247 N College St · Palmyra, PA 17078

$148,500

3 bd · 1.0 ba · 1,416 sqft · SingleFamily public records · 24 Days on market

Built 1930 6,970 sqft lot $105/sqft · 33% below area Est $222k · 33% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +7.0/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * FIXER UPPER PUBLIC AUCTION ALERT * * Property is up for public auction on Wednesday, May 27th @ 2PM and is sold as is, where is with no contingencies. For auction terms and conditions please visit auction website. Starting Bid: ONLY $50,000!! This property is in need of a cosmetic renovation - Single Family Home with 3 bedrooms and 1 bathroom in Palmyra Borough. Auction Terms - $10,000 deposit on the day of the auction with the balance due in 14 days. A 10% buyer premium will be added to the high bid price and become part of the purchase price. The buyer will be responsible for the 2% PA real estate transfer tax. Buyer will assume contents at the property.

Key facts

• 6,970 sq ft lot
• Built 1930
• Listed 24 days

Property features AI

Finance

• Other: Fee simple ownership; Finished area above grade reported by assessor (1,416)

Exterior

• Parking: Alley access; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Detached property; Metal roof; Vinyl siding construction
• Construction: Block foundation; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone; Ground rent paid annually

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Hot water heating; Oil-fired heating
• Interior features: Unfinished basement; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $146k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 1.8% in Palmyra — 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 (#246 in PA, #2,112 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Palmyra Area SD (suburban): math 52% / reading 70% proficiency, ranked #63 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 110 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 315 units permitted in Lebanon County in 2024 (36 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 $4k of value loss. Plan a longer hold.
• Lebanon County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $146,272 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 A-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: 1.20% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 7.0

CMA / ARV

• ARV (median comp): $221,757
• List price: $148,500
• Delta: -33.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Evergreen Aly	0.22mi	3/2.0	1,422 (+0%)	8mo	$220,000	$155	78
133 W Spruce St	0.26mi	3/2.0	1,404 (-1%)	7mo	$125,000	$89	76
223 S Locust St	0.45mi	3/2.0	1,404 (-1%)	3mo	$230,000	$164	71
425 E Maple St	0.60mi	3/1.5	1,452 (+2%)	4mo	$290,000	$200	63
500 W Cherry St	0.50mi	3/1.5	1,386 (-2%)	11mo	$270,000	$195	62
90 E Hazel St	0.39mi	3/1.0	1,248 (-12%)	3mo	$250,000	$200	60
564 W Cedar St	0.55mi	3/2.0	1,512 (+7%)	6mo	$122,000	$81	54
412 W Cedar St	0.66mi	2/2.0 (-1)	1,428 (+1%)	11mo	$125,000	$88	50
309 W Oak St	0.51mi	3/1.5	1,291 (-9%)	12mo	$354,500	$275	50
510 W Maple St	0.55mi	2/2.0 (-1)	1,518 (+7%)	5mo	$306,500	$202	49
701 N Grant St	0.57mi	3/2.0	1,232 (-13%)	6mo	$310,000	$252	42
624 W Cedar St	0.52mi	3/2.0	1,219 (-14%)	7mo	$80,000	$66	42

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-7,092
• Equity at exit: $22,142

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $15,946
• Equity at exit: $12,840

Cash invested: $41,580 (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 17078

• Home prices YoY: -25.1%
• Active inventory: 110
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$779
• Tax from tax record: −$300 /mo · $3,598/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $265

Break-even live

Break-even rent $1,444

Max offer price $148,500

Occupancy floor 80%

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: $37,125
• Closing costs: $4,455
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 N Penn St Palmyra, PA	3.0	2.5	1750	$2,300	$1.31	43d	1	0.63mi
138 S Hetrick Ave Palmyra, PA	3.0	1.5	1075	$1,600	$1.49	44d	1	0.66mi
822 W Main St Palmyra, PA	3.0	1.0	1410	$1,650	$1.17	13d	1	0.78mi
506 S Franklin St Palmyra, PA	2.0	1.0	1600	$1,600	$1.00	43d	1	0.78mi
933 E Maple St Palmyra, PA	2.0	1.5	1404	$1,800	$1.28	43d	1	0.96mi
609 Cambridge Ct Palmyra, PA	2.0	1.5	1208	$1,895	$1.57	13d	1	1.19mi
1805 Wexford Rd Palmyra, PA	2.0	2.5	1564	$1,900	$1.21	23d	1	1.27mi
802 Cambridge Ct Palmyra, PA	2.0	1.5	1208	$1,700	$1.41	43d	1	1.29mi
406 Barrington Ct Palmyra, PA	2.0	1.5	1208	$1,795	$1.49	43d	1	1.40mi
1263 Jo Mar Ct Hershey, PA	2.0	2.0	1056	$1,195	$1.13	43d	1	1.49mi

Listing history 2 events

1. 2026-05-04
   listed $50,000 Active 671-char remark
2. 1998-10-27
   soldstatus $109,900

ⓘ 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: $3,598 · $300/mo
• Projected year-2 tax: $3,598 · $300/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,348
• − Mortgage interest: −$8,318
• − Property taxes: −$3,598
• − Insurance: −$742
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$4,320
• Taxable income: $953
• Est. tax owed @ 24.0%: −$229
• After-tax cash flow: $2,950/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: Palmyra Area SD
• NCES district ID: 4218390
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $60,526
• Composite: 52.84/100
• National rank: #1537
• State rank: #63 of 539 in PA

Livability — Palmyra

• Score: 79/100
• State rank: #246
• US rank: #2112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmyra, PA
• County: Lebanon County · 95,836 people
• City population: 23,840
• Metro: Lebanon, PA
• Population (ZIP): 23,840
• Household income: $93,135
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 503.0

Population outlook (Lebanon County) Hauer SSP2

• Today (2025): 144,806 people
• By 2030: 147,534 · +1.9%
• By 2040: 152,952 · +5.6%
• By 2050: 159,406 · +10.1%
• By 2075: 181,736 · +25.5%
• By 2100: 198,402 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 4% Asian 3% Black 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 3% Slovak 1% Serbian 1%
• Foreign-born: 4% · India, Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Lebanon

• 2024 margin: Solid R (+32.0) · D 33.6% · R 65.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -18.9pp · 2024: -32.0pp
• All cycles: 2024: R+32.0 2020: R+31.7 2016: R+35.5 2012: R+28.0 2008: R+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.77%
• Current HPI: 255.2294
• Rent YoY: —
• Metro: Lebanon, 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

+35.1% since first listed

4 events — show timeline

• 2026-05-28 Price Changed $148,500 BRIGHT MLS
• 2026-05-28 Pending — BRIGHT MLS
• 2026-05-04 Listed $50,000 BRIGHT MLS
• 1998-10-27 Sold (Public Records) $109,900 Public Records

Property tax history

+4.4%/yr

Latest (2026): $3,598 · +0.7% YoY. Source: county tax records.