622 Lake St · Lancaster, PA 17603

$149,900

2 bd · 1.0 ba · 910 sqft · Townhouse public records · 29 Days on market

Built 1900 1,307 sqft lot $165/sqft · 13% below area Est $172k · 13% under

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Why this score? — see what drove the C 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 +21.8/30.0
• ARV discount +13.3/15.0
• DSCR +7.0/10.0
• 1% rule +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy this remodeled home with new kitchen and bath! Relax knowing that this home is upgraded and has all new flooring and paint - no home projects needed! Affordable housing awaits the new owner of this traditional home updated with modern conveniences.

Key facts

• Gas heat
• Lvp flooring
• Granite countertops

Tags

• LVP FLOORING
• GRANITE COUNTERTOPS
• GAS HEAT
• UNFINISHED ATTIC SPACE
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO SCHOOLS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available; Electric available
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Property in very good to good condition
• Construction: Brick and masonry construction; Permanent foundation; Building not winterized; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone; No tidal water

Interior

• Bedrooms: 2 bedrooms on the upper level
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Forced air heating; Natural gas heating fuel; Electric hot water
• Interior features: Two or more access exits; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 flat; 292 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $4k 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 29 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $85k; list at $150k implies a 77% 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 $147,651 (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. 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: 1.05% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

• ARV (median comp): $172,186
• List price: $149,900
• Delta: -12.94%
• 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
732-1/2 Marietta Ave	0.10mi	2/1.0	924 (+2%)	1mo	$177,000	$192	92
517 Manor St	0.25mi	2/1.0	902 (-1%)	1mo	$170,000	$188	86
432 W Marion St	0.29mi	2/1.0	876 (-4%)	1mo	$262,000	$299	79
917 Columbia Ave #412	0.38mi	2/2.0	908 (-0%)	1mo	$187,900	$207	77
621 Lake St	0.01mi	3/1.5 (+1)	1,012 (+11%)	3mo	$125,000	$124	71
917 Columbia Ave #223	0.38mi	2/2.0	945 (+4%)	2mo	$211,000	$223	70
826 Saint Joseph St	0.55mi	3/1.0 (+1)	936 (+3%)	2mo	$187,096	$200	63
830 Lake St	0.21mi	3/1.0 (+1)	1,040 (+14%)	3mo	$186,500	$179	59
420 Lafayette St	0.36mi	3/1.0 (+1)	1,014 (+11%)	2mo	$142,000	$140	58
71 Hershey Ave	0.64mi	2/1.0	986 (+8%)	2mo	$216,000	$219	54
408 Prospect St	0.72mi	2/1.0	840 (-8%)	1mo	$210,000	$250	53
743 Saint Joseph St	0.48mi	3/1.0 (+1)	1,014 (+11%)	2mo	$225,000	$222	52

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 · 0.47% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-13,372
• Equity at exit: $22,351

10-year hold

• IRR: -3.1%
• Equity multiple: 0.81×
• Total profit: $-7,767
• Equity at exit: $12,961

Cash invested: $41,972 (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 17603

• Rents YoY: 0.5%
• Active inventory: 292
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,573 high
• Mortgage (P&I): −$786
• Tax from tax record: −$161 /mo · $1,934/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $233

