2023 Forster St · Harrisburg, PA 17103

$72,000

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 4 Days on market

Built 1900 2,178 sqft lot $60/sqft · 60% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Semi-detached 2 story home with over 1,300 sq ft of living space, 3 bedrooms, full bath, kitchen, dining and living rooms, natural gas heating, attic space and full basement with laundry area. Conveniently located close to downtown as well as restaurants, shopping, and numerous amenities, as well as highways for easy commuting.

Key facts

• Built 1900
• Listed 4 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached structure; Frame construction; Above- and below-grade structures noted
• Construction: Frame construction; Other foundation; Porch(es)
• Exterior features: Not in a federal flood zone; Tidal water: none

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard hot water heating; Natural gas heating fuel; Electric hot water
• Interior features: Full basement; Porch(es)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Cap rate 16.0% 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 fast (+9.1%/yr); 66 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• This rent runs 43% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; 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 $72,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.01% ✓
• Cap rate: 15.96%
• Cash-on-cash: 34.53%
• DSCR: 2.54
• GRM: 4.2

CMA / ARV

• ARV (median comp): $208,341
• List price: $72,000
• Delta: -65.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1616 Park St	0.59mi	3/1.5	1,292 (+8%)	3mo	$175,000	$135	54
2408 Columbia Ave	0.56mi	3/1.5	1,200 (+0%)	21mo	$190,000	$158	54
405 S 26th St	0.63mi	3/1.0	1,144 (-4%)	12mo	$159,900	$140	54
2653 Elm St	0.69mi	3/1.0	1,096 (-8%)	13mo	$150,000	$137	43
2311 Highland Ave	0.73mi	2/1.5 (-1)	1,080 (-10%)	14mo	$224,000	$207	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.46×
• Total profit: $29,472
• Equity at exit: $10,735

10-year hold

• IRR: 42.3%
• Equity multiple: 6.15×
• Total profit: $103,798
• Equity at exit: $6,225

Cash invested: $20,160 (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 17103

• Rents YoY: 9.1%
• Active inventory: 66
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$378
• Tax from tax record: −$153 /mo · $1,833/yr
• Insurance: −$30
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $525

Break-even live

Break-even rent $780

Max offer price $72,000

Occupancy floor 59%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 N 18th St Harrisburg, PA	3.0	1.0	1100	$1,250	$1.14	14d	1	0.50mi
916 May St Harrisburg, PA	2.0	1.5	810	$1,250	$1.54	14d	1	0.51mi
1517 Walnut St Harrisburg, PA	3.0	1.0	1172	$1,150	$0.98	43d	1	0.63mi
1251 Bailey St Harrisburg, PA	3.0	1.0	1200	$1,500	$1.25	43d	1	0.87mi
2016 Swatara St Harrisburg, PA	3.0	1.0	1380	$1,175	$0.85	43d	1	0.89mi
21 Summit St Harrisburg, PA	3.0	1.0	1200	$1,550	$1.29	14d	1	0.90mi
1207 Market St Harrisburg, PA	4.0	1.5	1423	$1,995	$1.40	43d	1	0.93mi
2121 Kensington St Harrisburg, PA	3.0	1.0	1088	$1,450	$1.33	43d	1	0.97mi
337 S 15th St Harrisburg, PA	3.0	1.0	1440	$1,195	$0.83	21d	1	1.02mi
2410 Kensington St Harrisburg, PA	3.0	1.0	1024	$1,495	$1.46	43d	1	1.02mi
3106 Hoffer St Unit 3106 Penbrook, PA	2.0	1.0	900	$1,675	$1.86	14d	1	1.05mi
1139 Mulberry St Harrisburg, PA	1.0–3.0	1.0	900	$1,185	$1.32	43d	1	1.13mi
1615 Naudain St Harrisburg, PA	3.0	1.0	1148	$1,400	$1.22	43d	1	1.14mi
3250 Wakefield Rd Harrisburg, PA	1.0–2.0	1.0	650	$1,305	$2.01	14d	12	1.17mi
1429 Naudain St Harrisburg, PA	3.0	1.0	1254	$1,400	$1.12	23d	1	1.20mi
649 S 23rd St Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	21d	1	1.27mi
649 S 23rd St Unit 1 Harrisburg, PA	3.0	1.0	1450	$1,465	$1.01	43d	1	1.27mi
660 Boas St Harrisburg, PA	2.0	1.0–2.0	800	$1,574	$1.97	14d	21	1.32mi
644 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,295	$1.00	43d	1	1.39mi
640 Kelker St Harrisburg, PA	3.0	1.0	1294	$1,650	$1.28	43d	1	1.40mi
919 Grand St Harrisburg, PA	2.0	1.5	1116	$1,695	$1.52	23d	1	1.41mi
918 Grand St Harrisburg, PA	3.0	1.5	890	$1,450	$1.63	43d	1	1.42mi
319 Market St Harrisburg, PA	2.0	1.5	990	$1,135	$1.15	43d	1	1.43mi
1728 Paxton St Harrisburg, PA	3.0	1.5	1320	$1,295	$0.98	14d	1	1.44mi
301 Chestnut St Harrisburg, PA	4.0	1.0–2.5	1437	$2,525	$1.76	14d	10	1.45mi
301 Chestnut St Harrisburg, PA	1.0–4.0	1.0–2.5	1437	$2,097	$1.46	43d	1	1.45mi
301 N Progress Ave Harrisburg, PA	1.0–3.0	1.0–2.0	1203	$1,610	$1.34	14d	4	1.45mi
923 N 3rd St Unit 1 Harrisburg, PA	2.0	1.0	853	$1,495	$1.75	23d	1	1.49mi
200 S Court St Harrisburg, PA	1.0–3.0	1.0–2.5	950	$1,800	$1.89	14d	14	1.50mi

Listing history 2 events

1. 2026-05-11
   status Pending 329-char remark
2. 2026-05-07
   listed $72,000 Active 329-char remark

ⓘ 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: $1,833 · $153/mo
• Projected year-2 tax: $1,833 · $153/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°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: $17,324
• − Mortgage interest: −$4,033
• − Property taxes: −$1,833
• − Insurance: −$1,026
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$2,095
• Taxable income: $5,565
• Est. tax owed @ 24.0%: −$1,336
• After-tax cash flow: $4,960/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): 13,115
• Household income: $39,825
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 1014.0

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: Black 47% Hispanic / Latino 31% White 18% Two or more races 10%
• Hispanic origin (detail): Mexican 4% Puerto Rican 18% Dominican 5%
• Common ancestry: Hispanic 1% Romanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 83% English-only · Spanish 11% French/Haitian/Cajun 2% Tagalog/Filipino 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: ▼ -119.52%
• Current HPI: 211.455
• Rent YoY: ▲ 9.09%
• 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

+2.8% since first listed

3 events — show timeline

• 2026-05-29 Sold (MLS) $74,000 BRIGHT MLS
• 2026-05-11 Pending — BRIGHT MLS
• 2026-05-07 Listed $72,000 BRIGHT MLS

Property tax history

+1.0%/yr

Latest (2026): $1,833 · +1.6% YoY. Source: county tax records.