67 W Frederick St · Millersville, PA 17551

$308,000

4 bd · 1.5 ba · 1,918 sqft · SingleFamily public records · 42 Days on market

Built 1900 0.29 ac lot $161/sqft · 12% below area Est $351k · 12% 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 +13.0/15.0
• Cash flow +9.6/30.0
• Schools +5.1/10.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property will be offered at Public Auction on Thursday, June 18, 2026 @ 6pm. The listing price is the opening bid only and in no way reflects the final sale price. 10% down due at auction, 2% transfer tax to be paid by the purchaser, real estate taxes prorated. Parcel 1 (67 W. Frederick St) is well cared for and ready for a new family. It features a functional layout with a welcoming entryway, living room, spacious kitchen, and dining room on the first floor. The second floor offers four bedrooms and a full bathroom. The basement is currently unfinished, providing excellent potential for storage. Additional amenities include off-street parking accessed from an alley off N. Prince Stree

Key facts

• 0.29 acre lot
• Garage
• Built 1900

Property features AI

Finance

• Financial info: Fee simple ownership; Lease not considered

Exterior

• Parking: Detached garage (1 car) with additional storage area; One off-street parking space; Two total garage/parking spaces
• Utilities: Public water; Public sewer; Municipal trash service
• Home design: Detached property; Average condition; Not in a federal flood zone
• Construction: Brick/masonry construction; Slate roof; Permanent foundation; Garage structure present; Above-grade finished living area approximately 1,918
• Exterior features: Deck(s); Porch(es)

Interior

• Kitchen: Oven (single); Range hood; Refrigerator
• Bedrooms: Four bedrooms on the upper level
• Flooring: Hardwood; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Oil-fired heat; Electric hot water
• Interior features: Attic; Tub with shower; Ceiling fans; Formal separate dining room; Wood floors
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $308k.

Deal economics

• At list price, monthly cash flow is $-207 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (17.2% below list).
• Recommended offer: $255k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.0% in Millersville — 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 84/100 on livability (#101 in PA, #728 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Penn Manor SD (suburban): math 52% / reading 65% proficiency, ranked #80 of 539 in PA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Penn Manor Hs (math 82% / reading 30%, grade C, #90 of 437 statewide, top 21%, 1,783 students, 43% FRL) — zoned schools average 43% FRL vs 27% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• This rent runs 45% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $195k; list at $308k implies a 58% 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 $254,992 (17.2% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 10.1

CMA / ARV

• ARV (median comp): $351,028
• List price: $308,000
• Delta: -28.78%
• 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
134 Elizabeth St	0.22mi	3/1.5 (-1)	2,030 (+6%)	8mo	$280,000	$138	69
183 W Frederick St	0.27mi	4/2.0	1,718 (-10%)	10mo	$100,000	$58	60
44 W Cottage Ave	0.34mi	4/1.5	2,137 (+11%)	10mo	$385,000	$180	57
43 S Duke St	0.29mi	4/2.0	2,138 (+12%)	10mo	$310,000	$145	57
173 W Frederick St	0.25mi	3/1.5 (-1)	1,648 (-14%)	5mo	$335,000	$203	56
56 Brenner St	0.65mi	3/2.0 (-1)	2,031 (+6%)	1mo	$368,000	$181	52
50 Manor Oaks Dr	0.75mi	4/2.0	1,860 (-3%)	9mo	$385,000	$207	51
143 N Duke St	0.45mi	4/2.0	1,650 (-14%)	11mo	$380,000	$230	44
34 Manor Oaks Dr	0.66mi	3/2.0 (-1)	1,776 (-7%)	12mo	$350,000	$197	40
11 Landis Ave	0.72mi	3/2.5 (-1)	2,040 (+6%)	11mo	$320,000	$157	38
19 Manor Oaks Dr	0.59mi	3/2.5 (-1)	1,708 (-11%)	10mo	$400,000	$234	37
53 Brenner St	0.68mi	4/2.0	2,178 (+14%)	12mo	$369,900	$170	34

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: -21.1%
• Equity multiple: 0.27×
• Total profit: $-62,997
• Equity at exit: $45,924

10-year hold

• IRR: -14.4%
• Equity multiple: 0.17×
• Total profit: $-71,443
• Equity at exit: $26,630

