219 Walnut St · York, PA 17403

$149,900

5 bd · 2.5 ba · 2,122 sqft · MultiFamily · 18 Days on market

Built 1900 2,134 sqft lot Est $191k · 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
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great opportunity to add to an existing portfolio! Short walk to Downtown, and a block from the Revolution Stadium. Bring your tool box to address the rear unit. Low taxes makes this a very high cap rate potential for you. Call for more details.

Key facts

• Led lighting
• Two-unit
• Separate entrances

Tags

• TWO-UNIT
• SEPARATE ENTRANCES
• OFF-STREET PARKING
• REPLACEMENT WINDOWS
• LED LIGHTING
• GRANITE KITCHEN

Property features AI

Finance

• Financial info: Property condition noted as below average; Total of 2 units, 2,122 finished square feet (estimated); 2 vacant units (Unit 1 and Unit 2)

Exterior

• Parking: Gravel driveway; 4 off-street spaces; On-street parking available (total of 4 garage/parking spaces listed)
• Utilities: Public water; Public sewer; Municipal trash
• Home design: End of row/townhouse; 2 stories; Fee simple ownership; Year remodeled/major update in 2022; Year built reported by assessor
• Construction: Stick-built construction with vinyl siding; Stone foundation; Double-pane replacement windows; Building not winterized
• Exterior features: Balcony; Patio(s); Above-grade other structures

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Flooring: Vinyl flooring
• Bathrooms: Tub/shower (full bathroom features listed)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Electric hot water
• Interior features: Tub shower; Breakfast area; Ceiling fan(s); Combination kitchen/dining; Dining area; Eat-in kitchen with table space; Recessed lighting; Upgraded countertops; Full unfinished basement
• Laundry & utility: Washer/dryer hookups only; Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 5.0% in York — 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 75/100 on livability (#427 in PA, #3,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime F, employment F.
• York City SD (urban): math 4% / reading 16% proficiency, ranked #534 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: William Penn Shs (math 22% / reading 8%, grade F, #407 of 437 statewide, top 94%, 1,534 students, 100% FRL) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 213 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• This rent runs 43% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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.
• Current owner paid $30k; list at $150k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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.
5. 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.
6. 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: 1.81% ✓
• Cap rate: 15.11%
• Cash-on-cash: 31.50%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $190,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
820 E Market St	0.71mi	5/—	2,150 (+1%)	0mo	$165,000	$77	64
708 E Philadelphia St	0.60mi	5/—	2,220 (+5%)	2mo	$175,000	$79	62
22 W King St	0.43mi	5/4.0	2,276 (+7%)	7mo	$215,000	$94	56
104 E College Ave	0.52mi	4/— (-1)	2,306 (+9%)	1mo	$171,000	$74	56
663 E Philadelphia St	0.52mi	5/—	2,319 (+9%)	11mo	$165,000	$71	52
665 E Philadelphia St	0.52mi	4/— (-1)	2,320 (+9%)	9mo	$190,000	$82	48
688 E Philadelphia St	0.56mi	4/2.0 (-1)	1,922 (-9%)	12mo	$172,400	$90	41
414 S George St	0.68mi	5/2.0	1,872 (-12%)	10mo	$173,000	$92	38
231 W Front St	0.72mi	6/2.0 (+1)	2,352 (+11%)	11mo	$205,000	$87	32
816 Latimer St	0.67mi	4/2.0 (-1)	1,869 (-12%)	12mo	$179,900	$96	32
215-217 Meade St	0.75mi	6/— (+1)	2,392 (+13%)	11mo	$289,900	$121	30
831 E Market St	0.72mi	4/— (-1)	2,406 (+13%)	13mo	$240,000	$100	28

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 2.19×
• Total profit: $49,874
• Equity at exit: $22,351

10-year hold

• IRR: 36.3%
• Equity multiple: 4.59×
• Total profit: $150,641
• Equity at exit: $12,961

Cash invested: $41,972 (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 17403

• Home prices YoY: -26.9%
• Rents YoY: 4.4%
• Active inventory: 213
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,706 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $1,102

