502 2nd St · Swatara, PA 17113

$499,900

4 bd · 2.0 ba · 3,557 sqft · MultiFamily public records · 27 Days on market

Built 1880 0.25 ac lot

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Why this score? — see what drove the F 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 +10.5/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• DSCR +3.0/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +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 (5+ Unit). Listing-text estimate: 3 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

This FOUR unit is FULLY OCCUPIED and ready to add to your rental portfolio! Three of the units have been nicely renovated. The basement to the property on 2nd Street could be rented out for additional income. The Tenants in the two units on 2nd Street cut all the grass and all four tenant shovel their own snow.

Key facts

• 0.25 acre lot
• 8 parking spots
• Built 1880

Property features AI

Finance

• Financial info: Property contains 4 total units, 4 currently leased

Exterior

• Parking: Total of 8 garage and parking spaces; Asphalt driveway; Driveway with 4 spaces; 4 off-street spaces; On-street parking available
• Utilities: Public water; Public sewer; 200+ amp electric service with circuit breakers
• Home design: Detached property; 2 stories; Fee simple ownership; Estimated year built with major remodel in 2019; Double pane windows
• Construction: Frame and masonry construction; Block and stone foundation
• Exterior features: Detached structure; Above grade and below grade other structures; Black top road surface

Interior

• Kitchen: Microwave; Electric oven/range; Refrigerator
• Bedrooms: Three 2-bedroom units; One 3-bedroom unit
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: Tub/shower bathroom(s)
• Heating & cooling: Baseboard hot water heating; Heat pump(s); Window air conditioning units; Electric and natural gas fuel; Electric hot water
• Interior features: Attic; Tub with shower; Pantry; Upgraded countertops; Drywall, paneled and plaster walls; Has fireplace (1)
• Laundry & utility: Full unfinished basement with outside entrance and workshop

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative. Per door: $-86/mo.
• To cash-flow at today's rent, offer at most $454k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $382k (23.5% below list).
• Recommended offer: $382k (23.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Central Dauphin SD (suburban): math 30% / reading 52% proficiency, ranked #305 of 539 in PA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Dauphin East Shs (math 50% / reading 15%, grade F, #330 of 437 statewide, top 76%, 1,590 students, 100% FRL) — zoned schools average 100% FRL vs 33% district-wide (67 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $3,824/mo this rent would consume 67% of the median local household income ($68k/yr) (locally 338% 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $390k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $382,400 (23.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $224,091
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
638 S 2nd St	0.35mi	5/— (+1)	3,920 (+10%)	16mo	$245,000	$63	48

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: -20.0%
• Equity multiple: 0.30×
• Total profit: $-97,490
• Equity at exit: $74,537

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-106,258
• Equity at exit: $43,222

Cash invested: $139,972 (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: 32.7×

Monthly cashflow live

• Estimated rent: $3,824 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$449 /mo · $5,390/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$803
• Net cashflow: $-258

Break-even live

Break-even rent $4,151

Max offer price $454,318

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$3,825
Total (3 units)			$3,824

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $499,900 Active 27 DOM
2. 2026-06-17
   days on market $499,900 Active 26 DOM
3. 2026-06-16
   days on market $499,900 Active 25 DOM
4. 2026-06-15
   days on market $499,900 Active 24 DOM
5. 2026-06-14
   days on market $499,900 Active 22 DOM
6. 2026-06-13
   days on market $499,900 Active 21 DOM
7. 2026-06-10
   days on market $499,900 Active 19 DOM
8. 2026-06-09
   days on market $499,900 Active 18 DOM
9. 2026-06-08
   days on market $499,900 Active 17 DOM
10. 2026-06-07
    days on market $499,900 Active 16 DOM
11. 2026-06-05
    days on market $499,900 Active 13 DOM
12. 2026-06-03
    days on market $499,900 Active 12 DOM
13. 2026-06-02
    days on market $499,900 Active 11 DOM
14. 2026-06-01
    days on market $499,900 Active 10 DOM
15. 2026-05-31
    days on market $499,900 Active 9 DOM
16. 2026-05-31
    days on market $499,900 Active 8 DOM
17. 2026-05-22
    listed $499,900 Active
18. 2022-08-24
    soldstatus $390,000
19. 2022-08-23
    soldstatus $390,000 Closed 313-char remark

    Show marketing remark (313 chars)

    This FOUR unit is FULLY OCCUPIED and ready to add to your rental portfolio! Three of the units have been nicely renovated. The basement to the property on 2nd Street could be rented out for additional income. The Tenants in the two units on 2nd Street cut all the grass and all four tenant shovel their own snow.

20. 2022-07-07
    status Pending 313-char remark

    Show marketing remark (313 chars)

    This FOUR unit is FULLY OCCUPIED and ready to add to your rental portfolio! Three of the units have been nicely renovated. The basement to the property on 2nd Street could be rented out for additional income. The Tenants in the two units on 2nd Street cut all the grass and all four tenant shovel their own snow.

