346 Centennial Ave · Hanover, PA 17331

$219,995

2 bd · 2.0 ba · 1,140 sqft · SingleFamily public records · 22 Days on market

Built 1990 5,001 sqft lot $193/sqft · 51% above area Est $273k · 19% under

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Why this score? — see what drove the F 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 +4.5/30.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is an adorable home that will be a great starter home or perfect for those looking to downsize into something more reasonable to manage. Everyone has a different stage in their life and this home is very affordable for many. It was built in 1990 and has an open Living room, Dining room and kitchen concept. There are 2 bedrooms on the first level and the washer and dryer are on the main level too! The basement is finished with a family room, full bath, and 2 additional rooms that could be used for your liking. Lots of storage for your growing needs and all the appliances convey (and furniture if you like) . AND who doesnt love a nice deep garage???? This home comes with a lovely front porch, rear deck and maintenance free exterior! Love the Crepe Myrtle too!!!

Key facts

• Near shopping
• Near restaurants
• Near parks

Tags

• WELL-LOCATED OPPORTUNITY
• FUNCTIONAL LAYOUT
• NEAR SHOPPING
• NEAR RESTAURANTS
• NEAR PARKS
• NEAR COMMUTER ROUTES

Property features AI

Exterior

• Parking: Front-entry attached garage (1 garage space); Driveway parking (1 space); Two total garage/parking spaces
• Utilities: Public water; Public sewer; 200+ amp electric service; Natural gas for heating and hot water
• Home design: Detached property; Above-grade and below-grade living areas
• Construction: Vinyl and aluminum siding; Block foundation
• Exterior features: Wood fencing; Not in a federal flood zone; Ground rent paid annually

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Fully finished basement; Estimated living area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-567 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (45.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (39.6% below list).
• Recommended offer: $120k (45.6% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Hanover Street El Sch (math 37% / reading 62%, grade D, #654 of 1,518 statewide, top 47%, 252 students, 80% FRL); Hanover Ms (math 22% / reading 48%, grade F, #322 of 512 statewide, top 64%, 615 students, 69% FRL); Hanover Shs (math 67%, 585 students, 64% FRL) — zoned schools average 71% FRL vs 49% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 391 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $155k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $119,787 (45.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.60% ✗
• Cap rate: 3.20%
• Cash-on-cash: -11.05%
• DSCR: 0.51
• GRM: 13.8

CMA / ARV

• ARV (median comp): $272,903
• List price: $219,995
• Delta: -19.39%
• 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
77 2nd Ave	0.37mi	3/2.0 (+1)	1,152 (+1%)	2mo	$185,000	$161	75
303 W Walnut St	0.37mi	3/1.0 (+1)	1,152 (+1%)	0mo	$95,000	$82	72
541 S Franklin St	0.27mi	3/1.0 (+1)	1,124 (-1%)	6mo	$220,000	$196	71
9 Lafayette St	0.28mi	3/1.0 (+1)	1,104 (-3%)	10mo	$239,900	$217	64
221 Locust St	0.48mi	2/1.0	1,176 (+3%)	9mo	$200,000	$170	61
15 Westminster Ave	0.64mi	3/2.0 (+1)	1,104 (-3%)	3mo	$221,000	$200	57
832 Hartman Ave	0.75mi	3/1.0 (+1)	1,134 (-0%)	0mo	$251,000	$221	55
538 York St	0.52mi	3/1.5 (+1)	1,237 (+8%)	1mo	$245,000	$198	54
400 Wirt Ave	0.64mi	3/1.0 (+1)	1,124 (-1%)	7mo	$255,000	$227	53
522 S High St	0.33mi	3/1.0 (+1)	988 (-13%)	2mo	$244,900	$248	52
537 Baer Ave	0.62mi	2/1.5	1,056 (-7%)	8mo	$202,000	$191	50
324 E Pleasant St	0.63mi	2/1.5	1,294 (+14%)	6mo	$235,000	$182	41

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: -34.4%
• Equity multiple: -0.13×
• Total profit: $-69,430
• Equity at exit: $32,802

10-year hold

• IRR: -34.2%
• Equity multiple: -0.58×
• Total profit: $-97,029
• Equity at exit: $19,021

