606 Wise Ave · Red Lion, PA 17356

$205,000

3 bd · 2.0 ba · 1,456 sqft · MultiFamily public records · 3 Days on market

Built 1940 4,791 sqft lot $141/sqft · 20% above area Est $204k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.3/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

* Due to COVID-19 and Governor Wolfs mandate we are not permitted to have in person showings at this time. Please consult your Realtor for more information. Affordable living in this cute Semi-detached home located in Red Lion Boro on a quiet side street. Home is larger than it appears with over 1700 square feet above grade. You will fall in love with the huge kitchen at the rear of the home featuring a great country vibe with painted wood cabinets, built in shelves, pantry and large center island. Kitchen is the heart of this home and is perfectly located in the back of the house and opens up to fenced backyard and detached garage. Main floor features a full bath, large living room and dining area. Second floor with three nice size bedrooms and a full bath. This home just screams cute with Wood floors throughout and built in shelves offering plenty of character to make this place seem like home sweet home. Sellers have solar panels installed for great energy savings. Virtual tour available!

Key facts

• Garage
• Built 1940
• Listed 3 days

Property features AI

Exterior

• Parking: Detached garage (1 car); On-street parking; Garage includes additional storage area
• Utilities: Public water; Public sewer; Natural gas for heating and hot water
• Home design: Semi-detached property; Very good condition; Fee simple ownership; Estimated year built
• Construction: Vinyl siding; Shingle roof; Brick/mortar foundation; Replacement windows; Above-grade and below-grade structures
• Exterior features: Deck(s); Porch(es); Wood privacy fencing; PV solar array(s) owned; Shed; Garage(s)

Interior

• Kitchen: Built-in microwave; Dishwasher; Gas oven/range; Refrigerator; Stainless steel appliances
• Bedrooms: Three bedrooms on the upper level
• Flooring: Wood flooring; Tile/brick flooring
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Hot water baseboard heating (natural gas); Window air conditioning units
• Interior features: Attic; Combination dining and living area; Ceiling fans; Wood floors; Storm door(s)
• Laundry & utility: Washer; Gas dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Cap rate 12.5% vs local median 4.5% in Red Lion — 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 77/100 on livability (#349 in PA, #3,056 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Red Lion Area SD (suburban): math 36% / reading 50% proficiency, ranked #282 of 539 in PA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant View El Sch (math 33% / reading 53%, grade F, #873 of 1,518 statewide, top 58%, 453 students, 49% FRL); Red Lion Area Shs (math 63% / reading 24%, grade F, #211 of 437 statewide, top 48%, 1,432 students, 44% FRL) — zoned schools average 46% FRL vs 28% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).
• This rent runs 43% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 12.48%
• Cash-on-cash: 22.09%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $204,301
• List price: $205,000
• Delta: 0.34%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.8%
• Equity multiple: 1.59×
• Total profit: $34,139
• Equity at exit: $30,566

10-year hold

• IRR: 23.6%
• Equity multiple: 3.03×
• Total profit: $116,590
• Equity at exit: $17,725

Cash invested: $57,400 (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 17356

• Home prices YoY: -21.0%
• Active inventory: 147
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,129 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$255 /mo · $3,055/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $1,057

Break-even live

Break-even rent $1,791

Max offer price $205,000

Occupancy floor 61%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,130
Total (2 units)			$3,129

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 E Lancaster St Red Lion, PA	2.0	1.0	900	$1,295	$1.44	44d	1	0.48mi
305 W Broadway Red Lion, PA	2.0	1.0	968	$1,395	$1.44	44d	1	0.70mi
16 W High St Red Lion, PA	3.0	1.0	1075	$1,075	$1.00	21d	1	0.82mi
705 Country Club Rd Red Lion, PA	3.0	2.5	1660	$1,695	$1.02	44d	1	1.01mi
703 Country Club Rd Red Lion, PA	3.0	2.5	1540	$1,795	$1.17	44d	1	1.01mi
201 Burrows Rd Red Lion, PA	3.0	2.5	1485	$1,924	$1.30	14d	1	1.37mi

Listing history 13 events

1. 2026-05-04
   status Pending 1169-char remark
2. 2026-05-02
   listed $205,000 Active 1169-char remark
3. 2026-04-28
   historical $205,000 1169-char remark
4. 2020-07-29
   soldstatus $135,000
5. 2020-07-27
   soldstatus $135,000 Closed 1013-char remark

   Show marketing remark (1013 chars)

   * Due to COVID-19 and Governor Wolfs mandate we are not permitted to have in person showings at this time. Please consult your Realtor for more information. Affordable living in this cute Semi-detached home located in Red Lion Boro on a quiet side street. Home is larger than it appears with over 1700 square feet above grade. You will fall in love with the huge kitchen at the rear of the home featuring a great country vibe with painted wood cabinets, built in shelves, pantry and large center island. Kitchen is the heart of this home and is perfectly located in the back of the house and opens up to fenced backyard and detached garage. Main floor features a full bath, large living room and dining area. Second floor with three nice size bedrooms and a full bath. This home just screams cute with Wood floors throughout and built in shelves offering plenty of character to make this place seem like home sweet home. Sellers have solar panels installed for great energy savings. Virtual tour available!

