1001 W Princess St · York, PA 17403

$300,000

4 bd · 4.0 ba · 6,214 sqft · MultiFamily · 29 Days on market

Built 1905 Fair condition 2,701 sqft lot ↓ 6% since listing

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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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0
• 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 MLS

Opportunity Knocks! Own a Pizza Shop + 3 Apartment Units! Don't miss out on this prime investment opportunity! Own a well-established pizza shop and three fully occupied apartment units. The business is thriving, and the apartments are providing steady rental income. While the property could use some TLC, it's priced accordingly, giving you the chance to add value and make it your own. -Three off-street parking spaces for tenants. -The current pizza shop owner is interested in staying and continuing the business, but the decision is ultimately up to the new owner. This is an excellent opportunity for anyone looking to invest in a turn-key operation with room for growth. Contact us today for more details!

Key facts

• Commercial space
• Convenient location
• Great visibility

Tags

• COMMERCIAL SPACE
• RESIDENTIAL APARTMENTS
• IMMEDIATE RENTAL INCOME
• OPPORTUNITY TO RENOVATE
• CONVENIENT LOCATION
• GREAT VISIBILITY

Property features AI

Finance

• Financial info: Total actual rent reported: $48,540; Existing leases are yearly; Income includes apartment rentals and shop rentals; Currently 3 units leased and 1 unit vacant

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: 3-story multiunit building; Total of 4 units; Fee simple ownership
• Construction: Frame construction; Stone and other foundation; Asphalt shingle roof; Built (year estimated)
• Exterior features: Crushed stone parking area; Off-street parking and on-street parking available; No tidal water on the lot

Interior

• Bedrooms: Two 1-bedroom units; One 2-bedroom unit
• Flooring: Laminated flooring; Wood flooring
• Heating & cooling: Hot water heating (oil-fired); Window air conditioning units
• Interior features: Full unfinished basement; Above-grade finished area approximately 6,214

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $300k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $296k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.0% in York — 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 75/100 on livability (#427 in PA, #3,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime F, employment F.
• York City SD (urban): math 4% / reading 16% proficiency, ranked #534 of 539 in PA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 213 active listings in the ZIP; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $3,256/mo this rent would consume 52% of the median local household income ($75k/yr) (locally 1305% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $190k; list at $300k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,500 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $192,634
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 W Princess St	0.00mi	4/3.5	6,214 (0%)	15mo	$190,000	$31	86

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-12,030
• Equity at exit: $44,731

10-year hold

• IRR: 7.5%
• Equity multiple: 1.60×
• Total profit: $50,722
• Equity at exit: $25,939

Cash invested: $84,000 (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 17403

• Home prices YoY: -26.9%
• Rents YoY: 4.4%
• Active inventory: 213
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $3,256 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $499

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 80%

Sensitivity live

Price	-10% $706	-5% $603	+0% $499	+5% $395	+10% $292
Rent	-10% $242	-5% $370	+0% $499	+5% $628	+10% $756
Rate	-1.0pp $650	-0.5pp $575	base $499	+0.5pp $421	+1.0pp $342

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,894
1× unit	2	1	$1,363
Total (3 units)			$3,256

