166 Ann St · Middletown, PA 17057

$145,000

3 bd · 1.0 ba · 1,976 sqft · SingleFamily public records · 238 Days on market

Built 1920 4,792 sqft lot $73/sqft · 16% below area Est $225k · 35% under ↓ 9% since listing

---

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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +8.4/10.0
• Livability +4.0/5.0
• Schools +3.3/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

UPDATE: Price just reduced. This will be a short sale. Buyer will need to be flexible with getting offer approved and settlement. Tenants have been moved out. Home has been cleaned out. This home will need good amount of repairs and updates. We are looking for a cash or conventional offer. Discover an investment opportunity in the heart of Middletown Borough! This traditional detached home boasts 2,576 sq. ft. of potential, featuring 3 spacious bedrooms and 2 full bathrooms. Set on a manageable 0.11-acre lot, this property includes off-street paved parking, ensuring convenience for tenants or guests. The classic architectural style and solid frame construction provide a timeless appeal. With a strong rental market in the area, this home presents an excellent opportunity for investors seeking steady returns. Whether you're looking to renovate and increase value or maintain as a reliable rental, this property is a canvas ready for your vision. Don't miss out on this chance to invest in a warm and inviting community!

Key facts

• Strong rental market
• 4,792 sq ft lot
• Parking

Tags

• OFF-STREET PAVED PARKING
• CLASSIC ARCHITECTURAL STYLE
• SOLID FRAME CONSTRUCTION
• STRONG RENTAL MARKET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.1% in Middletown — 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 80/100 on livability (#214 in PA, #1,886 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F.
• Middletown Area SD (suburban): math 31% / reading 45% proficiency, ranked #368 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 146 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• This rent runs 32% of the median local income ($73k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $35k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.34% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.07%
• DSCR: 1.58
• GRM: 6.2

CMA / ARV

• ARV (median comp): $224,728
• List price: $145,000
• Delta: -35.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 Russell Ave	0.12mi	3/2.0	1,978 (+0%)	9mo	$259,000	$131	83
162 E Water St	0.59mi	3/1.5	2,112 (+7%)	6mo	$189,900	$90	54
209 N Pine St	0.42mi	3/1.5	2,100 (+6%)	19mo	$310,000	$148	52
552 N Spring St	0.56mi	3/3.0	2,133 (+8%)	2mo	$350,000	$164	51
109 Spruce St	0.48mi	4/2.5 (+1)	2,080 (+5%)	9mo	$275,000	$132	51
320 E Water St	0.70mi	3/1.0	2,006 (+2%)	20mo	$259,900	$130	48
20 W Water St	0.41mi	4/1.0 (+1)	1,692 (-14%)	7mo	$110,000	$65	46
280 E High St	0.75mi	3/1.5	2,031 (+3%)	16mo	$245,000	$121	45
115 Spruce St	0.48mi	3/2.0	2,155 (+9%)	16mo	$305,000	$142	45
153 N Catherine St	0.26mi	4/2.0 (+1)	2,178 (+10%)	23mo	$205,000	$94	42
518 Spruce St	0.72mi	3/2.0	1,736 (-12%)	14mo	$295,000	$170	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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,494
• Equity at exit: $21,620

10-year hold

• IRR: 7.0%
• Equity multiple: 1.49×
• Total profit: $19,977
• Equity at exit: $12,537

Cash invested: $40,600 (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 17057

• Home prices YoY: -23.9%
• Rents YoY: 1.6%
• Active inventory: 146
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,940 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$270 /mo · $3,236/yr
• Insurance: −$60
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $387

Break-even live

Break-even rent $1,451

Max offer price $145,000

Occupancy floor 75%

Sensitivity live

Price	-10% $469	-5% $428	+0% $387	+5% $345	+10% $304
Rent	-10% $233	-5% $310	+0% $387	+5% $463	+10% $540
Rate	-1.0pp $460	-0.5pp $423	base $387	+0.5pp $349	+1.0pp $311

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Market St Middletown, PA	3.0	1.5	1825	$2,200	$1.21	14d	1	0.05mi
112 Nissley St Unit 2 Middletown, PA	2.0	2.0	1266	$1,350	$1.07	24d	1	0.23mi
5001 Walden WAY Middletown, PA	3.0	2.5	1638	$2,800	$1.71	14d	9	0.83mi
1900 Pineford Dr Middletown, PA	1.0–3.0	1.0–2.5	1020	$1,690	$1.66	14d	1	0.97mi