21. 2022-05-13
    price $425,000 313-char remark

    Show marketing remark (313 chars)

    This FOUR unit is FULLY OCCUPIED and ready to add to your rental portfolio! Three of the units have been nicely renovated. The basement to the property on 2nd Street could be rented out for additional income. The Tenants in the two units on 2nd Street cut all the grass and all four tenant shovel their own snow.

22. 2022-05-13
    listed $400,000 Active 313-char remark

    Show marketing remark (313 chars)

    This FOUR unit is FULLY OCCUPIED and ready to add to your rental portfolio! Three of the units have been nicely renovated. The basement to the property on 2nd Street could be rented out for additional income. The Tenants in the two units on 2nd Street cut all the grass and all four tenant shovel their own snow.

23. 2019-01-17
    soldstatus $210,000 Closed 292-char remark

    Show marketing remark (292 chars)

    3 UNITS. LARGE MAIN HOUSE AND SEPARATE 1500 SF GARAGE WITH TWO APARTMENTS ABOVE. GREAT INCOME POTENTIAL. LIVE IN MAIN HOUSE AND RENT OUT BACK UNITS. NEW ROOF AND NEW FURNACE ON MAIN HOUSE AND REPLACEMENT WINDOWS. VERY ECONOMICAL GAS HEAT WITH FOUR ZONES. LOTS OF OFF-STREET PARKING AVAILABLE.

24. 2018-12-10
    status Pending 292-char remark

    Show marketing remark (292 chars)

    3 UNITS. LARGE MAIN HOUSE AND SEPARATE 1500 SF GARAGE WITH TWO APARTMENTS ABOVE. GREAT INCOME POTENTIAL. LIVE IN MAIN HOUSE AND RENT OUT BACK UNITS. NEW ROOF AND NEW FURNACE ON MAIN HOUSE AND REPLACEMENT WINDOWS. VERY ECONOMICAL GAS HEAT WITH FOUR ZONES. LOTS OF OFF-STREET PARKING AVAILABLE.

25. 2018-11-30
    listed $210,000 Active 292-char remark

    Show marketing remark (292 chars)

    3 UNITS. LARGE MAIN HOUSE AND SEPARATE 1500 SF GARAGE WITH TWO APARTMENTS ABOVE. GREAT INCOME POTENTIAL. LIVE IN MAIN HOUSE AND RENT OUT BACK UNITS. NEW ROOF AND NEW FURNACE ON MAIN HOUSE AND REPLACEMENT WINDOWS. VERY ECONOMICAL GAS HEAT WITH FOUR ZONES. LOTS OF OFF-STREET PARKING AVAILABLE.

26. 2005-05-11
    soldstatus $184,900
27. 2005-04-29
    soldstatus $184,900
28. 2005-03-12
    listed $184,900
29. 2001-02-06
    soldstatus $167,000
30. 1994-03-14
    soldstatus $138,900

ⓘ 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: $5,390 · $449/mo
• Projected year-2 tax: $6,644 · $554/mo
• Expected delta: +$1,254/yr (+$105/mo · 23.3%)

ⓘ 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 ≥101°F today · 15 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: $45,888
• − Mortgage interest: −$28,002
• − Property taxes: −$5,390
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,671
• − Management: −$3,671
• − Depreciation: −$14,543
• Taxable loss: −$11,888
• Est. tax savings @ 24.0%: +$2,853
• After-tax cash flow: $-243/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: Central Dauphin SD
• NCES district ID: 4205400
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $62,792
• Composite: 36.46/100
• National rank: #4664
• State rank: #305 of 539 in PA

Livability — Swatara

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Enhaut, PA
• County: Dauphin County · 247,857 people
• 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

+259.9% since first listed

14 events — show timeline

• 2026-05-22 Listed $499,900 BRIGHT MLS
• 2022-08-24 Sold (Public Records) $390,000 Public Records
• 2022-08-23 Sold (MLS) $390,000 BRIGHT MLS
• 2022-07-07 Pending — BRIGHT MLS
• 2022-05-13 Price Changed $425,000 BRIGHT MLS
• 2022-05-13 Listed $400,000 BRIGHT MLS
• 2019-01-17 Sold (MLS) $210,000 BRIGHT MLS
• 2018-12-10 Pending — BRIGHT MLS
• 2018-11-30 Listed $210,000 BRIGHT MLS
• 2005-05-11 Sold (Public Records) $184,900 Public Records
• 2005-04-29 Sold (MLS) $184,900 BRIGHT MLS
• 2005-03-12 Listed $184,900 BRIGHT MLS
• 2001-02-06 Sold (Public Records) $167,000 Public Records
• 1994-03-14 Sold (Public Records) $138,900 Public Records

Property tax history

+2.6%/yr

Latest (2026): $5,390 · +5.5% YoY. Source: county tax records.