24-24A Reo Dr · South Londonderry, PA 17078

$109,000

2 bd · 2.0 ba · 1,411 sqft · SingleFamily · 139 Days on market

Built 2000 $77/sqft · 59% above area $555/mo HOA · 33% of rent

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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).

• Cash flow +14.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• DSCR +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to this great double wide situated in a 55+ community and is at the end of Reo, which allows the use of the large yard, privacy and creek! Home has many major upgrades with a new roof, windows, water heater, Heating & C/A, Bath and an updated Kitchen. Offers 2 Bedrooms, 2 full baths, Lg Kitchen with all appliances/oak cabinets and lg pantry, Dining area w/ views, open Living room, a Office/Den or a 3rd BR, Vaulted ceilings, ceiling fans, 200 AMP service, front & side porchs, nice Shed, a parking/patio area where you could have a patio table and chairs or use for parking. Don't miss this opportunity to own an affordable home in Hershey Estates aka Oliver Court! Must be park approved! NOTE: Hershey Estates pays the land tax!

Key facts

• Built 2000
• Listed 139 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $14 ($164/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Lingle Avenue El Sch (math 67% / reading 82%, grade A, #89 of 1,518 statewide, top 7%, 582 students, 30% FRL); Palmyra Area Ms (math 38% / reading 68%, grade C+, #90 of 512 statewide, top 19%, 829 students, 29% FRL); Palmyra Area Shs (math 80% / reading 24%, grade C-, #112 of 437 statewide, top 26%, 1,181 students, 23% FRL).
• Market conditions: 112 active listings in the ZIP; 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 $754 of loan paydown is wiped out by about $3k 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 139 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $65k; list at $109k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.54% ✓
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $68,684
• List price: $109,000
• Delta: 58.70%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85 Oliver Dr	0.19mi	2/2.0	1,232 (-13%)	10mo	$76,500	$62	62
75 Oliver Dr	0.18mi	3/2.0 (+1)	1,216 (-14%)	14mo	$69,000	$57	51

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-16,426
• Equity at exit: $16,252

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-11,695
• Equity at exit: $9,424

Cash invested: $30,520 (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: 112
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,673 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$555
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $14

Break-even live

Break-even rent $1,656

Max offer price $109,000

Occupancy floor 94%

Sensitivity live

Price	-10% $89	-5% $51	+0% $14	+5% $-24	+10% $-62
Rent	-10% $-119	-5% $-52	+0% $14	+5% $80	+10% $146
Rate	-1.0pp $69	-0.5pp $41	base $14	+0.5pp $-15	+1.0pp $-43

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $555 · $6,660/yr
• Likely covers: water

Listing history 35 events

1. 2026-06-21
   days on market $109,000 Active 139 DOM
2. 2026-06-19
   days on market $109,000 Active 137 DOM
3. 2026-06-18
   days on market $109,000 Active 136 DOM
4. 2026-06-17
   days on market $109,000 Active 135 DOM
5. 2026-06-16
   days on market $109,000 Active 134 DOM
6. 2026-06-15
   days on market $109,000 Active 133 DOM
7. 2026-06-14
   days on market $109,000 Active 131 DOM
8. 2026-06-13
   days on market $109,000 Active 130 DOM
9. 2026-06-10
   days on market $109,000 Active 128 DOM
10. 2026-06-09
    days on market $109,000 Active 127 DOM
11. 2026-06-08
    days on market $109,000 Active 126 DOM
12. 2026-06-07
    days on market $109,000 Active 125 DOM
13. 2026-06-03
    days on market $109,000 Active 121 DOM
14. 2026-06-02
    days on market $109,000 Active 120 DOM
15. 2026-06-01
    days on market $109,000 Active 119 DOM
16. 2026-05-31
    days on market $109,000 Active 118 DOM
17. 2026-05-30
    days on market $109,000 Active 117 DOM
18. 2026-02-09
    status Active 757-char remark

    Show marketing remark (757 chars)

    Welcome Home to this great double wide situated in a 55+ community and is at the end of Reo, which allows the use of the large yard, privacy and creek! Home has many major upgrades with a new roof, windows, water heater, Heating & C/A, Bath and an updated Kitchen. Offers 2 Bedrooms, 2 full baths, Lg Kitchen with all appliances/oak cabinets and lg pantry, Dining area w/ views, open Living room, a Office/Den or a 3rd BR, Vaulted ceilings, ceiling fans, 200 AMP service, front & side porchs, nice Shed, a parking/patio area where you could have a patio table and chairs or use for parking. Don't miss this opportunity to own an affordable home in Hershey Estates aka Oliver Court! Must be park approved! NOTE: Hershey Estates pays the land tax!

