303 W Walnut St · Hanover, PA 17331

$95,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records

Built 1983 4,282 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 +26.5/30.0
• 1% rule +9.5/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 3 bedroom 1 1/2 bath rancher in quiet neighborhood- newer carpet in LR and FR - new paint in kitchen and bedrooms- 5 year old roof- full basement with outside entrance.

Key facts

• 4,282 sq ft lot
• Built 1983

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 9.5% vs local median 3.9% in Hanover — 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 76/100 on livability (#373 in PA, #3,295 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment D, commute F.
• Hanover Public SD (urban): math 34% / reading 54% proficiency, ranked #294 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 386 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,328 units permitted in York County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y 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: property tax is 3.7% of price.
• 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 $95,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.45% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $225,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 W Walnut St	0.00mi	3/1.0	1,152 (0%)	0mo	$95,000	$82	100
77 2nd Ave	0.01mi	3/2.0	1,152 (0%)	2mo	$185,000	$161	94
832 Hartman Ave	0.64mi	3/1.0	1,134 (-2%)	0mo	$251,000	$221	67
15 Westminster Ave	0.49mi	3/2.0	1,104 (-4%)	3mo	$221,000	$200	64
541 S Franklin St	0.64mi	3/1.0	1,124 (-2%)	6mo	$220,000	$196	61
221 Locust St	0.49mi	2/1.0 (-1)	1,176 (+2%)	9mo	$200,000	$170	61
3 Sprenkle Ave	0.48mi	3/2.0	1,232 (+7%)	1mo	$250,000	$203	61
538 York St	0.74mi	3/1.5	1,237 (+7%)	1mo	$245,000	$198	51
254 Princess St	0.71mi	3/1.0	1,238 (+8%)	7mo	$236,000	$191	48
47 Sprenkle Ave	0.60mi	2/1.0 (-1)	1,260 (+9%)	6mo	$215,000	$171	46
522 S High St	0.67mi	3/1.0	988 (-14%)	2mo	$244,900	$248	43
324 E Pleasant St	0.70mi	2/1.5 (-1)	1,294 (+12%)	6mo	$235,000	$182	34

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.12×
• Total profit: $3,068
• Equity at exit: $14,165

10-year hold

• IRR: 14.4%
• Equity multiple: 2.27×
• Total profit: $33,749
• Equity at exit: $8,214

Cash invested: $26,600 (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 17331

• Home prices YoY: -33.8%
• Rents YoY: 4.7%
• Active inventory: 386
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,374 high
• Mortgage (P&I): −$498
• Tax from tax record: −$297 /mo · $3,560/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $251

Break-even live

Break-even rent $1,056

Max offer price $95,000

Occupancy floor 77%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
261 N Franklin St Unit 302 Hanover, PA	3.0	2.0	1398	$1,130	$0.81	43d	1	0.43mi
261 N Franklin St Unit 212 Hanover, PA	2.0	1.0	1187	$1,139	$0.96	21d	1	0.43mi
342 E Walnut St Unit 29 Hanover, PA	2.0	1.0	700	$945	$1.35	21d	1	0.64mi
514 Broadway Unit 1st Floor Hanover, PA	2.0	1.0	1130	$1,320	$1.17	13d	1	0.73mi
11 Penn St Unit 2nd Fl Hanover, PA	2.0	1.0	1000	$1,050	$1.05	13d	1	0.80mi
285 South St Hanover, PA	3.0	1.5	1000	$1,350	$1.35	13d	1	1.03mi
807 W Alvin St Unit 835 Hanover, PA	2.0	1.0	700	$1,000	$1.43	21d	1	1.19mi
807 W Alvin St Hanover, PA	1.0–2.0	1.0	625	$1,000	$1.60	13d	2	1.19mi
607 3rd St Hanover, PA	3.0	1.0	1276	$1,400	$1.10	21d	1	1.20mi
612 Maple Ave Hanover, PA	2.0	2.0	900	$1,295	$1.44	13d	1	1.27mi
203 W Clearview Rd Hanover, PA	1.0–2.0	1.0	844	$1,660	$1.97	13d	14	1.29mi
125 Grant Dr Hanover, PA	3.0	2.0	780	$1,445	$1.85	21d	1	1.36mi
101 Pacer Dr Unit M Hanover, PA	3.0	2.5	1252	$1,751	$1.40	43d	1	1.39mi
101 Pacer Dr Unit L Hanover, PA	3.0	2.5	1252	$1,901	$1.52	13d	1	1.39mi
101 Pacer Dr Unit K Hanover, PA	3.0	2.5	1252	$1,846	$1.47	43d	1	1.39mi

Listing history 11 events

1. 2026-05-14
   listed $95,000
2. 2026-05-14
   historical
3. 2008-05-09
   soldstatus $119,900
4. 2008-03-25
   soldstatus $119,900 173-char remark

   Show marketing remark (173 chars)

   Cozy 3 bedroom 1 1/2 bath rancher in quiet neighborhood- newer carpet in LR and FR - new paint in kitchen and bedrooms- 5 year old roof- full basement with outside entrance.

5. 2008-02-08
   historical 173-char remark

   Show marketing remark (173 chars)

   Cozy 3 bedroom 1 1/2 bath rancher in quiet neighborhood- newer carpet in LR and FR - new paint in kitchen and bedrooms- 5 year old roof- full basement with outside entrance.

6. 2007-09-15
   listed $129,900 173-char remark

   Show marketing remark (173 chars)

   Cozy 3 bedroom 1 1/2 bath rancher in quiet neighborhood- newer carpet in LR and FR - new paint in kitchen and bedrooms- 5 year old roof- full basement with outside entrance.

7. 2006-10-19
   historical
8. 2006-07-19
   listed $139,995
9. 2006-07-17
   historical
10. 2006-04-17
    listed $144,900
11. 1988-02-04
    soldstatus $45,900

ⓘ 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: $3,560 · $297/mo
• Projected year-2 tax: $3,560 · $297/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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $16,488
• − Mortgage interest: −$5,321
• − Property taxes: −$3,560
• − Insurance: −$475
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$2,764
• Taxable income: $1,729
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $2,597/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: Hanover Public SD
• NCES district ID: 4211450
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $45,022
• Composite: 37.26/100
• National rank: #4457
• State rank: #294 of 539 in PA

Livability — Hanover

• Score: 76/100
• State rank: #373
• US rank: #3295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanover, PA
• County: York County · 278,806 people
• City population: 56,443
• Metro: York-Hanover, PA
• Population (ZIP): 56,443
• Household income: $79,488
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 1076.0

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 7% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.48%
• Current HPI: 251.8974
• Rent YoY: ▲ 4.67%
• Metro: York-Hanover, 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

+107.0% since first listed

11 events — show timeline

• 2026-05-14 Listing Removed — BRIGHT MLS
• 2026-05-14 Listed $95,000 BRIGHT MLS
• 2008-05-09 Sold (Public Records) $119,900 Public Records
• 2008-03-25 Sold (MLS) $119,900 BRIGHT MLS
• 2008-02-08 Listing Removed — BRIGHT MLS
• 2007-09-15 Listed $129,900 BRIGHT MLS
• 2006-10-19 Listing Removed — BRIGHT MLS
• 2006-07-19 Listed $139,995 BRIGHT MLS
• 2006-07-17 Listing Removed — BRIGHT MLS
• 2006-04-17 Listed $144,900 BRIGHT MLS
• 1988-02-04 Sold (Public Records) $45,900 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,560 · +0.8% YoY. Source: county tax records.