122 N Main St · Red Lion, PA 17356

$145,000

3 bd · 1.0 ba · 1,176 sqft · MultiFamily public records · 6 Days on market

Built 1880 5,301 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Don't miss this affordably priced 3 bedroom, 1 bath home in Red Lion Boro! Nice sized back yard & 1 car detached garage. Perfect for 1st time home buyers or keep it as a turn key rental. Come take a look!

Key facts

• Desirable location
• Central air
• Garage

Tags

• CENTRAL AIR
• RESIDENTIAL NEIGHBORHOOD
• POTENTIAL FOR RENOVATION
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $145k).
• Cap rate 24.7% vs local median 4.5% in Red Lion — 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 77/100 on livability (#349 in PA, #3,056 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Red Lion Area SD (suburban): math 36% / reading 50% proficiency, ranked #282 of 539 in PA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 147 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $4,132/mo this rent would consume 57% of the median local household income ($87k/yr) (locally 559% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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 $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1880 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.85% ✓
• Cap rate: 24.73%
• Cash-on-cash: 65.85%
• DSCR: 3.93
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 65.1%
• Equity multiple: 3.92×
• Total profit: $118,487
• Equity at exit: $21,620

10-year hold

• IRR: 69.4%
• Equity multiple: 8.05×
• Total profit: $286,233
• Equity at exit: $12,537

Cash invested: $40,600 (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 17356

• Home prices YoY: -21.0%
• Active inventory: 147
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $4,132 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$216 /mo · $2,586/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$868
• Net cashflow: $2,228

Break-even live

Break-even rent $1,312

Max offer price $145,000

Occupancy floor 41%

Sensitivity live

Price	-10% $2,310	-5% $2,269	+0% $2,228	+5% $2,187	+10% $2,146
Rent	-10% $1,902	-5% $2,065	+0% $2,228	+5% $2,391	+10% $2,554
Rate	-1.0pp $2,301	-0.5pp $2,265	base $2,228	+0.5pp $2,190	+1.0pp $2,152

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,131
Total (3 units)			$4,132

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 W High St Red Lion, PA	3.0	1.0	1075	$1,075	$1.00	21d	1	0.06mi
305 W Broadway Red Lion, PA	2.0	1.0	968	$1,395	$1.44	44d	1	0.33mi
21 E Lancaster St Red Lion, PA	2.0	1.0	900	$1,295	$1.44	44d	1	0.40mi
201 Burrows Rd Red Lion, PA	3.0	2.5	1485	$1,924	$1.30	14d	1	1.11mi
21 Windsor Way Red Lion, PA	3.0	2.0–2.5	1385	$2,150	$1.55	14d	8	1.41mi
118 W Main St Windsor, PA	2.0	1.0	1402	$1,150	$0.82	21d	1	1.42mi
306 Orchard Ct Red Lion, PA	2.0	1.5	1300	$1,495	$1.15	21d	1	1.47mi
361 E Maple St Dallastown, PA	2.0	1.0	750	$1,005	$1.34	21d	1	1.48mi

Listing history 18 events

1. 2026-04-06
   status Pending
2. 2026-03-31
   listed $145,000 Active
3. 2018-07-26
   soldstatus $79,900
4. 2018-07-23
   soldstatus $79,900 211-char remark

   Show marketing remark (211 chars)

   Don't miss this affordably priced 3 bedroom, 1 bath home in Red Lion Boro! Nice sized back yard & 1 car detached garage. Perfect for 1st time home buyers or keep it as a turn key rental. Come take a look!

5. 2018-06-07
   historical 211-char remark

   Show marketing remark (211 chars)

   Don't miss this affordably priced 3 bedroom, 1 bath home in Red Lion Boro! Nice sized back yard & 1 car detached garage. Perfect for 1st time home buyers or keep it as a turn key rental. Come take a look!

6. 2018-06-01
   listed $84,900 211-char remark

   Show marketing remark (211 chars)

   Don't miss this affordably priced 3 bedroom, 1 bath home in Red Lion Boro! Nice sized back yard & 1 car detached garage. Perfect for 1st time home buyers or keep it as a turn key rental. Come take a look!

