421 York St · Hanover, PA 17331

$160,000

4 bd · 1.0 ba · 1,924 sqft · Townhouse public records · 5 Days on market

Built 1914 2,117 sqft lot $83/sqft · 17% below area Est $192k · 17% under

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +7.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Use your $8,000 tax credit to buy this spacious row home. Updated furnace, relative maintenance free. Washer/dryer main level. Partially finished basement, lots ofcharm. Seller will consider the possibility of holding the mortgage for qualified applicants.

Key facts

• Garage
• Built 1914
• Listed 5 days

Property features AI

Finance

• Financial info: Taxes reported for 2025–2026

Exterior

• Parking: Detached rear-entry garage (1 car)
• Utilities: Public water; Public sewer; Electric service available
• Home design: Semi-detached property; Fee simple ownership
• Construction: Brick construction; Brick/mortar foundation; Built information per assessor
• Exterior features: Not in a federal flood zone; Above-grade and below-grade structures

Interior

• Bedrooms: 4 bedrooms on the upper level
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water and central heating; Natural gas heating and natural gas hot water; Window AC units
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.6% vs local median 3.9% in Hanover — 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 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.
• Market conditions: Rents rising fast (+4.7%/yr); 386 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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 $95k; list at $160k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $160,000

Questions for the listing agent

1. Built in 1914 — 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 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: 1.20% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 7.0

CMA / ARV

• ARV (median comp): $192,023
• List price: $160,000
• Delta: -16.68%
• 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
552 Locust St	0.20mi	3/2.5 (-1)	1,820 (-5%)	1mo	$257,900	$142	70
56 Coop Ln	0.70mi	3/2.5 (-1)	1,900 (-1%)	0mo	$285,000	$150	54
233 Frederick St	0.64mi	3/2.5 (-1)	1,928 (+0%)	6mo	$255,000	$132	53
111 S Center St	0.52mi	3/2.5 (-1)	1,790 (-7%)	4mo	$280,000	$156	50
31 S Center St	0.45mi	3/2.5 (-1)	1,710 (-11%)	4mo	$300,000	$175	46
222 N Franklin St	0.75mi	3/1.5 (-1)	1,795 (-7%)	2mo	$209,000	$116	46
517 Charles Ave	0.55mi	3/2.5 (-1)	1,696 (-12%)	2mo	$297,900	$176	42
524 Charles Ave	0.52mi	3/2.5 (-1)	1,730 (-10%)	9mo	$255,000	$147	41
418 Springbrook Ct	0.54mi	3/2.0 (-1)	1,648 (-14%)	4mo	$254,900	$155	39
54 Coop Ln	0.70mi	3/2.5 (-1)	1,720 (-11%)	0mo	$290,000	$169	38
97 Overlook Dr	0.72mi	4/2.5	1,696 (-12%)	3mo	$275,000	$162	38
144 Overlook Dr	0.65mi	3/2.5 (-1)	1,690 (-12%)	1mo	$295,000	$175	38

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-3,260
• Equity at exit: $23,857

10-year hold

• IRR: 9.7%
• Equity multiple: 1.81×
• Total profit: $36,293
• Equity at exit: $13,834

Cash invested: $44,800 (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: 386
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$839
• Tax from tax record: −$305 /mo · $3,665/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $303

Break-even live

Break-even rent $1,533

Max offer price $160,000

Occupancy floor 79%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Brookside Ave Hanover, PA	3.0	2.5	1625	$1,963	$1.21	21d	1	0.55mi
76 Brookside Ave Hanover, PA	3.0	2.5	1625	$1,906	$1.17	43d	1	0.55mi
88 Brookside Ave Hanover, PA	3.0	2.5	1625	$1,906	$1.17	43d	1	0.56mi
88 Brookside Ave Hanover, PA	3.0	2.5	1625	$1,963	$1.21	21d	1	0.56mi
28 McCosh St Hanover, PA	3.0	1.0	1800	$2,050	$1.14	13d	1	0.70mi
261 N Franklin St Unit 302 Hanover, PA	3.0	2.0	1398	$1,130	$0.81	43d	1	0.71mi
409 Carlisle St Unit A Hanover, PA	3.0	1.0	2372	$1,200	$0.51	13d	1	0.79mi
51 Overlook Dr Unit J Hanover, PA	3.0	2.5	1820	$2,120	$1.16	43d	1	0.86mi
51 Overlook Dr Unit F Hanover, PA	3.0	2.5	1820	$1,983	$1.09	43d	1	0.86mi
101 Pacer Dr Unit L Hanover, PA	3.0	2.5	1252	$1,901	$1.52	13d	1	0.86mi
101 Pacer Dr Unit K Hanover, PA	3.0	2.5	1252	$1,846	$1.47	43d	1	0.86mi
101 Pacer Dr Unit M Hanover, PA	3.0	2.5	1252	$1,751	$1.40	43d	1	0.86mi
22 Mustang Dr Hanover, PA	3.0	2.5	1625	$1,843	$1.13	43d	1	0.86mi
40 Mustang Dr Hanover, PA	4.0	2.5	1625	$1,843	$1.13	43d	1	0.87mi
20 Mustang Dr Hanover, PA	4.0	2.5	1625	$1,931	$1.19	43d	1	0.88mi
34 Overlook Dr Hanover, PA	3.0	2.5	1749	$2,000	$1.14	13d	1	0.88mi

Listing history 7 events

1. 2026-05-18
   listed $160,000 Active 759-char remark
2. 2026-04-27
   historical $160,000 759-char remark
3. 2010-07-08
   soldstatus $95,000
4. 2010-06-30
   soldstatus $95,000 256-char remark

   Show marketing remark (256 chars)

   Use your $8,000 tax credit to buy this spacious row home. Updated furnace, relative maintenance free. Washer/dryer main level. Partially finished basement, lots ofcharm. Seller will consider the possibility of holding the mortgage for qualified applicants.

5. 2010-04-30
   historical 256-char remark

   Show marketing remark (256 chars)

   Use your $8,000 tax credit to buy this spacious row home. Updated furnace, relative maintenance free. Washer/dryer main level. Partially finished basement, lots ofcharm. Seller will consider the possibility of holding the mortgage for qualified applicants.

6. 2009-07-03
   listed $97,900 256-char remark

   Show marketing remark (256 chars)

   Use your $8,000 tax credit to buy this spacious row home. Updated furnace, relative maintenance free. Washer/dryer main level. Partially finished basement, lots ofcharm. Seller will consider the possibility of holding the mortgage for qualified applicants.

7. 2008-10-01
   soldstatus $68,000

ⓘ 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: $3,665 · $305/mo
• Projected year-2 tax: $3,665 · $305/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: $23,000
• − Mortgage interest: −$8,962
• − Property taxes: −$3,665
• − Insurance: −$800
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$4,655
• Taxable income: $1,238
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $3,339/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

+135.3% since first listed

8 events — show timeline

• 2026-05-22 Pending — BRIGHT MLS
• 2026-05-18 Listed $160,000 BRIGHT MLS
• 2026-04-27 Coming Soon $160,000 BRIGHT MLS
• 2010-07-08 Sold (Public Records) $95,000 Public Records
• 2010-06-30 Sold (MLS) $95,000 BRIGHT MLS
• 2010-04-30 Listing Removed — BRIGHT MLS
• 2009-07-03 Listed $97,900 BRIGHT MLS
• 2008-10-01 Sold (Public Records) $68,000 Public Records

Property tax history

+1.9%/yr

Latest (2026): $3,665 · +1.8% YoY. Source: county tax records.