315 N Front St · Harrisburg, PA 17101

$995,000

96 bd · None ba · 8,560 sqft · MultiFamily · 272 Days on market

Built 1850 Fair condition 5,227 sqft lot $116/sqft · 72% above area

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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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 8 units. estimate disagrees with records

Listing remarks MLS

;; Investment Highlights – 315 N. Front St, Harrisburg, PA 8-Unit Apartment Building (1) Three-Bedroom Unit (2) Two-Bedroom Units (5) One-Bedroom Units Parking & Storage 7 Off-Street Parking Spaces 2-Car Garage Location Advantages Not in the flood plain Exceptional river views Directly across from City Island Walkable to downtown, restaurants, and commuter routes Recent Improvements All roofs replaced Interior renovations underway; some still need completion (value-add potential) Financial Benefits Over $200,000 in approved tax credits available to next owner Consistent rental demand in a prime Harrisburg location

Key facts

• Value-add potential
• Walkable to downtown
• Off-street parking

Tags

• RIVER VIEWS
• WALKABLE TO DOWNTOWN
• INTERIOR RENOVATIONS UNDERWAY
• OFF-STREET PARKING
• VALUE-ADD POTENTIAL

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 2×2bd/1ba + 5×1bd/1ba units multifamily listed at $995k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $241/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $995k).
• Recommended offer: $876k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: schools C-, 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.
• Market conditions: Rents flat; 7 active listings in the ZIP; 540 units permitted in Dauphin County in 2024 (194 in 5+ unit buildings).
• At $11,147/mo this rent would consume 263% of the median local household income ($51k/yr) (locally 441% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($7k loan paydown + $-1k appreciation (-0.1% local appreciation)).
• At projected returns (-0.1% appreciation + 1.0% rent growth), your $279k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($876k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $416k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $633k; list at $995k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $875,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $579,774
• List price: $995,000
• Delta: 71.62%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-0.15% appreciation · 0.96% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.23×
• Total profit: $64,639
• Equity at exit: $281,561

10-year hold

• IRR: 8.9%
• Equity multiple: 1.90×
• Total profit: $249,695
• Equity at exit: $332,635

Cash invested: $278,600 (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 17101

• Home prices YoY: -0.1%
• Rents YoY: 1.0%
• Active inventory: 7
• Price-to-rent: 53.3×

Monthly cashflow live

• Estimated rent: $11,147 high
• Mortgage (P&I): −$5,218
• Tax est. 1.5%: −$1,244 /mo · $14,925/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,341
• Net cashflow: $1,930

Break-even live

Break-even rent $8,704

Max offer price $995,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,556
▸ 2× units	2	1	$2,878
▸ 5× units	1	1	$6,715
Total (8 units)			$11,147

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $995,000 Active 272 DOM
2. 2026-06-17
   days on market $995,000 Active 271 DOM
3. 2026-06-16
   days on market $995,000 Active 270 DOM
4. 2026-06-15
   days on market $995,000 Active 269 DOM
5. 2026-06-14
   days on market $995,000 Active 267 DOM
6. 2026-06-13
   days on market $995,000 Active 266 DOM
7. 2026-06-10
   days on market $995,000 Active 264 DOM
8. 2026-06-09
   days on market $995,000 Active 263 DOM
9. 2026-06-08
   days on market $995,000 Active 262 DOM
10. 2026-06-07
    days on market $995,000 Active 261 DOM
11. 2026-06-03
    days on market $995,000 Active 257 DOM
12. 2026-06-02
    days on market $995,000 Active 256 DOM
13. 2026-06-01
    days on market $995,000 Active 255 DOM
14. 2026-05-31
    days on market $995,000 Active 254 DOM
15. 2026-05-31
    days on market $995,000 Active 253 DOM
16. 2026-01-03
    price $995,000 633-char remark

    Show marketing remark (633 chars)

    ;; Investment Highlights – 315 N. Front St, Harrisburg, PA 8-Unit Apartment Building (1) Three-Bedroom Unit (2) Two-Bedroom Units (5) One-Bedroom Units Parking & Storage 7 Off-Street Parking Spaces 2-Car Garage Location Advantages Not in the flood plain Exceptional river views Directly across from City Island Walkable to downtown, restaurants, and commuter routes Recent Improvements All roofs replaced Interior renovations underway; some still need completion (value-add potential) Financial Benefits Over $200,000 in approved tax credits available to next owner Consistent rental demand in a prime Harrisburg location

17. 2026-01-03
    status Active 633-char remark

    Show marketing remark (633 chars)