Break-even live

Break-even rent $1,278

Max offer price $149,900

Occupancy floor 80%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	14d	1	0.06mi
437 W Grant St Lancaster, PA	1.0	1.0	713	$1,795	$2.52	23d	1	0.26mi
437 W Grant St Unit 302 Lancaster, PA	1.0	1.0	650	$1,775	$2.73	23d	1	0.26mi
37 E Filbert St Lancaster, PA	3.0	1.0	1002	$1,750	$1.75	44d	1	0.34mi
433 W Walnut St Apt 2 Lancaster, PA	2.0	1.0	900	$1,840	$2.04	23d	1	0.42mi
475 Saint Joseph St Lancaster, PA	1.0	1.0	750	$1,000	$1.33	14d	1	0.43mi
35 N Mulberry St Unit 1st floor Lancaster, PA	1.0	1.0	700	$1,085	$1.55	44d	1	0.46mi
445 W Lemon St Unit 4 Lancaster, PA	1.0	1.5	540	$1,445	$2.68	23d	1	0.50mi
431 Fremont St Unit 4 Lancaster, PA	1.0	1.0	641	$1,095	$1.71	44d	1	0.54mi
324 New Dorwart St Lancaster, PA	3.0	1.0	1020	$1,495	$1.47	14d	1	0.54mi
323 N Mulberry St Unit 4 Lancaster, PA	1.0	1.0	600	$1,500	$2.50	14d	1	0.58mi
344 N Mulberry St Unit 2 Lancaster, PA	1.0	1.0	722	$1,065	$1.48	23d	1	0.59mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$3,199	$2.51	14d	48	0.59mi
227 N Prince St Lancaster, PA	1.0	1.0	483	$1,575	$3.26	14d	4	0.66mi
422 Hillside Ave Lancaster, PA	2.0	1.0	960	$1,245	$1.30	44d	1	0.68mi
202 N Queen St Lancaster, PA	2.0	1.0–2.0	697	$2,718	$3.90	14d	12	0.72mi
34 Conestoga St Unit 1 Lancaster, PA	2.0	1.0	671	$995	$1.48	21d	1	0.73mi
404 Beaver St Lancaster, PA	3.0	1.0	1025	$1,425	$1.39	23d	1	0.81mi
347 N Queen St Lancaster, PA	1.0	1.0	687	$2,025	$2.95	14d	10	0.82mi
38 E Walnut St Lancaster, PA	1.0	1.0	587	$1,495	$2.55	23d	1	0.83mi
506 N Queen St Unit 2 Lancaster, PA	1.0	1.0	556	$1,500	$2.70	14d	1	0.87mi
1127 Wabank St Lancaster, PA	1.0–2.0	1.0	760	$1,650	$2.17	23d	1	0.89mi
519 1/2 S Prince St Lancaster, PA	2.0	1.0	848	$1,550	$1.83	14d	1	0.89mi
114 E Lemon St Lancaster, PA	1.0	1.0	627	$1,347	$2.15	14d	2	0.93mi
446 N Duke St Unit 1R Lancaster, PA	1.0	1.0	580	$1,095	$1.89	44d	1	0.95mi
816 N Prince St Lancaster, PA	1.0–2.0	1.0–2.0	794	$2,195	$2.76	14d	7	0.97mi
480 Euclid Ave Lancaster, PA	1.0–2.0	1.0–1.5	830	$1,695	$2.04	44d	1	0.98mi
225 E King St Unit 2 Lancaster, PA	2.0	2.5	1075	$2,600	$2.42	44d	1	0.99mi
225 E King St Unit 1 Lancaster, PA	2.0	1.0	957	$1,950	$2.04	14d	1	0.99mi
1415 Spencer Ave Lancaster, PA	1.0–3.0	1.0–2.0	1181	$2,610	$2.21	14d	1	0.99mi
72 Howard Ave Lancaster, PA	2.0	1.0	572	$1,495	$2.61	21d	1	1.05mi
61 Howard Ave Apt 1 Lancaster, PA	2.0	1.0	650	$1,045	$1.61	44d	1	1.08mi
145 Chester St Fl REAR Lancaster, PA	1.0	1.0	800	$1,125	$1.41	14d	1	1.11mi
709 N Duke St Lancaster, PA	1.0	1.0	588	$1,550	$2.64	21d	1	1.12mi
721 N Duke St Unit 1 Lancaster, PA	1.0	1.0	850	$1,295	$1.52	14d	1	1.13mi
1633A Judie Ln Lancaster, PA	1.0–2.0	1.0–2.0	848	$1,698	$2.00	14d	13	1.22mi
850 Highland Ave Lancaster, PA	2.0	1.0	1000	$1,300	$1.30	21d	1	1.23mi
442 E King St Lancaster, PA	1.0	1.0	600	$925	$1.54	23d	1	1.24mi
135 E Ross St Unit 2nd Floor Lancaster, PA	2.0	1.0	1000	$1,575	$1.57	14d	1	1.26mi
250 Stone Mill Rd Lancaster, PA	1.0–3.0	1.0	1002	$1,462	$1.46	14d	1	1.35mi

Listing history 15 events

1. 2026-06-13
   statusdays on market $149,900 Pending 29 DOM
2. 2026-06-10
   days on market $149,900 Active 27 DOM
3. 2026-06-09
   days on market $149,900 Active 26 DOM
4. 2026-06-08
   days on market $149,900 Active 25 DOM
5. 2026-06-07
   days on market $149,900 Active 24 DOM
6. 2026-06-03
   days on market $149,900 Active 20 DOM
7. 2026-06-02
   days on market $149,900 Active 19 DOM
8. 2026-06-01
   days on market $149,900 Active 18 DOM
9. 2026-05-31
   days on market $149,900 Active 17 DOM
10. 2026-05-30
    days on market $149,900 Active 16 DOM
11. 2026-05-14
    listed $149,900 Active 736-char remark
12. 2020-02-28
    soldstatus $84,900 Closed 257-char remark

    Show marketing remark (257 chars)

    Enjoy this remodeled home with new kitchen and bath! Relax knowing that this home is upgraded and has all new flooring and paint - no home projects needed! Affordable housing awaits the new owner of this traditional home updated with modern conveniences.

13. 2020-02-21
    soldstatus $84,900
14. 2020-01-23
    status Pending 257-char remark

    Show marketing remark (257 chars)

    Enjoy this remodeled home with new kitchen and bath! Relax knowing that this home is upgraded and has all new flooring and paint - no home projects needed! Affordable housing awaits the new owner of this traditional home updated with modern conveniences.

15. 2019-11-20
    listed $84,900 Active 257-char remark

    Show marketing remark (257 chars)

    Enjoy this remodeled home with new kitchen and bath! Relax knowing that this home is upgraded and has all new flooring and paint - no home projects needed! Affordable housing awaits the new owner of this traditional home updated with modern conveniences.

ⓘ 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: $1,934 · $161/mo
• Projected year-2 tax: $2,151 · $179/mo
• Expected delta: +$217/yr (+$18/mo · 11.2%)

ⓘ 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: $18,870
• − Mortgage interest: −$8,397
• − Property taxes: −$1,934
• − Insurance: −$750
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$4,361
• Taxable income: $410
• Est. tax owed @ 24.0%: −$99
• After-tax cash flow: $2,693/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): 67,571
• Household income: $77,084
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2557.0

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 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 12% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 19% Cuban 1% Dominican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada, China, India
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 1% 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: ▼ -508.78%
• Current HPI: 289.3324
• Rent YoY: ▲ 0.47%
• 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

+76.6% since first listed

6 events — show timeline

• 2026-06-13 Pending — BRIGHT MLS
• 2026-05-14 Listed $149,900 BRIGHT MLS
• 2020-02-28 Sold (MLS) $84,900 BRIGHT MLS
• 2020-02-21 Sold (Public Records) $84,900 Public Records
• 2020-01-23 Pending — BRIGHT MLS
• 2019-11-20 Listed $84,900 BRIGHT MLS

Property tax history

-1.0%/yr

Latest (2026): $1,934 · +3.3% YoY. Source: county tax records.