16 S Ann St · Lancaster, PA 17602

$225,000

3 bd · 2.0 ba · 1,383 sqft · Townhouse public records · 90 Days on market

Built 1918 1,307 sqft lot $163/sqft · 9% below area Est $247k · 9% 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).

• Cash flow +12.7/30.0
• ARV discount +11.6/15.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring our vision! This 2 story 3 bed, 1.5 bath home, owned by the same family for 45+ years is ready for its next chapter! With over 2,000 square feet of living space, features include hardwood floors, tall ceilings, original woodwork, pocket doors and stained glass windows. Spacious layout with good sized bedrooms, galley kitchen and a brick wood burning fireplace. Additional highlights: closed in front porch with wrought iron fencing, fenced yard, stone foundation and newer furnace (approx. 2 years old). Basement offers washer/dryer hookup and a toilet (half bath setup). Being sold as is as part of an estate. Endless potential for the right buyer!

Key facts

• Pocket doors
• Tall ceilings
• Original woodwork

Tags

• HARDWOOD FLOORS
• TALL CEILINGS
• ORIGINAL WOODWORK
• POCKET DOORS
• STAINED GLASS WINDOWS
• CLOSED IN FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $-24 ($-292/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (16.1% below list).
• Recommended offer: $189k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.2% in Lancaster — 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 85/100 on livability (#71 in PA, #498 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment C-.
• Lancaster SD (urban): math 12% / reading 25% proficiency, ranked #500 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.2%/yr); 161 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 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.
• 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 90 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — 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 $188,694 (16.1% 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 90 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.84% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 9.9

CMA / ARV

• ARV (median comp): $247,313
• List price: $225,000
• Delta: -9.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
345 E Orange St	0.19mi	3/1.5	1,440 (+4%)	2mo	$535,000	$372	80
235 Howard Ave	0.37mi	3/2.0	1,327 (-4%)	1mo	$259,900	$196	75
211 E Chestnut St	0.40mi	3/1.5	1,429 (+3%)	1mo	$330,000	$231	73
1007 E Walnut St	0.66mi	3/2.0	1,360 (-2%)	0mo	$285,000	$210	66
627 E Madison St	0.44mi	4/2.5 (+1)	1,476 (+7%)	1mo	$300,000	$203	60
418 Green St	0.50mi	3/1.5	1,254 (-9%)	2mo	$215,000	$171	58
345-1/2 Beaver St	0.72mi	4/1.0 (+1)	1,382 (-0%)	2mo	$196,200	$142	56
524 Locust St	0.59mi	4/1.0 (+1)	1,444 (+4%)	1mo	$213,000	$148	56
137 S Duke St	0.46mi	2/1.5 (-1)	1,544 (+12%)	2mo	$429,000	$278	50
561 Burrowes Ave	0.69mi	3/1.0	1,272 (-8%)	1mo	$267,000	$210	50
521 Hamilton St	0.68mi	2/1.0 (-1)	1,295 (-6%)	1mo	$230,000	$178	48
39 W Farnum St	0.66mi	4/1.0 (+1)	1,564 (+13%)	0mo	$135,000	$86	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 · 1.2% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.34×
• Total profit: $-41,365
• Equity at exit: $33,548

10-year hold

• IRR: -15.7%
• Equity multiple: 0.19×
• Total profit: $-51,289
• Equity at exit: $19,454

Cash invested: $63,000 (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 17602

• Rents YoY: 1.2%
• Active inventory: 161
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,887 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$241 /mo · $2,896/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-24

Break-even live

Break-even rent $1,918

Max offer price $220,697

Occupancy floor 96%

Sensitivity live

Price	-10% $103	-5% $39	+0% $-24	+5% $-88	+10% $-152
Rent	-10% $-173	-5% $-99	+0% $-24	+5% $50	+10% $125
Rate	-1.0pp $89	-0.5pp $33	base $-24	+0.5pp $-83	+1.0pp $-142

