632 Main St · Lykens, PA 17048

$359,900

9 bd · 4.5 ba · 2,781 sqft · MultiFamily · 30 Days on market

Built 1860 Good condition 4,217 sqft lot

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Why this score? — see what drove the B 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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Appreciation +4.8/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Excellent investment opportunity with strong income potential! This versatile 3-unit commercial property with extra lot! features a recently renovated from top to bottoms with all new electrical, plumbing, metal roof, insulated siding, new kitchens and bathrooms throughout- this building is ready to go for the next owner! Large commercial space featuring the perfect storefront opportunity. Includes a full bathroom and kitchenette. The upper residential units offer additional income potential with one spacious 2-level apartment featuring 3 bedrooms, 1 full bath, and in-unit laundry, while the third unit includes 3 bedrooms and 1.5 baths. Each apartment has private entrances and fend yard. A

Key facts

• 4,217 sq ft lot
• Built 1860
• Listed 29 days

Property features AI

Finance

• Financial info: Gross income reported at $45,000; Net operating income reported at $40,050

Exterior

• Parking: Off-site parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached structure; Estimated above-grade finished area of 2,781 (source: estimated); Fee simple ownership
• Construction: Metal roof; Stone foundation; Above-grade and below-grade structures noted; Year built per assessor
• Exterior features: No tidal water on the property

Interior

• Bedrooms: Two 3-bedroom units; One single-room unit
• Heating & cooling: Central heating (electric); Central air conditioning; Ductless / mini-split cooling; Electric hot water
• Interior features: Unfinished basement; Ramp to main level for accessibility

What this means for you Summary

Snapshot

• This is a 3 × 3.0-bed/1.5-bath units multifamily listed at $360k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $345/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $355k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#969 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Upper Dauphin Area SD (rural): math 37% / reading 55% proficiency, ranked #259 of 539 in PA (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Upper Dauphin Area Hs (math 77%, 343 students, 47% FRL).
• Market conditions: 26 active listings in the ZIP; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).

Forward outlook

• In year one you build about $756 of equity ($2k loan paydown + $-2k appreciation (-0.5% local appreciation)).
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,501 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.24% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.47×
• Total profit: $47,323
• Equity at exit: $95,928

10-year hold

• IRR: 15.6%
• Equity multiple: 2.63×
• Total profit: $164,573
• Equity at exit: $108,670

Cash invested: $100,772 (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 17048

• Home prices YoY: -0.2%
• Active inventory: 26
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $4,457 medium
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$936
• Net cashflow: $1,034

Break-even live

Break-even rent $3,148

Max offer price $359,900

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3.0	1.5	$4,458
Total (3 units)			$4,457

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $359,900 Active 30 DOM
2. 2026-06-17
   days on market $359,900 Active 29 DOM
3. 2026-06-16
   days on market $359,900 Active 28 DOM
4. 2026-06-15
   days on market $359,900 Active 27 DOM
5. 2026-06-13
   days on market $359,900 Active 25 DOM
6. 2026-06-12
   days on market $359,900 Active 24 DOM
7. 2026-06-09
   days on market $359,900 Active 21 DOM
8. 2026-06-08
   days on market $359,900 Active 20 DOM
9. 2026-06-08
   days on market $359,900 Active 19 DOM
10. 2026-06-07
    days on market $359,900 Active 18 DOM
11. 2026-06-04
    days on market $359,900 Active 15 DOM
12. 2026-06-02
    days on market $359,900 Active 14 DOM
13. 2026-06-01
    days on market $359,900 Active 13 DOM
14. 2026-05-31
    days on market $359,900 Active 12 DOM
15. 2026-05-20
    listed $359,900 Active
16. 2026-05-19
    historical $359,900
17. 2026-05-16
    listed $1,300
18. 2025-04-02
    historical $1,300
19. 2025-03-20
    price $1,300
20. 2024-11-19
    listed $1,600
21. 2023-09-21
    status Pending
22. 2023-09-21
    historical
23. 2023-06-12
    status Active
24. 2023-06-09
    historical
25. 2023-01-05
    price $94,900
26. 2022-12-14
    status Active
27. 2022-11-18
    status Pending
28. 2022-10-28
    price $97,500
29. 2022-10-05
    status Active
30. 2022-09-30
    historical
31. 2022-09-08
    price $99,900
32. 2022-08-09
    price $103,400
33. 2022-07-05
    price $108,400
34. 2022-06-02
    price $112,400
35. 2022-04-29
    price $117,400
36. 2022-03-04
    price $119,900
37. 2022-02-08
    listed $124,000 Active

