121 W King St · Chambersburg, PA 17201

$145,000

6 bd · 2.0 ba · 1,866 sqft · Other · 30 Days on market

Built 1900 3,049 sqft lot $78/sqft · 22% below area Est $187k · 22% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTMENT OPPORTUNITY! This 2 unit building features: possibility of 3 bedrooms in each unit; kitchen & full bath on each level; separated electric with circuit breakers; separated natural gas; off street parking; and more. Convenient borough location with a back yard that backs to cemetery. NOTE: This property can be purchased by itself or part of a tri-plex package. .. see MLS# PAFL2034726. It will need renovations and will not qualify for Government backed loans. Property is being sold "AS-IS".

Key facts

• Off street parking
• 2 unit building
• Separated electric

Tags

• 2 UNIT BUILDING
• KITCHEN ON EACH LEVEL
• FULL BATH ON EACH LEVEL
• SEPARATED ELECTRIC
• SEPARATED NATURAL GAS
• OFF STREET PARKING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Circuit breaker electric; Municipal trash service
• Home design: Semi-detached structure; Ownership is fee simple
• Construction: Brick construction; Stone foundation; Building not winterized; Above-grade and below-grade structures
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the main level; Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms total; One full bathroom on the main level; One full bathroom on the first upper level
• Heating & cooling: Natural gas heating; Electric hot water
• Interior features: Estimated living area; Basement with connecting stairway

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.9% in Chambersburg — 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 74/100 on livability (#530 in PA, #4,894 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime D, employment D.
• Chambersburg Area SD (other): math 26% / reading 48% proficiency, ranked #383 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chambersburg Area Ms - North (math 18% / reading 52%, grade F, #322 of 512 statewide, top 64%, 1,045 students, 63% FRL); Chambersburg Area Shs (math 46% / reading 10%, grade F, #362 of 437 statewide, top 83%, 2,348 students, 60% FRL) — zoned schools average 62% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).
• This rent runs 40% of the median local income ($61k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.41% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.26%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $186,931
• List price: $145,000
• Delta: -22.43%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.37% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.57×
• Total profit: $23,015
• Equity at exit: $21,620

10-year hold

• IRR: 23.7%
• Equity multiple: 3.17×
• Total profit: $88,305
• 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 17201

• Home prices YoY: -20.3%
• Rents YoY: 4.4%
• Active inventory: 162
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,051 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $685

Break-even live

Break-even rent $1,183

Max offer price $145,000

Occupancy floor 62%

Sensitivity live

Price	-10% $768	-5% $726	+0% $685	+5% $644	+10% $603
Rent	-10% $523	-5% $604	+0% $685	+5% $766	+10% $847
Rate	-1.0pp $758	-0.5pp $722	base $685	+0.5pp $648	+1.0pp $610

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 W Commerce St Chambersburg, PA	5.0	2.0	2500	$2,000	$0.80	44d	1	0.42mi

Listing history 16 events

1. 2026-06-12
   statusdays on market $145,000 Pending 30 DOM
2. 2026-06-09
   days on market $145,000 Active 28 DOM
3. 2026-06-08
   days on market $145,000 Active 27 DOM
4. 2026-06-07
   days on market $145,000 Active 26 DOM
5. 2026-06-03
   days on market $145,000 Active 22 DOM
6. 2026-06-02
   days on market $145,000 Active 21 DOM
7. 2026-06-01
   days on market $145,000 Active 20 DOM
8. 2026-05-31
   days on market $145,000 Active 19 DOM
9. 2026-05-30
   days on market $145,000 Active 18 DOM
10. 2026-05-12
    listed $145,000 Active 521-char remark

    Show marketing remark (521 chars)

    INVESTMENT OPPORTUNITY! This 2 unit building features: possibility of 3 bedrooms in each unit; kitchen & full bath on each level; separated electric with circuit breakers; separated natural gas; off street parking; and more. Convenient borough location with a back yard that backs to cemetery. NOTE: This property can be purchased by itself or part of a tri-plex package. .. see MLS# PAFL2034726. It will need renovations and will not qualify for Government backed loans. Property is being sold "AS-IS".

11. 2026-05-12
    listed $145,000 Active 521-char remark

    Show marketing remark (521 chars)

    INVESTMENT OPPORTUNITY! This 2 unit building features: possibility of 3 bedrooms in each unit; kitchen & full bath on each level; separated electric with circuit breakers; separated natural gas; off street parking; and more. Convenient borough location with a back yard that backs to cemetery. NOTE: This property can be purchased by itself or part of a tri-plex package. .. see MLS# PAFL2034726. It will need renovations and will not qualify for Government backed loans. Property is being sold "AS-IS".

12. 2022-01-11
    soldstatus $146,000
13. 2014-07-31
    soldstatus $60,000
14. 2000-10-31
    soldstatus $76,000
15. 2000-08-23
    historical
16. 2000-08-15
    listed $75,000

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,830 · $152/mo
• Expected delta: +$462/yr (+$38/mo · 33.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,611
• − Mortgage interest: −$8,122
• − Property taxes: −$1,368
• − Insurance: −$725
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$4,218
• Taxable income: $6,240
• Est. tax owed @ 24.0%: −$1,498
• After-tax cash flow: $6,728/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: Chambersburg Area SD
• NCES district ID: 4205550
• Math proficiency: 26% ▼ -17.00%
• Reading proficiency: 48% ▼ -16.00%
• Median HH income: $52,666
• Composite: 32.17/100
• National rank: #5787
• State rank: #383 of 539 in PA

Livability — Chambersburg

• Score: 74/100
• State rank: #530
• US rank: #4894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chambersburg, PA
• County: Franklin County · 56,916 people
• City population: 27,554
• Metro: Chambersburg-Waynesboro, PA
• Population (ZIP): 27,554
• Household income: $61,234
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1306.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 157,827 people
• By 2030: 158,933 · +0.7%
• By 2040: 159,060 · +0.8%
• By 2050: 155,132 · -1.7%
• By 2075: 138,545 · -12.2%
• By 2100: 112,321 · -28.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 18% Black 8% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2% Dominican 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 85% English-only · Spanish 13% French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+43.0) · D 28.1% · R 71.1%
• 2008→2024 swing: -10.4pp toward R · 2008: -32.6pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+43.1 2016: R+46.5 2012: R+38.5 2008: R+32.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.07%
• Current HPI: 247.913
• Rent YoY: ▲ 4.37%
• Metro: Chambersburg-Waynesboro, 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

+93.3% since first listed

9 events — show timeline

• 2026-06-11 Pending — BRIGHT MLS
• 2026-06-11 Pending — BRIGHT MLS
• 2026-05-12 Listed $145,000 BRIGHT MLS
• 2026-05-12 Listed $145,000 BRIGHT MLS
• 2022-01-11 Sold (Public Records) $146,000 Public Records
• 2014-07-31 Sold (Public Records) $60,000 Public Records
• 2000-10-31 Sold (MLS) $76,000 MRIS
• 2000-08-23 Delisted — MRIS
• 2000-08-15 Listed $75,000 MRIS

Property tax history

+15.1%/yr

Latest (2026): $1,368 · +2.0% YoY. Source: county tax records.