6. 2020-05-20
   status Pending 1013-char remark

   Show marketing remark (1013 chars)

   * Due to COVID-19 and Governor Wolfs mandate we are not permitted to have in person showings at this time. Please consult your Realtor for more information. Affordable living in this cute Semi-detached home located in Red Lion Boro on a quiet side street. Home is larger than it appears with over 1700 square feet above grade. You will fall in love with the huge kitchen at the rear of the home featuring a great country vibe with painted wood cabinets, built in shelves, pantry and large center island. Kitchen is the heart of this home and is perfectly located in the back of the house and opens up to fenced backyard and detached garage. Main floor features a full bath, large living room and dining area. Second floor with three nice size bedrooms and a full bath. This home just screams cute with Wood floors throughout and built in shelves offering plenty of character to make this place seem like home sweet home. Sellers have solar panels installed for great energy savings. Virtual tour available!

7. 2020-05-12
   listed $135,000 Active 1013-char remark

   Show marketing remark (1013 chars)

   * Due to COVID-19 and Governor Wolfs mandate we are not permitted to have in person showings at this time. Please consult your Realtor for more information. Affordable living in this cute Semi-detached home located in Red Lion Boro on a quiet side street. Home is larger than it appears with over 1700 square feet above grade. You will fall in love with the huge kitchen at the rear of the home featuring a great country vibe with painted wood cabinets, built in shelves, pantry and large center island. Kitchen is the heart of this home and is perfectly located in the back of the house and opens up to fenced backyard and detached garage. Main floor features a full bath, large living room and dining area. Second floor with three nice size bedrooms and a full bath. This home just screams cute with Wood floors throughout and built in shelves offering plenty of character to make this place seem like home sweet home. Sellers have solar panels installed for great energy savings. Virtual tour available!

8. 2013-06-28
   soldstatus $117,000
9. 2012-12-05
   soldstatus $61,000
10. 2012-12-02
    soldstatus $61,000

    Show marketing remark (113 chars)

    Lovely home on quiet street in Red Lion Boro - 2 bath-1 car garage - 1st floor bath - large living room must see.

11. 2012-09-30
    historical

    Show marketing remark (113 chars)

    Lovely home on quiet street in Red Lion Boro - 2 bath-1 car garage - 1st floor bath - large living room must see.

12. 2012-05-30
    listed $69,000

    Show marketing remark (113 chars)

    Lovely home on quiet street in Red Lion Boro - 2 bath-1 car garage - 1st floor bath - large living room must see.

13. 1996-12-03
    soldstatus $70,900

ⓘ 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: $3,055 · $255/mo
• Projected year-2 tax: $3,147 · $262/mo
• Expected delta: +$92/yr (+$8/mo · 3.0%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,548
• − Mortgage interest: −$11,483
• − Property taxes: −$3,055
• − Insurance: −$1,025
• − Repairs & maintenance: −$3,004
• − Management: −$3,004
• − Depreciation: −$5,964
• Taxable income: $10,013
• Est. tax owed @ 24.0%: −$2,403
• After-tax cash flow: $10,279/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: Red Lion Area SD
• NCES district ID: 4220100
• Math proficiency: 36% ▼ -10.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,225
• Composite: 37.91/100
• National rank: #4313
• State rank: #282 of 539 in PA

Livability — Red Lion

• Score: 77/100
• State rank: #349
• US rank: #3056

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Lion, PA
• County: York County · 278,806 people
• City population: 22,869
• Metro: York-Hanover, PA
• Population (ZIP): 22,869
• Household income: $86,561
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 559.0

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 4% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 3% Serbian 2%
• Foreign-born: 4% · China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Chinese 1% Other Indo-European 1%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.16%
• Current HPI: 259.7294
• Rent YoY: —
• Metro: York-Hanover, 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

+224.4% since first listed

14 events — show timeline

• 2026-05-29 Sold (MLS) $230,000 BRIGHT MLS
• 2026-05-04 Pending — BRIGHT MLS
• 2026-05-02 Listed $205,000 BRIGHT MLS
• 2026-04-28 Coming Soon $205,000 BRIGHT MLS
• 2020-07-29 Sold (Public Records) $135,000 Public Records
• 2020-07-27 Sold (MLS) $135,000 BRIGHT MLS
• 2020-05-20 Pending — BRIGHT MLS
• 2020-05-12 Listed $135,000 BRIGHT MLS
• 2013-06-28 Sold (Public Records) $117,000 Public Records
• 2012-12-05 Sold (Public Records) $61,000 Public Records
• 2012-12-02 Sold (MLS) $61,000 BRIGHT MLS
• 2012-09-30 Listing Removed — BRIGHT MLS
• 2012-05-30 Listed $69,000 BRIGHT MLS
• 1996-12-03 Sold (Public Records) $70,900 Public Records

Property tax history

+1.5%/yr

Latest (2026): $3,055 · +9.0% YoY. Source: county tax records.