    ;; Investment Highlights – 315 N. Front St, Harrisburg, PA 8-Unit Apartment Building (1) Three-Bedroom Unit (2) Two-Bedroom Units (5) One-Bedroom Units Parking & Storage 7 Off-Street Parking Spaces 2-Car Garage Location Advantages Not in the flood plain Exceptional river views Directly across from City Island Walkable to downtown, restaurants, and commuter routes Recent Improvements All roofs replaced Interior renovations underway; some still need completion (value-add potential) Financial Benefits Over $200,000 in approved tax credits available to next owner Consistent rental demand in a prime Harrisburg location

18. 2025-12-31
    historical 633-char remark

    Show marketing remark (633 chars)

    ;; Investment Highlights – 315 N. Front St, Harrisburg, PA 8-Unit Apartment Building (1) Three-Bedroom Unit (2) Two-Bedroom Units (5) One-Bedroom Units Parking & Storage 7 Off-Street Parking Spaces 2-Car Garage Location Advantages Not in the flood plain Exceptional river views Directly across from City Island Walkable to downtown, restaurants, and commuter routes Recent Improvements All roofs replaced Interior renovations underway; some still need completion (value-add potential) Financial Benefits Over $200,000 in approved tax credits available to next owner Consistent rental demand in a prime Harrisburg location

19. 2025-11-17
    price $1,210,500 633-char remark

    Show marketing remark (633 chars)

    ;; Investment Highlights – 315 N. Front St, Harrisburg, PA 8-Unit Apartment Building (1) Three-Bedroom Unit (2) Two-Bedroom Units (5) One-Bedroom Units Parking & Storage 7 Off-Street Parking Spaces 2-Car Garage Location Advantages Not in the flood plain Exceptional river views Directly across from City Island Walkable to downtown, restaurants, and commuter routes Recent Improvements All roofs replaced Interior renovations underway; some still need completion (value-add potential) Financial Benefits Over $200,000 in approved tax credits available to next owner Consistent rental demand in a prime Harrisburg location

20. 2025-09-16
    listed $1,410,500 Active 633-char remark

    Show marketing remark (633 chars)

    ;; Investment Highlights – 315 N. Front St, Harrisburg, PA 8-Unit Apartment Building (1) Three-Bedroom Unit (2) Two-Bedroom Units (5) One-Bedroom Units Parking & Storage 7 Off-Street Parking Spaces 2-Car Garage Location Advantages Not in the flood plain Exceptional river views Directly across from City Island Walkable to downtown, restaurants, and commuter routes Recent Improvements All roofs replaced Interior renovations underway; some still need completion (value-add potential) Financial Benefits Over $200,000 in approved tax credits available to next owner Consistent rental demand in a prime Harrisburg location

21. 2024-08-06
    soldstatus $633,000 Closed 1116-char remark

    Show marketing remark (1116 chars)

    Welcome to this incredible Historic property located in popular Harrisburg City with stunning views of the Susquehanna River and walking distance from some of Harrisburg's finest dining/entertainment venues. Must see aerial pictures to truly appreciate the surrounding area! Enjoy views of City Island while being steps away from Front Street walking paths, annual festivals, 4th of July fireworks, and so much! Property is zoned Riverfront District (RF) and was previously a professional law office but certainly can be converted back to residential. Endless opportunity to convert/renovate into multiple units to allow new owner to live in one unit while renting the many other units. Conveniently located to major highways for easy commute in/out of the city limits. Very charming, detached Carriage house with 3 car garage and upper level ready for renovations. Find additional 3 to 4 parking spots in courtyard that is located on 2-way ingress/egress street. Historic tax credits (federal and PA) may be available for qualified projects in this Historic District. This property has so much to offer! A Must See.

22. 2023-12-22
    status Pending 1116-char remark

    Show marketing remark (1116 chars)

    Welcome to this incredible Historic property located in popular Harrisburg City with stunning views of the Susquehanna River and walking distance from some of Harrisburg's finest dining/entertainment venues. Must see aerial pictures to truly appreciate the surrounding area! Enjoy views of City Island while being steps away from Front Street walking paths, annual festivals, 4th of July fireworks, and so much! Property is zoned Riverfront District (RF) and was previously a professional law office but certainly can be converted back to residential. Endless opportunity to convert/renovate into multiple units to allow new owner to live in one unit while renting the many other units. Conveniently located to major highways for easy commute in/out of the city limits. Very charming, detached Carriage house with 3 car garage and upper level ready for renovations. Find additional 3 to 4 parking spots in courtyard that is located on 2-way ingress/egress street. Historic tax credits (federal and PA) may be available for qualified projects in this Historic District. This property has so much to offer! A Must See.

