227 N 3rd St · Columbia, PA 17512

$244,900

4 bd · 1.5 ba · 1,886 sqft · MultiFamily public records · 5 Days on market

Built 1850 2,614 sqft lot Est $258k · 5% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

Welcome to this move-in-ready Colombia Boro home! You will feel welcomed by the open and airy living area. This home offers 4 large bedrooms and 1.5 bathrooms. Entertaining is made easy with the privacy of a fenced yard! Come check out this well maintained home before it's gone!

Key facts

• Updated baths
• Front porch
• Oversized lr

Tags

• UPDATED KITCHEN
• UPDATED BATHS
• NATURAL GAS HVAC
• CENTRAL AIR
• FRONT PORCH
• OVERSIZED LR

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $245k).
• Cap rate 15.5% vs local median 4.0% in Columbia — 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 73/100 on livability (#538 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities D, schools D-.
• Columbia Borough SD (suburban): math 14% / reading 32% proficiency, ranked #482 of 539 in PA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.0%/yr); 126 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• At $4,702/mo this rent would consume 85% of the median local household income ($67k/yr) (locally 647% 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.
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $69k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y 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 $66/mo; built in 1850 — 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 $244,900

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.92% ✓
• Cap rate: 15.51%
• Cash-on-cash: 32.90%
• DSCR: 2.46
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $258,382
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 N 5th St	0.26mi	4/2.0	1,961 (+4%)	7mo	$320,000	$163	73
16 N 5th St	0.27mi	4/—	1,935 (+3%)	17mo	$314,900	$163	69
333 Cherry St	0.31mi	4/—	2,052 (+9%)	12mo	$200,001	$97	61
134 S 4th St	0.38mi	4/—	1,680 (-11%)	7mo	$230,000	$137	58
336 Cherry St	0.33mi	4/—	2,118 (+12%)	7mo	$230,000	$109	58
20 N 7th St	0.45mi	3/— (-1)	2,108 (+12%)	2mo	$230,000	$109	53

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 · 7.0% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 2.40×
• Total profit: $95,708
• Equity at exit: $36,515

10-year hold

• IRR: 40.9%
• Equity multiple: 5.68×
• Total profit: $320,611
• Equity at exit: $21,174

Cash invested: $68,572 (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 17512

• Home prices YoY: -23.7%
• Rents YoY: 7.0%
• Active inventory: 126
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $4,702 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$448 /mo · $5,378/yr
• Insurance: −$102
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$987
• Net cashflow: $1,814

Break-even live

Break-even rent $2,406

Max offer price $244,900

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$4,700
Total (4 units)			$4,702

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Locust St Columbia, PA	3.0	1.5	1768	$2,550	$1.44	23d	1	0.30mi
362 S 3rd St Columbia, PA	3.0	1.0	1266	$1,350	$1.07	43d	1	0.52mi
824 Apache Ln Wrightsville, PA	3.0	2.0	1900	$2,500	$1.32	13d	1	1.45mi

Listing history 19 events

1. 2026-05-04
   soldstatus $245,000
2. 2026-04-05
   status Pending
3. 2026-03-31
   listed $244,900 Active
4. 2022-05-12
   soldstatus $225,000
5. 2022-05-06
   soldstatus $225,000 Closed 279-char remark

   Show marketing remark (279 chars)

   Welcome to this move-in-ready Colombia Boro home! You will feel welcomed by the open and airy living area. This home offers 4 large bedrooms and 1.5 bathrooms. Entertaining is made easy with the privacy of a fenced yard! Come check out this well maintained home before it's gone!

6. 2022-04-01
   status Pending 279-char remark

   Show marketing remark (279 chars)

   Welcome to this move-in-ready Colombia Boro home! You will feel welcomed by the open and airy living area. This home offers 4 large bedrooms and 1.5 bathrooms. Entertaining is made easy with the privacy of a fenced yard! Come check out this well maintained home before it's gone!

7. 2022-03-28
   price $225,000 279-char remark

   Show marketing remark (279 chars)

   Welcome to this move-in-ready Colombia Boro home! You will feel welcomed by the open and airy living area. This home offers 4 large bedrooms and 1.5 bathrooms. Entertaining is made easy with the privacy of a fenced yard! Come check out this well maintained home before it's gone!

