39 W Farnum St · Lancaster, PA 17603

$139,000

4 bd · 1.0 ba · 1,564 sqft · Townhouse public records · 3 Days on market

Built 1886 1,742 sqft lot

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cheap rental property in great shape. Motivated Sellers say. .. .. Bring Offers! Currently rented for $810/month. To show call Jennifer 717-380-9688

Key facts

• Interior space
• Full renovation
• Convenient location

Tags

• LANCASTER CITY LOCATION
• FULL RENOVATION
• INTERIOR SPACE
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Land assessed separately from improvements

Exterior

• Parking: On-street parking
• Utilities: 100 Amp electric service; Natural gas available; Electric service available; Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Ownership is fee simple; Year built is estimated
• Construction: Brick construction; Shingle roof; Foundation described as other
• Exterior features: Not located in a federal flood zone; No tidal water on the property

Interior

• Bedrooms: Two bedrooms on the first upper level; Two bedrooms on the second upper level
• Bathrooms: One full bathroom (total)
• Heating & cooling: Forced air heating; Electric hot water
• Interior features: Unfinished basement; Living area size is an estimate

🏷️ Possibly a rental listed for sale. The $139,000 price doesn't fit this home's estimated sale value (~$279,956) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $139k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 10.7% vs local median 4.2% in Lancaster — 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 85/100 on livability (#71 in PA, #498 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment C-.
• Lancaster SD (urban): math 12% / reading 25% proficiency, ranked #500 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 292 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 21y 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 1886 — 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 $139,000

Questions for the listing agent

1. Built in 1886 — 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 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: 1.35% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.59%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $279,956
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
39 W Farnum St	0.00mi	4/1.0	1,564 (0%)	0mo	$135,000	$86	100
529 Poplar St	0.32mi	4/2.5	1,560 (-0%)	1mo	$283,000	$181	78
524 Locust St	0.22mi	4/1.0	1,444 (-8%)	1mo	$213,000	$148	76
614 Saint Joseph St	0.38mi	4/1.5	1,632 (+4%)	0mo	$184,000	$113	73
114 N Charlotte St	0.46mi	4/1.5	1,492 (-5%)	0mo	$345,000	$231	68
614-1/2 Lafayette St	0.46mi	4/1.5	1,482 (-5%)	0mo	$252,500	$170	68
517 Saint Joseph St	0.30mi	5/1.5 (+1)	1,698 (+9%)	1mo	$215,000	$127	64
631 Rockland St	0.56mi	4/1.5	1,638 (+5%)	1mo	$293,000	$179	63
519 3rd St	0.56mi	3/2.0 (-1)	1,636 (+5%)	1mo	$215,000	$131	56
211 E Chestnut St	0.55mi	3/1.5 (-1)	1,429 (-9%)	1mo	$330,000	$231	52
409 W Lemon St	0.74mi	3/2.5 (-1)	1,512 (-3%)	1mo	$455,000	$301	48
240 Coral St	0.65mi	3/2.0 (-1)	1,361 (-13%)	1mo	$291,000	$214	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 · 0.47% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.13×
• Total profit: $5,072
• Equity at exit: $20,725

10-year hold

• IRR: 10.4%
• Equity multiple: 1.72×
• Total profit: $27,892
• Equity at exit: $12,018

Cash invested: $38,920 (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 17603

• Rents YoY: 0.5%
• Active inventory: 292
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,875 high
• Mortgage (P&I): −$729
• Tax from tax record: −$188 /mo · $2,260/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $506