19. 2026-01-10
    historical Active Under Contract 757-char remark

    Show marketing remark (757 chars)

    Welcome Home to this great double wide situated in a 55+ community and is at the end of Reo, which allows the use of the large yard, privacy and creek! Home has many major upgrades with a new roof, windows, water heater, Heating & C/A, Bath and an updated Kitchen. Offers 2 Bedrooms, 2 full baths, Lg Kitchen with all appliances/oak cabinets and lg pantry, Dining area w/ views, open Living room, a Office/Den or a 3rd BR, Vaulted ceilings, ceiling fans, 200 AMP service, front & side porchs, nice Shed, a parking/patio area where you could have a patio table and chairs or use for parking. Don't miss this opportunity to own an affordable home in Hershey Estates aka Oliver Court! Must be park approved! NOTE: Hershey Estates pays the land tax!

20. 2025-12-16
    status Pending 757-char remark

    Show marketing remark (757 chars)

    Welcome Home to this great double wide situated in a 55+ community and is at the end of Reo, which allows the use of the large yard, privacy and creek! Home has many major upgrades with a new roof, windows, water heater, Heating & C/A, Bath and an updated Kitchen. Offers 2 Bedrooms, 2 full baths, Lg Kitchen with all appliances/oak cabinets and lg pantry, Dining area w/ views, open Living room, a Office/Den or a 3rd BR, Vaulted ceilings, ceiling fans, 200 AMP service, front & side porchs, nice Shed, a parking/patio area where you could have a patio table and chairs or use for parking. Don't miss this opportunity to own an affordable home in Hershey Estates aka Oliver Court! Must be park approved! NOTE: Hershey Estates pays the land tax!

21. 2025-12-09
    listed $109,000 Active 757-char remark

    Show marketing remark (757 chars)

    Welcome Home to this great double wide situated in a 55+ community and is at the end of Reo, which allows the use of the large yard, privacy and creek! Home has many major upgrades with a new roof, windows, water heater, Heating & C/A, Bath and an updated Kitchen. Offers 2 Bedrooms, 2 full baths, Lg Kitchen with all appliances/oak cabinets and lg pantry, Dining area w/ views, open Living room, a Office/Den or a 3rd BR, Vaulted ceilings, ceiling fans, 200 AMP service, front & side porchs, nice Shed, a parking/patio area where you could have a patio table and chairs or use for parking. Don't miss this opportunity to own an affordable home in Hershey Estates aka Oliver Court! Must be park approved! NOTE: Hershey Estates pays the land tax!

22. 2025-12-06
    historical $109,000 757-char remark

    Show marketing remark (757 chars)

    Welcome Home to this great double wide situated in a 55+ community and is at the end of Reo, which allows the use of the large yard, privacy and creek! Home has many major upgrades with a new roof, windows, water heater, Heating & C/A, Bath and an updated Kitchen. Offers 2 Bedrooms, 2 full baths, Lg Kitchen with all appliances/oak cabinets and lg pantry, Dining area w/ views, open Living room, a Office/Den or a 3rd BR, Vaulted ceilings, ceiling fans, 200 AMP service, front & side porchs, nice Shed, a parking/patio area where you could have a patio table and chairs or use for parking. Don't miss this opportunity to own an affordable home in Hershey Estates aka Oliver Court! Must be park approved! NOTE: Hershey Estates pays the land tax!

