123 E Water St Middletown, PA 17057
Estimated payment $1,119/month
About This Home
Investor’s Dream! This well-maintained two-unit property in the heart of Middletown offers strong cash flow and long-term upside. Each unit is currently leased to excellent, long-term tenants on a month-to-month basis, providing flexibility for future owner-occupancy or rental increases.
The top and bottom units total 1,460 sq ft, with the upstairs unit renting for $775/month and the downstairs for $660/month—both well below market value with potential to increase by several hundred dollars each.
Each unit has separate electric and heat, and the property features natural gas hot water. Tenants take great care of the home, making this a low-maintenance, income-producing opportunity.
Whether you're looking to grow your rental portfolio or live in one unit and rent the other, this property offers versatility and value.
See MLS documents for copies of both leases. Don’t miss this opportunity—schedule your showing today!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,682
Year Built
- Built in 1900
Lot Details
- 3,485 Sq Ft Lot
Parking
- On-Street Parking
Home Design
- 1,460 Sq Ft Home
- Duplex
- Victorian Architecture
- Brick Exterior Construction
- Block Foundation
Schools
- Middletown Area
- Middletown Area High School
Utilities
- Electric Baseboard Heater
- Natural Gas Water Heater
- Cable TV Available
Community Details
- 2 Units
- 2-Story Building
Listing and Financial Details
- Assessor Parcel Number 42-037-059-000-0000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,682 | $60,500 | $16,200 | $44,300 |
| 2024 | $2,536 | $60,500 | $16,200 | $44,300 |
| 2023 | $2,494 | $60,500 | $16,200 | $44,300 |
| 2022 | $2,403 | $60,500 | $16,200 | $44,300 |
| 2021 | $2,304 | $60,500 | $16,200 | $44,300 |
| 2020 | $2,250 | $60,500 | $16,200 | $44,300 |
| 2019 | $2,218 | $60,500 | $16,200 | $44,300 |
| 2018 | $2,097 | $60,500 | $16,200 | $44,300 |
| 2017 | $2,097 | $60,500 | $16,200 | $44,300 |
| 2016 | $0 | $60,500 | $16,200 | $44,300 |
| 2015 | -- | $60,500 | $16,200 | $44,300 |
| 2014 | -- | $60,500 | $16,200 | $44,300 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/28/2025 08/28/25 | Pending | -- | -- | -- |
| 08/28/2025 08/28/25 | Price Changed | $165,500 | -8.1% | $113 / Sq Ft |
| 08/18/2025 08/18/25 | Price Changed | $180,000 | -2.2% | $123 / Sq Ft |
| 07/14/2025 07/14/25 | Price Changed | $184,000 | -0.5% | $126 / Sq Ft |
| 06/12/2025 06/12/25 | For Sale | $185,000 | -- | $127 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $102,000 | -- | |
| Deed | $81,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $86,582 | FHA | |
| Closed | $101,200 | New Conventional | |
| Previous Owner | $65,200 | New Conventional |
Source: Bright MLS
MLS Number: PADA2046420
APN: 42-037-059
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