148 2nd · McSherrystown, PA 17344

$132,370

3 bd · 1.0 ba · 1,318 sqft · Other public records · 14 Days on market

Built 1985 3,920 sqft lot $100/sqft · 46% below area Est $245k · 46% under

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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).

• Cash flow +18.3/30.0
• ARV discount +15.0/15.0
• 1% rule +5.7/10.0
• DSCR +5.7/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Home sold as is, seller will do no repairs. Home is occupied, do not contact occupant for entrance. Home will need TLC. Nice 3 bedroom, 1 bath home in McSherrystown Boro. Close to shopping, schools and banks. Do not contact the occupant.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1985

Property features AI

Finance

• Other: Total below-grade area 575 (unfinished per assessor); Above-grade finished area per assessor
• Financial info: Fee simple ownership

Exterior

• Parking: Detached rear-entry garage (1 car)
• Utilities: Public water; Public sewer; Electric service available
• Home design: Detached property
• Construction: Vinyl siding; Unknown roof; Other foundation details; Building not winterized; Built year per assessor
• Exterior features: Lot approximately 0.09 acres; Not in a federal flood zone; Other above-grade and below-grade structures

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Forced air heating; Natural gas fuel; Electric hot water
• Interior features: Basement with dirt floor; Living room; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $132k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $132k).

Location & tenants

• Location reads 67/100 on livability (#1,000 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Conewago Valley SD (suburban): math 39% / reading 56% proficiency, ranked #215 of 539 in PA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 403 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $916 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Adams County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $132k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,370

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.07% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

• ARV (median comp): $245,029
• List price: $132,370
• Delta: -41.28%
• 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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-13,735
• Equity at exit: $19,737

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-1,828
• Equity at exit: $11,445

Cash invested: $37,064 (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 17344

• Home prices YoY: -18.5%
• Active inventory: 11
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$694
• Tax from tax record: −$246 /mo · $2,957/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $120

Break-even live

Break-even rent $1,260

Max offer price $132,370

Occupancy floor 86%

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: $33,092
• Closing costs: $3,971
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
65 North St Apt 62 McSherrystown, PA	2.0	1.0	1000	$1,350	$1.35	43d	1	0.25mi
65 North St Unit 88 McSherrystown, PA	2.0	1.0	1000	$1,425	$1.43	13d	1	0.25mi
65 North St Apt 81 McSherrystown, PA	2.0	1.0	1150	$1,495	$1.30	43d	1	0.25mi
612 Maple Ave Hanover, PA	2.0	2.0	900	$1,295	$1.44	13d	1	0.95mi
607 3rd St Hanover, PA	3.0	1.0	1276	$1,400	$1.10	21d	1	0.96mi
285 South St Hanover, PA	3.0	1.5	1000	$1,350	$1.35	13d	1	1.11mi

Listing history 13 events

1. 2026-06-18
   days on market $132,370 Active 14 DOM
2. 2026-06-17
   days on market $132,370 Active 13 DOM
3. 2026-06-16
   days on market $132,370 Active 12 DOM
4. 2026-06-15
   days on market $132,370 Active 11 DOM
5. 2026-06-14
   days on market $132,370 Active 9 DOM
6. 2026-06-13
   days on market $132,370 Active 8 DOM
7. 2026-06-10
   pricedays on market $132,370 Active 6 DOM
8. 2026-06-09
   days on market $143,880 Active 5 DOM
9. 2026-06-08
   days on market $143,880 Active 4 DOM
10. 2026-06-07
    remarks 237-char remark
11. 2026-06-07
    days on marketlisting id $143,880 Active 3 DOM
12. 2026-04-25
    listed $143,880 Active 208-char remark
13. 1995-02-21
    soldstatus $65,000

ⓘ 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: $2,957 · $246/mo
• Projected year-2 tax: $2,957 · $246/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 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,948
• − Mortgage interest: −$7,415
• − Property taxes: −$2,957
• − Insurance: −$662
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$3,851
• Taxable loss: −$648
• Est. tax savings @ 24.0%: +$156
• After-tax cash flow: $1,596/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: Conewago Valley SD
• NCES district ID: 4206550
• Math proficiency: 39% ▼ -15.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $54,603
• Composite: 41.08/100
• National rank: #3572
• State rank: #215 of 539 in PA

Livability — McSherrystown

• Score: 67/100
• State rank: #1000
• US rank: #11007

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McSherrystown, PA
• City population: 3,770
• Population (ZIP): 3,770

Population outlook (Adams County) Hauer SSP2

• Today (2025): 102,494 people
• By 2030: 101,890 · -0.6%
• By 2040: 98,417 · -4.0%
• By 2050: 92,014 · -10.2%
• By 2075: 76,128 · -25.7%
• By 2100: 58,931 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 1% Cuban 2%
• Common ancestry: Romanian 5% Slovak 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+33.6) · D 32.7% · R 66.4%
• 2008→2024 swing: -14.1pp toward R · 2008: -19.6pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+34.1 2016: R+36.4 2012: R+27.6 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.17%
• Current HPI: 295.3816
• Rent YoY: —
• Metro: —
• 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

+103.6% since first listed

5 events — show timeline

• 2026-06-09 Price Changed $132,370 BRIGHT MLS
• 2026-06-04 Listed $143,880 BRIGHT MLS
• 2026-05-28 Listing Removed — BRIGHT MLS
• 2026-04-25 Listed $143,880 BRIGHT MLS
• 1995-02-21 Sold (Public Records) $65,000 Public Records

Property tax history

+3.3%/yr

Latest (2026): $2,957 · +1.7% YoY. Source: county tax records.