2031 N 4th St · Harrisburg, PA 17102

$115,000

4 bd · 1.0 ba · 1,700 sqft · Townhouse public records · 28 Days on market

Built 1906 1,306 sqft lot Est $189k · 39% 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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Great INVESTMENT or OWNER-OCCUPANCY Opportunity! Roof replaced in 2023. Conveniently located close to highway on/off ramps, public transportation, schools, shopping, Riverfront Park, the Farm Show Complex, Governor’s Mansion, and so much more, this property offers both location and potential. Step inside and you'll find a spacious first floor featuring a welcoming living room with a decorative fireplace that adds charm and character, a convenient half bath, and a generously sized dining room complete with a storage closet. The kitchen offers great functionality with a pantry closet, electric stove, refrigerator, dishwasher, microwave, and a built-in corner hutch that adds both style a

Key facts

• Decorative fireplace
• Spacious first floor
• Conveniently located

Tags

• INVESTMENT OPPORTUNITY
• OWNER-OCCUPANCY OPPORTUNITY
• CONVENIENTLY LOCATED
• PUBLIC TRANSPORTATION
• SPACIOUS FIRST FLOOR
• DECORATIVE FIREPLACE

Property features AI

Finance

• Other: Fee simple ownership; Ground rent paid annually; Property condition listed as average

Exterior

• Parking: On-street parking
• Security: Building not winterized
• Utilities: 100 Amp electric service; Public water; Public sewer; Municipal trash service
• Home design: Brick construction
• Construction: Brick exterior; Brick/mortar and stone foundation
• Exterior features: End-of-row townhouse; Not in a federal flood zone; Property manager present; Above- and below-grade structures

Interior

• Kitchen: Stove; Refrigerator; Dishwasher; Microwave
• Bedrooms: 3 bedrooms on the upper level (Bedrooms 1–3 listed)
• Flooring: Hardwood; Carpet; Vinyl; Ceramic tile
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main level)
• Heating & cooling: Forced air heating; Natural gas fuel; Electric hot water
• Interior features: Drywall walls and ceilings; Full, unfinished basement; Non-functioning fireplace (1)
• Laundry & utility: Washer/dryer hookup on lower floor

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 6.6% in Harrisburg — 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 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: 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.
• Zoned schools: Harrisburg Hs (math 24% / reading 10%, grade F, #399 of 437 statewide, top 92%, 1,230 students, 100% FRL) — zoned schools average 100% FRL vs 82% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 58 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $41k; list at $115k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1906 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.62%
• DSCR: 1.70
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $188,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 Muench St	0.16mi	5/1.0 (+1)	1,612 (-5%)	2mo	$112,000	$69	78
215 Muench St	0.26mi	4/1.5	1,776 (+4%)	3mo	$214,900	$121	76
2119 Green St	0.20mi	4/2.0	1,600 (-6%)	2mo	$176,000	$110	75
1702 Penn St	0.38mi	3/1.0 (-1)	1,680 (-1%)	3mo	$230,000	$137	73
542 Seneca St	0.43mi	5/1.5 (+1)	1,722 (+1%)	2mo	$170,000	$99	69
1914 Penn St	0.25mi	3/2.5 (-1)	1,599 (-6%)	4mo	$222,000	$139	64
448 Hamilton St	0.33mi	3/1.5 (-1)	1,584 (-7%)	2mo	$145,000	$92	64
1717 N 3rd St	0.31mi	3/2.5 (-1)	1,608 (-5%)	2mo	$255,000	$159	64
409 Emerald St	0.27mi	3/1.5 (-1)	1,535 (-10%)	4mo	$140,000	$91	61
2414 Reel St	0.44mi	4/1.5	1,522 (-10%)	3mo	$168,500	$111	58
1330 Susquehanna St	0.64mi	4/1.5	1,872 (+10%)	1mo	$190,000	$101	50
2447 N 2nd St	0.56mi	3/1.5 (-1)	1,540 (-9%)	3mo	$230,000	$149	48

