1226 Market St · Harrisburg, PA 17103

$265,000

4 bd · 2.0 ba · 1,848 sqft · MultiFamily public records · 88 Days on market

Built 1910 871 sqft lot $143/sqft · 77% above area

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Why this score? — see what drove the D+ 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• Rent growth +4.8/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

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

Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

Key facts

• Built 1910
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive. Per door: $108/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (0.9% below list).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 84/100 on livability (#107 in PA, #826 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D, crime F.
• Harrisburg City SD (urban): math 6% / reading 13% proficiency, ranked #535 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.1%/yr); 68 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $2,625/mo this rent would consume 79% of the median local household income ($40k/yr) (locally 1014% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $74k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 8.4

CMA / ARV

• ARV (median comp): $165,944
• List price: $265,000
• Delta: 59.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 Market St	0.00mi	4/—	2,048 (+11%)	0mo	$260,000	$127	82
435 S 17th St	0.62mi	4/—	1,965 (+6%)	2mo	$200,000	$102	59
1535 Hunter St	0.55mi	4/2.0	2,004 (+8%)	9mo	$144,000	$72	52
405 S 14th St	0.46mi	5/— (+1)	1,980 (+7%)	12mo	$215,000	$109	52
169 S 18th St	0.51mi	3/— (-1)	1,730 (-6%)	10mo	$175,000	$101	52
1913 Bellevue Rd	0.64mi	3/2.0 (-1)	1,710 (-8%)	6mo	$119,000	$70	48
31 N 19th St	0.60mi	3/— (-1)	1,917 (+4%)	19mo	$125,100	$65	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.79×
• Total profit: $-15,238
• Equity at exit: $39,512

10-year hold

• IRR: 9.6%
• Equity multiple: 1.91×
• Total profit: $67,835
• Equity at exit: $22,912

Cash invested: $74,200 (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 17103

• Rents YoY: 9.1%
• Active inventory: 68
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $2,625 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$302 /mo · $3,622/yr
• Insurance: −$110
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $216

Break-even live

Break-even rent $2,351

Max offer price $265,000

Occupancy floor 87%

Sensitivity live

Price	-10% $366	-5% $291	+0% $216	+5% $141	+10% $66
Rent	-10% $9	-5% $113	+0% $216	+5% $320	+10% $424
Rate	-1.0pp $350	-0.5pp $284	base $216	+0.5pp $148	+1.0pp $78

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,626
Total (2 units)			$2,625

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	45d	1	0.03mi
52 Balm St Harrisburg, PA	3.0	1.0	1950	$1,495	$0.77	22d	1	0.14mi
29 S 15th St Harrisburg, PA	5.0	1.0	1285	$1,895	$1.47	24d	1	0.31mi
331 Hummel St Unit B Harrisburg, PA	3.0	1.0	1590	$1,800	$1.13	45d	1	0.34mi
14 S 17th St Harrisburg, PA	5.0	2.0	2136	$1,695	$0.79	15d	1	0.40mi
349 S 14th St Harrisburg, PA	3.0	1.0	1544	$1,450	$0.94	24d	1	0.41mi
66 N 17th St Harrisburg, PA	5.0	2.0	1845	$2,195	$1.19	45d	1	0.43mi
337 S 15th St Harrisburg, PA	3.0	1.0	1440	$1,195	$0.83	22d	1	0.44mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,600	$1.81	45d	1	0.50mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$3,000	$2.09	15d	10	0.50mi
111 N 17th St Harrisburg, PA	5.0	1.0	1800	$1,850	$1.03	15d	1	0.50mi
1414 Berryhill St Harrisburg, PA	5.0	2.0	1786	$1,700	$0.95	24d	1	0.51mi
1708 State St Harrisburg, PA	5.0	1.5	2320	$1,745	$0.75	22d	1	0.55mi
1610 Hunter St Harrisburg, PA	4.0	1.0	1776	$1,450	$0.82	24d	1	0.56mi
1429 Naudain St Harrisburg, PA	3.0	1.0	1254	$1,400	$1.12	24d	1	0.58mi
2016 Swatara St Harrisburg, PA	3.0	1.0	1380	$1,175	$0.85	45d	1	0.85mi
919 Penn St Harrisburg, PA	3.0	2.0	1458	$1,795	$1.23	24d	1	0.89mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	45d	1	1.00mi
1728 Paxton St Harrisburg, PA	3.0	1.5	1320	$1,295	$0.98	15d	1	1.01mi
1330 Susquehanna St Harrisburg, PA	4.0	1.5	2280	$1,895	$0.83	24d	1	1.03mi
1716 N 6th St Harrisburg, PA	4.0	3.5	2400	$2,200	$0.92	45d	1	1.16mi
1716 N 6th St Unit NA Harrisburg, PA	4.0	4.0	2400	$2,000	$0.83	24d	1	1.16mi
644 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,295	$1.00	45d	1	1.19mi
640 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,650	$1.28	45d	1	1.19mi
649 S 23rd St Unit 1 Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	45d	1	1.31mi
649 S 23rd St Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	22d	1	1.31mi
1841 N 4th St Harrisburg, PA	3.0	1.0	1376	$1,399	$1.02	24d	1	1.35mi
1841 N 3rd St Harrisburg, PA	3.0	1.0	1376	$1,399	$1.02	15d	1	1.38mi
1834 Green St Harrisburg, PA	4.0	1.0	1792	$1,495	$0.83	24d	1	1.43mi