23. 2021-07-30
    soldstatus $64,900 Closed 549-char remark

    Show marketing remark (549 chars)

    Welcome to 24A Reo Drive . This unit is located at the end of the park giving it's owner privacy and the enjoyment of a creek. Many of the major upgrades have already been done in the past year and a half. Roof, Windows, AC, Heating, Hall bath gutted and remodeled, new rear landing. Roomy kitchen with refrigerator included, office area ( or bedroom 3 or den) vaulted ceilings. The master suite includes 2 closets and a bath. Lot rent of 350 a month includes community water, sewer and trash removal. Lawn tractor included "as is".

24. 2021-06-01
    status Pending 549-char remark

    Show marketing remark (549 chars)

    Welcome to 24A Reo Drive . This unit is located at the end of the park giving it's owner privacy and the enjoyment of a creek. Many of the major upgrades have already been done in the past year and a half. Roof, Windows, AC, Heating, Hall bath gutted and remodeled, new rear landing. Roomy kitchen with refrigerator included, office area ( or bedroom 3 or den) vaulted ceilings. The master suite includes 2 closets and a bath. Lot rent of 350 a month includes community water, sewer and trash removal. Lawn tractor included "as is".

25. 2021-05-24
    price $64,900 549-char remark

    Show marketing remark (549 chars)

    Welcome to 24A Reo Drive . This unit is located at the end of the park giving it's owner privacy and the enjoyment of a creek. Many of the major upgrades have already been done in the past year and a half. Roof, Windows, AC, Heating, Hall bath gutted and remodeled, new rear landing. Roomy kitchen with refrigerator included, office area ( or bedroom 3 or den) vaulted ceilings. The master suite includes 2 closets and a bath. Lot rent of 350 a month includes community water, sewer and trash removal. Lawn tractor included "as is".

26. 2021-04-19
    listed $69,000 Active 549-char remark

    Show marketing remark (549 chars)

    Welcome to 24A Reo Drive . This unit is located at the end of the park giving it's owner privacy and the enjoyment of a creek. Many of the major upgrades have already been done in the past year and a half. Roof, Windows, AC, Heating, Hall bath gutted and remodeled, new rear landing. Roomy kitchen with refrigerator included, office area ( or bedroom 3 or den) vaulted ceilings. The master suite includes 2 closets and a bath. Lot rent of 350 a month includes community water, sewer and trash removal. Lawn tractor included "as is".

27. 2019-09-12
    soldstatus $45,000 Closed
28. 2019-08-03
    status Pending
29. 2019-07-27
    price $49,900
30. 2019-06-26
    listed $54,900 Active
31. 2007-12-12
    soldstatus $37,900
32. 2007-11-20
    historical
33. 2007-11-20
    historical
34. 2007-03-12
    listed $39,900
35. 2007-03-12
    listed $39,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $20,080
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,606
• − Management: −$1,606
• − HOA: −$6,660
• − Depreciation: −$3,171
• Taxable loss: −$1,249
• Est. tax savings @ 24.0%: +$300
• After-tax cash flow: $464/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 — South Londonderry

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Lebanon County · 95,836 people
• 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

+173.2% since first listed

18 events — show timeline

• 2026-02-09 Relisted — BRIGHT MLS
• 2026-01-10 Contingent — BRIGHT MLS
• 2025-12-16 Pending — BRIGHT MLS
• 2025-12-09 Listed $109,000 BRIGHT MLS
• 2025-12-06 Coming Soon $109,000 BRIGHT MLS
• 2021-07-30 Sold (MLS) $64,900 BRIGHT MLS
• 2021-06-01 Pending — BRIGHT MLS
• 2021-05-24 Price Changed $64,900 BRIGHT MLS
• 2021-04-19 Listed $69,000 BRIGHT MLS
• 2019-09-12 Sold (MLS) $45,000 BRIGHT MLS
• 2019-08-03 Pending — BRIGHT MLS
• 2019-07-27 Price Changed $49,900 BRIGHT MLS
• 2019-06-26 Listed $54,900 BRIGHT MLS
• 2007-12-12 Sold (MLS) $37,900 BRIGHT MLS
• 2007-11-20 Listing Removed — BRIGHT MLS
• 2007-11-20 Listing Removed — BRIGHT MLS
• 2007-03-12 Listed $39,900 BRIGHT MLS
• 2007-03-12 Listed $39,900 BRIGHT MLS