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.32×
• Total profit: $10,223
• Equity at exit: $17,147

10-year hold

• IRR: 18.4%
• Equity multiple: 2.63×
• Total profit: $52,365
• Equity at exit: $9,943

Cash invested: $32,200 (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 17102

• Home prices YoY: -3.9%
• Rents YoY: 4.3%
• Active inventory: 58
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$603
• Tax from tax record: −$194 /mo · $2,325/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $419

Break-even live

Break-even rent $1,069

Max offer price $115,000

Occupancy floor 69%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2042 N 4th St Harrisburg, PA	3.0	1.0	1090	$1,400	$1.28	43d	1	0.05mi
320 Maclay St Harrisburg, PA	3.0	2.5	2237	$1,750	$0.78	13d	1	0.10mi
2118 N 4th St Harrisburg, PA	4.0	1.0	1383	$1,595	$1.15	43d	1	0.12mi
1841 N 4th St Harrisburg, PA	3.0	1.0	1376	$1,399	$1.02	23d	1	0.14mi
2032 Susquehanna St Harrisburg, PA	4.0	1.5	1600	$1,595	$1.00	43d	1	0.17mi
1841 N 3rd St Harrisburg, PA	3.0	1.0	1376	$1,399	$1.02	13d	1	0.18mi
2235 Logan St Harrisburg, PA	3.0	1.0	1406	$1,495	$1.06	43d	1	0.25mi
1834 Green St Harrisburg, PA	4.0	1.0	1792	$1,495	$0.83	23d	1	0.26mi
2153 Penn St Harrisburg, PA	4.0	2.0	1620	$1,995	$1.23	43d	1	0.28mi
339 Emerald St Harrisburg, PA	3.0	1.5	1420	$1,650	$1.16	13d	1	0.28mi
640 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,650	$1.28	43d	1	0.31mi
644 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,295	$1.00	43d	1	0.32mi
652 Emerald St Harrisburg, PA	5.0	1.0	1550	$1,740	$1.12	43d	1	0.39mi
2406 Reel St Harrisburg, PA	4.0	1.0	1500	$1,395	$0.93	43d	1	0.43mi
514 Radnor St Harrisburg, PA	4.0	1.0	1498	$1,600	$1.07	43d	1	0.66mi
2615 Waldo St Harrisburg, PA	3.0	1.0	1400	$1,095	$0.78	43d	1	0.74mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	43d	1	0.77mi
2715 N 6th St Harrisburg, PA	4.0	1.0	1620	$1,650	$1.02	13d	1	0.81mi
2728 N 6th St Harrisburg, PA	4.0	2.0	1786	$1,750	$0.98	13d	1	0.84mi
919 Penn St Harrisburg, PA	3.0	2.0	1458	$1,795	$1.23	23d	1	0.91mi
2801 N 2nd St Apt A2 Harrisburg, PA	3.0	1.5	1200	$1,495	$1.25	43d	1	0.93mi
616 N Front St Lemoyne, PA	3.0	1.0	1408	$1,650	$1.17	43d	1	1.36mi
52 Balm St Harrisburg, PA	3.0	1.0	1950	$1,495	$0.77	21d	1	1.38mi
400 W Crestwood Dr Camp Hill, PA	1.0–3.0	1.0–2.0	1042	$2,071	$1.99	13d	14	1.40mi
21 Summit St Harrisburg, PA	3.0	1.0	1200	$1,550	$1.29	13d	1	1.41mi
3216 Green St Harrisburg, PA	4.0	2.0	1550	$2,200	$1.42	13d	1	1.45mi
1251 Bailey St Harrisburg, PA	3.0	1.0	1200	$1,500	$1.25	43d	1	1.46mi
1517 Walnut St Harrisburg, PA	3.0	1.0	1172	$1,150	$0.98	43d	1	1.48mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	43d	1	1.48mi