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
225 E King St Unit 2 Lancaster, PA	2.0	2.5	1075	$2,600	$2.42	44d	1	0.29mi
225 E King St Unit 1 Lancaster, PA	2.0	1.0	957	$1,950	$2.04	14d	1	0.29mi
231 N Shippen St #224 Lancaster, PA	2.0	2.0	1155	$2,285	$1.98	14d	1	0.37mi
708 S Lime St Unit 3 Lancaster, PA	4.0	1.0	1742	$1,850	$1.06	44d	1	0.43mi
738 E Madison St Lancaster, PA	3.0	1.0	1102	$1,750	$1.59	44d	1	0.46mi
202 N Queen St Lancaster, PA	2.0	1.0–2.0	697	$2,718	$3.90	14d	12	0.64mi
537 Woodward St Lancaster, PA	3.0	2.0	1288	$1,650	$1.28	24d	1	0.65mi
549 Howard Ave Lancaster, PA	4.0	1.0	1439	$1,700	$1.18	44d	1	0.66mi
49 W Farnum St Lancaster, PA	3.0	1.0	1820	$1,650	$0.91	44d	1	0.69mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$4,703	$3.69	14d	48	0.72mi
345 1/2 Beaver St Lancaster, PA	4.0	1.0	1382	$2,095	$1.52	44d	1	0.74mi
404 Beaver St Lancaster, PA	3.0	1.0	1025	$1,425	$1.39	24d	1	0.78mi
214 W Strawberry St Lancaster, PA	3.0	1.0	1175	$1,345	$1.14	22d	1	0.81mi
631 E Frederick St Lancaster, PA	3.0	1.0	1830	$1,850	$1.01	44d	1	0.81mi
425 N Prince St Apt 206 Lancaster, PA	2.0	2.0	1138	$1,995	$1.75	44d	1	0.82mi
766 New Holland Ave Lancaster, PA	3.0	1.0	1152	$1,795	$1.56	14d	1	0.84mi
128 N Mulberry St Unit 1 Lancaster, PA	2.0	2.0	1500	$2,250	$1.50	24d	1	0.87mi
1216 Clark St Lancaster, PA	4.0	1.5	1270	$2,195	$1.73	14d	1	0.91mi
836 N Plum St Lancaster, PA	3.0	2.0	1602	$2,150	$1.34	14d	1	0.92mi
422 Hillside Ave Lancaster, PA	2.0	1.0	960	$1,245	$1.30	44d	1	0.96mi
513 Poplar St Lancaster, PA	3.0	1.5	1184	$1,695	$1.43	44d	1	0.97mi
37 E Filbert St Lancaster, PA	3.0	1.0	1002	$1,750	$1.75	44d	1	1.00mi
324 New Dorwart St Lancaster, PA	3.0	1.0	1020	$1,495	$1.47	14d	1	1.00mi
135 E Ross St Unit 2nd Floor Lancaster, PA	2.0	1.0	1000	$1,575	$1.57	14d	1	1.01mi
337 W Lemon St Unit 2 Lancaster, PA	3.0	1.0	1588	$1,895	$1.19	14d	1	1.02mi
701 Martha Ave Lancaster, PA	2.0	1.0–2.0	1096	$2,600	$2.37	14d	1	1.03mi
609 Saint Joseph St Lancaster, PA	4.0	2.0	1523	$1,695	$1.11	44d	1	1.06mi
433 W Walnut St Apt 2 Lancaster, PA	2.0	1.0	900	$1,840	$2.04	24d	1	1.07mi
529 Manor St Lancaster, PA	3.0	1.0	1434	$1,635	$1.14	14d	1	1.08mi
850 Highland Ave Lancaster, PA	2.0	1.0	1000	$1,300	$1.30	22d	1	1.13mi
816 N Prince St Lancaster, PA	1.0–2.0	1.0–2.0	794	$2,195	$2.76	14d	7	1.14mi
860 N Market St Lancaster, PA	3.0	2.0	1514	$1,850	$1.22	44d	1	1.15mi
2500 Hickory Dr Lancaster, PA	2.0	2.5	1711	$2,650	$1.55	14d	1	1.24mi
14 Coral St Lancaster, PA	3.0	1.5	1355	$1,525	$1.13	44d	1	1.24mi
520 W Frederick St Lancaster, PA	4.0	1.0	1713	$1,895	$1.11	44d	1	1.26mi
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	14d	1	1.31mi
741 Manor St Lancaster, PA	3.0	1.0	1200	$1,695	$1.41	44d	1	1.33mi
1013 Willow Street Pike Lancaster, PA	2.0	1.0	1144	$1,499	$1.31	14d	1	1.37mi
862 Pleasure Rd Lancaster, PA	3.0	1.5	1707	$2,300	$1.35	44d	1	1.37mi
40 Fairview Ave Lancaster, PA	3.0	1.0	1152	$1,700	$1.48	14d	1	1.37mi

