211 Fourth St W · Waynesboro, PA 17268

$144,500

2 bd · 1.0 ba · 1,212 sqft · Other · 37 Days on market

Built 1908

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Why this score? — see what drove the D 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 +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

Key facts

• Renovated
• New kitchen
• Updated

Tags

• UPDATED
• RENOVATED
• NEW WINDOWS
• NEW FLOORING
• NEW PAINT
• NEW KITCHEN

Property features AI

Finance

• Financial info: Property managed by a property manager; Fee simple ownership; Property condition listed as very good; Total actual rent reported as $11,400

Exterior

• Parking: Driveway and off-street parking (4 spaces); Alley access
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Semi-detached; Vinyl siding; Architectural shingle roof
• Construction: Vinyl siding construction; Architectural shingle roof; Other foundation; Above-grade other structures
• Exterior features: No tidal water

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: 2 bedrooms on the upper level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Oil-fired heating
• Interior features: Unfinished basement; Estimated living area; Double-pane, energy-efficient, insulated replacement windows with vinyl-clad frames
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $144k.

Deal economics

• At list price, monthly cash flow is $61 ($736/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (16.1% below list).
• Recommended offer: $121k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.8% in Waynesboro — 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 78/100 on livability (#280 in PA, #2,482 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, commute F.
• Waynesboro Area SD (town): math 36% / reading 52% proficiency, ranked #283 of 539 in PA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 230 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $999 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 11y ago; this cycle's ask is 15111% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,213 (16.1% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-19,552
• Equity at exit: $21,545

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-12,174
• Equity at exit: $12,494

Cash invested: $40,460 (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 17268

• Active inventory: 230
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$758
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $61

Break-even live

Break-even rent $1,134

Max offer price $144,500

Occupancy floor 90%

Sensitivity live

Price	-10% $143	-5% $102	+0% $61	+5% $20	+10% $-20
Rent	-10% $-34	-5% $13	+0% $61	+5% $109	+10% $157
Rate	-1.0pp $134	-0.5pp $98	base $61	+0.5pp $24	+1.0pp $-14

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: $36,125
• Closing costs: $4,335
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 W 5th St Waynesboro, PA	1.0	1.0	900	$970	$1.08	14d	1	0.10mi
228 Ridge Ave Waynesboro, PA	3.0	1.0	1300	$1,500	$1.15	44d	1	0.21mi
36 S Church St Unit C Waynesboro, PA	1.0	1.0	900	$995	$1.11	44d	1	0.44mi
50 E North St Unit 2 Waynesboro, PA	2.0	1.0	750	$1,080	$1.44	14d	1	0.70mi

Listing history 47 events

1. 2026-06-17
   days on market $144,500 Active 37 DOM
2. 2026-06-16
   days on market $144,500 Active 36 DOM
3. 2026-06-15
   days on market $144,500 Active 35 DOM
4. 2026-06-14
   days on market $144,500 Active 33 DOM
5. 2026-06-13
   days on market $144,500 Active 32 DOM
6. 2026-06-10
   days on market $144,500 Active 30 DOM
7. 2026-06-09
   days on market $144,500 Active 29 DOM
8. 2026-06-08
   days on market $144,500 Active 28 DOM
9. 2026-06-07
   days on market $144,500 Active 27 DOM
10. 2026-06-05
    days on market $144,500 Active 24 DOM
11. 2026-06-03
    days on market $144,500 Active 23 DOM
12. 2026-06-02
    days on market $144,500 Active 22 DOM
13. 2026-06-01
    days on market $144,500 Active 21 DOM
14. 2026-05-31
    days on market $144,500 Active 20 DOM
15. 2026-05-30
    days on market $144,500 Active 19 DOM
16. 2026-05-18
    price $144,500 321-char remark
17. 2026-05-11
    listed $149,900 Active 321-char remark
18. 2025-04-27
    historical $950
19. 2025-04-12
    listed $950
20. 2024-04-18
    historical $950
21. 2024-04-16
    historical
22. 2024-04-11
    listed $149,900 Active
23. 2024-04-10
    listed $950
24. 2024-04-10
    historical $950
25. 2024-03-19
    listed $950
26. 2024-03-18
    soldstatus $110,000
27. 2024-03-15
    soldstatus $109,900 Closed

    Show marketing remark (254 chars)

    Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

28. 2024-02-13
    historical Active Under Contract

    Show marketing remark (254 chars)

    Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

29. 2024-02-13
    status Active

    Show marketing remark (254 chars)

    Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

30. 2024-02-07
    historical Active Under Contract

    Show marketing remark (254 chars)

    Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

31. 2024-01-29
    listed $119,900 Active

    Show marketing remark (254 chars)

    Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

32. 2024-01-28
    historical $119,900

    Show marketing remark (254 chars)

    Charming 2 bedroom, one full bath half duplex conveniently located in Waynesboro, PA. Perfect for first time home buyers or savvy investors! Updated kitchen, replacement windows, washer/dryer hookups on main level, off-street parking, and a lovely yard!

