1811 Market St · Harrisburg, PA 17103

$160,000

5 bd · 2.0 ba · 1,746 sqft · MultiFamily public records · 18 Days on market

Built 1908 1,307 sqft lot Est $190k · 16% 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 +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.8/5.0
• Livability +4.2/5.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

A perfect opportunity for an investor or smart owner/occupant on this 2 unit Row/ Townhouse. The property is freshly painted with new carpet and flooring ready for tenants. If you are looking to live in one while renting out the other unit to supplement your mortgage; the 2nd floor unit is for you. If you prefer this as a straight investment property you can't beat this location: Close to public transportation.

Key facts

• 1,307 sq ft lot
• Built 1908
• Listed 18 days

Property features AI

Finance

• Financial info: Improvement assessed value recorded; Land assessed value recorded; Tax assessed value recorded; Rent control: No

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Above-grade finished area recorded
• Construction: Brick construction; Concrete perimeter foundation; Effective remodel/major renovation in 2026; Assessed year-built information from assessor
• Exterior features: Annual ground rent payment; No tidal water

Interior

• Bedrooms: One single-room unit; One three-bedroom unit
• Heating & cooling: Electric baseboard heating; Electric hot water
• Interior features: Two total units (multi-unit property); Units listed as Unit 1 and Unit 2; No furnished units

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 (+9.1%/yr); 66 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $2,432/mo this rent would consume 73% of the median local household income ($40k/yr) (locally 1014% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask is 78% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $72k; list at $160k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — 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 $157,600 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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: 1.52% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.01%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $190,314
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2014 Derry St	0.61mi	4/1.0 (-1)	1,699 (-3%)	2mo	$190,000	$112	56
435 S 17th St	0.47mi	4/— (-1)	1,965 (+12%)	2mo	$200,000	$102	51
405 S 14th St	0.51mi	5/—	1,980 (+13%)	12mo	$215,000	$109	44
1535 Hunter St	0.49mi	4/2.0 (-1)	2,004 (+15%)	9mo	$144,000	$72	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.93×
• Total profit: $41,651
• Equity at exit: $23,857

10-year hold

• IRR: 32.6%
• Equity multiple: 4.69×
• Total profit: $165,262
• Equity at exit: $13,834

Cash invested: $44,800 (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 17103

• Rents YoY: 9.1%
• Active inventory: 66
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,432 high
• Mortgage (P&I): −$839
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $859

Break-even live

Break-even rent $1,345

Max offer price $160,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,432
Total (2 units)			$2,432

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 S 17th St Harrisburg, PA	5.0	2.0	2136	$1,695	$0.79	14d	1	0.12mi
66 N 17th St Harrisburg, PA	5.0	2.0	1845	$2,195	$1.19	43d	1	0.18mi
29 S 15th St Harrisburg, PA	5.0	1.0	1285	$1,895	$1.47	23d	1	0.23mi
111 N 17th St Harrisburg, PA	5.0	1.0	1800	$1,850	$1.03	14d	1	0.25mi
1610 Hunter St Harrisburg, PA	4.0	1.0	1776	$1,450	$0.82	23d	1	0.48mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	43d	1	0.49mi
1414 Berryhill St Harrisburg, PA	5.0	2.0	1786	$1,700	$0.95	23d	1	0.58mi
2368 Canby St Harrisburg, PA	6.0	2.0	2142	$2,300	$1.07	21d	1	0.91mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,600	$1.81	43d	1	1.00mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$3,000	$2.09	14d	10	1.00mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	43d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $160,000 Active 18 DOM
2. 2026-06-17
   days on market $160,000 Active 17 DOM
3. 2026-06-16
   days on market $160,000 Active 16 DOM
4. 2026-06-15
   days on market $160,000 Active 15 DOM
5. 2026-06-14
   days on market $160,000 Active 13 DOM
6. 2026-06-13
   days on market $160,000 Active 12 DOM
7. 2026-06-10
   days on market $160,000 Active 10 DOM
8. 2026-06-09
   days on market $160,000 Active 9 DOM
9. 2026-06-08
   days on market $160,000 Active 8 DOM
10. 2026-06-07
    days on market $160,000 Active 7 DOM
11. 2026-06-03
    days on market $160,000 Active 3 DOM
12. 2026-06-02
    days on market $160,000 Active 2 DOM
13. 2026-06-01
    statusdays on market $160,000 Active 1 DOM
14. 2026-05-31
    days on market $160,000 Coming Soon 2 DOM
15. 2026-05-31
    remarks 699-char remark
16. 2026-05-31
    listed $160,000 Coming Soon 1 DOM

ⓘ 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: $1,878 · $156/mo
• Projected year-2 tax: $2,203 · $184/mo
• Expected delta: +$325/yr (+$27/mo · 17.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $29,184
• − Mortgage interest: −$8,962
• − Property taxes: −$1,878
• − Insurance: −$800
• − Repairs & maintenance: −$2,335
• − Management: −$2,335
• − Depreciation: −$4,655
• Taxable income: $8,220
• Est. tax owed @ 24.0%: −$1,973
• After-tax cash flow: $8,336/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): 13,115
• Household income: $39,825
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 1014.0

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 0.66)
• Race & ethnicity: Black 47% Hispanic / Latino 31% White 18% Two or more races 10%
• Hispanic origin (detail): Mexican 4% Puerto Rican 18% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 83% English-only · Spanish 11% French/Haitian/Cajun 2% Tagalog/Filipino 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: ▼ -119.52%
• Current HPI: 211.455
• Rent YoY: ▲ 9.09%
• 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

+708.1% since first listed

20 events — show timeline

• 2026-05-29 Coming Soon $160,000 BRIGHT MLS
• 2021-06-24 Sold (Public Records) $72,000 Public Records
• 2021-06-22 Sold (MLS) $72,000 BRIGHT MLS
• 2021-06-07 Pending — BRIGHT MLS
• 2021-06-03 Price Changed $80,000 BRIGHT MLS
• 2021-04-22 Listed $90,000 BRIGHT MLS
• 2017-04-24 Listing Removed — BRIGHT MLS
• 2016-10-24 Listed $45,000 BRIGHT MLS
• 2015-10-15 Sold (Public Records) $33,000 Public Records
• 2015-10-12 Sold (MLS) $33,000 BRIGHT MLS
• 2015-07-02 Listing Removed — BRIGHT MLS
• 2015-05-14 Listed $39,900 BRIGHT MLS
• 2014-08-30 Listing Removed — BRIGHT MLS
• 2014-02-04 Listed $44,900 BRIGHT MLS
• 2009-09-17 Sold (MLS) $19,000 BRIGHT MLS
• 2009-08-26 Listing Removed — BRIGHT MLS
• 2009-08-03 Listed $19,900 BRIGHT MLS
• 2004-04-19 Sold (Public Records) $54,000 Public Records
• 1997-05-08 Sold (Public Records) $55,000 Public Records
• 1990-03-20 Sold (Public Records) $19,800 Public Records

Property tax history

+1.0%/yr

Latest (2026): $1,878 · +1.6% YoY. Source: county tax records.