Listing history 13 events

1. 2026-05-10
   status Pending 940-char remark

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

2. 2026-04-03
   price $265,000 940-char remark

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

3. 2026-02-12
   historical

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

4. 2026-02-12
   listed $275,000 Active 940-char remark

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

5. 2026-02-12
   listed $275,000 Active

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

6. 2026-02-11
   historical $275,000 940-char remark

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

7. 2026-02-11
   historical

   Show marketing remark (940 chars)

   Fully renovated 2-unit property offering flexible living or investment potential. This turnkey building features a spacious 3-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit, plus additional lower-level space suitable for office or storage use. Both units include updated kitchens with tile flooring and backsplash, stainless steel appliances, and bamboo laminate vinyl flooring throughout. Each unit is equipped with its own updated washer and dryer for added convenience. The property has been completely rebuilt from the studs up, including updated insulation, electrical wiring, windows, and individual heating and A/C systems providing modern efficiency and peace of mind for future owners. Conveniently located on Market Street near Cameron Street with easy access to downtown amenities and the Susquehanna River area. Ideal for owner-occupants seeking rental income or investors looking for a move-in-ready multifamily opportunity.

8. 2023-12-26
   soldstatus $245,000
9. 2023-12-21
   soldstatus $245,000 Closed
10. 2023-11-23
    status Pending
11. 2023-11-16
    listed $245,000 Active
12. 2023-06-29
    soldstatus $75,000
13. 1989-05-18
    soldstatus $75,000

ⓘ 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: $3,622 · $302/mo
• Projected year-2 tax: $3,904 · $325/mo
• Expected delta: +$283/yr (+$24/mo · 7.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $31,500
• − Mortgage interest: −$14,844
• − Property taxes: −$3,622
• − Insurance: −$1,992
• − Repairs & maintenance: −$2,520
• − Management: −$2,520
• − Depreciation: −$7,709
• Taxable loss: −$1,706
• Est. tax savings @ 24.0%: +$410
• After-tax cash flow: $3,005/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: Harrisburg City SD
• NCES district ID: 4211580
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $33,432
• Composite: 7.6/100
• National rank: #9945
• State rank: #535 of 539 in PA

Livability — Harrisburg

• Score: 84/100
• State rank: #107
• US rank: #826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisburg, PA
• County: Dauphin County · 247,857 people
• City population: 184,296
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 13,115
• Household income: $39,825
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 1014.0

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 0.66)
• Race & ethnicity: Black 47% Hispanic / Latino 31% White 18% Two or more races 10%
• Hispanic origin (detail): Mexican 4% Puerto Rican 18% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 83% English-only · Spanish 11% French/Haitian/Cajun 2% Tagalog/Filipino 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: ▼ -119.52%
• Current HPI: 211.455
• Rent YoY: ▲ 9.09%
• 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

+253.3% since first listed

13 events — show timeline

• 2026-05-10 Pending — BRIGHT MLS
• 2026-04-03 Price Changed $265,000 BRIGHT MLS
• 2026-02-12 Listing Removed — BRIGHT MLS
• 2026-02-12 Listed $275,000 BRIGHT MLS
• 2026-02-12 Listed $275,000 BRIGHT MLS
• 2026-02-11 Coming Soon $275,000 BRIGHT MLS
• 2026-02-11 Coming Soon — BRIGHT MLS
• 2023-12-26 Sold (Public Records) $245,000 Public Records
• 2023-12-21 Sold (MLS) $245,000 BRIGHT MLS
• 2023-11-23 Pending — BRIGHT MLS
• 2023-11-16 Listed $245,000 BRIGHT MLS
• 2023-06-29 Sold (Public Records) $75,000 Public Records
• 1989-05-18 Sold (Public Records) $75,000 Public Records

Property tax history

+7.5%/yr

Latest (2026): $3,622 · +1.7% YoY. Source: county tax records.