140 S 2nd St · Steelton, PA 17113

$115,000

2 bd · 1.5 ba · 1,410 sqft · SingleFamily public records · 99 Days on market

Built 1880 871 sqft lot $82/sqft · 9% below area Est $105k · 9% over

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Why this score? — see what drove the D+ 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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +6.3/10.0
• Livability +3.4/5.0
• ARV discount +3.3/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This traditional twin/semi-detached property, built in 1880, offers a unique investment opportunity with a total of 1,171 sq. ft. of potential living space. The interior features a formal dining room, ideal for creating an inviting atmosphere. The full, unfinished basement provides ample storage or the possibility for future expansion, enhancing the property's value. The cleared lot spans 0.02 acres, allowing for easy maintenance and potential outdoor enhancements. On-street parking is available, adding convenience for tenants or guests. With no association fees or amenities to manage, this property presents a straightforward investment with low overhead costs. The location's potential for rental income is promising, given the demand for residential properties in the area. Investors can capitalize on the opportunity to renovate and increase the property's market value, making it a strategic addition to any portfolio.

Key facts

• Formal dining room
• Cleared lot
• On street parking

Tags

• FORMAL DINING ROOM
• FULL UNFINISHED BASEMENT
• CLEARED LOT
• ON STREET PARKING
• POTENTIAL RENTAL INCOME
• OPPORTUNITY TO RENOVATE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#971 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Steelton-Highspire SD (suburban): math 2% / reading 9% proficiency, ranked #538 of 539 in PA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Steelton-Highspire El Sch (math 2% / reading 12%, grade F, #1,491 of 1,518 statewide, top 98%, 738 students, 100% FRL); Steelton-Highspire Hs (math 2% / reading 6%, grade F, #434 of 437 statewide, top 99%, 599 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $6k; list at $115k implies a 1991% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.47%
• DSCR: 1.33
• GRM: 7.4

CMA / ARV

• ARV (median comp): $105,197
• List price: $115,000
• Delta: 9.32%
• 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
351 Catherine St	0.16mi	3/1.5 (+1)	1,378 (-2%)	7mo	$200,000	$145	78
626 Pine St	0.41mi	2/2.0	1,418 (+1%)	13mo	$205,000	$145	67
225 Frank S Brown Blvd	0.37mi	3/1.5 (+1)	1,375 (-2%)	10mo	$184,000	$134	65
555 Pine St	0.36mi	3/2.0 (+1)	1,496 (+6%)	3mo	$215,000	$144	63
314 S 2nd St	0.22mi	2/1.0	1,568 (+11%)	15mo	$160,000	$102	57
158 Conestoga St	0.47mi	3/1.0 (+1)	1,474 (+4%)	9mo	$169,740	$115	56
816 Mohn St	0.62mi	3/1.5 (+1)	1,408 (-0%)	13mo	$250,000	$178	55
36 N 4th St	0.20mi	3/2.0 (+1)	1,216 (-14%)	8mo	$144,000	$118	54
556 N 2nd St	0.64mi	3/1.5 (+1)	1,476 (+5%)	4mo	$155,000	$105	54
633 2nd St	0.70mi	3/1.0 (+1)	1,408 (-0%)	17mo	$135,000	$96	46
616 2nd St	0.71mi	3/2.0 (+1)	1,366 (-3%)	14mo	$150,000	$110	43
501 Bessemer St	0.57mi	3/1.5 (+1)	1,532 (+9%)	16mo	$180,000	$117	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-9,329
• Equity at exit: $17,147

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $4,063
• 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 17113

• Home prices YoY: -16.3%
• Active inventory: 68
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,300 high
• Mortgage (P&I): −$603
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$48
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $145

Break-even live

Break-even rent $1,116

Max offer price $115,000

Occupancy floor 84%

Sensitivity live

Price	-10% $210	-5% $178	+0% $145	+5% $112	+10% $80
Rent	-10% $42	-5% $94	+0% $145	+5% $196	+10% $248
Rate	-1.0pp $203	-0.5pp $174	base $145	+0.5pp $115	+1.0pp $85

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 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Chestnut St Steelton, PA	3.0	1.0	1146	$1,250	$1.09	15d	1	0.16mi
322 Pine St Unit 2 Steelton, PA	3.0	1.0	1100	$995	$0.90	45d	1	0.24mi
156 Frank S Brown Blvd Steelton, PA	1.0	1.0	950	$950	$1.00	45d	1	0.35mi
316 N 2nd St Steelton, PA	3.0	1.5	1524	$1,600	$1.05	15d	1	0.47mi
314 Lincoln St Steelton, PA	3.0	1.0	1264	$1,595	$1.26	15d	1	0.47mi
325 Lincoln St Steelton, PA	3.0	1.0	1186	$1,250	$1.05	15d	1	0.49mi
508 N 2nd St Steelton, PA	3.0	1.5	1360	$1,450	$1.07	15d	1	0.60mi
640 S 2nd St Steelton, PA	3.0	1.5	1290	$1,400	$1.09	25d	1	0.64mi
465 Sunday Dr Harrisburg, PA	3.0	2.5	1540	$1,895	$1.23	15d	1	0.79mi
589 Yale St Harrisburg, PA	2.0	2.0	911	$1,549	$1.70	15d	1	0.96mi
971 Monroe St Harrisburg, PA	2.0	1.5	1120	$1,600	$1.43	15d	1	1.02mi
110 Ross Ave New Cumberland, PA	2.0	1.5	1194	$1,650	$1.38	45d	1	1.26mi

