204 10th St · Berwick, PA 18603

$147,100

10 bd · 4.0 ba · 3,904 sqft · MultiFamily · 10 Days on market

Built 1900 Poor condition ↓ 43% 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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• 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

View the property from the exterior and let your imagination do the work. This property is condemned and no interior access is allowed.

Key facts

• Built 1900
• Listed 10 days

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential
• Construction: Wood siding construction
• Exterior features: Wood siding; Zoned residential

Interior

• Interior features: Residential income property (multi-family)

What this means for you Summary

Snapshot

• This is a 10-bed/4.0-bath multifamily listed at $147k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $147k).
• Cap rate 8.0% vs local median 5.4% in Berwick — 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 76/100 on livability (#412 in PA, #3,762 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Berwick Area SD (other): math 32% / reading 57% proficiency, ranked #291 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 86 active listings in the ZIP; 82 units permitted in Columbia County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Columbia County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,100

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 1900 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.06% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-10,110
• Equity at exit: $21,933

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $8,936
• Equity at exit: $12,719

Cash invested: $41,188 (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 18603

• Active inventory: 86
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$771
• Tax est. 1.5%: −$184 /mo · $2,206/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $215

Break-even live

Break-even rent $1,287

Max offer price $147,100

Occupancy floor 81%

Sensitivity live

Price	-10% $317	-5% $266	+0% $215	+5% $164	+10% $113
Rent	-10% $92	-5% $154	+0% $215	+5% $277	+10% $338
Rate	-1.0pp $289	-0.5pp $253	base $215	+0.5pp $177	+1.0pp $138

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: $36,775
• Closing costs: $4,413
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-05-31
   days on market $147,100 Active 10 DOM
2. 2026-05-30
   days on market $147,100 Active 9 DOM
3. 2026-05-21
   listed $147,100 Active
4. 2026-04-20
   historical
5. 2026-04-09
   price $147,100
6. 2026-03-19
   price $147,900
7. 2026-03-04
   price $148,700
8. 2026-02-10
   price $149,500
9. 2026-01-23
   price $151,300
10. 2026-01-07
    price $152,100
11. 2025-12-22
    price $153,100
12. 2025-12-03
    price $155,800
13. 2025-12-02
    status Active
14. 2025-11-10
    status Pending
15. 2025-10-10
    price $164,500
16. 2025-09-23
    price $182,000
17. 2025-09-02
    price $213,800
18. 2025-08-15
    price $241,200
19. 2025-07-31
    price $252,900
20. 2025-07-15
    listed $257,600 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,710
• − Mortgage interest: −$8,240
• − Property taxes: −$2,206
• − Insurance: −$736
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$4,279
• Taxable income: $255
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $2,521/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 · 5 photos

Poor 20/100 Extensive rehab

This multi-family property is in poor condition with extensive damage to the exterior and boarded-up windows and doors. Immediate repairs are needed to stabilize the structure and improve safety and aesthetics.

Repairs flagged

• Major Boarded-up windows and doors — Structural damage
• Major Exterior siding — Significant damage

Value-add opportunities

• Both Board up and secure windows and doors — Safety and security
• Both Repair and paint exterior siding — Aesthetics and safety
• Both Inspect and repair roof — Structural integrity and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Boarded-up windows and doors · Structural damage	Major	$15,000–50,000
Exterior siding · Significant damage	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Board up and secure windows and doors — Safety and security ↑
• Both Repair and paint exterior siding — Aesthetics and safety ↑
• Both Inspect and repair roof — Structural integrity and safety ↑

ⓘ 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: Berwick Area SD
• NCES district ID: 4203480
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 57% ▼ -6.00%
• Median HH income: $41,964
• Composite: 37.36/100
• National rank: #4433
• State rank: #291 of 539 in PA

Livability — Berwick

• Score: 76/100
• State rank: #412
• US rank: #3762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berwick, PA
• Population (ZIP): 18,985

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 65,170 people
• By 2030: 64,054 · -1.7%
• By 2040: 61,131 · -6.2%
• By 2050: 57,526 · -11.7%
• By 2075: 50,259 · -22.9%
• By 2100: 44,756 · -31.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Black 3%
• Common ancestry: Romanian 6% Polish 4% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+31.0) · D 34.0% · R 65.0%
• 2008→2024 swing: -26.6pp toward R · 2008: -4.5pp · 2024: -31.0pp
• All cycles: 2024: R+31.0 2020: R+30.7 2016: R+32.8 2012: R+12.4 2008: R+4.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.40%
• Current HPI: 211.5643
• 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

-42.9% since first listed

18 events — show timeline

• 2026-05-21 Listed $147,100 LCAR
• 2026-04-20 Listing Removed — BRIGHT MLS
• 2026-04-09 Price Changed $147,100 BRIGHT MLS
• 2026-03-19 Price Changed $147,900 BRIGHT MLS
• 2026-03-04 Price Changed $148,700 BRIGHT MLS
• 2026-02-10 Price Changed $149,500 BRIGHT MLS
• 2026-01-23 Price Changed $151,300 BRIGHT MLS
• 2026-01-07 Price Changed $152,100 BRIGHT MLS
• 2025-12-22 Price Changed $153,100 BRIGHT MLS
• 2025-12-03 Price Changed $155,800 BRIGHT MLS
• 2025-12-02 Relisted — BRIGHT MLS
• 2025-11-10 Pending — BRIGHT MLS
• 2025-10-10 Price Changed $164,500 BRIGHT MLS
• 2025-09-23 Price Changed $182,000 BRIGHT MLS
• 2025-09-02 Price Changed $213,800 BRIGHT MLS
• 2025-08-15 Price Changed $241,200 BRIGHT MLS
• 2025-07-31 Price Changed $252,900 BRIGHT MLS
• 2025-07-15 Listed $257,600 BRIGHT MLS