743 Madison Ave · York, PA 17404

$219,900

5 bd · 2.0 ba · 2,555 sqft · MultiFamily public records · 1 Days on market

Built 1900 3,241 sqft lot Est $230k · at est.

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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 +24.0/30.0
• ARV discount +9.5/15.0
• DSCR +7.7/10.0
• 1% rule +6.9/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 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

One of the nicest 2 Units you will find in York! Located on the "Avenues" close to the Fairgrounds and Rt. 30 Complete turn key property. First floor apartment has one bedroom, living room with brick fireplace, and nice kitchen, with a full bath, and washer and dryer hook up in the basement. Second floor apartment has large living room and three bedrooms, great kitchen with stainless steel appliances, bar and convenient washer and dryer hook-up in closet. Nice balcony with steps into manicured backyard with detached garage. This is a must see and a great investment property! Garage is not currently rented, but could be rented for $100.00 per month.

Key facts

• 3,241 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Cap rate 8.6% 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: Devers Sch (math 3% / reading 18%, grade F, #1,396 of 1,518 statewide, top 92%, 695 students, 100% FRL); Edgar Fahs Smith Steam Academy (math 7% / reading 35%, grade F, #432 of 512 statewide, top 85%, 240 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); 252 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• This rent runs 40% of the median local income ($79k/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 $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 $62k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y ago; this cycle's ask is 18302% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $121k; list at $220k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $219,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $229,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
743 Madison Ave	0.00mi	4/2.0 (-1)	2,555 (0%)	1mo	$229,000	$90	94
725 Pennsylvania Ave	0.08mi	4/— (-1)	2,556 (0%)	1mo	$220,000	$86	90
569 W Philadelphia St	0.37mi	5/—	2,540 (-1%)	8mo	$255,000	$100	75
730 Pennsylvania Ave	0.05mi	4/— (-1)	2,292 (-10%)	1mo	$210,000	$92	75
658 Pennsylvania Ave	0.10mi	4/2.0 (-1)	2,292 (-10%)	0mo	$210,000	$92	73
642 Pennsylvania Ave	0.13mi	4/— (-1)	2,292 (-10%)	1mo	$205,000	$89	71
19 Carlisle Ave	0.27mi	5/2.0	2,754 (+8%)	4mo	$250,000	$91	71
726 W Philadelphia St	0.22mi	4/2.0 (-1)	2,256 (-12%)	6mo	$185,000	$82	60
628 W King St	0.46mi	5/—	2,358 (-8%)	9mo	$147,900	$63	58
311 Carlisle Ave	0.11mi	4/3.0 (-1)	2,244 (-12%)	9mo	$205,000	$91	58
339 W Philadelphia St	0.71mi	6/2.0 (+1)	2,522 (-1%)	6mo	$180,000	$71	55
449 Park St	0.50mi	5/—	2,911 (+14%)	7mo	$130,000	$45	48

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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,174
• Equity at exit: $32,788

10-year hold

• IRR: 13.5%
• Equity multiple: 2.26×
• Total profit: $77,341
• Equity at exit: $19,013

Cash invested: $61,572 (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 17404

• Rents YoY: 6.4%
• Active inventory: 252
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,616 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$390 /mo · $4,681/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $432

Break-even live

Break-even rent $2,069

Max offer price $219,900

Occupancy floor 78%

Sensitivity live

Price	-10% $556	-5% $494	+0% $432	+5% $370	+10% $307
Rent	-10% $225	-5% $328	+0% $432	+5% $535	+10% $638
Rate	-1.0pp $542	-0.5pp $488	base $432	+0.5pp $375	+1.0pp $317

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,616
Total (2 units)			$2,616

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 N West St York, PA	6.0	2.0	2100	$2,200	$1.05	23d	1	0.36mi
121 S Belvidere Ave Unit 121 York, PA	5.0	1.5	1846	$1,450	$0.79	46d	1	0.45mi
709 W Princess St York, PA	5.0	1.0	1829	$1,425	$0.78	46d	1	0.50mi
213 Kurtz Ave York, PA	5.0	1.0	1921	$1,850	$0.96	16d	1	1.25mi
119 W Jackson St York, PA	4.0	1.0	1800	$1,395	$0.78	46d	1	1.43mi

Listing history 15 events

1. 2026-04-24
   status Pending
2. 2026-04-21
   historical $219,900
3. 2026-04-04
   historical $1,195
4. 2026-04-04
   listed $1,195
5. 2025-03-21
   historical $1,195
6. 2025-03-20
   listed $1,195
7. 2020-01-21
   soldstatus $121,000
8. 2020-01-17
   soldstatus $121,000 Closed 667-char remark

   Show marketing remark (667 chars)

   One of the nicest 2 Units you will find in York! Located on the "Avenues" close to the Fairgrounds and Rt. 30 Complete turn key property. First floor apartment has one bedroom, living room with brick fireplace, and nice kitchen, with a full bath, and washer and dryer hook up in the basement. Second floor apartment has large living room and three bedrooms, great kitchen with stainless steel appliances, bar and convenient washer and dryer hook-up in closet. Nice balcony with steps into manicured backyard with detached garage. This is a must see and a great investment property! Garage is not currently rented, but could be rented for $100.00 per month.