Listing history 16 events

1. 2026-06-18
   days on market $225,000 Active 90 DOM
2. 2026-06-17
   days on market $225,000 Active 89 DOM
3. 2026-06-16
   days on market $225,000 Active 88 DOM
4. 2026-06-15
   days on market $225,000 Active 87 DOM
5. 2026-06-14
   days on market $225,000 Active 85 DOM
6. 2026-06-13
   days on market $225,000 Active 84 DOM
7. 2026-06-10
   days on market $225,000 Active 82 DOM
8. 2026-06-09
   days on market $225,000 Active 81 DOM
9. 2026-06-08
   days on market $225,000 Active 80 DOM
10. 2026-06-07
    days on market $225,000 Active 79 DOM
11. 2026-06-03
    days on market $225,000 Active 75 DOM
12. 2026-06-02
    days on market $225,000 Active 74 DOM
13. 2026-06-01
    days on market $225,000 Active 73 DOM
14. 2026-05-31
    days on market $225,000 Active 72 DOM
15. 2026-05-30
    days on market $225,000 Active 71 DOM
16. 2026-03-20
    listed $225,000 Active 657-char remark

    Show marketing remark (657 chars)

    Bring our vision! This 2 story 3 bed, 1.5 bath home, owned by the same family for 45+ years is ready for its next chapter! With over 2,000 square feet of living space, features include hardwood floors, tall ceilings, original woodwork, pocket doors and stained glass windows. Spacious layout with good sized bedrooms, galley kitchen and a brick wood burning fireplace. Additional highlights: closed in front porch with wrought iron fencing, fenced yard, stone foundation and newer furnace (approx. 2 years old). Basement offers washer/dryer hookup and a toilet (half bath setup). Being sold as is as part of an estate. Endless potential for the right buyer!

ⓘ 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: $2,896 · $241/mo
• Projected year-2 tax: $3,226 · $269/mo
• Expected delta: +$329/yr (+$27/mo · 11.4%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,643
• − Mortgage interest: −$12,603
• − Property taxes: −$2,896
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,811
• − Management: −$1,811
• − Depreciation: −$6,545
• Taxable loss: −$4,150
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $704/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: Lancaster SD
• NCES district ID: 4213140
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -13.00%
• Median HH income: $38,500
• Composite: 15.52/100
• National rank: #9301
• State rank: #500 of 539 in PA

Livability — Lancaster

• Score: 85/100
• State rank: #71
• US rank: #498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, PA
• County: Lancaster County · 390,309 people
• City population: 176,170
• Metro: Lancaster, PA
• Population (ZIP): 52,217
• Household income: $75,862
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1556.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Hispanic / Latino 32% Two or more races 12% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 21% Cuban 1% Dominican 4%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 70% English-only · Spanish 22% German/W. Germanic 2% French/Haitian/Cajun 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: ▼ -248.05%
• Current HPI: 288.9141
• Rent YoY: ▲ 1.20%
• 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

1 event — show timeline

• 2026-03-20 Listed $225,000 BRIGHT MLS

Property tax history

+0.8%/yr

Latest (2026): $2,896 · +3.3% YoY. Source: county tax records.