Need some advice on an owner occupied

[Josh Eberly]

So I am from the central PA, and I am looking for a two or three unit property to be an owner occupied first investment in the York area. I have see quite a few properties and found one that looks great, and on paper looks like a great deal, but my biggest concern are the recent tax hikes within city lines.

The property is listed for 115,000 and has two 2 large two bedroom apartments. The one is occupied and rented at 780 a month and the first floor is vacant which i would occupy.

So assuming you could get 800 for the first unit, that would be roughly 19,000 income a year (not accounting for vacancy) The expenses are roughly 9,500 per year which leaves you with a 10,500 net income before your mortgage.

Here is the biggest draw, the taxes are 5 grand a year. The craziest part is the assessed value of the property is the same as comparable properties with a much bigger lot (this was a split lot) and have garages (which most people rent out in this neighborhood to contractors and small time handymen for extra income)

I really like the property, it has all updated windows, siding and a fairly new roof and utilities.

The units are very well maintained but also dated (80s styling)

I would not mind putting a few thousand into cosmetics, but with the taxes assessed i wouldnt want them going up significantly.

How would I go about getting the property reassessed? I can't see how a house on a half a lot with no garage is assessed for the same or higher than a brick three story home with a 2 car garage.

I really want to move on this as it has been the deal I have been looking for in my area.

Thanks and looking forward to learning as much as I can from this forum and the vast knowledge you all have!

Josh