546 Smith St · York, PA 17404

$179,900

3 bd · 1.5 ba · 1,328 sqft · MultiFamily public records · 3 Days on market

Built 1900 2,296 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• 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

Why rent when you can buy? Solidly built 3-bedroom 1.5 bath brick duplex home. Very spacious, fenced-in backyard, Possible 4th bedroom, or office located on the upper level, rear bedroom with balcony access. Solid brick construction freshly painted throughout. Updated energy efficient replacement windows throughout the whole home. This home is move-in ready, see it today!

Key facts

• Built 1900
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Cap rate 13.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• This rent runs 45% of the median local income ($79k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 20y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $55k; list at $180k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.63% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.11%
• DSCR: 2.21
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.67×
• Total profit: $33,871
• Equity at exit: $26,824

10-year hold

• IRR: 27.2%
• Equity multiple: 3.84×
• Total profit: $143,304
• Equity at exit: $15,554

Cash invested: $50,372 (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: 15.3×

Monthly cashflow live

• Estimated rent: $2,935 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$162 /mo · $1,946/yr
• Insurance: −$75
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $824

Break-even live

Break-even rent $1,891

Max offer price $179,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,934
Total (3 units)			$2,935

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
428 Smith St York, PA	3.0	1.0	1522	$1,350	$0.89	13d	1	0.09mi
289 Union St York, PA	4.0	1.0	1450	$1,600	$1.10	44d	1	0.21mi
133 Stevens Ave York, PA	3.0	1.0	1200	$1,300	$1.08	44d	1	0.23mi
334 N Beaver St York, PA	3.0	1.0	1140	$1,050	$0.92	13d	1	0.25mi
175 W Gay Ave York, PA	1.0–2.0	1.0	1219	$1,650	$1.35	13d	2	0.35mi
314 W Gay Ave York, PA	3.0	1.0	1060	$1,250	$1.18	21d	1	0.36mi
216 Park Pl York, PA	4.0	1.0	1192	$1,350	$1.13	13d	1	0.39mi
251 N George St York, PA	2.0	2.0	1100	$1,595	$1.45	13d	1	0.41mi
450 Madison Ave York, PA	1.0–2.0	1.0	862	$1,250	$1.45	13d	1	0.43mi
231 Roosevelt Ave York, PA	3.0	1.5	1584	$1,750	$1.10	13d	1	0.43mi
113 Arch St York, PA	4.0	1.0	1188	$1,200	$1.01	13d	1	0.46mi
720 Elm Ter York, PA	3.0	1.5	1200	$1,950	$1.62	21d	1	0.50mi
631 Roosevelt Ave Unit 2 York, PA	3.0	1.0	1170	$1,150	$0.98	13d	1	0.51mi
28 N George St Unit H York, PA	2.0	2.0	1400	$1,550	$1.11	44d	1	0.57mi
588 Company St York, PA	3.0	1.5	1416	$1,475	$1.04	44d	1	0.65mi
231 Franklin Way York, PA	3.0	1.0	920	$1,195	$1.30	13d	1	0.69mi
132 N West St York, PA	4.0	1.0	1560	$1,600	$1.03	13d	1	0.69mi
245 Franklin Way York, PA	2.0	2.0	1240	$1,150	$0.93	13d	1	0.70mi
42 Laurel St York, PA	3.0	1.0	1136	$1,375	$1.21	21d	1	0.71mi
132 S Beaver St Apt 4 York, PA	2.0	2.0	1000	$1,250	$1.25	44d	1	0.73mi
339 E Market St Unit 1 York, PA	4.0	1.5	1600	$1,650	$1.03	21d	1	0.90mi
466 W College Ave York, PA	3.0	1.0	1068	$1,295	$1.21	44d	1	0.92mi
813 Madison Ave York, PA	2.0	1.5	1100	$1,175	$1.07	13d	1	0.92mi
1301 N Duke St York, PA	2.0	1.5	1520	$1,475	$0.97	44d	1	0.92mi
446 Wallace St York, PA	3.0	1.0	1092	$1,295	$1.19	21d	1	0.93mi
208 Liberty Ct York, PA	3.0	1.0	1096	$1,195	$1.09	44d	1	1.06mi
648 W College Ave York, PA	3.0	1.0	1100	$1,275	$1.16	44d	1	1.08mi
631 Wallace St Unit 631 York, PA	4.0	1.0	1545	$1,325	$0.86	13d	1	1.09mi
443 S Duke St York, PA	3.0	1.0	1028	$1,225	$1.19	44d	1	1.11mi
444 S Duke St York, PA	3.0	1.0	1200	$1,200	$1.00	44d	1	1.11mi
514 S Duke St York, PA	3.0	1.0	1289	$1,625	$1.26	21d	1	1.16mi
720 Chestnut St Apt 2 York, PA	4.0	1.0	1400	$1,300	$0.93	13d	1	1.20mi
925 W College Ave York, PA	4.0	1.0	1660	$1,425	$0.86	13d	1	1.22mi
30 N Franklin St York, PA	3.0	1.0	1400	$1,395	$1.00	44d	1	1.23mi
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	44d	1	1.28mi
626 S Queen St York, PA	3.0	1.0	1526	$1,225	$0.80	21d	1	1.31mi
537 W Jackson St York, PA	3.0	2.0	1795	$1,795	$1.00	13d	1	1.34mi
433 Piedmont Cir York, PA	1.0–3.0	1.0–1.5	850	$1,655	$1.95	13d	2	1.34mi
433 Piedmont Cir York, PA	3.0	1.5	1000	$1,656	$1.66	44d	1	1.34mi
715 Vander Ave York, PA	3.0	1.0	1180	$1,295	$1.10	13d	1	1.42mi

