351 S 2nd St · Steelton, PA 17113

$137,000

3 bd · 1.0 ba · 1,258 sqft · Townhouse public records · 24 Days on market

Built 1900 1,742 sqft lot Est $135k · at est.

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Why this score? — see what drove the D+ 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 +19.8/30.0
• ARV discount +6.7/15.0
• DSCR +6.3/10.0
• 1% rule +5.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Great investment property! SOLD AS IS Outside of the house has been repainted. Some upgrades have been made, updated kitchen and floors Large Corner lot with fenced in yard. Lots of opportunities. Great investment property.

Key facts

• Built 1900
• Listed 24 days

Property features AI

Finance

• Other: Full poured concrete basement with interior access; Above-grade finished area approximately 1,356 (source: assessor); Property assessed values available (land and improvement)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached; Fee simple ownership
• Construction: Frame construction; Block foundation; Asbestos shingle roof
• Exterior features: Not in a federal flood zone

Interior

• Kitchen: Stove
• Bedrooms: Three bedrooms on the first upper level; One bedroom on the second upper level
• Flooring: Luxury vinyl plank flooring
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Forced air heating; Natural gas heating fuel
• Interior features: Eat-in kitchen; Traditional floor plan; Drywall walls and ceilings

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $137k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $137k).
• Recommended offer: $135k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#971 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Steelton-Highspire SD (suburban): math 2% / reading 9% proficiency, ranked #538 of 539 in PA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Steelton-Highspire Hs (math 2% / reading 6%, grade F, #434 of 437 statewide, top 99%, 599 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $947 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,945 (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. Schools are F-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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $134,606
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
544 Spruce St	0.34mi	3/1.0	1,260 (+0%)	1mo	$120,000	$95	84
337 S 3rd St	0.04mi	4/1.0 (+1)	1,353 (+8%)	3mo	$165,000	$122	78
644 S 2nd St	0.38mi	3/1.0	1,290 (+2%)	1mo	$152,000	$118	77
535 Saint Marys Dr	0.29mi	3/—	1,320 (+5%)	2mo	$130,000	$98	77
533 Saint Marys Dr	0.28mi	3/1.0	1,369 (+9%)	1mo	$140,000	$102	71
713 S Front St	0.45mi	3/1.0	1,296 (+3%)	7mo	$113,500	$88	69
335 Poplar St	0.44mi	3/1.0	1,347 (+7%)	1mo	$110,500	$82	67
554 S 2nd St	0.27mi	3/1.0	1,086 (-14%)	7mo	$125,000	$115	59
334 Swatara St	0.27mi	3/1.0	1,076 (-14%)	6mo	$115,000	$107	58
337 Swatara St	0.30mi	4/1.0 (+1)	1,425 (+13%)	3mo	$171,000	$120	57
23 S 2nd St	0.39mi	3/1.0	1,418 (+13%)	7mo	$99,000	$70	55
617 Monroe St	0.62mi	4/1.5 (+1)	1,099 (-13%)	0mo	$185,000	$168	43

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: -8.3%
• Equity multiple: 0.69×
• Total profit: $-11,771
• Equity at exit: $20,427

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $3,225
• Equity at exit: $11,845

Cash invested: $38,360 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,396 high
• Mortgage (P&I): −$718
• Tax from tax record: −$164 /mo · $1,967/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $163

Break-even live

Break-even rent $1,189

Max offer price $137,000

Occupancy floor 83%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Chestnut St Steelton, PA	3.0	1.0	1146	$1,250	$1.09	14d	1	0.14mi
640 S 2nd St Steelton, PA	3.0	1.5	1290	$1,400	$1.09	23d	1	0.35mi
322 Pine St Unit 2 Steelton, PA	3.0	1.0	1100	$995	$0.90	43d	1	0.53mi
316 N 2nd St Steelton, PA	3.0	1.5	1524	$1,600	$1.05	14d	1	0.75mi
314 Lincoln St Steelton, PA	3.0	1.0	1264	$1,595	$1.26	14d	1	0.76mi
325 Lincoln St Steelton, PA	3.0	1.0	1186	$1,250	$1.05	14d	1	0.78mi
971 Monroe St Harrisburg, PA	2.0	1.5	1120	$1,600	$1.43	14d	1	0.86mi
508 N 2nd St Steelton, PA	3.0	1.5	1360	$1,450	$1.07	14d	1	0.89mi
465 Sunday Dr Harrisburg, PA	3.0	2.5	1540	$1,895	$1.23	14d	1	0.92mi
589 Yale St Harrisburg, PA	2.0	2.0	911	$1,549	$1.70	14d	1	1.15mi
110 Ross Ave New Cumberland, PA	2.0	1.5	1194	$1,650	$1.38	43d	1	1.36mi

Listing history 17 events

1. 2026-06-18
   days on market $137,000 Active 24 DOM
2. 2026-06-17
   days on market $137,000 Active 23 DOM
3. 2026-06-16
   days on market $137,000 Active 22 DOM
4. 2026-06-15
   days on market $137,000 Active 21 DOM
5. 2026-06-14
   days on market $137,000 Active 19 DOM
6. 2026-06-10
   days on market $137,000 Active 16 DOM
7. 2026-06-09
   days on market $137,000 Active 15 DOM
8. 2026-06-09
   remarks 226-char remark
9. 2026-06-08
   days on market $137,000 Active 14 DOM
10. 2026-06-07
    days on market $137,000 Active 13 DOM
11. 2026-06-05
    days on market $137,000 Active 10 DOM
12. 2026-06-03
    days on market $137,000 Active 9 DOM
13. 2026-06-02
    days on market $137,000 Active 8 DOM
14. 2026-06-01
    days on market $137,000 Active 7 DOM
15. 2026-05-31
    days on market $137,000 Active 6 DOM
16. 2026-05-31
    days on market $137,000 Active 5 DOM
17. 2026-05-18
    historical $137,000

ⓘ 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: $1,967 · $164/mo
• Projected year-2 tax: $2,066 · $172/mo
• Expected delta: +$99/yr (+$8/mo · 5.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 16 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: $16,753
• − Mortgage interest: −$7,674
• − Property taxes: −$1,967
• − Insurance: −$685
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$3,985
• Taxable loss: −$239
• Est. tax savings @ 24.0%: +$57
• After-tax cash flow: $2,019/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: Steelton-Highspire SD
• NCES district ID: 4222800
• Math proficiency: 2% ▼ -4.00%
• Reading proficiency: 9% ▼ -12.00%
• Median HH income: $40,685
• Composite: 4.98/100
• National rank: #10040
• State rank: #538 of 539 in PA

Livability — Steelton

• Score: 67/100
• State rank: #971
• US rank: #10606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steelton, PA
• County: Dauphin County · 247,857 people
• City population: 19,401
• 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

1 event — show timeline

• 2026-05-18 Coming Soon $137,000 BRIGHT MLS

Property tax history

+1.2%/yr

Latest (2026): $1,967 · +7.2% YoY. Source: county tax records.