223 S Penn St · York, PA 17401

$230,000

6 bd · 3.5 ba · 2,720 sqft · MultiFamily public records · 14 Days on market

Built 1900 2,200 sqft lot Est $193k · 19% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Nestled in a prime location within York City, 223 S Penn St, York, PA, is a multi-unit property offering an appealing investment opportunity. This triplex is poised for a new owner to take advantage of its potential. The first unit is currently tenant-occupied, featuring 2 bedroom and 1 bathroom, providing a consistent source of rental income. Unit 2 is tenant-occupied offering 2 bedrooms and 1 bathroom. Unit 3 is tenant-occupied and features 1 bedroom and 1 bathroom, offering a rear entrance. In terms of utilities, each unit is equipped with its own electric meter, granting tenants control over their electricity usage. Additionally, the owner covers trash, water, and sewer expenses, simplifying management. This property presents an enticing addition to your investment portfolio, whether you seek immediate rental income or long-term growth potential. To explore this promising investment further, don't hesitate to reach out to schedule your tour today! Agents, please read agent remarks for additional details and insights.

Key facts

• 2,200 sq ft lot
• Built 1900
• Listed 14 days

Property features AI

Finance

• Other: Total of 3 units in building; Above-grade finished area reported as 2,900 (source: assessor); Total below-grade area reported as 0
• Financial info: Owned fee simple; Existing leases are month-to-month

Exterior

• Parking: Off-street parking
• Utilities: Natural gas heating fuel; Electric hot water; Public water; Public sewer
• Home design: Detached property; 3 stories
• Construction: Brick construction; Brick/mortar foundation; Above grade and below grade structures; Built year sourced from assessor
• Exterior features: No tidal water

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit; One vacant unit; Two leased units; Two month-to-month units; Units are unfurnished
• Heating & cooling: Hot water heating; Central heating
• Interior features: Multiple access exits (2+)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $392/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Cap rate 12.7% vs local median 4.9% 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.
• Zoned schools: Mckinley Sch (math 5% / reading 14%, grade F, #1,453 of 1,518 statewide, top 96%, 628 students, 100% FRL); William Penn Shs (math 22% / reading 8%, grade F, #407 of 437 statewide, top 94%, 1,534 students, 100% FRL) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 63 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $3,559/mo this rent would consume 100% of the median local household income ($43k/yr) (locally 1360% 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $64k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $189k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,000

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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.55% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.94%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $193,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 S Penn St	0.00mi	6/3.5	2,900 (+7%)	1mo	$210,000	$72	88
456-1/2 W Princess St	0.15mi	5/— (-1)	2,565 (-6%)	10mo	$130,000	$51	70
526 W Philadelphia St	0.42mi	7/— (+1)	2,896 (+6%)	2mo	$200,000	$69	63
339 W Philadelphia St	0.37mi	6/2.0	2,522 (-7%)	6mo	$180,000	$71	60
569 W Philadelphia St	0.48mi	5/— (-1)	2,540 (-7%)	8mo	$255,000	$100	55
19 Carlisle Ave	0.61mi	5/2.0 (-1)	2,754 (+1%)	4mo	$250,000	$91	55
746 W Philadelphia St	0.65mi	7/— (+1)	2,764 (+2%)	14mo	$170,000	$62	50
449 Park St	0.60mi	5/— (-1)	2,911 (+7%)	7mo	$130,000	$45	49
202 N Penn St	0.47mi	5/2.5 (-1)	2,508 (-8%)	11mo	$186,500	$74	47
628 W King St	0.42mi	5/— (-1)	2,358 (-13%)	8mo	$147,900	$63	46
349 S George St	0.56mi	5/3.0 (-1)	2,910 (+7%)	15mo	$178,500	$61	43
668 W King St	0.49mi	7/3.0 (+1)	2,429 (-11%)	18mo	$240,000	$99	38

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 · 6.37% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 1.78×
• Total profit: $50,167
• Equity at exit: $34,294

10-year hold

• IRR: 29.1%
• Equity multiple: 4.03×
• Total profit: $195,306
• Equity at exit: $19,886

Cash invested: $64,400 (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 17401

• Home prices YoY: -16.5%
• Rents YoY: 6.4%
• Active inventory: 63
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,559 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$278 /mo · $3,341/yr
• Insurance: −$96
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $1,176

Break-even live

Break-even rent $2,071

Max offer price $230,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,306	-5% $1,241	+0% $1,176	+5% $1,111	+10% $1,045
Rent	-10% $895	-5% $1,035	+0% $1,176	+5% $1,316	+10% $1,457
Rate	-1.0pp $1,292	-0.5pp $1,234	base $1,176	+0.5pp $1,116	+1.0pp $1,055

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$3,558
Total (3 units)			$3,559

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Kurtz Ave York, PA	5.0	1.0	1921	$1,850	$0.96	14d	1	0.41mi
26 N West St York, PA	6.0	2.0	2100	$2,200	$1.05	22d	1	0.48mi
121 S Belvidere Ave Unit 121 York, PA	5.0	1.5	1846	$1,450	$0.79	45d	1	0.49mi
709 W Princess St York, PA	5.0	1.0	1829	$1,425	$0.78	45d	1	0.50mi

Listing history 8 events

1. 2026-05-01
   status Pending
2. 2026-04-17
   listed $230,000 Active
3. 2024-02-01
   soldstatus $189,000
4. 2024-01-31
   soldstatus $189,000 Closed 1038-char remark

   Show marketing remark (1038 chars)

   Nestled in a prime location within York City, 223 S Penn St, York, PA, is a multi-unit property offering an appealing investment opportunity. This triplex is poised for a new owner to take advantage of its potential. The first unit is currently tenant-occupied, featuring 2 bedroom and 1 bathroom, providing a consistent source of rental income. Unit 2 is tenant-occupied offering 2 bedrooms and 1 bathroom. Unit 3 is tenant-occupied and features 1 bedroom and 1 bathroom, offering a rear entrance. In terms of utilities, each unit is equipped with its own electric meter, granting tenants control over their electricity usage. Additionally, the owner covers trash, water, and sewer expenses, simplifying management. This property presents an enticing addition to your investment portfolio, whether you seek immediate rental income or long-term growth potential. To explore this promising investment further, don't hesitate to reach out to schedule your tour today! Agents, please read agent remarks for additional details and insights.

