24 S 23rd St · Mount Penn, PA 19606

$179,900

4 bd · 1.0 ba · 1,416 sqft · Townhouse public records · 4 Days on market

Built 1930 1,742 sqft lot Est $234k · 23% under

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Why this score? — see what drove the C 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 +20.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 25 S 23rd Street, a beautifully kept corner townhouse offering solid bones, generous space, and timeless charm throughout. This spacious home features 4 bedrooms, 1 full bathroom, and beautiful hardwood floors that add warmth and character from the moment you step inside. The layout offers plenty of room to grow, work from home, entertain, or simply enjoy comfortable everyday living. The corner location provides added natural light and a more open feel, while the inviting front porch is perfect for relaxing and enjoying the neighborhood. Out back, you’ll find a fenced-in yard along with a rear porch, creating a great space for pets, entertaining, or enjoying outdoor privacy. There is also room to gather around a fire pit or enjoy cozy outdoor evenings. Conveniently located near schools, shopping, local amenities, and major routes, this home is a wonderful opportunity for buyers looking for space, charm, and value. Don’t miss your chance to make this well-kept corner property yours!

Key facts

• Built 1930
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).

Location & tenants

• Location reads 77/100 on livability (#356 in PA, #3,123 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Antietam SD (suburban): math 13% / reading 35% proficiency, ranked #468 of 539 in PA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mt Penn El Sch (math 11% / reading 35%, grade F, #1,216 of 1,518 statewide, top 80%, 329 students, 100% FRL); Antietam Ms/Hs (math 17% / reading 37%, grade F, #365 of 437 statewide, top 85%, 548 students, 58% FRL) — zoned schools average 79% FRL vs 37% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 166 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

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.
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; 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 1930 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.11% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $233,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2319 Cumberland Ave	0.17mi	3/1.0 (-1)	1,479 (+4%)	5mo	$143,000	$97	75
108 Kuechler Ct Lot 13	0.26mi	3/2.5 (-1)	1,446 (+2%)	6mo	$265,000	$183	68
104 Kuechler Ct Lot 11	0.27mi	3/2.5 (-1)	1,446 (+2%)	7mo	$277,990	$192	67
2424 Perkiomen Ave	0.15mi	3/1.0 (-1)	1,240 (-12%)	2mo	$204,500	$165	65
19 Pennwyn Ter	0.17mi	3/— (-1)	1,234 (-13%)	2mo	$202,000	$164	64
1960 Perkiomen Ave	0.34mi	3/1.0 (-1)	1,280 (-10%)	1mo	$190,000	$148	62
505 Friedensburg Rd	0.66mi	4/1.0	1,469 (+4%)	4mo	$225,000	$153	60
430 Carsonia Ave	0.59mi	3/1.5 (-1)	1,398 (-1%)	5mo	$263,000	$188	59
304 N 25th St	0.45mi	3/1.0 (-1)	1,299 (-8%)	3mo	$170,000	$131	58
3 Hawley Ct	0.22mi	3/2.5 (-1)	1,220 (-14%)	0mo	$266,000	$218	55
17 Hawley Ct	0.23mi	3/2.5 (-1)	1,220 (-14%)	2mo	$252,000	$207	54
519 Friedensburg Rd	0.70mi	3/1.0 (-1)	1,569 (+11%)	8mo	$239,900	$153	38

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: -7.7%
• Equity multiple: 0.71×
• Total profit: $-14,388
• Equity at exit: $26,824

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $6,741
• 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 19606

• Active inventory: 166
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,995 high
• Mortgage (P&I): −$943
• Tax from tax record: −$327 /mo · $3,930/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $230

Break-even live

Break-even rent $1,704

Max offer price $179,900

Occupancy floor 83%

Sensitivity live

Price	-10% $332	-5% $281	+0% $230	+5% $179	+10% $129
Rent	-10% $73	-5% $152	+0% $230	+5% $309	+10% $388
Rate	-1.0pp $321	-0.5pp $276	base $230	+0.5pp $184	+1.0pp $136

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Laurel Ave Reading, PA	4.0	2.0	1320	$2,200	$1.67	15d	1	0.26mi
1710 Perkiomen Ave Reading, PA	3.0	1.5	1214	$1,350	$1.11	45d	1	0.65mi
28 Hilbert Ct Reading, PA	3.0	1.5	1288	$1,695	$1.32	22d	1	0.85mi
603 Maple St Reading, PA	3.0	1.0	940	$1,395	$1.48	22d	1	1.34mi
437 Linden St Reading, PA	3.0	1.0	900	$1,800	$2.00	22d	1	1.45mi
1332 Green St Reading, PA	4.0	1.0	1350	$1,475	$1.09	22d	1	1.46mi

Listing history 5 events

1. 2026-06-02
   status $179,900 Pending 4 DOM
2. 2026-06-01
   days on market $179,900 Active 4 DOM
3. 2026-05-31
   days on market $179,900 Active 3 DOM
4. 2026-05-30
   days on market $179,900 Active 2 DOM
5. 2026-05-26
   historical $179,900 1019-char remark

   Show marketing remark (1019 chars)

   Welcome to 25 S 23rd Street, a beautifully kept corner townhouse offering solid bones, generous space, and timeless charm throughout. This spacious home features 4 bedrooms, 1 full bathroom, and beautiful hardwood floors that add warmth and character from the moment you step inside. The layout offers plenty of room to grow, work from home, entertain, or simply enjoy comfortable everyday living. The corner location provides added natural light and a more open feel, while the inviting front porch is perfect for relaxing and enjoying the neighborhood. Out back, you’ll find a fenced-in yard along with a rear porch, creating a great space for pets, entertaining, or enjoying outdoor privacy. There is also room to gather around a fire pit or enjoy cozy outdoor evenings. Conveniently located near schools, shopping, local amenities, and major routes, this home is a wonderful opportunity for buyers looking for space, charm, and value. Don’t miss your chance to make this well-kept corner property yours!

ⓘ 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: $3,930 · $327/mo
• Projected year-2 tax: $3,930 · $327/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,942
• − Mortgage interest: −$10,077
• − Property taxes: −$3,930
• − Insurance: −$900
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$5,233
• Taxable loss: −$28
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $2,771/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: Antietam SD
• NCES district ID: 4202480
• Math proficiency: 13% ▼ -16.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $51,003
• Composite: 21.24/100
• National rank: #8403
• State rank: #468 of 539 in PA

Livability — Mount Penn

• Score: 77/100
• State rank: #356
• US rank: #3123

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Penn, PA
• County: Berks County · 195,629 people
• Metro: Reading, PA
• Population (ZIP): 35,853
• Household income: $85,557
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 619.0

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 3%
• Common ancestry: Romanian 7% Polish 2% Iranian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.56%
• Current HPI: 283.6138
• Rent YoY: —
• Metro: Reading, 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

1 event — show timeline

• 2026-05-26 Coming Soon $179,900 BRIGHT MLS

Property tax history

+2.8%/yr

Latest (2026): $3,930 · +1.1% YoY. Source: county tax records.