51 Balm St · Harrisburg, PA 17103

$90,000

3 bd · 1.0 ba · 1,192 sqft · Townhouse public records · 20 Days on market

Built 1900 871 sqft lot $76/sqft · 14% above area Est $79k · 14% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.8/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just grab your personal belongings and move right in. This property has been renovated. This 3 bedroom home has new carpet, paint, roof, siding and more. Close to shopping, highways and more.

Key facts

• Built 1900
• Listed 20 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: 100 Amp electric service; Public water; Public sewer
• Home design: Semi-detached home; Stick-built with vinyl siding
• Construction: Brick/mortar foundation; Fiberglass and asphalt roof
• Exterior features: Level lot; Porch(es)

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms on the upper level (3)
• Bathrooms: One full bathroom (total)
• Heating & cooling: Forced air heating (natural gas); Natural gas hot water
• Interior features: Dining area; Full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 6.7% 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: 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.
• Zoned schools: Harrisburg Hs (math 24% / reading 10%, grade F, #399 of 437 statewide, top 92%, 1,230 students, 100% FRL) — zoned schools average 100% FRL vs 82% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.1%/yr); 66 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $1,498/mo this rent would consume 45% 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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.

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 $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 1.66% ✓
• Cap rate: 13.33%
• Cash-on-cash: 25.15%
• DSCR: 2.12
• GRM: 5.0

CMA / ARV

• ARV (median comp): $78,782
• List price: $90,000
• Delta: 14.24%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1153 Derry St	0.26mi	3/1.5	1,188 (-0%)	3mo	$116,500	$98	83
1251 Bailey St	0.08mi	3/1.0	1,054 (-12%)	3mo	$73,500	$70	74
116 Hoerner St	0.23mi	4/1.0 (+1)	1,283 (+8%)	1mo	$82,500	$64	71
1623 Hunter St	0.66mi	3/1.0	1,180 (-1%)	1mo	$85,000	$72	67
1712 Carnation St	0.40mi	3/1.0	1,296 (+9%)	3mo	$65,000	$50	64
1814 Forster St	0.62mi	3/1.0	1,259 (+6%)	2mo	$160,000	$127	60
1619 Naudain St	0.74mi	3/1.0	1,148 (-4%)	3mo	$136,000	$118	56
1624 Naudain St	0.73mi	3/1.5	1,140 (-4%)	1mo	$135,000	$118	56
924 Grand St	0.72mi	3/1.0	1,138 (-4%)	3mo	$171,000	$150	56
1816 Boas St	0.68mi	3/1.0	1,272 (+7%)	3mo	$115,000	$90	55
926 Grand St	0.72mi	3/1.0	1,073 (-10%)	2mo	$149,000	$139	48
1833 Rudy Rd	0.70mi	4/1.5 (+1)	1,030 (-14%)	3mo	$173,000	$168	35

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: 24.4%
• Equity multiple: 2.07×
• Total profit: $27,009
• Equity at exit: $13,419

10-year hold

• IRR: 35.3%
• Equity multiple: 5.09×
• Total profit: $103,030
• Equity at exit: $7,782

Cash invested: $25,200 (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 17103

• Rents YoY: 9.1%
• Active inventory: 66
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$472
• Tax from tax record: −$146 /mo · $1,748/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $528

Break-even live

Break-even rent $829

Max offer price $90,000

Occupancy floor 60%

Sensitivity live

Price	-10% $579	-5% $554	+0% $528	+5% $503	+10% $477
Rent	-10% $410	-5% $469	+0% $528	+5% $587	+10% $646
Rate	-1.0pp $573	-0.5pp $551	base $528	+0.5pp $505	+1.0pp $481

