524 N 16th St · Harrisburg, PA 17103

$225,000

4 bd · 2.0 ba · 2,070 sqft · MultiFamily public records · 79 Days on market

Built 1900 1,307 sqft lot $109/sqft · 45% above area

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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: 2 units. 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

Fully rented, income-producing multi-unit in Harrisburg City, close to Downtown Harrisburg. This end-unit features two units: a 3-bedroom, 1 bath and a 1-bedroom, 1 bath. Also includes a fenced-in yard and two brand new water heaters. Conveniently located near local amenities, major roadways, and everything the city has to offer. Schedule your showing today!

Key facts

• Fenced in yard
• Near local amenities
• 1,307 sq ft lot

Tags

• FENCED IN YARD
• CLOSE TO DOWNTOWN HARRISBURG
• NEAR LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: schools C-, 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.
• Market conditions: Rents rising fast (+9.1%/yr); 66 active listings in the ZIP; 24 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 $2,578/mo this rent would consume 78% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $63k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $110k; list at $225k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (median comp): $134,485
• List price: $225,000
• Delta: 67.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 Market St	0.44mi	4/—	2,048 (-1%)	0mo	$260,000	$127	77
1730 State St	0.16mi	4/—	2,320 (+12%)	10mo	$157,900	$68	65
129 N 13th St	0.23mi	4/—	2,322 (+12%)	12mo	$158,000	$68	59
1410 State St	0.09mi	4/—	2,354 (+14%)	19mo	$185,000	$79	57
1414 State St	0.09mi	5/— (+1)	2,354 (+14%)	15mo	$224,900	$96	56
33 N 19th St	0.40mi	3/2.0 (-1)	2,238 (+8%)	15mo	$160,000	$71	50
31 N 19th St	0.40mi	3/— (-1)	1,917 (-7%)	19mo	$125,100	$65	48
1421 Vernon St	0.57mi	5/2.0 (+1)	2,182 (+5%)	24mo	$129,000	$59	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: 6.0%
• Equity multiple: 1.25×
• Total profit: $15,464
• Equity at exit: $33,548

10-year hold

• IRR: 19.3%
• Equity multiple: 2.98×
• Total profit: $124,695
• Equity at exit: $19,454

Cash invested: $63,000 (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: 14.5×

Monthly cashflow live

• Estimated rent: $2,578 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $602

Break-even live

Break-even rent $1,816

Max offer price $225,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,578
Total (2 units)			$2,578

