing Removed — BRIGHT MLS
• 2008-09-09 Listed $114,900 BRIGHT MLS
• 2008-09-09 Listed $114,900 BRIGHT MLS
• 2003-11-25 Sold (Public Records) $80,000 Public Records
• 2003-10-31 Sold (MLS) $80,000 BRIGHT MLS
• 2003-09-30 Listing Removed — BRIGHT MLS
• 2003-07-26 Listed $80,000 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2026): $4,238 · +5.1% YoY. Source: county tax records.