141 S Washington St · Greencastle, PA 17225

$179,900

3 bd · 2.0 ba · 1,750 sqft · Other · 17 Days on market

Built 1900 9,147 sqft lot $103/sqft · 23% below area Est $233k · 23% 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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Four-Story Brick Home with Historic Character & Value-Add Potential This four-story brick home offers a rare blend of historic charm and renovation opportunity. Featuring 3 bedrooms and 2 full bathrooms, the property includes * * two fireplaces—located in the living room and primary bedroom— * * and original hardwood floors in select rooms, providing timeless character and a strong foundation for restoration. The home offers an unfinished basement with excellent storage or future finishing potential, along with a lofty, creative attic space ideal for additional living area, office, or studio use. A large backyard adds outdoor value and flexibility, and the property also

Key facts

• Unfinished basement
• Large backyard
• Off-street parking

Tags

• TWO FIREPLACES
• ORIGINAL HARDWOOD FLOORS
• UNFINISHED BASEMENT
• LOFTY CREATIVE ATTIC SPACE
• LARGE BACKYARD
• OFF-STREET PARKING

Property features AI

Finance

• Other: Ownership is fee simple; Lease not considered

Exterior

• Parking: Off-street parking
• Utilities: 100 amp electric service; Public water; Public sewer
• Home design: Detached home; Main entrance faces northeast; Major rehab needed
• Construction: Brick construction; Brick/mortar foundation; Asbestos shingle roof; Building not winterized; Above-grade other structures
• Exterior features: Shed on property; Not in a federal flood zone; Pets allowed with no restrictions

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Hot water baseboard heating; Natural gas heating
• Interior features: Estimated living area; 9 total rooms; Connecting stairway to basement; Unfinished basement; Two fireplaces
• Laundry & utility: Laundry on the main floor; 60+ gallon natural gas hot water tank

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $55 ($659/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 $150k (16.9% below list).
• Recommended offer: $150k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.1% in Greencastle — 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 (#273 in PA, #2,406 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F.
• Greencastle-Antrim SD (suburban): math 43% / reading 65% proficiency, ranked #118 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greencastle-Antrim El Sch (math 45% / reading 63%, grade C, #557 of 1,518 statewide, top 37%, 680 students, 40% FRL); Greencastle-Antrim Ms (math 32% / reading 67%, grade C, #137 of 512 statewide, top 27%, 689 students, 37% FRL); Greencastle-Antrim Shs (math 74% / reading 24%, grade D, #149 of 437 statewide, top 34%, 1,047 students, 32% FRL).
• Market conditions: 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 17 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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.
• Current owner paid $147k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $149,500 (16.9% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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: 0.83% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (median comp): $232,542
• List price: $179,900
• Delta: -22.64%
• 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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-25,702
• Equity at exit: $26,824

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-18,077
• Equity at exit: $15,554

Cash invested: $50,372 (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 17225

• Home prices YoY: -19.0%
• Active inventory: 122
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$108 /mo · $1,293/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $55

Break-even live

Break-even rent $1,425

Max offer price $179,900

Occupancy floor 91%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 S Carlisle St Greencastle, PA	3.0	1.0	1470	$1,495	$1.02	21d	1	0.07mi

Listing history 17 events

1. 2026-05-06
   historical
2. 2026-05-06
   listed $179,900 Active 1113-char remark
3. 2026-04-24
   listed $188,900 Active
4. 2026-04-24
   historical
5. 2026-04-21
   historical Active Under Contract
6. 2026-04-03
   price $189,900
7. 2026-04-03
   status Active
8. 2026-04-03
   historical
9. 2026-02-13
   listed $198,900 Active
10. 2026-02-13
    historical
11. 2026-01-08
    listed $209,900 Active
12. 2025-10-14
    soldstatus $146,880
13. 2025-10-08
    soldstatus $146,880 Closed
14. 2025-09-11
    status Pending
15. 2025-09-02
    price $104,900
16. 2025-08-07
    listed $139,900 Active
17. 2025-07-29
    historical $139,900

ⓘ 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: $1,293 · $108/mo
• Projected year-2 tax: $2,068 · $172/mo
• Expected delta: +$775/yr (+$65/mo · 59.9%)

ⓘ 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 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,940
• − Mortgage interest: −$10,077
• − Property taxes: −$1,293
• − Insurance: −$900
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$5,233
• Taxable loss: −$2,433
• Est. tax savings @ 24.0%: +$584
• After-tax cash flow: $1,243/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: Greencastle-Antrim SD
• NCES district ID: 4211010
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 65% ▼ -9.00%
• Median HH income: $62,541
• Composite: 47.21/100
• National rank: #2319
• State rank: #118 of 539 in PA

Livability — Greencastle

• Score: 78/100
• State rank: #273
• US rank: #2406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greencastle, PA
• Population (ZIP): 20,335

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 4% Italian 4% American 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -54.84%
• Current HPI: 233.5857
• 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

+28.6% since first listed

18 events — show timeline

• 2026-05-23 Pending — BRIGHT MLS
• 2026-05-06 Listing Removed — BRIGHT MLS
• 2026-05-06 Listed $179,900 BRIGHT MLS
• 2026-04-24 Listing Removed — BRIGHT MLS
• 2026-04-24 Listed $188,900 BRIGHT MLS
• 2026-04-21 Contingent — BRIGHT MLS
• 2026-04-03 Price Changed $189,900 BRIGHT MLS
• 2026-04-03 Relisted — BRIGHT MLS
• 2026-04-03 Listing Removed — BRIGHT MLS
• 2026-02-13 Listing Removed — BRIGHT MLS
• 2026-02-13 Listed $198,900 BRIGHT MLS
• 2026-01-08 Listed $209,900 BRIGHT MLS
• 2025-10-14 Sold (Public Records) $146,880 Public Records
• 2025-10-08 Sold (MLS) $146,880 BRIGHT MLS
• 2025-09-11 Pending — BRIGHT MLS
• 2025-09-02 Price Changed $104,900 BRIGHT MLS
• 2025-08-07 Listed $139,900 BRIGHT MLS
• 2025-07-29 Coming Soon $139,900 BRIGHT MLS

Property tax history

+12.6%/yr

Latest (2026): $1,293 · +2.9% YoY. Source: county tax records.