700 Pennsylvania Ave · York, PA 17404

$230,000

3 bd · 2.0 ba · 2,591 sqft · MultiFamily public records · 9 Days on market

Built 1900 4,896 sqft lot $89/sqft · 10% above area Est $210k · 10% over ↓ 15% since listing

---

Why this score? — see what drove the C+ 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
• 1% rule +9.5/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• ARV discount +3.2/15.0
• 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: 3 units. confirmed

Listing remarks

Licensed 3-unit investment opportunity in York City offering strong income potential and flexibility. Currently vacant, giving the new owner the ability to set market rents from day one and maximize returns. Tenants responsible for electric while the landlord covers heat and hot water. The first and second floor units offer spacious layouts with large kitchens, separate dining rooms, comfortable living rooms, and one bedroom each, providing a layout that tenants truly value. The third floor unit is a 1 bedroom, 1 bath. A strong opportunity for an investor looking to establish or grow their portfolio with immediate upside and solid rental potential.

Key facts

• 4,896 sq ft lot
• Built 1900
• Listed 9 days

Property features AI

Finance

• Financial info: Total of 3 units with all 3 currently vacant

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Fee simple ownership
• Construction: Brick construction; Stone foundation; Above-grade and below-grade structures; Built year per assessor
• Exterior features: No tidal water

Interior

• Bedrooms: Three one-bedroom units (total units: 3)
• Heating & cooling: Hot water and central heating; Natural gas heating and hot water
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $961 ($12k/yr) — positive. Per door: $320/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 11.3% 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.
• Market conditions: Rents rising fast (+6.4%/yr); 249 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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).
• At $3,334/mo this rent would consume 51% of the median local household income ($79k/yr) (locally 722% 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $195k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $230,000

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 1900 — 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. 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?
6. 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.
7. 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.
8. 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: 1.45% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 5.7

CMA / ARV

• ARV (median comp): $210,000
• List price: $230,000
• Delta: 9.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 Pennsylvania Ave	0.00mi	3/—	2,601 (+0%)	0mo	$195,000	$75	99
725 Pennsylvania Ave	0.06mi	4/— (+1)	2,556 (-1%)	1mo	$220,000	$86	89
743 Madison Ave	0.07mi	4/2.0 (+1)	2,555 (-1%)	1mo	$229,000	$90	89
707 Pennsylvania Ave	0.03mi	3/—	2,348 (-9%)	1mo	$210,000	$89	82
646 Pennsylvania Ave	0.05mi	3/—	2,292 (-12%)	1mo	$210,000	$92	77
658 Pennsylvania Ave	0.03mi	4/2.0 (+1)	2,292 (-12%)	0mo	$210,000	$92	74
642 Pennsylvania Ave	0.06mi	4/— (+1)	2,292 (-12%)	1mo	$205,000	$89	72
730 Pennsylvania Ave	0.06mi	4/— (+1)	2,292 (-12%)	1mo	$210,000	$92	72
638 Pennsylvania Ave	0.07mi	4/— (+1)	2,292 (-12%)	9mo	$225,000	$98	65
726 W Philadelphia St	0.28mi	4/2.0 (+1)	2,256 (-13%)	6mo	$185,000	$82	55
311 Carlisle Ave	0.17mi	4/3.0 (+1)	2,244 (-13%)	9mo	$205,000	$91	53
1242 W King St	0.61mi	4/— (+1)	2,508 (-3%)	10mo	$200,000	$80	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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.56×
• Total profit: $35,751
• Equity at exit: $34,294

10-year hold

• IRR: 24.8%
• Equity multiple: 3.51×
• Total profit: $161,912
• Equity at exit: $19,886

Cash invested: $64,400 (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 17404

• Rents YoY: 6.4%
• Active inventory: 249
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,334 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$371 /mo · $4,452/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $961

Break-even live

Break-even rent $2,118

Max offer price $230,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,091	-5% $1,026	+0% $961	+5% $896	+10% $831
Rent	-10% $697	-5% $829	+0% $961	+5% $1,093	+10% $1,224
Rate	-1.0pp $1,077	-0.5pp $1,019	base $961	+0.5pp $901	+1.0pp $841

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,333
Total (3 units)			$3,334

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
702 W Philadelphia St Unit 2 York, PA	3.0	1.0	2154	$1,375	$0.64	44d	1	0.28mi
645 W Philadelphia St Unit 2ND FLOOR York, PA	3.0	1.0	2124	$1,100	$0.52	44d	1	0.30mi
901 W King St Unit 2 York, PA	2.0	1.0	2328	$975	$0.42	44d	1	0.44mi
537 W Jackson St York, PA	3.0	2.0	1795	$1,795	$1.00	14d	1	1.16mi
103 W 6th Ave Unit 2ND FLOOR York, PA	2.0	1.0	1896	$1,195	$0.63	44d	1	1.38mi
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	44d	1	1.46mi

Listing history 3 events

1. 2026-05-12
   status Pending 656-char remark
2. 2026-05-04
   listed $230,000 Active 656-char remark
3. 2026-05-02
   historical $230,000 656-char remark

ⓘ 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: $4,452 · $371/mo
• Projected year-2 tax: $4,452 · $371/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $40,008
• − Mortgage interest: −$12,884
• − Property taxes: −$4,452
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,201
• − Management: −$3,201
• − Depreciation: −$6,691
• Taxable income: $8,430
• Est. tax owed @ 24.0%: −$2,023
• After-tax cash flow: $9,507/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): 39,374
• Household income: $78,506
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 722.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Black 12% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 12% Russian/Polish/Slavic 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: ▼ -135.44%
• Current HPI: 237.5683
• Rent YoY: ▲ 6.38%
• 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

-15.2% since first listed

4 events — show timeline

• 2026-06-10 Sold (MLS) $195,000 BRIGHT MLS
• 2026-05-12 Pending — BRIGHT MLS
• 2026-05-04 Listed $230,000 BRIGHT MLS
• 2026-05-02 Coming Soon $230,000 BRIGHT MLS

Property tax history

+0.8%/yr

Latest (2026): $4,452 · +1.6% YoY. Source: county tax records.