133 W High St · Manheim, PA 17545

$309,900

3 bd · 2.0 ba · 2,266 sqft · MultiFamily public records · 72 Days on market

Built 1920 4,356 sqft lot $137/sqft · at area comps Est $309k · at est.

---

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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.4/15.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• 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

$10,000 Price Improvement! Welcome Home to 133 West High Street in Manheim, offering four bedrooms and two full bathrooms with several recent updates! A welcoming front porch, added just a few years ago, is perfect for relaxing and enjoying the neighborhood. Inside, you’ll find luxury vinyl plank flooring throughout, fresh paint completed in 2022, and ceiling fans in every room. The kitchen has been updated and includes a stove replaced in 2024, while the upstairs full bathroom was remodeled in 2022. A convenient main level full bath adds extra functionality while the fully updated electrical adds peace of mind!. Outside, enjoy a privacy fence installed in 2023, a storage shed with a new roof in 2024 and off-street parking for two vehicles in the rear. Located in Manheim Borough and just minutes from Mill 72 Bake Shop & Café, Prussian Street Arcade, Manheim Square and Twisted Sisters Ice Cream, this home offers space, updates, and convenient access to some of the area’s favorite local spots! Don't wait, schedule your private tour today!

Key facts

• Front porch
• Privacy fence
• Storage shed

Tags

• FRONT PORCH
• LUXURY VINYL PLANK FLOORING
• UPDATED KITCHEN
• REMODELED FULL BATHROOM
• PRIVACY FENCE
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $310k).
• Recommended offer: $291k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 Central SD (suburban): math 38% / reading 53% proficiency, ranked #242 of 539 in PA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• At $4,268/mo this rent would consume 60% of the median local household income ($85k/yr) (locally 342% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $87k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.
• Current owner paid $220k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $291,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.38% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.02%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (median comp): $309,213
• List price: $309,900
• Delta: 0.22%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8-10 S Pitt St	0.03mi	4/— (+1)	2,204 (-3%)	19mo	$279,900	$127	73
16 W Stiegel St	0.36mi	3/2.0	1,962 (-13%)	21mo	$260,000	$133	43
243-245 S Charlotte St	0.44mi	4/3.0 (+1)	2,084 (-8%)	23mo	$255,000	$122	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.33×
• Total profit: $28,244
• Equity at exit: $46,207

10-year hold

• IRR: 17.5%
• Equity multiple: 2.45×
• Total profit: $125,803
• Equity at exit: $26,794

Cash invested: $86,772 (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 17545

• Home prices YoY: -30.5%
• Active inventory: 79
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $4,268 medium
• Mortgage (P&I): −$1,625
• Tax from tax record: −$387 /mo · $4,638/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$896
• Net cashflow: $1,231

Break-even live

Break-even rent $2,710

Max offer price $309,900

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,269
Total (3 units)			$4,268

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
488 Prospect Rd Manheim, PA	3.0	2.0	1680	$2,500	$1.49	23d	1	1.13mi

Listing history 12 events

1. 2026-04-30
   price $309,900 1078-char remark

   Show marketing remark (1078 chars)

   $10,000 Price Improvement! Welcome Home to 133 West High Street in Manheim, offering four bedrooms and two full bathrooms with several recent updates! A welcoming front porch, added just a few years ago, is perfect for relaxing and enjoying the neighborhood. Inside, you’ll find luxury vinyl plank flooring throughout, fresh paint completed in 2022, and ceiling fans in every room. The kitchen has been updated and includes a stove replaced in 2024, while the upstairs full bathroom was remodeled in 2022. A convenient main level full bath adds extra functionality while the fully updated electrical adds peace of mind!. Outside, enjoy a privacy fence installed in 2023, a storage shed with a new roof in 2024 and off-street parking for two vehicles in the rear. Located in Manheim Borough and just minutes from Mill 72 Bake Shop & Café, Prussian Street Arcade, Manheim Square and Twisted Sisters Ice Cream, this home offers space, updates, and convenient access to some of the area’s favorite local spots! Don't wait, schedule your private tour today!

2. 2026-04-22
   price $314,900 1078-char remark

   Show marketing remark (1078 chars)

   $10,000 Price Improvement! Welcome Home to 133 West High Street in Manheim, offering four bedrooms and two full bathrooms with several recent updates! A welcoming front porch, added just a few years ago, is perfect for relaxing and enjoying the neighborhood. Inside, you’ll find luxury vinyl plank flooring throughout, fresh paint completed in 2022, and ceiling fans in every room. The kitchen has been updated and includes a stove replaced in 2024, while the upstairs full bathroom was remodeled in 2022. A convenient main level full bath adds extra functionality while the fully updated electrical adds peace of mind!. Outside, enjoy a privacy fence installed in 2023, a storage shed with a new roof in 2024 and off-street parking for two vehicles in the rear. Located in Manheim Borough and just minutes from Mill 72 Bake Shop & Café, Prussian Street Arcade, Manheim Square and Twisted Sisters Ice Cream, this home offers space, updates, and convenient access to some of the area’s favorite local spots! Don't wait, schedule your private tour today!