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1708 State St Harrisburg, PA	5.0	1.5	2320	$1,745	$0.75	21d	1	0.14mi
111 N 17th St Harrisburg, PA	5.0	1.0	1800	$1,850	$1.03	14d	1	0.15mi
66 N 17th St Harrisburg, PA	5.0	2.0	1845	$2,195	$1.19	44d	1	0.20mi
52 Balm St Harrisburg, PA	3.0	1.0	1950	$1,495	$0.77	21d	1	0.33mi
14 S 17th St Harrisburg, PA	5.0	2.0	2136	$1,695	$0.79	14d	1	0.37mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	44d	1	0.42mi
227 Hummel St Harrisburg, PA	5.0	2.0	2696	$1,600	$0.59	44d	1	0.61mi
337 S 15th St Harrisburg, PA	3.0	1.0	1440	$1,195	$0.83	21d	1	0.68mi
349 S 14th St Harrisburg, PA	3.0	1.0	1544	$1,450	$0.94	23d	1	0.70mi
331 Hummel St Unit B Harrisburg, PA	3.0	1.0	1590	$1,800	$1.13	44d	1	0.71mi
1610 Hunter St Harrisburg, PA	4.0	1.0	1776	$1,450	$0.82	23d	1	0.76mi
1414 Berryhill St Harrisburg, PA	5.0	2.0	1786	$1,700	$0.95	23d	1	0.80mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$3,000	$2.09	14d	10	0.92mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,600	$1.81	44d	1	0.92mi
1716 N 6th St Unit NA Harrisburg, PA	4.0	4.0	2400	$2,000	$0.83	23d	1	1.09mi
1716 N 6th St Harrisburg, PA	4.0	3.5	2400	$2,200	$0.92	44d	1	1.09mi
919 Penn St Harrisburg, PA	3.0	2.0	1458	$1,795	$1.23	23d	1	1.10mi
1330 Susquehanna St Harrisburg, PA	4.0	1.5	2280	$1,895	$0.83	23d	1	1.13mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	44d	1	1.15mi
649 S 23rd St Unit 1 Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	44d	1	1.33mi
649 S 23rd St Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	21d	1	1.33mi
1834 Green St Harrisburg, PA	4.0	1.0	1792	$1,495	$0.83	23d	1	1.42mi
652 Emerald St Harrisburg, PA	5.0	1.0	1550	$1,740	$1.12	44d	1	1.46mi
320 Maclay St Harrisburg, PA	3.0	2.5	2237	$1,750	$0.78	14d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $225,000 Active 79 DOM
2. 2026-06-17
   days on market $225,000 Active 78 DOM
3. 2026-06-16
   days on market $225,000 Active 77 DOM
4. 2026-06-15
   days on market $225,000 Active 76 DOM
5. 2026-06-14
   days on market $225,000 Active 74 DOM
6. 2026-06-13
   days on market $225,000 Active 73 DOM
7. 2026-06-10
   days on market $225,000 Active 71 DOM
8. 2026-06-09
   days on market $225,000 Active 70 DOM
9. 2026-06-08
   days on market $225,000 Active 69 DOM
10. 2026-06-07
    days on market $225,000 Active 68 DOM
11. 2026-06-03
    days on market $225,000 Active 64 DOM
12. 2026-06-02
    days on market $225,000 Active 63 DOM
13. 2026-06-01
    days on market $225,000 Active 62 DOM
14. 2026-05-31
    days on market $225,000 Active 61 DOM
15. 2026-05-31
    days on market $225,000 Active 60 DOM
16. 2026-03-31
    listed $225,000 Active 360-char remark

    Show marketing remark (360 chars)

    Fully rented, income-producing multi-unit in Harrisburg City, close to Downtown Harrisburg. This end-unit features two units: a 3-bedroom, 1 bath and a 1-bedroom, 1 bath. Also includes a fenced-in yard and two brand new water heaters. Conveniently located near local amenities, major roadways, and everything the city has to offer. Schedule your showing today!

17. 2025-08-29
    historical
18. 2025-08-18
    listed $139,900 Active
19. 2025-08-18
    soldstatus $110,000
20. 2016-07-13
    historical
21. 2016-05-31
    historical
22. 2015-07-14
    listed $7,900
23. 2015-07-11
    listed $6,900
24. 1998-12-31
    soldstatus $48,000
25. 1992-03-17
    soldstatus $21,800

ⓘ 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: $1,933 · $161/mo
• Projected year-2 tax: $2,744 · $229/mo
• Expected delta: +$811/yr (+$68/mo · 42.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $30,936
• − Mortgage interest: −$12,603
• − Property taxes: −$1,933
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,475
• − Management: −$2,475
• − Depreciation: −$6,545
• Taxable income: $3,780
• Est. tax owed @ 24.0%: −$907
• After-tax cash flow: $6,316/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

+932.1% since first listed

10 events — show timeline

• 2026-03-31 Listed $225,000 BRIGHT MLS
• 2025-08-29 Listing Removed — BRIGHT MLS
• 2025-08-18 Sold (Public Records) $110,000 Public Records
• 2025-08-18 Listed $139,900 BRIGHT MLS
• 2016-07-13 Listing Removed — BRIGHT MLS
• 2016-05-31 Listing Removed — BRIGHT MLS
• 2015-07-14 Listed $7,900 BRIGHT MLS
• 2015-07-11 Listed $6,900 BRIGHT MLS
• 1998-12-31 Sold (Public Records) $48,000 Public Records
• 1992-03-17 Sold (Public Records) $21,800 Public Records

Property tax history

+48.5%/yr

Latest (2026): $1,933 · +1.7% YoY. Source: county tax records.