1996 Park Plz · Manheim, PA 17601

$300,000

3 bd · 1.5 ba · 2,442 sqft · SingleFamily public records · 14 Days on market

Built 1947 0.51 ac lot Est $520k · 42% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +3.5/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property will be offered at Public Auction on Tuesday, June 30, 2026 @ 6pm. The listing price is the opening bid only and in no way reflects the final sale price. 10% down due at auction, 2% transfer tax to be paid by the purchaser, real estate taxes prorated. This spacious three-bedroom home offers a well-designed layout with generous living spaces throughout. The main floor features an eat-in kitchen, formal dining room, convenient powder room, and a large family room highlighted by a cozy fireplace. An additional oversized great room with beautiful brick flooring provides the perfect space for entertainment, gatherings, or relaxing. The second floor includes three bedrooms, includin

Key facts

• 0.51 acre lot
• Garage
• Built 1947

Property features AI

Finance

• Other: Fee simple ownership; Total below-grade area listed as 2442 (source: assessor); Above-grade finished area listed as 2,442 (source: assessor); Below-grade unfinished area listed as 2,442 (estimated)

Exterior

• Parking: Detached garage (front entry) with 1 garage space; Driveway with 2 parking spaces; Total of 3 garage/parking spaces
• Utilities: Public water; Public sewer; Municipal trash service
• Home design: Detached property; Below average condition
• Construction: Frame, brick and masonry construction; Composite/shingle roof; Permanent foundation; Garage(s); Above-grade and below-grade structures; Year built per assessor
• Exterior features: Not located in a federal flood zone; 2+ access exits

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom (upper level); One half bathroom (main level)
• Heating & cooling: Forced air heating; Oil-fired heating; Electric hot water
• Interior features: Attic; Formal separate dining room; Eat-in kitchen; Walk-in closet(s); Basement laundry
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (14.0% below list).
• Recommended offer: $258k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 1.5% in Manheim — 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 79/100 on livability (#236 in PA, #2,155 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, commute F.
• Manheim Township SD (suburban): math 53% / reading 68% proficiency, ranked #61 of 539 in PA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Manheim Twp Ms (math 34% / reading 63%, grade C-, #146 of 512 statewide, top 30%, 955 students, 32% FRL).
• Zoned-school proficiency averages 48% at this address vs 60% district-wide (-12 pts) — the specific schools serving this property underperform the Manheim Township SD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+4.0%/yr); 321 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• This rent runs 30% of the median local income ($102k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $258,059 (14.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1947 — 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: 0.86% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $520,146
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1980 Park Plz	0.12mi	3/2.0	2,321 (-5%)	8mo	$430,000	$185	77
1821 Santa Barbara Dr	0.27mi	3/2.5	2,382 (-2%)	4mo	$450,000	$189	76
2012 Melody Ln	0.34mi	4/2.5 (+1)	2,341 (-4%)	2mo	$615,000	$263	66
41 Hess Blvd	0.48mi	3/2.0	2,412 (-1%)	12mo	$503,500	$209	64
406 Teddy Ave	0.63mi	4/2.5 (+1)	2,464 (+1%)	4mo	$503,000	$204	57
340 Primrose Ave	0.45mi	4/2.5 (+1)	2,650 (+8%)	2mo	$415,000	$157	55
435 Primrose Ave	0.61mi	3/2.5	2,331 (-4%)	9mo	$507,000	$218	53
409 Rhoda Dr	0.55mi	4/2.5 (+1)	2,518 (+3%)	10mo	$580,000	$230	52
1958 Geraldson Dr	0.49mi	4/2.5 (+1)	2,268 (-7%)	7mo	$350,000	$154	50
1863 Harrington Dr	0.73mi	4/2.5 (+1)	2,535 (+4%)	3mo	$540,000	$213	48
1916 Geraldson Dr	0.40mi	4/2.5 (+1)	2,126 (-13%)	6mo	$525,000	$247	46
316 Primrose Ave	0.37mi	4/2.5 (+1)	2,087 (-14%)	11mo	$526,500	$252	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.99% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-52,307
• Equity at exit: $44,731

10-year hold

• IRR: -7.7%
• Equity multiple: 0.49×
• Total profit: $-42,558
• Equity at exit: $25,939

Cash invested: $84,000 (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 17601

• Rents YoY: 4.0%
• Active inventory: 321
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,581 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$440 /mo · $5,285/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $-100

Break-even live

Break-even rent $2,707

Max offer price $282,336

Occupancy floor 99%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Hedgerow Ln Lancaster, PA	4.0	2.5	1834	$2,900	$1.58	43d	1	0.61mi
2686 Lititz Pike Lancaster, PA	4.0	3.0	1700	$2,575	$1.51	23d	1	1.46mi

Listing history 12 events

1. 2026-06-18
   days on market $300,000 Coming Soon 14 DOM
2. 2026-06-17
   days on market $300,000 Coming Soon 13 DOM
3. 2026-06-16
   days on market $300,000 Coming Soon 12 DOM
4. 2026-06-15
   days on market $300,000 Coming Soon 11 DOM
5. 2026-06-14
   days on market $300,000 Coming Soon 9 DOM
6. 2026-06-13
   days on market $300,000 Coming Soon 8 DOM
7. 2026-06-10
   days on market $300,000 Coming Soon 6 DOM
8. 2026-06-09
   days on market $300,000 Coming Soon 5 DOM
9. 2026-06-08
   days on market $300,000 Coming Soon 4 DOM
10. 2026-06-07
    days on market $300,000 Coming Soon 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $300,000 Coming Soon 1 DOM

ⓘ 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: $5,285 · $440/mo
• Projected year-2 tax: $5,285 · $440/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 ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,967
• − Mortgage interest: −$16,805
• − Property taxes: −$5,285
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,477
• − Management: −$2,477
• − Depreciation: −$8,727
• Taxable loss: −$6,305
• Est. tax savings @ 24.0%: +$1,513
• After-tax cash flow: $313/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: Manheim Township SD
• NCES district ID: 4214580
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 68% ▼ -11.00%
• Median HH income: $68,335
• Composite: 53.18/100
• National rank: #1506
• State rank: #61 of 539 in PA

Livability — Manheim

• Score: 79/100
• State rank: #236
• US rank: #2155

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

• County: Lancaster County · 390,309 people
• City population: 23,556
• Metro: Lancaster, PA
• Population (ZIP): 56,382
• Household income: $102,435
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1296.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 561,011 people
• By 2030: 570,969 · +1.8%
• By 2040: 585,929 · +4.4%
• By 2050: 591,056 · +5.4%
• By 2075: 594,747 · +6.0%
• By 2100: 558,850 · -0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 7% Asian 6% Black 4%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Lancaster

• 2024 margin: R (+15.9) · D 41.5% · R 57.5%
• 2008→2024 swing: -4.1pp toward R · 2008: -11.8pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.8 2016: R+19.7 2012: R+19.2 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -383.04%
• Current HPI: 257.0336
• Rent YoY: ▲ 3.99%
• Metro: Lancaster, 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

1 event — show timeline

• 2026-06-04 Coming Soon $300,000 BRIGHT MLS

Property tax history

+2.5%/yr

Latest (2026): $5,285 · +6.5% YoY. Source: county tax records.