150 S S Price Ave · Waynesboro, PA 17268

$179,000

3 bd · 3.0 ba · 1,920 sqft · Other · 22 Days on market

Built 1990 5,663 sqft lot $93/sqft · 37% below area Est $284k · 37% under $15/mo HOA · 1% of rent ↓ 21% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * Investor Alert * * * One Owner, 1920 square feet, 3 bedroom 3 bathroom brick townhouse in Cold Springs Estates. This house needs some tender loving care for it to be restored to its natural beauty. Bones are good! The Main level offers a living room, kitchen, dining area, and a 1/2 bath. The Upstairs has 3 bedrooms, including an over sized master suite in the rear, full bathroom, and an upper level laundry. The lower level has a finished family room, 1/2 bath, extra storage room, as well as a 1 car garage. Repairs include but are not limited to, paint, flooring, kitchen repair, bathroom remodel, mold remediation, etc. Home is being sold as is, Take caution when entering, visible

Key facts

• $15 HOA
• Garage
• Built 1990

Property features AI

Finance

• Other: Ownership is fee simple; No pet restrictions
• HOA & community: HOA fee of $180 paid annually

Exterior

• Parking: Attached front-entry garage (1 car)
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: End of row townhouse; Vinyl siding exterior; Entry faces front
• Construction: Slab foundation; Year built per assessor
• Exterior features: Not in a federal flood zone; Ground rent paid annually; Municipal trash service

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms (both on the upper level); Two half bathrooms (one on main level, one on lower level)
• Heating & cooling: 90% forced air heating with natural gas fuel; Heat pump with gas backup; Central air conditioning (electric); Electric hot water
• Interior features: Full basement (50% finished); Basement footprint covers the entire house; Estimated living area above grade

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $179k.

Deal economics

• At list price, monthly cash flow is $28 ($336/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 $171k (4.5% below list).
• Recommended offer: $171k (4.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,891 (4.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 8.7

CMA / ARV

• ARV (median comp): $284,332
• List price: $179,000
• Delta: -37.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-27,145
• Equity at exit: $26,689

10-year hold

• IRR: -6.5%
• Equity multiple: 0.58×
• Total profit: $-21,024
• Equity at exit: $15,477

Cash invested: $50,120 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,709 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$294 /mo · $3,525/yr
• Insurance: −$75
• HOA: −$15
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $28

Break-even live

Break-even rent $1,673

Max offer price $179,000

Occupancy floor 93%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Ridge Ave Waynesboro, PA	3.0	1.0	1300	$1,500	$1.15	43d	1	0.29mi
230 W 2nd St Unit A Waynesboro, PA	2.0	2.0	2000	$1,200	$0.60	43d	1	0.44mi
457 Frick Ave Waynesboro, PA	3.0	2.5	2193	$2,200	$1.00	21d	1	0.57mi
23 Philadelphia Ave Waynesboro, PA	3.0	3.0	1985	$2,200	$1.11	43d	1	0.67mi

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 3 events

1. 2026-05-15
   status Pending 807-char remark
2. 2026-05-11
   price $179,000 807-char remark
3. 2026-04-23
   listed $189,000 Active 807-char remark

ⓘ 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: $3,525 · $294/mo
• Projected year-2 tax: $3,525 · $294/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 18 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: $20,507
• − Mortgage interest: −$10,027
• − Property taxes: −$3,525
• − Insurance: −$895
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − HOA: −$180
• − Depreciation: −$5,207
• Taxable loss: −$2,608
• Est. tax savings @ 24.0%: +$626
• After-tax cash flow: $962/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: 50,348
• 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

-20.6% since first listed

5 events — show timeline

• 2026-06-02 Sold (Public Records) $150,000 Public Records
• 2026-06-01 Sold (MLS) $150,000 BRIGHT MLS
• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-11 Price Changed $179,000 BRIGHT MLS
• 2026-04-23 Listed $189,000 BRIGHT MLS

Property tax history

+10.1%/yr

Latest (2026): $3,525 · +0.0% YoY. Source: county tax records.