Listing history 25 events

1. 2026-06-16
   statusdays on market $115,000 Pending 99 DOM
2. 2026-06-15
   days on market $115,000 Active 98 DOM
3. 2026-06-14
   days on market $115,000 Active 96 DOM
4. 2026-06-10
   days on market $115,000 Active 93 DOM
5. 2026-06-09
   days on market $115,000 Active 92 DOM
6. 2026-06-08
   days on market $115,000 Active 91 DOM
7. 2026-06-07
   days on market $115,000 Active 90 DOM
8. 2026-06-05
   days on market $115,000 Active 87 DOM
9. 2026-06-03
   days on market $115,000 Active 86 DOM
10. 2026-06-02
    days on market $115,000 Active 85 DOM
11. 2026-06-01
    days on market $115,000 Active 84 DOM
12. 2026-05-31
    days on market $115,000 Active 83 DOM
13. 2026-05-31
    days on market $115,000 Active 82 DOM
14. 2026-03-09
    listed $115,000 Active 930-char remark

    Show marketing remark (930 chars)

    This traditional twin/semi-detached property, built in 1880, offers a unique investment opportunity with a total of 1,171 sq. ft. of potential living space. The interior features a formal dining room, ideal for creating an inviting atmosphere. The full, unfinished basement provides ample storage or the possibility for future expansion, enhancing the property's value. The cleared lot spans 0.02 acres, allowing for easy maintenance and potential outdoor enhancements. On-street parking is available, adding convenience for tenants or guests. With no association fees or amenities to manage, this property presents a straightforward investment with low overhead costs. The location's potential for rental income is promising, given the demand for residential properties in the area. Investors can capitalize on the opportunity to renovate and increase the property's market value, making it a strategic addition to any portfolio.

15. 2018-09-28
    historical
16. 2018-02-16
    soldstatus $5,500
17. 2018-01-23
    historical
18. 2017-10-19
    listed $6,900
19. 2017-08-07
    listed $11,900
20. 2013-02-22
    soldstatus $6,500
21. 2013-01-16
    historical
22. 2012-06-25
    listed $11,300
23. 2006-04-21
    soldstatus $35,940
24. 1990-08-01
    soldstatus $35,000
25. 1986-08-06
    soldstatus $20,000

ⓘ 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: $2,102 · $175/mo
• Projected year-2 tax: $2,102 · $175/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $15,596
• − Mortgage interest: −$6,442
• − Property taxes: −$2,102
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,345
• Taxable loss: −$31
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $1,747/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: Steelton-Highspire SD
• NCES district ID: 4222800
• Math proficiency: 2% ▼ -4.00%
• Reading proficiency: 9% ▼ -12.00%
• Median HH income: $40,685
• Composite: 4.98/100
• National rank: #10040
• State rank: #538 of 539 in PA

Livability — Steelton

• Score: 67/100
• State rank: #971
• US rank: #10606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steelton, PA
• County: Dauphin County · 247,857 people
• City population: 19,401
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 11,724
• Household income: $68,244
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 338.0

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 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 24% Black 22% Two or more races 19% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 11% Cuban 2%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 7% · Canada, India
• Languages at home: 80% English-only · Spanish 17% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -54.73%
• Current HPI: 281.6906
• Rent YoY: —
• 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

+475.0% since first listed

12 events — show timeline

• 2026-03-09 Listed $115,000 BRIGHT MLS
• 2018-09-28 Listing Removed — BRIGHT MLS
• 2018-02-16 Sold (MLS) $5,500 BRIGHT MLS
• 2018-01-23 Listing Removed — BRIGHT MLS
• 2017-10-19 Listed $6,900 BRIGHT MLS
• 2017-08-07 Listed $11,900 BRIGHT MLS
• 2013-02-22 Sold (MLS) $6,500 BRIGHT MLS
• 2013-01-16 Listing Removed — BRIGHT MLS
• 2012-06-25 Listed $11,300 BRIGHT MLS
• 2006-04-21 Sold (Public Records) $35,940 Public Records
• 1990-08-01 Sold (Public Records) $35,000 Public Records
• 1986-08-06 Sold (Public Records) $20,000 Public Records

Property tax history

+1.2%/yr

Latest (2026): $2,102 · +7.2% YoY. Source: county tax records.