37 W Main St · Dallastown, PA 17313

$200,000

1 bd · None ba · 2,784 sqft · Other public records · 8 Days on market

Built 1900 5,458 sqft lot $72/sqft · 25% below area Est $265k · 25% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This "AS IS "commercial property located in Dallastown Boro features a second-floor 1-bedroom apartment, offering a spacious and updated living environment that is currently rented. The first floor is a mixed-use commercial space that is currently operated as a shoe repair business. There is a limited showing times, see agent remarks for available times, and allow 24 hour notice for all showings. Additionally, the property includes a 12+ parking lot in the rear, enhancing accessibility for tenants and customers. This location presents an excellent opportunity for entrepreneurs to bring their business ideas to life, whether it's a retail shop, office space, or service-based busines

Key facts

• 5,458 sq ft lot
• 12 parking spots
• Built 1900

Property features AI

Finance

• Other: Fee simple ownership
• Financial info: Two total units (1 unit currently leased); Reported total actual rent: $700

Exterior

• Parking: Parking lot (12 spaces)
• Utilities: Public water; Public sewer; 200+ amp electric service; Natural gas hot water
• Home design: Detached structure; Above-grade finished area approximately 2,784 (estimated)
• Construction: Aluminum siding; Block foundation; Architectural shingle and rubber roof; Above grade and below grade other structures
• Exterior features: Lighted, paved parking lot with 12 spaces; No tidal water

Interior

• Bedrooms: One 1-bedroom unit (of 2 total units)
• Heating & cooling: Baseboard hot water heating fueled by natural gas; Wall unit cooling (electric)
• Interior features: Property in good condition; Estimated living area

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (26.2% below list).
• Recommended offer: $148k (26.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#854 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment D+, amenities F, commute F.
• Dallastown Area SD (suburban): math 47% / reading 63% proficiency, ranked #102 of 539 in PA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dallastown Area Shs (math 71% / reading 24%, grade D, #164 of 437 statewide, top 38%, 2,014 students, 33% FRL).
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; list at $200k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $147,500 (26.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.74% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 11.3

CMA / ARV

• ARV (median comp): $265,000
• List price: $200,000
• Delta: -24.53%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.29×
• Total profit: $-39,752
• Equity at exit: $29,821

10-year hold

• IRR: -13.6%
• Equity multiple: 0.21×
• Total profit: $-44,183
• Equity at exit: $17,292

Cash invested: $56,000 (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 17313

• Home prices YoY: -26.5%
• Active inventory: 43
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,475 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$148 /mo · $1,773/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-115

Break-even live

Break-even rent $1,620

Max offer price $179,746

Occupancy floor —

Sensitivity live

Price	-10% $-1	-5% $-58	+0% $-115	+5% $-171	+10% $-228
Rent	-10% $-231	-5% $-173	+0% $-115	+5% $-56	+10% $2
Rate	-1.0pp $-14	-0.5pp $-64	base $-115	+0.5pp $-166	+1.0pp $-219

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2992 Herrlyn Ct Dallastown, PA	2.0	1.0	2100	$1,475	$0.70	23d	1	0.71mi

Listing history 3 events

1. 2026-05-07
   status Pending 701-char remark
2. 2026-04-29
   listed $200,000 Active 701-char remark
3. 1984-06-19
   soldstatus $40,000

ⓘ 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: $1,773 · $148/mo
• Projected year-2 tax: $2,466 · $206/mo
• Expected delta: +$694/yr (+$58/mo · 39.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,700
• − Mortgage interest: −$11,203
• − Property taxes: −$1,773
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$5,818
• Taxable loss: −$4,926
• Est. tax savings @ 24.0%: +$1,182
• After-tax cash flow: $-194/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: Dallastown Area SD
• NCES district ID: 4207230
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 63% ▼ -9.00%
• Median HH income: $61,805
• Composite: 48.0/100
• National rank: #2199
• State rank: #102 of 539 in PA

Livability — Dallastown

• Score: 69/100
• State rank: #854
• US rank: #8965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallastown, PA
• Population (ZIP): 11,263

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 (81%)
• Race & ethnicity: White 81% Two or more races 9% Hispanic / Latino 5% Black 5%
• Common ancestry: Romanian 5% Serbian 2% Iranian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -93.45%
• Current HPI: 258.6397
• 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

+400.0% since first listed

3 events — show timeline

• 2026-05-07 Pending — BRIGHT MLS
• 2026-04-29 Listed $200,000 BRIGHT MLS
• 1984-06-19 Sold (Public Records) $40,000 Public Records

Property tax history

+2.7%/yr

Latest (2018): $1,773 · +4.0% YoY. Source: county tax records.