301-303 E First Ave · South Williamsport, PA 17702

$109,900

5 bd · 2.0 ba · 2,296 sqft · MultiFamily public records · 219 Days on market

Built 1872 5,663 sqft lot Est $191k · 42% under ↓ 35% since listing

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.3/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Come check out this great investment property in South Williamsport. This 3 unit with two long time tenants creates a terrific cash flow. All three units have been totally renovated. Really a one time opportunity. Call for your private showing today.

Key facts

• Totally renovated
• Investment property
• Three units

Tags

• INVESTMENT PROPERTY
• THREE UNITS
• TOTALLY RENOVATED

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $753/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.6% vs local median 4.8% in South Williamsport — 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 86/100 on livability (#58 in PA, #400 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F.
• South Williamsport Area SD (suburban): math 29% / reading 52% proficiency, ranked #350 of 539 in PA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 73 units permitted in Lycoming County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lycoming County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1872 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1872 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 3.48% ✓
• Cap rate: 31.56%
• Cash-on-cash: 90.24%
• DSCR: 5.02
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $190,568
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
811 W Southern Ave	0.67mi	4/2.0 (-1)	1,992 (-13%)	13mo	$165,000	$83	31

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: 88.7%
• Equity multiple: 5.10×
• Total profit: $126,107
• Equity at exit: $16,386

10-year hold

• IRR: 91.7%
• Equity multiple: 10.60×
• Total profit: $295,297
• Equity at exit: $9,502

Cash invested: $30,772 (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 17702

• Active inventory: 35
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,829 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$89 /mo · $1,063/yr
• Insurance: −$46
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$804
• Net cashflow: $2,259

Break-even live

Break-even rent $970

Max offer price $109,900

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$3,828
Total (3 units)			$3,829

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-02
   status Pending
2. 2026-03-22
   price $109,900
3. 2026-02-20
   status Active
4. 2026-02-19
   historical
5. 2026-02-14
   price $125,000
6. 2025-12-02
   price $150,000
7. 2025-10-25
   price $159,900
8. 2025-09-26
   price $164,900
9. 2025-08-26
   listed $169,900 Active

ⓘ 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: $1,063 · $89/mo
• Projected year-2 tax: $1,400 · $117/mo
• Expected delta: +$336/yr (+$28/mo · 31.6%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,948
• − Mortgage interest: −$6,156
• − Property taxes: −$1,063
• − Insurance: −$1,216
• − Repairs & maintenance: −$3,676
• − Management: −$3,676
• − Depreciation: −$3,197
• Taxable income: $26,964
• Est. tax owed @ 24.0%: −$6,471
• After-tax cash flow: $20,632/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: South Williamsport Area SD
• NCES district ID: 4222140
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 52% ▼ -12.00%
• Median HH income: $46,740
• Composite: 34.5/100
• National rank: #5181
• State rank: #350 of 539 in PA

Livability — South Williamsport

• Score: 86/100
• State rank: #58
• US rank: #400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Williamsport, PA
• Population (ZIP): 10,506

Population outlook (Lycoming County) Hauer SSP2

• Today (2025): 114,164 people
• By 2030: 112,221 · -1.7%
• By 2040: 107,613 · -5.7%
• By 2050: 102,950 · -9.8%
• By 2075: 92,987 · -18.5%
• By 2100: 80,924 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 1% Hispanic / Latino 1% Black 1%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Lycoming

• 2024 margin: Solid R (+41.5) · D 28.8% · R 70.3%
• 2008→2024 swing: -17.3pp toward R · 2008: -24.2pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+41.3 2016: R+44.8 2012: R+33.3 2008: R+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.59%
• Current HPI: 216.0615
• Rent YoY: —
• Metro: —
• 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

-35.3% since first listed

9 events — show timeline

• 2026-04-02 Pending — WBVAR
• 2026-03-22 Price Changed $109,900 WBVAR
• 2026-02-20 Relisted — WBVAR
• 2026-02-19 Delisted — WBVAR
• 2026-02-14 Price Changed $125,000 WBVAR
• 2025-12-02 Price Changed $150,000 WBVAR
• 2025-10-25 Price Changed $159,900 WBVAR
• 2025-09-26 Price Changed $164,900 WBVAR
• 2025-08-26 Listed $169,900 WBVAR

Property tax history

+2.5%/yr

Latest (2026): $1,063 · +2.4% YoY. Source: county tax records.