Listing history 17 events

1. 2026-04-26
   status Pending
2. 2026-04-23
   price $179,900
3. 2026-04-23
   listed $170,000 Active
4. 2020-10-22
   soldstatus $55,000
5. 2020-10-14
   soldstatus $55,000 Closed 374-char remark

   Show marketing remark (374 chars)

   Why rent when you can buy? Solidly built 3-bedroom 1.5 bath brick duplex home. Very spacious, fenced-in backyard, Possible 4th bedroom, or office located on the upper level, rear bedroom with balcony access. Solid brick construction freshly painted throughout. Updated energy efficient replacement windows throughout the whole home. This home is move-in ready, see it today!

6. 2020-09-27
   status Pending 374-char remark

   Show marketing remark (374 chars)

   Why rent when you can buy? Solidly built 3-bedroom 1.5 bath brick duplex home. Very spacious, fenced-in backyard, Possible 4th bedroom, or office located on the upper level, rear bedroom with balcony access. Solid brick construction freshly painted throughout. Updated energy efficient replacement windows throughout the whole home. This home is move-in ready, see it today!

7. 2020-09-25
   listed $55,000 Active 374-char remark

   Show marketing remark (374 chars)

   Why rent when you can buy? Solidly built 3-bedroom 1.5 bath brick duplex home. Very spacious, fenced-in backyard, Possible 4th bedroom, or office located on the upper level, rear bedroom with balcony access. Solid brick construction freshly painted throughout. Updated energy efficient replacement windows throughout the whole home. This home is move-in ready, see it today!

8. 2014-07-23
   historical
9. 2014-05-06
   listed $37,900
10. 2014-03-11
    historical
11. 2013-06-30
    historical
12. 2013-03-11
    listed $39,900
13. 2012-11-30
    listed $39,900
14. 2007-01-02
    soldstatus $38,500
15. 2006-12-28
    soldstatus $38,500
16. 2006-12-22
    historical
17. 2006-12-07
    listed $39,999

ⓘ 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: $1,946 · $162/mo
• Projected year-2 tax: $2,394 · $200/mo
• Expected delta: +$448/yr (+$37/mo · 23.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°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: $35,220
• − Mortgage interest: −$10,077
• − Property taxes: −$1,946
• − Insurance: −$4,664
• − Repairs & maintenance: −$2,818
• − Management: −$2,818
• − Depreciation: −$5,233
• Taxable income: $7,664
• Est. tax owed @ 24.0%: −$1,839
• After-tax cash flow: $8,053/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

+349.8% since first listed

17 events — show timeline

• 2026-04-26 Pending — BRIGHT MLS
• 2026-04-23 Price Changed $179,900 BRIGHT MLS
• 2026-04-23 Listed $170,000 BRIGHT MLS
• 2020-10-22 Sold (Public Records) $55,000 Public Records
• 2020-10-14 Sold (MLS) $55,000 BRIGHT MLS
• 2020-09-27 Pending — BRIGHT MLS
• 2020-09-25 Listed $55,000 BRIGHT MLS
• 2014-07-23 Listing Removed — BRIGHT MLS
• 2014-05-06 Listed $37,900 BRIGHT MLS
• 2014-03-11 Listing Removed — BRIGHT MLS
• 2013-06-30 Listing Removed — BRIGHT MLS
• 2013-03-11 Listed $39,900 BRIGHT MLS
• 2012-11-30 Listed $39,900 BRIGHT MLS
• 2007-01-02 Sold (Public Records) $38,500 Public Records
• 2006-12-28 Sold (MLS) $38,500 BRIGHT MLS
• 2006-12-22 Listing Removed — BRIGHT MLS
• 2006-12-07 Listed $39,999 BRIGHT MLS

Property tax history

-2.0%/yr

Latest (2025): $1,946 · +0.9% YoY. Source: county tax records.