Break-even live

Break-even rent $1,234

Max offer price $139,000

Occupancy floor 68%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 W Farnum St Lancaster, PA	3.0	1.0	1820	$1,650	$0.91	44d	1	0.02mi
214 W Strawberry St Lancaster, PA	3.0	1.0	1175	$1,345	$1.14	21d	1	0.14mi
549 Howard Ave Lancaster, PA	4.0	1.0	1439	$1,700	$1.18	44d	1	0.22mi
345 1/2 Beaver St Lancaster, PA	4.0	1.0	1382	$2,095	$1.52	44d	1	0.23mi
513 Poplar St Lancaster, PA	3.0	1.5	1184	$1,695	$1.43	44d	1	0.27mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$4,703	$3.69	14d	48	0.35mi
609 Saint Joseph St Lancaster, PA	4.0	2.0	1523	$1,695	$1.11	44d	1	0.36mi
529 Manor St Lancaster, PA	3.0	1.0	1434	$1,635	$1.14	14d	1	0.42mi
537 Woodward St Lancaster, PA	3.0	2.0	1288	$1,650	$1.28	23d	1	0.44mi
14 Coral St Lancaster, PA	3.0	1.5	1355	$1,525	$1.13	44d	1	0.62mi
708 S Lime St Unit 3 Lancaster, PA	4.0	1.0	1742	$1,850	$1.06	44d	1	0.64mi
741 Manor St Lancaster, PA	3.0	1.0	1200	$1,695	$1.41	44d	1	0.64mi
403 N Queen St Lancaster, PA	3.0	2.0	1950	$3,500	$1.79	14d	1	0.66mi
40 Fairview Ave Lancaster, PA	3.0	1.0	1152	$1,700	$1.48	14d	1	0.68mi
337 W Lemon St Unit 2 Lancaster, PA	3.0	1.0	1588	$1,895	$1.19	14d	1	0.69mi
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	14d	1	0.69mi
520 W Frederick St Lancaster, PA	4.0	1.0	1713	$1,895	$1.11	44d	1	0.93mi
611 S West End Ave Lancaster, PA	4.0	1.5	1589	$1,800	$1.13	14d	1	0.95mi
738 E Madison St Lancaster, PA	3.0	1.0	1102	$1,750	$1.59	44d	1	1.09mi
860 N Market St Lancaster, PA	3.0	2.0	1514	$1,850	$1.22	44d	1	1.15mi
836 N Plum St Lancaster, PA	3.0	2.0	1602	$2,150	$1.34	14d	1	1.22mi
1121 Spring Grove Ave Lancaster, PA	4.0	2.0	1755	$2,200	$1.25	44d	1	1.22mi
631 E Frederick St Lancaster, PA	3.0	1.0	1830	$1,850	$1.01	44d	1	1.25mi
135 Grandview Ave Lancaster, PA	3.0	2.0	1395	$3,295	$2.36	14d	1	1.30mi
1330 Wabank Rd Lancaster, PA	1.0–3.0	1.0–2.5	1423	$2,062	$1.45	14d	21	1.33mi
204 Elmshire Dr Lancaster, PA	3.0	2.5	1364	$1,595	$1.17	44d	1	1.34mi
766 New Holland Ave Lancaster, PA	3.0	1.0	1152	$1,795	$1.56	14d	1	1.39mi
101 Roselawn Ave Lancaster, PA	3.0	2.0	1166	$1,785	$1.53	14d	1	1.41mi
1415 Spencer Ave Lancaster, PA	1.0–3.0	1.0–2.0	1181	$3,720	$3.15	14d	1	1.46mi
270 Kentshire Dr Lancaster, PA	3.0	2.5	1512	$2,000	$1.32	44d	1	1.47mi

Listing history 15 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $139,000 Active
3. 2022-03-18
   soldstatus $1,625,000
4. 2014-12-05
   soldstatus $36,000 148-char remark

   Show marketing remark (148 chars)

   Cheap rental property in great shape. Motivated Sellers say. .. .. Bring Offers! Currently rented for $810/month. To show call Jennifer 717-380-9688

5. 2014-09-19
   listed $39,900 148-char remark

   Show marketing remark (148 chars)

   Cheap rental property in great shape. Motivated Sellers say. .. .. Bring Offers! Currently rented for $810/month. To show call Jennifer 717-380-9688

6. 2013-06-16
   historical
7. 2012-12-05
   listed $54,895
8. 2009-01-05
   soldstatus $41,000
9. 2008-07-30
   historical
10. 2007-11-09
    listed $46,900
11. 2007-08-30
    historical
12. 2006-10-02
    listed $54,900
13. 2005-10-30
    historical
14. 2005-07-20
    listed $59,900
15. 1997-04-03
    soldstatus $29,100

ⓘ 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: $2,260 · $188/mo
• Projected year-2 tax: $2,260 · $188/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 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,496
• − Mortgage interest: −$7,786
• − Property taxes: −$2,260
• − Insurance: −$695
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$4,044
• Taxable income: $4,112
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $5,083/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: Lancaster SD
• NCES district ID: 4213140
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -13.00%
• Median HH income: $38,500
• Composite: 15.52/100
• National rank: #9301
• State rank: #500 of 539 in PA

Livability — Lancaster

• Score: 85/100
• State rank: #71
• US rank: #498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, PA
• County: Lancaster County · 390,309 people
• City population: 176,170
• Metro: Lancaster, PA
• Population (ZIP): 67,571
• Household income: $77,084
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2557.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 12% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 19% Cuban 1% Dominican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada, China, India
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 1% Chinese 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: ▼ -508.78%
• Current HPI: 289.3324
• Rent YoY: ▲ 0.47%
• 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

+377.7% since first listed

15 events — show timeline

• 2026-05-21 Pending — BRIGHT MLS
• 2026-05-18 Listed $139,000 BRIGHT MLS
• 2022-03-18 Sold (Public Records) $1,625,000 Public Records
• 2014-12-05 Sold (MLS) $36,000 BRIGHT MLS
• 2014-09-19 Listed $39,900 BRIGHT MLS
• 2013-06-16 Listing Removed — BRIGHT MLS
• 2012-12-05 Listed $54,895 BRIGHT MLS
• 2009-01-05 Sold (Public Records) $41,000 Public Records
• 2008-07-30 Listing Removed — BRIGHT MLS
• 2007-11-09 Listed $46,900 BRIGHT MLS
• 2007-08-30 Listing Removed — BRIGHT MLS
• 2006-10-02 Listed $54,900 BRIGHT MLS
• 2005-10-30 Listing Removed — BRIGHT MLS
• 2005-07-20 Listed $59,900 BRIGHT MLS
• 1997-04-03 Sold (Public Records) $29,100 Public Records

Property tax history

-2.6%/yr

Latest (2026): $2,260 · +3.3% YoY. Source: county tax records.