7. 2006-08-14
   soldstatus $89,507
8. 2006-08-11
   soldstatus $89,507 378-char remark

   Show marketing remark (378 chars)

   Repainted and cleaned home in Red Lion Boro. Covered large front porch w/ awning. Deep rear yard w/ storage bldg & rear semidetach. alum. garage w/ no elec. at this time. Rear 1st floor ldry & covered 2nd flr. rear porch above. Carpet in LR, DR, & 3 BRs. Double door new refrigerator. Vacant, quick poss. 200 amp elec. New garage door to be installed on garage.

9. 2006-07-14
   historical 378-char remark

   Show marketing remark (378 chars)

   Repainted and cleaned home in Red Lion Boro. Covered large front porch w/ awning. Deep rear yard w/ storage bldg & rear semidetach. alum. garage w/ no elec. at this time. Rear 1st floor ldry & covered 2nd flr. rear porch above. Carpet in LR, DR, & 3 BRs. Double door new refrigerator. Vacant, quick poss. 200 amp elec. New garage door to be installed on garage.

10. 2006-07-12
    listed $89,507 378-char remark

    Show marketing remark (378 chars)

    Repainted and cleaned home in Red Lion Boro. Covered large front porch w/ awning. Deep rear yard w/ storage bldg & rear semidetach. alum. garage w/ no elec. at this time. Rear 1st floor ldry & covered 2nd flr. rear porch above. Carpet in LR, DR, & 3 BRs. Double door new refrigerator. Vacant, quick poss. 200 amp elec. New garage door to be installed on garage.

11. 2006-06-07
    soldstatus $59,000
12. 2006-06-06
    soldstatus $59,000
13. 2006-04-11
    historical
14. 2006-03-31
    listed $58,000
15. 2004-11-19
    historical
16. 2004-06-04
    listed $69,900
17. 1998-07-27
    soldstatus $72,900
18. 1993-08-04
    soldstatus $57,000

ⓘ 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: $2,586 · $216/mo
• Projected year-2 tax: $2,586 · $216/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 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,584
• − Mortgage interest: −$8,122
• − Property taxes: −$2,586
• − Insurance: −$725
• − Repairs & maintenance: −$3,967
• − Management: −$3,967
• − Depreciation: −$4,218
• Taxable income: $25,999
• Est. tax owed @ 24.0%: −$6,240
• After-tax cash flow: $20,496/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: Red Lion Area SD
• NCES district ID: 4220100
• Math proficiency: 36% ▼ -10.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,225
• Composite: 37.91/100
• National rank: #4313
• State rank: #282 of 539 in PA

Livability — Red Lion

• Score: 77/100
• State rank: #349
• US rank: #3056

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Lion, PA
• County: York County · 278,806 people
• City population: 22,869
• Metro: York-Hanover, PA
• Population (ZIP): 22,869
• Household income: $86,561
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 559.0

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 (89%)
• Race & ethnicity: White 89% Black 4% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 3% Serbian 2%
• Foreign-born: 4% · China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Chinese 1% 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: ▼ -69.16%
• Current HPI: 259.7294
• Rent YoY: —
• 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

+154.4% since first listed

18 events — show timeline

• 2026-04-06 Pending — BRIGHT MLS
• 2026-03-31 Listed $145,000 BRIGHT MLS
• 2018-07-26 Sold (Public Records) $79,900 Public Records
• 2018-07-23 Sold (MLS) $79,900 BRIGHT MLS
• 2018-06-07 Listing Removed — BRIGHT MLS
• 2018-06-01 Listed $84,900 BRIGHT MLS
• 2006-08-14 Sold (Public Records) $89,507 Public Records
• 2006-08-11 Sold (MLS) $89,507 BRIGHT MLS
• 2006-07-14 Listing Removed — BRIGHT MLS
• 2006-07-12 Listed $89,507 BRIGHT MLS
• 2006-06-07 Sold (Public Records) $59,000 Public Records
• 2006-06-06 Sold (MLS) $59,000 BRIGHT MLS
• 2006-04-11 Listing Removed — BRIGHT MLS
• 2006-03-31 Listed $58,000 BRIGHT MLS
• 2004-11-19 Listing Removed — BRIGHT MLS
• 2004-06-04 Listed $69,900 BRIGHT MLS
• 1998-07-27 Sold (Public Records) $72,900 Public Records
• 1993-08-04 Sold (Public Records) $57,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $2,586 · +3.0% YoY. Source: county tax records.