ⓘ 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: $53,484
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,279
• − Management: −$4,279
• − Depreciation: −$10,470
• Taxable income: $7,099
• Est. tax owed @ 24.0%: −$1,704
• After-tax cash flow: $10,702/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 3-unit commercial property is in excellent condition with recent renovations, offering strong income potential and a move-in-ready living space.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value.
• Both Addition of a front porch or entryway — Improves aesthetics and functionality for potential buyers/tenants.
• Both Addition of a garage or carport — Provides additional storage and parking, increasing appeal for potential buyers/tenants.
• Both Addition of a small patio or outdoor seating area — Enhances outdoor living space and appeal for potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value. ↑
• Both Addition of a front porch or entryway — Improves aesthetics and functionality for potential buyers/tenants. ↑
• Both Addition of a garage or carport — Provides additional storage and parking, increasing appeal for potential buyers/tenants. ↑
• Both Addition of a small patio or outdoor seating area — Enhances outdoor living space and appeal for potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Upper Dauphin Area SD
• NCES district ID: 4224360
• Math proficiency: 37% ▼ -3.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $48,201
• Composite: 39.23/100
• National rank: #4012
• State rank: #259 of 539 in PA

Livability — Lykens

• Score: 67/100
• State rank: #969
• US rank: #10571

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lykens, PA
• Population (ZIP): 3,801

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: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Polish 4% Romanian 3% Iranian 3%
• Foreign-born: 1% · Canada, India
• Languages at home: 88% English-only · German/W. Germanic 10% Spanish 2%

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: ▼ -0.48%
• Current HPI: 241.7628
• Rent YoY: —
• Metro: —
• 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

+190.2% since first listed

23 events — show timeline

• 2026-05-20 Listed $359,900 BRIGHT MLS
• 2026-05-19 Coming Soon $359,900 BRIGHT MLS
• 2026-05-16 Listed for Rent $1,300 BUILDIUM
• 2025-04-02 Rental Removed $1,300 BUILDIUM
• 2025-03-20 Price Changed $1,300 BUILDIUM
• 2024-11-19 Listed for Rent $1,600 BUILDIUM
• 2023-09-21 Pending — BRIGHT MLS
• 2023-09-21 Listing Removed — BRIGHT MLS
• 2023-06-12 Relisted — BRIGHT MLS
• 2023-06-09 Listing Removed — BRIGHT MLS
• 2023-01-05 Price Changed $94,900 BRIGHT MLS
• 2022-12-14 Relisted — BRIGHT MLS
• 2022-11-18 Pending — BRIGHT MLS
• 2022-10-28 Price Changed $97,500 BRIGHT MLS
• 2022-10-05 Relisted — BRIGHT MLS
• 2022-09-30 Listing Removed — BRIGHT MLS
• 2022-09-08 Price Changed $99,900 BRIGHT MLS
• 2022-08-09 Price Changed $103,400 BRIGHT MLS
• 2022-07-05 Price Changed $108,400 BRIGHT MLS
• 2022-06-02 Price Changed $112,400 BRIGHT MLS
• 2022-04-29 Price Changed $117,400 BRIGHT MLS
• 2022-03-04 Price Changed $119,900 BRIGHT MLS
• 2022-02-08 Listed $124,000 BRIGHT MLS