9. 2019-12-29
   status Pending 667-char remark

   Show marketing remark (667 chars)

   One of the nicest 2 Units you will find in York! Located on the "Avenues" close to the Fairgrounds and Rt. 30 Complete turn key property. First floor apartment has one bedroom, living room with brick fireplace, and nice kitchen, with a full bath, and washer and dryer hook up in the basement. Second floor apartment has large living room and three bedrooms, great kitchen with stainless steel appliances, bar and convenient washer and dryer hook-up in closet. Nice balcony with steps into manicured backyard with detached garage. This is a must see and a great investment property! Garage is not currently rented, but could be rented for $100.00 per month.

10. 2019-11-14
    listed $119,500 Active 667-char remark

    Show marketing remark (667 chars)

    One of the nicest 2 Units you will find in York! Located on the "Avenues" close to the Fairgrounds and Rt. 30 Complete turn key property. First floor apartment has one bedroom, living room with brick fireplace, and nice kitchen, with a full bath, and washer and dryer hook up in the basement. Second floor apartment has large living room and three bedrooms, great kitchen with stainless steel appliances, bar and convenient washer and dryer hook-up in closet. Nice balcony with steps into manicured backyard with detached garage. This is a must see and a great investment property! Garage is not currently rented, but could be rented for $100.00 per month.

11. 2018-06-22
    soldstatus $111,500
12. 2018-06-20
    soldstatus $111,500 971-char remark

    Show marketing remark (971 chars)

    The nicest 2 units I have seen in my career. Lots of horse hair plaster was removed and drywall installed. The home features a detached one car garage and three covered porches. The first floor has a living room with a gas fireplace that has been disconnected, one bedroom and a room that could be used for different purposes, a full bathroom and an eating kitchen. The first floor can use the washer dryer hook up in the basement and also has a storage area. The second floor has a huge living room, an all-purpose room or a third bedroom. There are two bedrooms on the third floor. There is storage in the basement for the second floor tenant. Most recently the front and rear sidewalks have been repaired by the seller and painting has been done in both apartments. 2016 the garage door was replaced. The basement has had a very expensive waterproofing system installed as well as some pumps. This will be one of the nicest two units you will ever find on the avenues.

13. 2018-05-17
    historical 971-char remark

    Show marketing remark (971 chars)

    The nicest 2 units I have seen in my career. Lots of horse hair plaster was removed and drywall installed. The home features a detached one car garage and three covered porches. The first floor has a living room with a gas fireplace that has been disconnected, one bedroom and a room that could be used for different purposes, a full bathroom and an eating kitchen. The first floor can use the washer dryer hook up in the basement and also has a storage area. The second floor has a huge living room, an all-purpose room or a third bedroom. There are two bedrooms on the third floor. There is storage in the basement for the second floor tenant. Most recently the front and rear sidewalks have been repaired by the seller and painting has been done in both apartments. 2016 the garage door was replaced. The basement has had a very expensive waterproofing system installed as well as some pumps. This will be one of the nicest two units you will ever find on the avenues.

14. 2018-04-05
    listed $115,000 971-char remark

    Show marketing remark (971 chars)

    The nicest 2 units I have seen in my career. Lots of horse hair plaster was removed and drywall installed. The home features a detached one car garage and three covered porches. The first floor has a living room with a gas fireplace that has been disconnected, one bedroom and a room that could be used for different purposes, a full bathroom and an eating kitchen. The first floor can use the washer dryer hook up in the basement and also has a storage area. The second floor has a huge living room, an all-purpose room or a third bedroom. There are two bedrooms on the third floor. There is storage in the basement for the second floor tenant. Most recently the front and rear sidewalks have been repaired by the seller and painting has been done in both apartments. 2016 the garage door was replaced. The basement has had a very expensive waterproofing system installed as well as some pumps. This will be one of the nicest two units you will ever find on the avenues.

15. 1990-02-02
    soldstatus $69,000

ⓘ 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: $4,681 · $390/mo
• Projected year-2 tax: $4,681 · $390/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 1/10 Low FEMA zone X (unshaded) · 0% 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 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,392
• − Mortgage interest: −$12,318
• − Property taxes: −$4,681
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,511
• − Management: −$2,511
• − Depreciation: −$6,397
• Taxable income: $1,874
• Est. tax owed @ 24.0%: −$450
• After-tax cash flow: $4,731/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
• Metro: York-Hanover, PA
• Population (ZIP): 39,374
• Household income: $78,506
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 722.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Black 12% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 4%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 12% Russian/Polish/Slavic 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: ▼ -135.44%
• Current HPI: 237.5683
• Rent YoY: ▲ 6.38%
• 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

+218.7% since first listed

15 events — show timeline

• 2026-04-24 Pending — BRIGHT MLS
• 2026-04-21 Coming Soon $219,900 BRIGHT MLS
• 2026-04-04 Rental Removed $1,195 RENTALBEAST
• 2026-04-04 Listed for Rent $1,195 RENTALBEAST
• 2025-03-21 Rental Removed $1,195 RENTALBEAST
• 2025-03-20 Listed for Rent $1,195 RENTALBEAST
• 2020-01-21 Sold (Public Records) $121,000 Public Records
• 2020-01-17 Sold (MLS) $121,000 BRIGHT MLS
• 2019-12-29 Pending — BRIGHT MLS
• 2019-11-14 Listed $119,500 BRIGHT MLS
• 2018-06-22 Sold (Public Records) $111,500 Public Records
• 2018-06-20 Sold (MLS) $111,500 BRIGHT MLS
• 2018-05-17 Listing Removed — BRIGHT MLS
• 2018-04-05 Listed $115,000 BRIGHT MLS
• 1990-02-02 Sold (Public Records) $69,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $4,681 · +0.9% YoY. Source: county tax records.