Listing history 15 events

1. 2026-06-05
   statusdays on market $145,000 Pending 238 DOM
2. 2026-06-03
   days on market $145,000 Active 237 DOM
3. 2026-06-02
   days on market $145,000 Active 236 DOM
4. 2026-06-01
   days on market $145,000 Active 235 DOM
5. 2026-05-31
   days on market $145,000 Active 234 DOM
6. 2026-05-31
   days on market $145,000 Active 233 DOM
7. 2026-03-30
   price $145,000 1030-char remark

   Show marketing remark (1030 chars)

   UPDATE: Price just reduced. This will be a short sale. Buyer will need to be flexible with getting offer approved and settlement. Tenants have been moved out. Home has been cleaned out. This home will need good amount of repairs and updates. We are looking for a cash or conventional offer. Discover an investment opportunity in the heart of Middletown Borough! This traditional detached home boasts 2,576 sq. ft. of potential, featuring 3 spacious bedrooms and 2 full bathrooms. Set on a manageable 0.11-acre lot, this property includes off-street paved parking, ensuring convenience for tenants or guests. The classic architectural style and solid frame construction provide a timeless appeal. With a strong rental market in the area, this home presents an excellent opportunity for investors seeking steady returns. Whether you're looking to renovate and increase value or maintain as a reliable rental, this property is a canvas ready for your vision. Don't miss out on this chance to invest in a warm and inviting community!

8. 2026-03-08
   price $149,000 1030-char remark

   Show marketing remark (1030 chars)

   UPDATE: Price just reduced. This will be a short sale. Buyer will need to be flexible with getting offer approved and settlement. Tenants have been moved out. Home has been cleaned out. This home will need good amount of repairs and updates. We are looking for a cash or conventional offer. Discover an investment opportunity in the heart of Middletown Borough! This traditional detached home boasts 2,576 sq. ft. of potential, featuring 3 spacious bedrooms and 2 full bathrooms. Set on a manageable 0.11-acre lot, this property includes off-street paved parking, ensuring convenience for tenants or guests. The classic architectural style and solid frame construction provide a timeless appeal. With a strong rental market in the area, this home presents an excellent opportunity for investors seeking steady returns. Whether you're looking to renovate and increase value or maintain as a reliable rental, this property is a canvas ready for your vision. Don't miss out on this chance to invest in a warm and inviting community!

9. 2025-11-20
   price $155,000 1030-char remark

   Show marketing remark (1030 chars)

   UPDATE: Price just reduced. This will be a short sale. Buyer will need to be flexible with getting offer approved and settlement. Tenants have been moved out. Home has been cleaned out. This home will need good amount of repairs and updates. We are looking for a cash or conventional offer. Discover an investment opportunity in the heart of Middletown Borough! This traditional detached home boasts 2,576 sq. ft. of potential, featuring 3 spacious bedrooms and 2 full bathrooms. Set on a manageable 0.11-acre lot, this property includes off-street paved parking, ensuring convenience for tenants or guests. The classic architectural style and solid frame construction provide a timeless appeal. With a strong rental market in the area, this home presents an excellent opportunity for investors seeking steady returns. Whether you're looking to renovate and increase value or maintain as a reliable rental, this property is a canvas ready for your vision. Don't miss out on this chance to invest in a warm and inviting community!

10. 2025-11-05
    price $170,000 1030-char remark

    Show marketing remark (1030 chars)

    UPDATE: Price just reduced. This will be a short sale. Buyer will need to be flexible with getting offer approved and settlement. Tenants have been moved out. Home has been cleaned out. This home will need good amount of repairs and updates. We are looking for a cash or conventional offer. Discover an investment opportunity in the heart of Middletown Borough! This traditional detached home boasts 2,576 sq. ft. of potential, featuring 3 spacious bedrooms and 2 full bathrooms. Set on a manageable 0.11-acre lot, this property includes off-street paved parking, ensuring convenience for tenants or guests. The classic architectural style and solid frame construction provide a timeless appeal. With a strong rental market in the area, this home presents an excellent opportunity for investors seeking steady returns. Whether you're looking to renovate and increase value or maintain as a reliable rental, this property is a canvas ready for your vision. Don't miss out on this chance to invest in a warm and inviting community!