Cash invested: $61,599 (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: 391
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$371 /mo · $4,451/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-567

Break-even live

Break-even rent $2,046

Max offer price $119,787

Occupancy floor —

Sensitivity live

Price	-10% $-443	-5% $-505	+0% $-567	+5% $-630	+10% $-692
Rent	-10% $-672	-5% $-620	+0% $-567	+5% $-515	+10% $-462
Rate	-1.0pp $-456	-0.5pp $-511	base $-567	+0.5pp $-624	+1.0pp $-682

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: $54,999
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 E Middle St Apt A Hanover, PA	1.0	1.0	700	$1,400	$2.00	15d	1	0.35mi
342 E Walnut St Unit 29 Hanover, PA	2.0	1.0	700	$945	$1.35	22d	1	0.73mi
261 N Franklin St Unit 302 Hanover, PA	3.0	2.0	1398	$1,130	$0.81	45d	1	0.74mi
261 N Franklin St Unit 212 Hanover, PA	2.0	1.0	1187	$1,139	$0.96	22d	1	0.74mi
514 Broadway Unit 1st Floor Hanover, PA	2.0	1.0	1130	$1,320	$1.17	15d	1	0.86mi
11 Penn St Unit 2nd Fl Hanover, PA	2.0	1.0	1000	$1,050	$1.05	15d	1	0.95mi
807 W Alvin St Unit 835 Hanover, PA	2.0	1.0	700	$1,000	$1.43	22d	1	0.95mi
807 W Alvin St Hanover, PA	1.0–2.0	1.0	625	$1,000	$1.60	15d	2	0.96mi
101 Pacer Dr Unit L Hanover, PA	3.0	2.5	1252	$1,901	$1.52	15d	1	1.06mi
101 Pacer Dr Unit K Hanover, PA	3.0	2.5	1252	$1,846	$1.47	45d	1	1.06mi
101 Pacer Dr Unit M Hanover, PA	3.0	2.5	1252	$1,751	$1.40	45d	1	1.06mi
285 South St Hanover, PA	3.0	1.5	1000	$1,350	$1.35	15d	1	1.41mi

Listing history 17 events

1. 2026-06-03
   days on market $219,995 Active 22 DOM
2. 2026-06-02
   days on market $219,995 Active 21 DOM
3. 2026-06-01
   days on market $219,995 Active 20 DOM
4. 2026-05-31
   days on market $219,995 Active 19 DOM
5. 2026-05-30
   days on market $219,995 Active 18 DOM
6. 2026-05-12
   listed $219,995 Active 514-char remark
7. 2020-10-28
   soldstatus $155,000 Closed 774-char remark

   Show marketing remark (774 chars)

   This is an adorable home that will be a great starter home or perfect for those looking to downsize into something more reasonable to manage. Everyone has a different stage in their life and this home is very affordable for many. It was built in 1990 and has an open Living room, Dining room and kitchen concept. There are 2 bedrooms on the first level and the washer and dryer are on the main level too! The basement is finished with a family room, full bath, and 2 additional rooms that could be used for your liking. Lots of storage for your growing needs and all the appliances convey (and furniture if you like) . AND who doesnt love a nice deep garage???? This home comes with a lovely front porch, rear deck and maintenance free exterior! Love the Crepe Myrtle too!!!

8. 2020-10-28
   soldstatus $155,000

   Show marketing remark (774 chars)

   This is an adorable home that will be a great starter home or perfect for those looking to downsize into something more reasonable to manage. Everyone has a different stage in their life and this home is very affordable for many. It was built in 1990 and has an open Living room, Dining room and kitchen concept. There are 2 bedrooms on the first level and the washer and dryer are on the main level too! The basement is finished with a family room, full bath, and 2 additional rooms that could be used for your liking. Lots of storage for your growing needs and all the appliances convey (and furniture if you like) . AND who doesnt love a nice deep garage???? This home comes with a lovely front porch, rear deck and maintenance free exterior! Love the Crepe Myrtle too!!!