Listing history 32 events

1. 2026-06-18
   days on market $115,000 Active 28 DOM
2. 2026-06-17
   days on market $115,000 Active 27 DOM
3. 2026-06-16
   days on market $115,000 Active 26 DOM
4. 2026-06-15
   days on market $115,000 Active 25 DOM
5. 2026-06-14
   days on market $115,000 Active 23 DOM
6. 2026-06-13
   days on market $115,000 Active 22 DOM
7. 2026-06-10
   days on market $115,000 Active 20 DOM
8. 2026-06-09
   days on market $115,000 Active 19 DOM
9. 2026-06-08
   days on market $115,000 Active 18 DOM
10. 2026-06-07
    days on market $115,000 Active 17 DOM
11. 2026-06-03
    days on market $115,000 Active 13 DOM
12. 2026-06-02
    days on market $115,000 Active 12 DOM
13. 2026-06-01
    days on market $115,000 Active 11 DOM
14. 2026-05-31
    days on market $115,000 Active 10 DOM
15. 2026-05-31
    days on market $115,000 Active 9 DOM
16. 2026-05-21
    listed $119,000 Active
17. 2025-11-17
    historical
18. 2025-10-11
    price $134,700
19. 2025-09-29
    price $136,500
20. 2025-08-25
    listed $139,500 Active
21. 2025-06-03
    historical
22. 2025-04-22
    price $144,500
23. 2025-03-27
    price $149,500
24. 2025-03-12
    listed $155,000 Active
25. 2020-07-20
    soldstatus $41,000 Closed
26. 2020-06-23
    status Pending
27. 2020-06-17
    listed $44,900 Active
28. 2010-08-26
    soldstatus $26,000
29. 2010-07-27
    historical
30. 2010-05-06
    listed $29,900
31. 1998-10-28
    soldstatus $50,000
32. 1995-07-07
    soldstatus $12,000

ⓘ 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: $2,325 · $194/mo
• Projected year-2 tax: $2,325 · $194/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 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $19,199
• − Mortgage interest: −$6,442
• − Property taxes: −$2,325
• − Insurance: −$575
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$3,345
• Taxable income: $3,440
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $4,205/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): 8,118
• Household income: $54,573
• Rent vs Own: 68.5% rent · 31.5% own
• Severe rent burden: 720.0

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 0.62)
• Race & ethnicity: White 54% Black 25% Hispanic / Latino 14% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Dominican 2%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam, South Korea
• Languages at home: 86% English-only · Spanish 9% Arabic 1% Other Asian/Pacific 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: ▼ -18.43%
• Current HPI: 451.4739
• Rent YoY: ▲ 4.29%
• 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

+891.7% since first listed

17 events — show timeline

• 2026-05-21 Listed $119,000 BRIGHT MLS
• 2025-11-17 Listing Removed — BRIGHT MLS
• 2025-10-11 Price Changed $134,700 BRIGHT MLS
• 2025-09-29 Price Changed $136,500 BRIGHT MLS
• 2025-08-25 Listed $139,500 BRIGHT MLS
• 2025-06-03 Listing Removed — BRIGHT MLS
• 2025-04-22 Price Changed $144,500 BRIGHT MLS
• 2025-03-27 Price Changed $149,500 BRIGHT MLS
• 2025-03-12 Listed $155,000 BRIGHT MLS
• 2020-07-20 Sold (MLS) $41,000 BRIGHT MLS
• 2020-06-23 Pending — BRIGHT MLS
• 2020-06-17 Listed $44,900 BRIGHT MLS
• 2010-08-26 Sold (MLS) $26,000 BRIGHT MLS
• 2010-07-27 Listing Removed — BRIGHT MLS
• 2010-05-06 Listed $29,900 BRIGHT MLS
• 1998-10-28 Sold (Public Records) $50,000 Public Records
• 1995-07-07 Sold (Public Records) $12,000 Public Records

Property tax history

+1.0%/yr

Latest (2026): $2,325 · +1.6% YoY. Source: county tax records.