212-214 Cherry St · Ephrata, PA 17522

$290,000

3 bd · 2.0 ba · 1,307 sqft · MultiFamily public records · 12 Days on market

Built 1954 3,485 sqft lot $222/sqft · at area comps Est $293k · at est.

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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 +7.9/15.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

A two unit home on a quiet street in Ephrata. This home also features a garage which is divided in two sections. The first floor rents the larger half and the current owner the smaller section. A turnkey operation that allows a new owner to start making income starting day one. Schedule your showing today.

Key facts

• New gutters
• Updated bathrooms
• New interior doors

Tags

• NEW ROOF
• NEW GUTTERS
• LOW MAINTENANCE FLOORING
• UPDATED BATHROOMS
• UPDATED KITCHENS
• NEW INTERIOR DOORS

Property features AI

Finance

• Other: Municipality: Ephrata Borough; Location type: Downtown; Road surface: Paved (boro/township responsibility); Finished above-grade area reported from assessor
• Financial info: Existing leases: month-to-month; Total actual rent reported: $23,400; Income includes apartment rentals and other income; Operating expense includes snow removal; Ground rent paid annually (if applicable)

Exterior

• Parking: On-street parking; Garage(s) listed as other structure
• Utilities: Public water; Public sewer; Electric service: 100 amp; Electric hot water; Electric heating fuel; Cable internet available; Phone service available
• Home design: Detached structure; Two total units; Condition: Very good; Ownership: Fee simple
• Construction: Frame construction with shingle siding; Shingle roof; Slab foundation; Replacement windows; Building not winterized; Built year source: Assessor
• Exterior features: Gutter system; Public trash service

Interior

• Kitchen: Built-in range; Stove
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Vinyl flooring
• Bathrooms: Bathrooms include tub/shower (details not specified)
• Heating & cooling: Baseboard heating (electric and hot water); Window AC unit(s)
• Interior features: Tub/shower; Drywall walls and ceilings; Six total rooms
• Laundry & utility: Washer; Dryer (electric); Electric water heater

What this means for you Summary

Snapshot

• This is a 1×3bd/2.0ba + 1×3bd/1.0ba units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive. Per door: $224/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Cap rate 8.1% vs local median 2.5% in Ephrata — 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 81/100 on livability (#175 in PA, #1,451 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Ephrata Area SD (suburban): math 43% / reading 57% proficiency, ranked #173 of 539 in PA (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.8%/yr); 115 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• At $2,921/mo this rent would consume 47% of the median local household income ($75k/yr) (locally 856% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 14y 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 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1954 — 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 B-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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (median comp): $292,825
• List price: $290,000
• Delta: -0.96%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212-214 Cherry St	0.00mi	3/2.0	1,307 (0%)	1mo	$292,000	$223	100
234 Church Ave	0.25mi	2/— (-1)	1,488 (+14%)	8mo	$245,000	$165	54
16 E King St	0.66mi	3/2.0	1,386 (+6%)	15mo	$287,000	$207	47

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 · 1.83% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-21,866
• Equity at exit: $43,240

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $3,942
• Equity at exit: $25,074

Cash invested: $81,200 (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 17522

• Rents YoY: 1.8%
• Active inventory: 115
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $2,921 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$217 /mo · $2,609/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $449

Break-even live

Break-even rent $2,353

Max offer price $290,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,460
1× unit	3	1	$1,460
Total (2 units)			$2,921

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 E Main St Apt 4 Ephrata, PA	2.0	1.0	1100	$1,150	$1.05	43d	1	0.21mi
46 E Main St Apt 6 Ephrata, PA	2.0	1.0	926	$1,190	$1.29	43d	1	0.21mi
610 E Main St Unit C Ephrata, PA	2.0	1.0	900	$1,200	$1.33	43d	1	0.59mi

Listing history 21 events

1. 2026-05-14
   listed $290,000 Active 787-char remark
2. 2023-03-07
   soldstatus $250,000
3. 2023-03-06
   soldstatus $250,000 Closed 307-char remark

   Show marketing remark (307 chars)

   A two unit home on a quiet street in Ephrata. This home also features a garage which is divided in two sections. The first floor rents the larger half and the current owner the smaller section. A turnkey operation that allows a new owner to start making income starting day one. Schedule your showing today.