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Summit St Harrisburg, PA	3.0	1.0	1200	$1,550	$1.29	14d	1	0.06mi
1251 Bailey St Harrisburg, PA	3.0	1.0	1200	$1,500	$1.25	44d	1	0.08mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	44d	1	0.12mi
1517 Walnut St Harrisburg, PA	3.0	1.0	1172	$1,150	$0.98	44d	1	0.23mi
1139 Mulberry St Harrisburg, PA	1.0–3.0	1.0	900	$1,185	$1.32	44d	1	0.34mi
52 N 18th St Harrisburg, PA	3.0	1.0	1100	$1,250	$1.14	14d	1	0.44mi
916 May St Harrisburg, PA	2.0	1.5	810	$1,250	$1.54	14d	1	0.50mi
337 S 15th St Harrisburg, PA	3.0	1.0	1440	$1,195	$0.83	22d	1	0.53mi
319 Market St Harrisburg, PA	2.0	1.5	990	$1,135	$1.15	44d	1	0.58mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,097	$1.46	44d	1	0.60mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$2,525	$1.76	14d	10	0.60mi
200 S Court St Harrisburg, PA	1.0–3.0	1.0–2.5	950	$1,800	$1.89	14d	14	0.66mi
660 Boas St Harrisburg, PA	2.0	1.0–2.0	800	$1,574	$1.97	14d	21	0.67mi
101 S 2nd St Harrisburg, PA	2.0	1.0	736	$1,749	$2.37	14d	32	0.68mi
1429 Naudain St Harrisburg, PA	3.0	1.0	1254	$1,400	$1.12	24d	1	0.69mi
919 Grand St Harrisburg, PA	2.0	1.5	1116	$1,695	$1.52	24d	1	0.70mi
210 Walnut St Unit 206 Harrisburg, PA	2.0	1.0	1007	$1,695	$1.68	14d	1	0.71mi
918 Grand St Harrisburg, PA	3.0	1.5	890	$1,450	$1.63	44d	1	0.72mi
1615 Naudain St Harrisburg, PA	3.0	1.0	1148	$1,400	$1.22	44d	1	0.74mi
923 N 3rd St Unit 1 Harrisburg, PA	2.0	1.0	853	$1,495	$1.75	24d	1	0.78mi
116 Pine St Harrisburg, PA	1.0–2.0	1.0–2.0	900	$1,638	$1.82	14d	14	0.83mi
1116 N 3rd St Unit 3 Harrisburg, PA	2.0	1.0	1100	$1,375	$1.25	24d	1	0.87mi
122 State St Apt 2 Harrisburg, PA	2.0	1.0	1250	$1,725	$1.38	14d	1	0.87mi
711 N 2nd St Apt 2 Harrisburg, PA	2.0	1.0	1400	$1,595	$1.14	44d	1	0.87mi
2016 Swatara St Harrisburg, PA	3.0	1.0	1380	$1,175	$0.85	44d	1	0.88mi
273 Cumberland St Harrisburg, PA	2.0	1.0	865	$1,595	$1.84	14d	1	0.88mi
612 N 2nd St Apt 3 Harrisburg, PA	2.0	1.0	1100	$1,545	$1.40	44d	1	0.88mi
612 N 2nd St Apt 2 Harrisburg, PA	2.0	1.0	1050	$1,445	$1.38	44d	1	0.88mi
719 N 2nd St Apt 6 Harrisburg, PA	2.0	1.0	1000	$1,150	$1.15	14d	1	0.89mi
919 Penn St Harrisburg, PA	3.0	2.0	1458	$1,795	$1.23	24d	1	0.89mi
618 N 2nd St Harrisburg, PA	2.0	1.0	1000	$1,050	$1.05	24d	1	0.89mi
1211 Green St Apt 2 Harrisburg, PA	2.0	1.0	850	$1,095	$1.29	24d	1	0.94mi
1122 Green St #14 Harrisburg, PA	2.0	1.0	918	$1,895	$2.06	44d	1	0.94mi
920 N 2nd St Unit 1 Harrisburg, PA	2.0	1.0	900	$1,475	$1.64	14d	1	0.94mi
1008 N 2nd St Unit 2 Harrisburg, PA	2.0	1.0	1410	$1,295	$0.92	44d	1	0.98mi
2121 Kensington St Harrisburg, PA	3.0	1.0	1088	$1,450	$1.33	44d	1	1.02mi
1320 Penn St Harrisburg, PA	2.0	1.0	1193	$1,495	$1.25	44d	1	1.04mi
352 Harris St Harrisburg, PA	2.0	1.0	810	$1,350	$1.67	22d	1	1.05mi
644 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,295	$1.00	44d	1	1.09mi
640 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,650	$1.28	44d	1	1.09mi

Listing history 16 events

1. 2026-06-18
   days on market $90,000 Active 20 DOM
2. 2026-06-17
   days on market $90,000 Active 19 DOM
3. 2026-06-16
   days on market $90,000 Active 18 DOM
4. 2026-06-15
   days on market $90,000 Active 17 DOM
5. 2026-06-14
   days on market $90,000 Active 15 DOM
6. 2026-06-13
   statusdays on market $90,000 Active 14 DOM
7. 2026-05-09
   listed $90,000 Active 349-char remark
8. 2026-05-07
   historical $90,000 349-char remark
9. 2019-10-18
   soldstatus $328,000
10. 2014-03-28
    soldstatus $26,000 192-char remark

    Show marketing remark (192 chars)

    Just grab your personal belongings and move right in. This property has been renovated. This 3 bedroom home has new carpet, paint, roof, siding and more. Close to shopping, highways and more.

11. 2013-12-17
    listed $39,000 192-char remark

    Show marketing remark (192 chars)

    Just grab your personal belongings and move right in. This property has been renovated. This 3 bedroom home has new carpet, paint, roof, siding and more. Close to shopping, highways and more.

12. 2013-10-10
    historical
13. 2013-04-12
    listed $44,900
14. 2009-06-09
    soldstatus $22,500
15. 2009-05-14
    historical
16. 2009-04-28
    listed $24,900

ⓘ 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: $1,748 · $146/mo
• Projected year-2 tax: $1,748 · $146/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $17,973
• − Mortgage interest: −$5,041
• − Property taxes: −$1,748
• − Insurance: −$450
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$2,618
• Taxable income: $5,240
• Est. tax owed @ 24.0%: −$1,258
• After-tax cash flow: $5,080/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

+261.4% since first listed

12 events — show timeline

• 2026-06-10 Relisted — BRIGHT MLS
• 2026-05-20 Contingent — BRIGHT MLS
• 2026-05-09 Listed $90,000 BRIGHT MLS
• 2026-05-07 Coming Soon $90,000 BRIGHT MLS
• 2019-10-18 Sold (Public Records) $328,000 Public Records
• 2014-03-28 Sold (MLS) $26,000 BRIGHT MLS
• 2013-12-17 Listed $39,000 BRIGHT MLS
• 2013-10-10 Listing Removed — BRIGHT MLS
• 2013-04-12 Listed $44,900 BRIGHT MLS
• 2009-06-09 Sold (MLS) $22,500 BRIGHT MLS
• 2009-05-14 Listing Removed — BRIGHT MLS
• 2009-04-28 Listed $24,900 BRIGHT MLS

Property tax history

+0.9%/yr

Latest (2026): $1,748 · +1.5% YoY. Source: county tax records.