514 Emerald St · Harrisburg, PA 17110

$160,000

5 bd · 2.0 ba · 1,938 sqft · SingleFamily public records · 136 Days on market

Built 1900 2,614 sqft lot Est $254k · 37% under

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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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

AGENT RELATED TO OWNER. * * OUT OF RESPECT FOR TENANTS, OWNER WILL NOT SCHEDULE SHOWINGS WITHOUT A Letter of Intent, AT FULL LISTED PRICE, AND PROOF OF FUNDS; SUBJECT TO BUYER INSPECTION.

Key facts

• 2,614 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 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 (+1.6%/yr); 170 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $160k implies a 164% 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 $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.14% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $253,878
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2122 Jefferson St	0.26mi	5/1.0	2,156 (+11%)	11mo	$65,000	$30	56
2941 N 6th St	0.68mi	4/1.5 (-1)	1,750 (-10%)	5mo	$230,000	$131	41

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 · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-8,975
• Equity at exit: $23,857

10-year hold

• IRR: 2.4%
• Equity multiple: 1.16×
• Total profit: $7,044
• Equity at exit: $13,834

Cash invested: $44,800 (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 17110

• Rents YoY: 1.6%
• Active inventory: 170
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,831 high
• Mortgage (P&I): −$839
• Tax from tax record: −$234 /mo · $2,808/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $307

Break-even live

Break-even rent $1,443

Max offer price $160,000

Occupancy floor 78%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2406 Reel St Harrisburg, PA	4.0	1.0	1500	$1,395	$0.93	43d	1	0.10mi
652 Emerald St Harrisburg, PA	5.0	1.0	1550	$1,740	$1.12	43d	1	0.13mi
2118 N 4th St Harrisburg, PA	4.0	1.0	1383	$1,595	$1.15	43d	1	0.27mi
514 Radnor St Harrisburg, PA	4.0	1.0	1498	$1,600	$1.07	43d	1	0.34mi
2153 Penn St Harrisburg, PA	4.0	2.0	1620	$1,995	$1.23	43d	1	0.40mi
2032 Susquehanna St Harrisburg, PA	4.0	1.5	1600	$1,595	$1.00	43d	1	0.44mi
2715 N 6th St Harrisburg, PA	4.0	1.0	1620	$1,650	$1.02	13d	1	0.47mi
2728 N 6th St Harrisburg, PA	4.0	2.0	1786	$1,750	$0.98	13d	1	0.50mi
1834 Green St Harrisburg, PA	4.0	1.0	1792	$1,495	$0.83	23d	1	0.58mi
1716 N 6th St Unit NA Harrisburg, PA	4.0	4.0	2400	$2,000	$0.83	23d	1	0.59mi
1716 N 6th St Harrisburg, PA	4.0	3.5	2400	$2,200	$0.92	43d	1	0.59mi
1330 Susquehanna St Harrisburg, PA	4.0	1.5	2280	$1,895	$0.83	23d	1	0.97mi
1202 Penn St Harrisburg, PA	4.0	1.0	1706	$1,495	$0.88	43d	1	1.11mi
3216 Green St Harrisburg, PA	4.0	2.0	1550	$2,200	$1.42	13d	1	1.12mi

Listing history 7 events

1. 2025-09-27
   status Pending
2. 2025-09-02
   price $160,000
3. 2025-09-01
   price $165,000
4. 2025-09-01
   price $160,000
5. 2025-05-15
   listed $180,000 Active
6. 2025-04-27
   historical $180,000
7. 2005-07-13
   soldstatus $60,500

ⓘ 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: $2,808 · $234/mo
• Projected year-2 tax: $2,808 · $234/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 ≥101°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: $21,971
• − Mortgage interest: −$8,962
• − Property taxes: −$2,808
• − Insurance: −$800
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$4,655
• Taxable income: $1,231
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $3,385/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): 27,364
• Household income: $80,699
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1037.0

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: White 47% Black 32% Hispanic / Latino 9% Asian 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Italian 3% Romanian 2% Slovak 1%
• Foreign-born: 8% · Canada, India, Vietnam
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Vietnamese 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: ▼ -144.07%
• Current HPI: 257.826
• Rent YoY: ▲ 1.55%
• 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

+164.5% since first listed

7 events — show timeline

• 2025-09-27 Pending — BRIGHT MLS
• 2025-09-02 Price Changed $160,000 BRIGHT MLS
• 2025-09-01 Price Changed $165,000 BRIGHT MLS
• 2025-09-01 Price Changed $160,000 BRIGHT MLS
• 2025-05-15 Listed $180,000 BRIGHT MLS
• 2025-04-27 Coming Soon $180,000 BRIGHT MLS
• 2005-07-13 Sold (Public Records) $60,500 Public Records

Property tax history

+1.0%/yr

Latest (2026): $2,808 · +1.7% YoY. Source: county tax records.