2212 Perkiomen Ave · Mount Penn, PA 19606

$298,500

2 bd · 1.5 ba · 1,800 sqft · MultiFamily · 16 Days on market

Built 1920 2,614 sqft lot Est $283k · 6% over

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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 +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• ARV discount +5.0/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

How do I write this better. .. .. .Affordable, finished commercial space with an upstairs two bedroom apartment. .. .. Work in one, live in one. .. .. Located on a well travelled stretch of 422, with the traffic counts you are looking for, but, yet with a neighborhood feel. .. .this solidly built brick twin can afford you the space to house your business and yourself in the same building, secluded "zen" garden spot in the back of the property. .. .emergency exit to the second floor residential two bedroom apartment. .. .. .. .. economical natural gas upgraded heating system, ample electric service, electric hot water. .. .The two bedroom upstairs unit offers a full kitchen with el

Key facts

• Full kitchen
• Full bathroom
• Emergency exit

Tags

• UPSTAIRS TWO BEDROOM APARTMENT
• FULL KITCHEN
• FULL BATHROOM
• TUB SHOWER COMBINATION
• EMERGENCY EXIT
• ONE YEAR AHS HOME WARRANTY

Property features AI

Finance

• Financial info: Fee simple ownership; One vacant unit; Units not furnished; Ground rent paid annually
• HOA & community: No rent control

Exterior

• Parking: Public on-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Estimated year built; Building not winterized
• Construction: Vinyl siding; Block foundation; Shingle roof; Two total units (multi-unit)
• Exterior features: Irregular lot; Municipal trash service; Above-grade and below-grade structures noted

Interior

• Kitchen: Dishwasher; Electric oven/range; Refrigerator; Electric water heater
• Bedrooms: One two-bedroom unit
• Flooring: Fully carpeted areas; Laminate flooring; Tile/brick flooring
• Bathrooms: Bathroom(s) with tub/shower
• Heating & cooling: Hot water heating (natural gas); Wall air-conditioning unit; 100 amp electrical service
• Interior features: Eat-in kitchen; Tub/shower; Cedar closets; Room currently used as store/office; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $298k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $298k).
• Recommended offer: $294k (1.5% below list) — sets the bar for market timing.

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: schools D+, 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.
• Market conditions: 166 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).
• This rent runs 44% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• It's been on market 16 days — a 2% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $294,022 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.87%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $282,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2118 Fairview Ave	0.14mi	3/— (+1)	1,866 (+4%)	20mo	$292,525	$157	66

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: -7.2%
• Equity multiple: 0.73×
• Total profit: $-22,270
• Equity at exit: $44,507

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $14,346
• Equity at exit: $25,809

Cash invested: $83,580 (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: 15.9×

Monthly cashflow live

• Estimated rent: $3,129 medium
• Mortgage (P&I): −$1,565
• Tax est. 1.5%: −$373 /mo · $4,478/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $409

Break-even live

Break-even rent $2,611

Max offer price $298,500

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,130
Total (2 units)			$3,129

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: $74,625
• Closing costs: $8,955
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Hilbert Ct Reading, PA	3.0	1.5	1288	$1,695	$1.32	21d	1	0.82mi
553 Wunder St Unit 2 Reading, PA	2.0	1.0	1242	$1,500	$1.21	21d	1	1.18mi

Listing history 13 events

1. 2026-06-18
   days on market $298,500 Active 16 DOM
2. 2026-06-17
   days on market $298,500 Active 15 DOM
3. 2026-06-16
   days on market $298,500 Active 14 DOM
4. 2026-06-15
   pricedays on market $298,500 Active 13 DOM
5. 2026-06-14
   days on market $305,900 Active 11 DOM
6. 2026-06-13
   days on market $305,900 Active 10 DOM
7. 2026-06-10
   days on market $305,900 Active 8 DOM
8. 2026-06-09
   days on market $305,900 Active 7 DOM
9. 2026-06-08
   days on market $305,900 Active 6 DOM
10. 2026-06-07
    days on market $305,900 Active 5 DOM
11. 2026-06-05
    days on market $305,900 Active 2 DOM
12. 2026-06-03
    remarks 689-char remark
13. 2026-06-03
    listed $305,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,548
• − Mortgage interest: −$16,721
• − Property taxes: −$4,478
• − Insurance: −$1,492
• − Repairs & maintenance: −$3,004
• − Management: −$3,004
• − Depreciation: −$8,684
• Taxable income: $166
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $4,869/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

+126.8% since first listed

5 events — show timeline

• 2026-06-02 Listed $305,900 BRIGHT MLS
• 2019-09-28 Listing Removed — BRIGHT MLS
• 2019-05-01 Relisted — BRIGHT MLS
• 2019-04-30 Listing Removed — BRIGHT MLS
• 2018-10-17 Listed $134,900 BRIGHT MLS