8. 2022-03-17
   listed $230,000 Active 279-char remark

   Show marketing remark (279 chars)

   Welcome to this move-in-ready Colombia Boro home! You will feel welcomed by the open and airy living area. This home offers 4 large bedrooms and 1.5 bathrooms. Entertaining is made easy with the privacy of a fenced yard! Come check out this well maintained home before it's gone!

9. 2021-09-20
   historical
10. 2021-08-20
    listed $225,000 Active
11. 2021-08-20
    historical
12. 2021-07-31
    listed $224,900 Active
13. 2019-05-28
    soldstatus $160,000
14. 2019-05-24
    soldstatus $160,000 Closed
15. 2019-04-10
    status Pending
16. 2019-04-03
    listed $159,900 Active
17. 2018-10-01
    historical
18. 2018-03-21
    listed $59,900
19. 1995-09-12
    soldstatus $59,000

ⓘ 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: $5,378 · $448/mo
• Projected year-2 tax: $5,378 · $448/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,424
• − Mortgage interest: −$13,718
• − Property taxes: −$5,378
• − Insurance: −$2,022
• − Repairs & maintenance: −$4,514
• − Management: −$4,514
• − Depreciation: −$7,124
• Taxable income: $19,153
• Est. tax owed @ 24.0%: −$4,597
• After-tax cash flow: $17,166/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: Columbia Borough SD
• NCES district ID: 4206360
• Math proficiency: 14% ▼ -11.00%
• Reading proficiency: 32% ▼ -12.00%
• Median HH income: $39,162
• Composite: 19.3/100
• National rank: #8799
• State rank: #482 of 539 in PA

Livability — Columbia

• Score: 73/100
• State rank: #538
• US rank: #5040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, PA
• County: Lancaster County · 390,309 people
• City population: 18,148
• Metro: Lancaster, PA
• Population (ZIP): 18,148
• Household income: $66,684
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 647.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 561,011 people
• By 2030: 570,969 · +1.8%
• By 2040: 585,929 · +4.4%
• By 2050: 591,056 · +5.4%
• By 2075: 594,747 · +6.0%
• By 2100: 558,850 · -0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 15% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Polish 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Lancaster

• 2024 margin: R (+15.9) · D 41.5% · R 57.5%
• 2008→2024 swing: -4.1pp toward R · 2008: -11.8pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.8 2016: R+19.7 2012: R+19.2 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.48%
• Current HPI: 278.1465
• Rent YoY: ▲ 7.00%
• Metro: Lancaster, 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

+315.3% since first listed

19 events — show timeline

• 2026-05-04 Sold (Public Records) $245,000 Public Records
• 2026-04-05 Pending — BRIGHT MLS
• 2026-03-31 Listed $244,900 BRIGHT MLS
• 2022-05-12 Sold (Public Records) $225,000 Public Records
• 2022-05-06 Sold (MLS) $225,000 BRIGHT MLS
• 2022-04-01 Pending — BRIGHT MLS
• 2022-03-28 Price Changed $225,000 BRIGHT MLS
• 2022-03-17 Listed $230,000 BRIGHT MLS
• 2021-09-20 Listing Removed — BRIGHT MLS
• 2021-08-20 Listing Removed — BRIGHT MLS
• 2021-08-20 Listed $225,000 BRIGHT MLS
• 2021-07-31 Listed $224,900 BRIGHT MLS
• 2019-05-28 Sold (Public Records) $160,000 Public Records
• 2019-05-24 Sold (MLS) $160,000 BRIGHT MLS
• 2019-04-10 Pending — BRIGHT MLS
• 2019-04-03 Listed $159,900 BRIGHT MLS
• 2018-10-01 Listing Removed — BRIGHT MLS
• 2018-03-21 Listed $59,900 BRIGHT MLS
• 1995-09-12 Sold (Public Records) $59,000 Public Records

Property tax history

+6.3%/yr

Latest (2026): $5,378 · -1.3% YoY. Source: county tax records.