230 Godfrey St · Tulpehocken, PA 19507

$275,000

4 bd · 3.0 ba · 2,316 sqft · MultiFamily public records · 25 Days on market

Built 1890 0.44 ac lot

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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
• Appreciation +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Public Auction Saturday June 20, 2026, @12 Noon, Open House Saturday May 30 & June 6 from 1-3 PM. Buyer required a 10% non-refundable deposit. Settlement within 45 days. Buyer pays the 2% RE Transfer Tax. List price does not reflect the final sales price. * * 3 Unit Investment Property in Rehrersburg on . 44 Acres, 28x34 Barn, Unit #1- Main Level, Kitchen, LR, 1 BR, Bath, Laundry Hook-Up, $750 per month. Unit #2- 2 Story Efficiency Unit, Kitchen, LR, 1 Bedroom, 1 1/2 Baths, Laundry Hook-Up, (Landlord pays elec for this unit only because it is connected to the common area elec. ). $550 per month. Unit #3- Upper Level, Kitchen, LR, 2 Bedrooms, Bath, Laundry Hook-Up, $$950 per month. T

Key facts

• 0.44 acre lot
• 6 parking spots
• Built 1890

Property features AI

Finance

• Other: Fee simple ownership; Property condition listed as good; Three total units; Above grade finished area recorded as 2,316 (source: assessor)

Exterior

• Parking: Six total garage and parking spaces; Driveway with six spaces; Off-street and on-street parking available
• Utilities: 100 Amp electric service; Public sewer; Well water
• Home design: Detached structure; Stick-built with vinyl siding; Asphalt roof; Stone foundation
• Construction: Stick built construction; Vinyl siding; Stone foundation; Asphalt roof
• Exterior features: Level to sloping lot with road frontage; Barn on the property; Above grade and below grade other structures

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: Three rental units: two one-bedroom units and one two-bedroom unit
• Flooring: Carpet; Vinyl
• Heating & cooling: Hot water baseboard heating; Propane (owned) heating fuel; Oil hot water
• Interior features: Carpet and vinyl flooring; Basement with interior access, outside entrance, poured concrete foundation, unfinished

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×1bd/1.5ba + 1×2bd/1ba units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tulpehocken Area SD (rural): math 36% / reading 51% proficiency, ranked #273 of 539 in PA (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $270,875 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.47% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.80%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.6%
• Equity multiple: 4.10×
• Total profit: $238,871
• Equity at exit: $247,742

10-year hold

• IRR: 35.0%
• Equity multiple: 9.23×
• Total profit: $633,356
• Equity at exit: $534,265

Cash invested: $77,000 (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 19507

• Home prices YoY: 6.4%
• Active inventory: 18
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $4,041 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$237 /mo · $2,840/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$849
• Net cashflow: $1,399

Break-even live

Break-even rent $2,270

Max offer price $275,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,555	-5% $1,477	+0% $1,399	+5% $1,321	+10% $1,243
Rent	-10% $1,080	-5% $1,239	+0% $1,399	+5% $1,559	+10% $1,718
Rate	-1.0pp $1,538	-0.5pp $1,469	base $1,399	+0.5pp $1,328	+1.0pp $1,255

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,333
1× unit	1	1.5	$1,333
1× unit	2	1	$1,375
Total (3 units)			$4,041

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $275,000 Active 25 DOM
2. 2026-06-18
   days on market $275,000 Active 23 DOM
3. 2026-06-17
   days on market $275,000 Active 22 DOM
4. 2026-06-16
   days on market $275,000 Active 21 DOM
5. 2026-06-15
   days on market $275,000 Active 20 DOM
6. 2026-06-13
   days on market $275,000 Active 18 DOM
7. 2026-06-12
   days on market $275,000 Active 17 DOM
8. 2026-06-09
   days on market $275,000 Active 14 DOM
9. 2026-06-08
   days on market $275,000 Active 13 DOM
10. 2026-06-08
    days on market $275,000 Active 12 DOM
11. 2026-06-07
    days on market $275,000 Active 11 DOM
12. 2026-06-04
    days on market $275,000 Active 8 DOM
13. 2026-06-02
    days on market $275,000 Active 7 DOM
14. 2026-06-01
    days on market $275,000 Active 6 DOM
15. 2026-05-31
    days on market $275,000 Active 5 DOM
16. 2026-05-26
    listed $275,000 Active
17. 2001-01-04
    listed $124,900
18. 2001-01-04
    historical

ⓘ 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: $2,840 · $237/mo
• Projected year-2 tax: $3,592 · $299/mo
• Expected delta: +$753/yr (+$63/mo · 26.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $48,492
• − Mortgage interest: −$15,404
• − Property taxes: −$2,840
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,879
• − Management: −$3,879
• − Depreciation: −$8,000
• Taxable income: $13,114
• Est. tax owed @ 24.0%: −$3,147
• After-tax cash flow: $13,641/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: Tulpehocken Area SD
• NCES district ID: 4223820
• Math proficiency: 36% ▼ -19.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $60,653
• Composite: 38.36/100
• National rank: #4213
• State rank: #273 of 539 in PA

Livability — Tulpehocken

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Rehrersburg, PA
• Population (ZIP): 3,744

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 7% Italian 1% Iranian 1%
• Foreign-born: 2%
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 3%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.65%
• Current HPI: 377.2798
• 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

+120.2% since first listed

3 events — show timeline

• 2026-05-26 Listed $275,000 BRIGHT MLS
• 2001-01-04 Listing Removed — BRIGHT MLS
• 2001-01-04 Listed $124,900 BRIGHT MLS

Property tax history

+0.1%/yr

Latest (2026): $2,840 · +0.0% YoY. Source: county tax records.