3. 2026-03-13
   listed $319,900 Active 1078-char remark

   Show marketing remark (1078 chars)

   $10,000 Price Improvement! Welcome Home to 133 West High Street in Manheim, offering four bedrooms and two full bathrooms with several recent updates! A welcoming front porch, added just a few years ago, is perfect for relaxing and enjoying the neighborhood. Inside, you’ll find luxury vinyl plank flooring throughout, fresh paint completed in 2022, and ceiling fans in every room. The kitchen has been updated and includes a stove replaced in 2024, while the upstairs full bathroom was remodeled in 2022. A convenient main level full bath adds extra functionality while the fully updated electrical adds peace of mind!. Outside, enjoy a privacy fence installed in 2023, a storage shed with a new roof in 2024 and off-street parking for two vehicles in the rear. Located in Manheim Borough and just minutes from Mill 72 Bake Shop & Café, Prussian Street Arcade, Manheim Square and Twisted Sisters Ice Cream, this home offers space, updates, and convenient access to some of the area’s favorite local spots! Don't wait, schedule your private tour today!

4. 2021-09-15
   soldstatus $219,900
5. 2021-09-13
   soldstatus $219,900 Closed 218-char remark

   Show marketing remark (218 chars)

   Move in ready 3-story semi in the heart of Manheim. Nice size kitchen with adjoining dining room for entertaining guests. Very spacious 28x15 living room. Second floor balcony. Shed in back yard and off street parking.

6. 2021-07-27
   status Pending 218-char remark

   Show marketing remark (218 chars)

   Move in ready 3-story semi in the heart of Manheim. Nice size kitchen with adjoining dining room for entertaining guests. Very spacious 28x15 living room. Second floor balcony. Shed in back yard and off street parking.

7. 2021-07-21
   listed $219,900 Active 218-char remark

   Show marketing remark (218 chars)

   Move in ready 3-story semi in the heart of Manheim. Nice size kitchen with adjoining dining room for entertaining guests. Very spacious 28x15 living room. Second floor balcony. Shed in back yard and off street parking.

8. 2019-11-27
   soldstatus $90,000
9. 2019-11-26
   soldstatus $90,000 Closed
10. 2019-10-30
    status Pending
11. 2019-10-30
    price $90,000
12. 2019-10-24
    listed $87,500 Active

ⓘ 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: $4,638 · $387/mo
• Projected year-2 tax: $4,767 · $397/mo
• Expected delta: +$129/yr (+$11/mo · 2.8%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,216
• − Mortgage interest: −$17,359
• − Property taxes: −$4,638
• − Insurance: −$1,550
• − Repairs & maintenance: −$4,097
• − Management: −$4,097
• − Depreciation: −$9,015
• Taxable income: $10,459
• Est. tax owed @ 24.0%: −$2,510
• After-tax cash flow: $12,261/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 Central SD
• NCES district ID: 4214550
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 53% ▼ -10.00%
• Median HH income: $60,723
• Composite: 40.02/100
• National rank: #3825
• State rank: #242 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

• Census place: Manheim, PA
• County: Lancaster County · 390,309 people
• City population: 23,556
• Metro: Lancaster, PA
• Population (ZIP): 23,556
• Household income: $84,704
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 342.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Lithuanian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 3% Spanish 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: ▼ -115.46%
• Current HPI: 263.1172
• Rent YoY: —
• 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

+254.2% since first listed

12 events — show timeline

• 2026-04-30 Price Changed $309,900 BRIGHT MLS
• 2026-04-22 Price Changed $314,900 BRIGHT MLS
• 2026-03-13 Listed $319,900 BRIGHT MLS
• 2021-09-15 Sold (Public Records) $219,900 Public Records
• 2021-09-13 Sold (MLS) $219,900 BRIGHT MLS
• 2021-07-27 Pending — BRIGHT MLS
• 2021-07-21 Listed $219,900 BRIGHT MLS
• 2019-11-27 Sold (Public Records) $90,000 Public Records
• 2019-11-26 Sold (MLS) $90,000 BRIGHT MLS
• 2019-10-30 Pending — BRIGHT MLS
• 2019-10-30 Price Changed $90,000 BRIGHT MLS
• 2019-10-24 Listed $87,500 BRIGHT MLS

Property tax history

+4.8%/yr

Latest (2026): $4,638 · +2.6% YoY. Source: county tax records.