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $300,000 Active 29 DOM
2. 2026-06-17
   days on market $300,000 Active 28 DOM
3. 2026-06-16
   days on market $300,000 Active 27 DOM
4. 2026-06-15
   days on market $300,000 Active 26 DOM
5. 2026-06-14
   days on market $300,000 Active 24 DOM
6. 2026-06-13
   days on market $300,000 Active 23 DOM
7. 2026-06-10
   days on market $300,000 Active 21 DOM
8. 2026-06-09
   days on market $300,000 Active 20 DOM
9. 2026-06-08
   days on market $300,000 Active 19 DOM
10. 2026-06-07
    days on market $300,000 Active 18 DOM
11. 2026-06-03
    days on market $300,000 Active 14 DOM
12. 2026-06-02
    days on market $300,000 Active 13 DOM
13. 2026-06-01
    days on market $300,000 Active 12 DOM
14. 2026-05-31
    days on market $300,000 Active 11 DOM
15. 2026-05-30
    days on market $300,000 Active 10 DOM
16. 2026-05-20
    listed $300,000 Active
17. 2026-05-08
    historical $1,500
18. 2026-02-01
    historical $1,500
19. 2025-12-18
    price $1,500
20. 2025-12-16
    price $1,895
21. 2025-09-18
    price $895
22. 2025-08-26
    price $2,450
23. 2025-08-08
    listed $795
24. 2025-07-10
    price $2,500
25. 2025-04-22
    listed $2,700
26. 2025-03-24
    soldstatus $190,000 Closed 713-char remark

    Show marketing remark (713 chars)

    Opportunity Knocks! Own a Pizza Shop + 3 Apartment Units! Don't miss out on this prime investment opportunity! Own a well-established pizza shop and three fully occupied apartment units. The business is thriving, and the apartments are providing steady rental income. While the property could use some TLC, it's priced accordingly, giving you the chance to add value and make it your own. -Three off-street parking spaces for tenants. -The current pizza shop owner is interested in staying and continuing the business, but the decision is ultimately up to the new owner. This is an excellent opportunity for anyone looking to invest in a turn-key operation with room for growth. Contact us today for more details!

27. 2025-03-06
    status Pending 713-char remark

    Show marketing remark (713 chars)

    Opportunity Knocks! Own a Pizza Shop + 3 Apartment Units! Don't miss out on this prime investment opportunity! Own a well-established pizza shop and three fully occupied apartment units. The business is thriving, and the apartments are providing steady rental income. While the property could use some TLC, it's priced accordingly, giving you the chance to add value and make it your own. -Three off-street parking spaces for tenants. -The current pizza shop owner is interested in staying and continuing the business, but the decision is ultimately up to the new owner. This is an excellent opportunity for anyone looking to invest in a turn-key operation with room for growth. Contact us today for more details!

28. 2025-02-26
    price $258,000 713-char remark

    Show marketing remark (713 chars)

    Opportunity Knocks! Own a Pizza Shop + 3 Apartment Units! Don't miss out on this prime investment opportunity! Own a well-established pizza shop and three fully occupied apartment units. The business is thriving, and the apartments are providing steady rental income. While the property could use some TLC, it's priced accordingly, giving you the chance to add value and make it your own. -Three off-street parking spaces for tenants. -The current pizza shop owner is interested in staying and continuing the business, but the decision is ultimately up to the new owner. This is an excellent opportunity for anyone looking to invest in a turn-key operation with room for growth. Contact us today for more details!

29. 2025-02-05
    price $278,000 713-char remark

    Show marketing remark (713 chars)

    Opportunity Knocks! Own a Pizza Shop + 3 Apartment Units! Don't miss out on this prime investment opportunity! Own a well-established pizza shop and three fully occupied apartment units. The business is thriving, and the apartments are providing steady rental income. While the property could use some TLC, it's priced accordingly, giving you the chance to add value and make it your own. -Three off-street parking spaces for tenants. -The current pizza shop owner is interested in staying and continuing the business, but the decision is ultimately up to the new owner. This is an excellent opportunity for anyone looking to invest in a turn-key operation with room for growth. Contact us today for more details!

30. 2025-01-06
    listed $298,000 Active 713-char remark

    Show marketing remark (713 chars)

    Opportunity Knocks! Own a Pizza Shop + 3 Apartment Units! Don't miss out on this prime investment opportunity! Own a well-established pizza shop and three fully occupied apartment units. The business is thriving, and the apartments are providing steady rental income. While the property could use some TLC, it's priced accordingly, giving you the chance to add value and make it your own. -Three off-street parking spaces for tenants. -The current pizza shop owner is interested in staying and continuing the business, but the decision is ultimately up to the new owner. This is an excellent opportunity for anyone looking to invest in a turn-key operation with room for growth. Contact us today for more details!

