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1031 Penn St, Reading, PA, 19601

$550,000

Home List Price

$6,531*

Closing Credit

0 Baths
6,000 SqFt
$92/SqFt
House

Location

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1031 Penn St, Reading$550,000

Buyer Closing Credits

$6,531*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingOn Street
Year Built1890
HeatingHot Water, Radiant
CoolingNone
MLS #PABK2051270
Lot Size0.18 Acres
StatusActive
(ACTIVE)

About 1031 Penn St

Unlock the potential of this versatile income-generating property! This package includes 8 residential units and a large garage, strategically located on the sought-after top block of Penn St, just steps from City Park. The property offers easy access to all urban conveniences, making it highly attractive for tenants. Built in 1890 and nestled within the historic Penns Common District, this property boasts a unique combination of historic charm and future growth potential. The offering includes: Main Building: 6 well-designed apartments showcasing original wood detailing. Additional Assets: 2 standalone homes and a large garage on Court St, offering flexible revenue streams. Prime Lot: A spacious parcel that spans the length of a full city block, connecting the buildings and providing outdoor potential. Currently, 5 of the 8 units are occupied by long-term tenants, ensuring immediate rental income while leaving room for value-add opportunities. With its blend of historic character and untapped potential, this property is ideal for the savvy investor looking to enhance portfolio performance.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1890
  • Living Area: 6,000 SqFt

Listing Office:

  • Office Name: RE/MAX Of Reading
  • Office Phone: (610) 670-2770
  • Listing Agent: Collier Golden

Interior Features

Interior Information:

  • Appliances: Refrigerator, Oven, Gas Range
  • Flooring Type: Carpet, Hardwood, Vinyl, Tile/Brick
  • Interior: Built-Ins, Carpet, Ceiling Fan(s), Entry Level Bedroom

Exterior Features

Exterior Information:

  • Exterior: Fire Escape, Sidewalks, Street Lights

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot: Level, Back Yard
  • Lot Size: 0.18 Acres

Utilities

Utilities Information:

  • Heating: Hot Water, Radiant
  • Cooling: None

Other

Directions Information:

  • Directions: From Center City Reading, drive up Penn St to last block before City Park

Municipality:

  • Reading City

Price Information

Listing Price Info

Price Summary:

  • List Price: $550,000
  • Price Per SqFt: $92/SqFt

Tax Information:

  • Annual Amount: $4,603
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Reading, PA.

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Reading, PA

City

Med. Sold Price

$247.8K

Med. Price/SqFt

$150

Avg. Days On Market

19

# of Sold Homes

171

1031 Penn St vs Reading

1 DAY ON ROCKET

-18 Days

$550,000

+$302.1K More

$92/SqFt

-$58 Less

KEY TAKEAWAY

This property is $302.1K more than the Median Sold Price and $58/SqFt less than other homes in Reading, PA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #PABK2051270

Listing Office:

  • Office Name: RE/MAX Of Reading
  • Office Phone: (610) 670-2770
  • Listing Agent: Collier Golden

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 3:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$4,603$105,300
2020$4,556$105,300
2019$4,556$105,300
2018$4,557$105,300
2017$4,527$105,300

History based on county public records data.

Payment Calculator

$2,813

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,715

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-174433
4
/10

  • 10th and Penn Elementary School

  • 955 Penn St

  • 0.09 miles

  • Public District Grades PK-4

school-card-donut-174434
4
/10

  • Amanda E. Stout Elementary School

  • 321 S 10th St

  • 0.39 miles

  • Public District Grades PK-4

school-card-donut-174435
4
/10

  • 10th and Green Elementary School

  • 400 N 10th St

  • 0.48 miles

  • Public District Grades PK-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $16,090. Most Reading, PA residents have annual incomes less than $35k. Most families are single, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1031 Penn St

What is the listing price of this property?

The listing price of 1031 Penn St property is $550,000.

What type of property is this?

The property 1031 Penn St is a house located in Reading, Pennsylvania, 19601.

Is this property for sale now?

Active Listing: 1031 Penn St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $4,603 (source: MLS/based on county public records data).

What is the square footage of this property?

The property 1031 Penn St is 6,000 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1031 Penn St is 1890.

Rocket Homes›Pennsylvania›Berks County›Reading›19601›1031 Penn St

This home is located at 1031 Penn St in Reading, PA and zip code 19601 in the Downtown / Central City neighborhood. This 6,000 square foot home, which was built in 1890, sits on a 0.18 acre lot. It has been listed on Rocket Homes since November 19, 2024 and is currently priced at $550,000.

Reading, PA housing market in October 2024 saw over 72 listings sold above listed price, more than 48 sold at listed price and over 51 sold below. The inventory of homes for sale in Reading, PA between September 2024 and October 2024 decreased by 8.9%. The median list price of listings available in October 2024 was $247,894, while the average time on the real estate market was 19 days.

From Rocket Homes Real Estate and based on county public records data.

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