Cash invested: $86,240 (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 17551

• Home prices YoY: -24.9%
• Active inventory: 51
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$1,615
• Tax from tax record: −$478 /mo · $5,735/yr
• Insurance: −$128
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-207

Break-even live

Break-even rent $2,812

Max offer price $271,435

Occupancy floor —

Sensitivity live

Price	-10% $-33	-5% $-120	+0% $-207	+5% $-294	+10% $-381
Rent	-10% $-408	-5% $-308	+0% $-207	+5% $-106	+10% $-6
Rate	-1.0pp $-52	-0.5pp $-129	base $-207	+0.5pp $-287	+1.0pp $-368

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: $77,000
• Closing costs: $9,240
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
345 Barbara St Millersville, PA	4.0	2.0	2000	$3,200	$1.60	15d	1	0.97mi
43 Baron Dr Lancaster, PA	3.0	2.0	1351	$2,125	$1.57	15d	7	1.29mi
1116 Williamsburg Rd Lancaster, PA	3.0	1.5	1400	$1,950	$1.39	15d	1	1.44mi

Listing history 17 events

1. 2026-06-21
   pricestatusdays on market $308,000 Pending 42 DOM
2. 2026-06-18
   days on market $250,000 Active 41 DOM
3. 2026-06-17
   days on market $250,000 Active 40 DOM
4. 2026-06-16
   days on market $250,000 Active 39 DOM
5. 2026-06-15
   days on market $250,000 Active 38 DOM
6. 2026-06-14
   days on market $250,000 Active 36 DOM
7. 2026-06-10
   days on market $250,000 Active 33 DOM
8. 2026-06-09
   days on market $250,000 Active 32 DOM
9. 2026-06-08
   days on market $250,000 Active 31 DOM
10. 2026-06-07
    days on market $250,000 Active 30 DOM
11. 2026-06-03
    days on market $250,000 Active 26 DOM
12. 2026-06-02
    days on market $250,000 Active 25 DOM
13. 2026-06-01
    days on market $250,000 Active 24 DOM
14. 2026-05-31
    days on market $250,000 Active 23 DOM
15. 2026-05-30
    days on market $250,000 Active 22 DOM
16. 2026-05-08
    listed $250,000 Active 748-char remark
17. 2012-12-11
    soldstatus $195,000

ⓘ 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: $5,735 · $478/mo
• Projected year-2 tax: $5,735 · $478/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 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,599
• − Mortgage interest: −$17,253
• − Property taxes: −$5,735
• − Insurance: −$1,540
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$8,960
• Taxable loss: −$7,784
• Est. tax savings @ 24.0%: +$1,868
• After-tax cash flow: $-616/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: Penn Manor SD
• NCES district ID: 4218630
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 65% ▼ -7.00%
• Median HH income: $59,275
• Composite: 50.67/100
• National rank: #1826
• State rank: #80 of 539 in PA

Livability — Millersville

• Score: 84/100
• State rank: #101
• US rank: #728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millersville, PA
• County: Lancaster County · 390,309 people
• City population: 11,753
• Metro: Lancaster, PA
• Population (ZIP): 11,753
• Household income: $68,661
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 454.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 561,011 people
• By 2030: 570,969 · +1.8%
• By 2040: 585,929 · +4.4%
• By 2050: 591,056 · +5.4%
• By 2075: 594,747 · +6.0%
• By 2100: 558,850 · -0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Asian 7% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6%
• Common ancestry: Romanian 4% Italian 3% Portuguese 2%
• Foreign-born: 8% · South Korea, Canada, India
• Languages at home: 87% English-only · Spanish 6% Other Indo-European 5% Chinese 1%

Political lean MEDSL · Lancaster

• 2024 margin: R (+15.9) · D 41.5% · R 57.5%
• 2008→2024 swing: -4.1pp toward R · 2008: -11.8pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.8 2016: R+19.7 2012: R+19.2 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.18%
• Current HPI: 257.5554
• Rent YoY: —
• Metro: Lancaster, 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

+28.2% since first listed

2 events — show timeline

• 2026-05-08 Listed $250,000 BRIGHT MLS
• 2012-12-11 Sold (Public Records) $195,000 Public Records

Property tax history

+4.7%/yr

Latest (2026): $5,735 · +6.0% YoY. Source: county tax records.