33. 2021-12-17
    historical
34. 2021-10-03
    price $110,000
35. 2021-08-12
    listed $115,000 Active
36. 2016-07-20
    soldstatus $54,000
37. 2016-07-19
    soldstatus $54,000
38. 2016-07-19
    soldstatus $54,000 Sold
39. 2016-06-23
    status Contract
40. 2016-05-09
    status Active
41. 2016-04-19
    status Contract
42. 2016-04-01
    listed $59,900 Active
43. 2016-01-07
    soldstatus $17,000
44. 2016-01-07
    soldstatus $17,000 Sold
45. 2015-12-08
    status Contract
46. 2015-11-25
    price $25,000
47. 2015-11-13
    listed $39,900 Active

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $1,611 · $134/mo
• Expected delta: +$672/yr (+$56/mo · 71.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,546
• − Mortgage interest: −$8,094
• − Property taxes: −$939
• − Insurance: −$722
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$4,204
• Taxable loss: −$1,741
• Est. tax savings @ 24.0%: +$418
• After-tax cash flow: $1,154/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: Waynesboro Area SD
• NCES district ID: 4225110
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 52% ▼ -15.00%
• Median HH income: $50,445
• Composite: 37.79/100
• National rank: #4342
• State rank: #283 of 539 in PA

Livability — Waynesboro

• Score: 78/100
• State rank: #280
• US rank: #2482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynesboro, PA
• County: Franklin County · 56,916 people
• City population: 29,362
• Metro: Chambersburg-Waynesboro, PA
• Population (ZIP): 29,362
• Household income: $73,161
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 539.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 157,827 people
• By 2030: 158,933 · +0.7%
• By 2040: 159,060 · +0.8%
• By 2050: 155,132 · -1.7%
• By 2075: 138,545 · -12.2%
• By 2100: 112,321 · -28.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+43.0) · D 28.1% · R 71.1%
• 2008→2024 swing: -10.4pp toward R · 2008: -32.6pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+43.1 2016: R+46.5 2012: R+38.5 2008: R+32.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.20%
• Current HPI: 189.6931
• Rent YoY: —
• Metro: Chambersburg-Waynesboro, 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

+262.2% since first listed

35 events — show timeline

• 2026-06-17 Listing Removed — BRIGHT MLS
• 2026-06-14 Rental Removed $950 APPFOLIO
• 2026-05-20 Listed for Rent $950 APPFOLIO
• 2026-05-18 Price Changed $144,500 BRIGHT MLS
• 2026-05-11 Listed $149,900 BRIGHT MLS
• 2025-04-27 Rental Removed $950 APPFOLIO
• 2025-04-12 Listed for Rent $950 APPFOLIO
• 2024-04-18 Rental Removed $950 APPFOLIO
• 2024-04-16 Listing Removed — BRIGHT MLS
• 2024-04-11 Listed $149,900 BRIGHT MLS
• 2024-04-10 Listed for Rent $950 APPFOLIO
• 2024-04-10 Rental Removed $950 APPFOLIO
• 2024-03-19 Listed for Rent $950 APPFOLIO
• 2024-03-18 Sold (Public Records) $110,000 Public Records
• 2024-03-15 Sold (MLS) $109,900 BRIGHT MLS
• 2024-02-13 Contingent — BRIGHT MLS
• 2024-02-13 Relisted — BRIGHT MLS
• 2024-02-07 Contingent — BRIGHT MLS
• 2024-01-29 Listed $119,900 BRIGHT MLS
• 2024-01-28 Coming Soon $119,900 BRIGHT MLS
• 2021-12-17 Listing Removed — BRIGHT MLS
• 2021-10-03 Price Changed $110,000 BRIGHT MLS
• 2021-08-12 Listed $115,000 BRIGHT MLS
• 2016-07-20 Sold (Public Records) $54,000 Public Records
• 2016-07-19 Sold (MLS) $54,000 MRIS
• 2016-07-19 Sold (MLS) $54,000 BRIGHT MLS
• 2016-06-23 Pending — MRIS
• 2016-05-09 Relisted — MRIS
• 2016-04-19 Pending — MRIS
• 2016-04-01 Listed $59,900 MRIS
• 2016-01-07 Sold (MLS) $17,000 MRIS
• 2016-01-07 Sold (MLS) $17,000 BRIGHT MLS
• 2015-12-08 Pending — MRIS
• 2015-11-25 Price Changed $25,000 MRIS
• 2015-11-13 Listed $39,900 MRIS

Property tax history

+10.1%/yr

Latest (2026): $939 · +0.0% YoY. Source: county tax records.