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,205	-5% $1,154	+0% $1,102	+5% $1,050	+10% $998
Rent	-10% $888	-5% $995	+0% $1,102	+5% $1,209	+10% $1,316
Rate	-1.0pp $1,177	-0.5pp $1,140	base $1,102	+0.5pp $1,063	+1.0pp $1,023

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,706
Total (2 units)			$2,706

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
339 E Market St Unit 1 York, PA	4.0	1.5	1600	$1,650	$1.03	21d	1	0.20mi
631 Wallace St Unit 631 York, PA	4.0	1.0	1545	$1,325	$0.86	14d	1	0.47mi
720 Chestnut St Apt 2 York, PA	4.0	1.0	1400	$1,300	$0.93	14d	1	0.60mi
289 Union St York, PA	4.0	1.0	1450	$1,600	$1.10	44d	1	0.67mi
330 Smyser St York, PA	5.0	1.0	1634	$1,425	$0.87	44d	1	0.72mi
213 Kurtz Ave York, PA	5.0	1.0	1921	$1,850	$0.96	14d	1	0.90mi
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	44d	1	0.99mi
132 N West St York, PA	4.0	1.0	1560	$1,600	$1.03	14d	1	1.17mi
26 N West St York, PA	6.0	2.0	2100	$2,200	$1.05	21d	1	1.17mi
121 S Belvidere Ave Unit 121 York, PA	5.0	1.5	1846	$1,450	$0.79	44d	1	1.30mi
709 W Princess St York, PA	5.0	1.0	1829	$1,425	$0.78	44d	1	1.34mi

Listing history 15 events

1. 2026-06-18
   status $149,900 Pending 18 DOM
2. 2026-06-17
   days on market $149,900 Active 18 DOM
3. 2026-06-16
   days on market $149,900 Active 17 DOM
4. 2026-06-15
   days on market $149,900 Active 16 DOM
5. 2026-06-14
   days on market $149,900 Active 14 DOM
6. 2026-06-13
   days on market $149,900 Active 13 DOM
7. 2026-06-10
   days on market $149,900 Active 11 DOM
8. 2026-06-09
   days on market $149,900 Active 10 DOM
9. 2026-06-08
   days on market $149,900 Active 9 DOM
10. 2026-06-07
    days on market $149,900 Active 8 DOM
11. 2026-06-03
    days on market $149,900 Active 4 DOM
12. 2026-06-02
    days on market $149,900 Active 3 DOM
13. 2026-06-01
    days on market $149,900 Active 2 DOM
14. 2026-05-31
    remarks 398-char remark
15. 2026-05-31
    listed $149,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,472
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,598
• − Management: −$2,598
• − Depreciation: −$4,361
• Taxable income: $11,521
• Est. tax owed @ 24.0%: −$2,765
• After-tax cash flow: $10,457/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: York City SD
• NCES district ID: 4226820
• Math proficiency: 4% ▼ -7.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $29,470
• Composite: 7.61/100
• National rank: #9943
• State rank: #534 of 539 in PA

Livability — York

• Score: 75/100
• State rank: #427
• US rank: #3987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: York, PA
• County: York County · 278,806 people
• City population: 184,764
• Metro: York-Hanover, PA
• Population (ZIP): 40,287
• Household income: $75,384
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1305.0

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Arabic 1%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.51%
• Current HPI: 284.0731
• Rent YoY: ▲ 4.43%
• Metro: York-Hanover, 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

+554.6% since first listed

12 events — show timeline

• 2026-05-30 Listed $149,900 BRIGHT MLS
• 2021-05-21 Sold (MLS) $30,000 BRIGHT MLS
• 2021-04-08 Pending — BRIGHT MLS
• 2021-03-18 Relisted — BRIGHT MLS
• 2021-03-18 Pending — BRIGHT MLS
• 2021-03-18 Listed $39,000 BRIGHT MLS
• 2008-03-18 Sold (MLS) $35,000 BRIGHT MLS
• 2008-03-06 Listing Removed — BRIGHT MLS
• 2007-11-09 Listed $33,900 BRIGHT MLS
• 2007-06-22 Listing Removed — BRIGHT MLS
• 2007-06-21 Sold (MLS) $19,000 BRIGHT MLS
• 2006-12-07 Listed $22,900 BRIGHT MLS