23. 2023-11-20
    listed $645,000 Active 1116-char remark

    Show marketing remark (1116 chars)

    Welcome to this incredible Historic property located in popular Harrisburg City with stunning views of the Susquehanna River and walking distance from some of Harrisburg's finest dining/entertainment venues. Must see aerial pictures to truly appreciate the surrounding area! Enjoy views of City Island while being steps away from Front Street walking paths, annual festivals, 4th of July fireworks, and so much! Property is zoned Riverfront District (RF) and was previously a professional law office but certainly can be converted back to residential. Endless opportunity to convert/renovate into multiple units to allow new owner to live in one unit while renting the many other units. Conveniently located to major highways for easy commute in/out of the city limits. Very charming, detached Carriage house with 3 car garage and upper level ready for renovations. Find additional 3 to 4 parking spots in courtyard that is located on 2-way ingress/egress street. Historic tax credits (federal and PA) may be available for qualified projects in this Historic District. This property has so much to offer! A Must See.

24. 2023-07-12
    historical
25. 2023-01-13
    listed $695,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $133,764
• − Mortgage interest: −$55,735
• − Property taxes: −$14,925
• − Insurance: −$4,975
• − Repairs & maintenance: −$10,701
• − Management: −$10,701
• − Depreciation: −$28,945
• Taxable income: $7,781
• Est. tax owed @ 24.0%: −$1,867
• After-tax cash flow: $21,292/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 · 8 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its resale and rental value. The kitchen and bathrooms are in poor condition and need major updates, while the flooring and landscaping could be improved to enhance the home's appeal.

Repairs flagged

• Major Kitchen cabinets — The cabinets are outdated and in poor condition.
• Major Kitchen countertops — The countertops are outdated and in poor condition.
• Major Bathroom fixtures — The fixtures are outdated and in poor condition.
• Major Flooring — The flooring is in poor condition and needs replacement.

Value-add opportunities

• Resale Replace outdated kitchen cabinets and countertops — Updating the kitchen will significantly improve the home's appeal and value for potential buyers.
• Resale Replace outdated bathroom fixtures — Updating the bathrooms will improve the home's appeal and value for potential buyers.
• Both Replace flooring — Replacing the flooring will improve the home's appearance and increase its value for both resale and rental.
• Both Improve landscaping — Enhancing the landscaping will improve the home's curb appeal and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are outdated and in poor condition.	Major	$15,000–50,000
Kitchen countertops · The countertops are outdated and in poor condition.	Major	$15,000–50,000
Bathroom fixtures · The fixtures are outdated and in poor condition.	Major	$15,000–50,000
Flooring · The flooring is in poor condition and needs replacement.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Replace outdated kitchen cabinets and countertops — Updating the kitchen will significantly improve the home's appeal and value for potential buyers. ↑
• Resale Replace outdated bathroom fixtures — Updating the bathrooms will improve the home's appeal and value for potential buyers. ↑
• Both Replace flooring — Replacing the flooring will improve the home's appearance and increase its value for both resale and rental. ↑
• Both Improve landscaping — Enhancing the landscaping will improve the home's curb appeal and increase its value for both resale and rental. ↑

ⓘ 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: 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): 2,722
• Household income: $50,878
• Rent vs Own: 98.4% rent · 1.6% own
• Severe rent burden: 441.0

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 0.68)
• Race & ethnicity: White 49% Hispanic / Latino 20% Black 14% Asian 13% Two or more races 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 4% Serbian 2% Lithuanian 2%
• Foreign-born: 10% · South Korea, China
• Languages at home: 88% English-only · Korean 6% Spanish 2% Other Asian/Pacific 2%

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: ▼ -0.15%
• Current HPI: 153.5275
• Rent YoY: ▲ 0.96%
• 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

+43.2% since first listed

10 events — show timeline

• 2026-01-03 Price Changed $995,000 BRIGHT MLS
• 2026-01-03 Relisted — BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-11-17 Price Changed $1,210,500 BRIGHT MLS
• 2025-09-16 Listed $1,410,500 BRIGHT MLS
• 2024-08-06 Sold (MLS) $633,000 BRIGHT MLS
• 2023-12-22 Pending — BRIGHT MLS
• 2023-11-20 Listed $645,000 BRIGHT MLS
• 2023-07-12 Listing Removed — BRIGHT MLS
• 2023-01-13 Listed $695,000 BRIGHT MLS