5. 2023-10-23
   status Pending 1038-char remark

   Show marketing remark (1038 chars)

   Nestled in a prime location within York City, 223 S Penn St, York, PA, is a multi-unit property offering an appealing investment opportunity. This triplex is poised for a new owner to take advantage of its potential. The first unit is currently tenant-occupied, featuring 2 bedroom and 1 bathroom, providing a consistent source of rental income. Unit 2 is tenant-occupied offering 2 bedrooms and 1 bathroom. Unit 3 is tenant-occupied and features 1 bedroom and 1 bathroom, offering a rear entrance. In terms of utilities, each unit is equipped with its own electric meter, granting tenants control over their electricity usage. Additionally, the owner covers trash, water, and sewer expenses, simplifying management. This property presents an enticing addition to your investment portfolio, whether you seek immediate rental income or long-term growth potential. To explore this promising investment further, don't hesitate to reach out to schedule your tour today! Agents, please read agent remarks for additional details and insights.

6. 2023-10-05
   listed $185,000 Active 1038-char remark

   Show marketing remark (1038 chars)

   Nestled in a prime location within York City, 223 S Penn St, York, PA, is a multi-unit property offering an appealing investment opportunity. This triplex is poised for a new owner to take advantage of its potential. The first unit is currently tenant-occupied, featuring 2 bedroom and 1 bathroom, providing a consistent source of rental income. Unit 2 is tenant-occupied offering 2 bedrooms and 1 bathroom. Unit 3 is tenant-occupied and features 1 bedroom and 1 bathroom, offering a rear entrance. In terms of utilities, each unit is equipped with its own electric meter, granting tenants control over their electricity usage. Additionally, the owner covers trash, water, and sewer expenses, simplifying management. This property presents an enticing addition to your investment portfolio, whether you seek immediate rental income or long-term growth potential. To explore this promising investment further, don't hesitate to reach out to schedule your tour today! Agents, please read agent remarks for additional details and insights.

7. 2023-10-03
   historical $185,000 1038-char remark

   Show marketing remark (1038 chars)

   Nestled in a prime location within York City, 223 S Penn St, York, PA, is a multi-unit property offering an appealing investment opportunity. This triplex is poised for a new owner to take advantage of its potential. The first unit is currently tenant-occupied, featuring 2 bedroom and 1 bathroom, providing a consistent source of rental income. Unit 2 is tenant-occupied offering 2 bedrooms and 1 bathroom. Unit 3 is tenant-occupied and features 1 bedroom and 1 bathroom, offering a rear entrance. In terms of utilities, each unit is equipped with its own electric meter, granting tenants control over their electricity usage. Additionally, the owner covers trash, water, and sewer expenses, simplifying management. This property presents an enticing addition to your investment portfolio, whether you seek immediate rental income or long-term growth potential. To explore this promising investment further, don't hesitate to reach out to schedule your tour today! Agents, please read agent remarks for additional details and insights.

8. 1985-05-02
   soldstatus $32,500

ⓘ 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: $3,341 · $278/mo
• Projected year-2 tax: $3,487 · $291/mo
• Expected delta: +$147/yr (+$12/mo · 4.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 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: $42,708
• − Mortgage interest: −$12,884
• − Property taxes: −$3,341
• − Insurance: −$1,816
• − Repairs & maintenance: −$3,417
• − Management: −$3,417
• − Depreciation: −$6,691
• Taxable income: $11,143
• Est. tax owed @ 24.0%: −$2,674
• After-tax cash flow: $11,434/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: 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): 18,570
• Household income: $42,826
• Rent vs Own: 67.4% rent · 32.6% own
• Severe rent burden: 1360.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 31% Black 24% Two or more races 15%
• Hispanic origin (detail): Mexican 5% Puerto Rican 22% Dominican 10%
• Common ancestry: Romanian 2% Hispanic 1% Italian 1%
• Foreign-born: 14% · Canada
• Languages at home: 72% English-only · Spanish 25% French/Haitian/Cajun 2%

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: ▼ -63.82%
• Current HPI: 323.5537
• Rent YoY: ▲ 6.37%
• 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

+607.7% since first listed

8 events — show timeline

• 2026-05-01 Pending — BRIGHT MLS
• 2026-04-17 Listed $230,000 BRIGHT MLS
• 2024-02-01 Sold (Public Records) $189,000 Public Records
• 2024-01-31 Sold (MLS) $189,000 BRIGHT MLS
• 2023-10-23 Pending — BRIGHT MLS
• 2023-10-05 Listed $185,000 BRIGHT MLS
• 2023-10-03 Coming Soon $185,000 BRIGHT MLS
• 1985-05-02 Sold (Public Records) $32,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,341 · +71.6% YoY. Source: county tax records.