31. 2024-02-04
    status Pending
32. 2024-01-09
    status Active
33. 2024-01-04
    status Pending
34. 2023-12-19
    price $250,000
35. 2023-11-20
    price $260,000
36. 2023-09-30
    price $280,000
37. 2023-08-28
    price $300,000
38. 2023-07-21
    listed $320,000 Active

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $39,072
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,126
• − Management: −$3,126
• − Depreciation: −$8,727
• Taxable income: $1,289
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $5,679/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

Fair 45/100 Moderate rehab

This multi-unit property requires moderate renovations to its commercial and residential spaces, with a focus on improving the kitchen and bath areas, and addressing safety concerns. The property has potential for significant value increase through these improvements.

Repairs flagged

• Major Exposed ductwork — Safety hazard and poor air quality
• Major Cluttered space — Disorganized and unappealing
• Major Unfinished kitchen and bath — Needs complete renovation

Value-add opportunities

• Both Paint and flooring — Enhances curb appeal and interior aesthetics
• Both Ductwork and organization — Improves air quality and overall cleanliness

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed ductwork · Safety hazard and poor air quality	Major	$15,000–50,000
Cluttered space · Disorganized and unappealing	Major	$15,000–50,000
Unfinished kitchen and bath · Needs complete renovation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint and flooring — Enhances curb appeal and interior aesthetics ↑
• Both Ductwork and organization — Improves air quality and overall cleanliness ↑

ⓘ 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: York City SD
• NCES district ID: 4226820
• Math proficiency: 4% ▼ -7.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $29,470
• Composite: 7.61/100
• National rank: #9943
• State rank: #534 of 539 in PA

Livability — York

• Score: 75/100
• State rank: #427
• US rank: #3987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: York, PA
• County: York County · 278,806 people
• City population: 184,764
• Metro: York-Hanover, PA
• Population (ZIP): 40,287
• Household income: $75,384
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1305.0

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Arabic 1%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.51%
• Current HPI: 284.0731
• Rent YoY: ▲ 4.43%
• Metro: York-Hanover, 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

-6.2% since first listed

23 events — show timeline

• 2026-05-20 Listed $300,000 BRIGHT MLS
• 2026-05-08 Rental Removed $1,500 APPFOLIO
• 2026-02-01 Rental Removed $1,500 APPFOLIO
• 2025-12-18 Price Changed $1,500 APPFOLIO
• 2025-12-16 Price Changed $1,895 APPFOLIO
• 2025-09-18 Price Changed $895 APPFOLIO
• 2025-08-26 Price Changed $2,450 APPFOLIO
• 2025-08-08 Listed for Rent $795 APPFOLIO
• 2025-07-10 Price Changed $2,500 APPFOLIO
• 2025-04-22 Listed for Rent $2,700 APPFOLIO
• 2025-03-24 Sold (MLS) $190,000 BRIGHT MLS
• 2025-03-06 Pending — BRIGHT MLS
• 2025-02-26 Price Changed $258,000 BRIGHT MLS
• 2025-02-05 Price Changed $278,000 BRIGHT MLS
• 2025-01-06 Listed $298,000 BRIGHT MLS
• 2024-02-04 Pending — BRIGHT MLS
• 2024-01-09 Relisted — BRIGHT MLS
• 2024-01-04 Pending — BRIGHT MLS
• 2023-12-19 Price Changed $250,000 BRIGHT MLS
• 2023-11-20 Price Changed $260,000 BRIGHT MLS
• 2023-09-30 Price Changed $280,000 BRIGHT MLS
• 2023-08-28 Price Changed $300,000 BRIGHT MLS
• 2023-07-21 Listed $320,000 BRIGHT MLS