11. 2025-10-09
    listed $180,000 Active 1030-char remark

    Show marketing remark (1030 chars)

    UPDATE: Price just reduced. This will be a short sale. Buyer will need to be flexible with getting offer approved and settlement. Tenants have been moved out. Home has been cleaned out. This home will need good amount of repairs and updates. We are looking for a cash or conventional offer. Discover an investment opportunity in the heart of Middletown Borough! This traditional detached home boasts 2,576 sq. ft. of potential, featuring 3 spacious bedrooms and 2 full bathrooms. Set on a manageable 0.11-acre lot, this property includes off-street paved parking, ensuring convenience for tenants or guests. The classic architectural style and solid frame construction provide a timeless appeal. With a strong rental market in the area, this home presents an excellent opportunity for investors seeking steady returns. Whether you're looking to renovate and increase value or maintain as a reliable rental, this property is a canvas ready for your vision. Don't miss out on this chance to invest in a warm and inviting community!

12. 2022-11-30
    soldstatus $169,000
13. 2022-11-18
    soldstatus $170,500 Closed 557-char remark

    Show marketing remark (557 chars)

    This huge 4-bedroom 2 bath Multi-family home is located on a huge corner lot in Middletown Borough. This home is in walking distance to Penn State Harrisburg Campus and Harrisburg Int' Airport. It boasts a first-floor master bedroom and bathroom. 3 generous sized bedrooms and a 2nd kitchen located on the second floor. This home has a side porch with a wheel chair accessible ramp, a back and side yard and a paved off street parking pad! This home has endless possibilities. Property is being sold "AS IS". This won't last long! Show and Sell!

14. 2022-10-14
    status Pending 557-char remark

    Show marketing remark (557 chars)

    This huge 4-bedroom 2 bath Multi-family home is located on a huge corner lot in Middletown Borough. This home is in walking distance to Penn State Harrisburg Campus and Harrisburg Int' Airport. It boasts a first-floor master bedroom and bathroom. 3 generous sized bedrooms and a 2nd kitchen located on the second floor. This home has a side porch with a wheel chair accessible ramp, a back and side yard and a paved off street parking pad! This home has endless possibilities. Property is being sold "AS IS". This won't last long! Show and Sell!

15. 2022-09-01
    listed $159,900 Active 557-char remark

    Show marketing remark (557 chars)

    This huge 4-bedroom 2 bath Multi-family home is located on a huge corner lot in Middletown Borough. This home is in walking distance to Penn State Harrisburg Campus and Harrisburg Int' Airport. It boasts a first-floor master bedroom and bathroom. 3 generous sized bedrooms and a 2nd kitchen located on the second floor. This home has a side porch with a wheel chair accessible ramp, a back and side yard and a paved off street parking pad! This home has endless possibilities. Property is being sold "AS IS". This won't last long! Show and Sell!

ⓘ 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: $3,236 · $270/mo
• Projected year-2 tax: $3,236 · $270/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $23,280
• − Mortgage interest: −$8,122
• − Property taxes: −$3,236
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$4,218
• Taxable income: $2,587
• Est. tax owed @ 24.0%: −$621
• After-tax cash flow: $4,017/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: Middletown Area SD
• NCES district ID: 4215240
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $53,128
• Composite: 33.08/100
• National rank: #5567
• State rank: #368 of 539 in PA

Livability — Middletown

• Score: 80/100
• State rank: #214
• US rank: #1886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, PA
• County: Dauphin County · 247,857 people
• City population: 23,560
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 23,560
• Household income: $73,407
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 748.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 8% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 3% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 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: ▼ -83.17%
• Current HPI: 265.6077
• Rent YoY: ▲ 1.58%
• 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

-9.3% since first listed

9 events — show timeline

• 2026-03-30 Price Changed $145,000 BRIGHT MLS
• 2026-03-08 Price Changed $149,000 BRIGHT MLS
• 2025-11-20 Price Changed $155,000 BRIGHT MLS
• 2025-11-05 Price Changed $170,000 BRIGHT MLS
• 2025-10-09 Listed $180,000 BRIGHT MLS
• 2022-11-30 Sold (Public Records) $169,000 Public Records
• 2022-11-18 Sold (MLS) $170,500 BRIGHT MLS
• 2022-10-14 Pending — BRIGHT MLS
• 2022-09-01 Listed $159,900 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2026): $3,236 · +4.0% YoY. Source: county tax records.