9. 2020-09-04
   status Pending 774-char remark

   Show marketing remark (774 chars)

   This is an adorable home that will be a great starter home or perfect for those looking to downsize into something more reasonable to manage. Everyone has a different stage in their life and this home is very affordable for many. It was built in 1990 and has an open Living room, Dining room and kitchen concept. There are 2 bedrooms on the first level and the washer and dryer are on the main level too! The basement is finished with a family room, full bath, and 2 additional rooms that could be used for your liking. Lots of storage for your growing needs and all the appliances convey (and furniture if you like) . AND who doesnt love a nice deep garage???? This home comes with a lovely front porch, rear deck and maintenance free exterior! Love the Crepe Myrtle too!!!

10. 2020-08-31
    listed $155,000 Active 774-char remark

    Show marketing remark (774 chars)

    This is an adorable home that will be a great starter home or perfect for those looking to downsize into something more reasonable to manage. Everyone has a different stage in their life and this home is very affordable for many. It was built in 1990 and has an open Living room, Dining room and kitchen concept. There are 2 bedrooms on the first level and the washer and dryer are on the main level too! The basement is finished with a family room, full bath, and 2 additional rooms that could be used for your liking. Lots of storage for your growing needs and all the appliances convey (and furniture if you like) . AND who doesnt love a nice deep garage???? This home comes with a lovely front porch, rear deck and maintenance free exterior! Love the Crepe Myrtle too!!!

11. 2005-10-11
    soldstatus $160,000
12. 1999-10-01
    soldstatus $85,000
13. 1999-09-24
    soldstatus $85,000

    Show marketing remark (175 chars)

    IDEAL LOCATION IN HANOVER BOROUGH. WALK TO DOWNTOWN SHOPPING, ETC. VERY CONVENIENT FLOOR PLAN WITH TWO NICE SIZE BEDROOMS AND FIRST FLOOR LAUNDRY. NICELY LANDSCAPED GROUNDS. |

14. 1999-08-11
    historical

    Show marketing remark (175 chars)

    IDEAL LOCATION IN HANOVER BOROUGH. WALK TO DOWNTOWN SHOPPING, ETC. VERY CONVENIENT FLOOR PLAN WITH TWO NICE SIZE BEDROOMS AND FIRST FLOOR LAUNDRY. NICELY LANDSCAPED GROUNDS. |

15. 1999-07-10
    listed $84,900

    Show marketing remark (175 chars)

    IDEAL LOCATION IN HANOVER BOROUGH. WALK TO DOWNTOWN SHOPPING, ETC. VERY CONVENIENT FLOOR PLAN WITH TWO NICE SIZE BEDROOMS AND FIRST FLOOR LAUNDRY. NICELY LANDSCAPED GROUNDS. |

16. 1990-10-02
    soldstatus $92,900
17. 1990-02-06
    soldstatus $17,000

ⓘ 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: $4,451 · $371/mo
• Projected year-2 tax: $4,451 · $371/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 4/10 Moderate 8% 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: $15,934
• − Mortgage interest: −$12,323
• − Property taxes: −$4,451
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$6,400
• Taxable loss: −$10,889
• Est. tax savings @ 24.0%: +$2,613
• After-tax cash flow: $-4,194/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: 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

+1194.1% since first listed

13 events — show timeline

• 2026-06-05 Listing Removed — BRIGHT MLS
• 2026-05-12 Listed $219,995 BRIGHT MLS
• 2020-10-28 Sold (Public Records) $155,000 Public Records
• 2020-10-28 Sold (MLS) $155,000 BRIGHT MLS
• 2020-09-04 Pending — BRIGHT MLS
• 2020-08-31 Listed $155,000 BRIGHT MLS
• 2005-10-11 Sold (Public Records) $160,000 Public Records
• 1999-10-01 Sold (Public Records) $85,000 Public Records
• 1999-09-24 Sold (MLS) $85,000 BRIGHT MLS
• 1999-08-11 Listing Removed — BRIGHT MLS
• 1999-07-10 Listed $84,900 BRIGHT MLS
• 1990-10-02 Sold (Public Records) $92,900 Public Records
• 1990-02-06 Sold (Public Records) $17,000 Public Records

Property tax history

+1.9%/yr

Latest (2026): $4,451 · +1.8% YoY. Source: county tax records.