4. 2023-01-05
   status Pending 307-char remark

   Show marketing remark (307 chars)

   A two unit home on a quiet street in Ephrata. This home also features a garage which is divided in two sections. The first floor rents the larger half and the current owner the smaller section. A turnkey operation that allows a new owner to start making income starting day one. Schedule your showing today.

5. 2023-01-01
   listed $250,000 Active 307-char remark

   Show marketing remark (307 chars)

   A two unit home on a quiet street in Ephrata. This home also features a garage which is divided in two sections. The first floor rents the larger half and the current owner the smaller section. A turnkey operation that allows a new owner to start making income starting day one. Schedule your showing today.

6. 2020-06-03
   listed $114,000
7. 2020-06-01
   soldstatus $114,000
8. 2020-06-01
   soldstatus $114,000
9. 2020-01-31
   historical
10. 2020-01-31
    historical
11. 2020-01-09
    listed $164,900 Active
12. 2019-12-13
    listed $164,900 Active
13. 2019-11-08
    soldstatus $160,333
14. 2014-03-23
    historical
15. 2014-03-22
    historical
16. 2013-10-02
    listed $144,700
17. 2013-10-02
    listed $144,700
18. 2012-10-04
    soldstatus $90,000
19. 2012-09-30
    soldstatus $90,000
20. 2012-08-29
    historical
21. 2012-05-31
    listed $99,500

ⓘ 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: $2,609 · $217/mo
• Projected year-2 tax: $3,595 · $300/mo
• Expected delta: +$987/yr (+$82/mo · 37.8%)

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,052
• − Mortgage interest: −$16,245
• − Property taxes: −$2,609
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,804
• − Management: −$2,804
• − Depreciation: −$8,436
• Taxable income: $704
• Est. tax owed @ 24.0%: −$169
• After-tax cash flow: $5,214/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: Ephrata Area SD
• NCES district ID: 4209270
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 57% ▼ -9.00%
• Median HH income: $54,320
• Composite: 43.14/100
• National rank: #3078
• State rank: #173 of 539 in PA

Livability — Ephrata

• Score: 81/100
• State rank: #175
• US rank: #1451

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ephrata, PA
• County: Lancaster County · 390,309 people
• City population: 33,852
• Metro: Lancaster, PA
• Population (ZIP): 33,852
• Household income: $74,828
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 856.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Slovak 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 88% English-only · German/W. Germanic 4% Spanish 4% Russian/Polish/Slavic 2%

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: ▼ -199.30%
• Current HPI: 269.6157
• Rent YoY: ▲ 1.83%
• 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

+193.5% since first listed

24 events — show timeline

• 2026-06-03 Sold (Public Records) $292,000 Public Records
• 2026-06-01 Sold (MLS) $292,000 BRIGHT MLS
• 2026-05-26 Pending — BRIGHT MLS
• 2026-05-14 Listed $290,000 BRIGHT MLS
• 2023-03-07 Sold (Public Records) $250,000 Public Records
• 2023-03-06 Sold (MLS) $250,000 BRIGHT MLS
• 2023-01-05 Pending — BRIGHT MLS
• 2023-01-01 Listed $250,000 BRIGHT MLS
• 2020-06-03 Listed $114,000 BRIGHT MLS
• 2020-06-01 Sold (Public Records) $114,000 Public Records
• 2020-06-01 Sold (MLS) $114,000 BRIGHT MLS
• 2020-01-31 Listing Removed — BRIGHT MLS
• 2020-01-31 Listing Removed — BRIGHT MLS
• 2020-01-09 Listed $164,900 BRIGHT MLS
• 2019-12-13 Listed $164,900 BRIGHT MLS
• 2019-11-08 Sold (Public Records) $160,333 Public Records
• 2014-03-23 Listing Removed — BRIGHT MLS
• 2014-03-22 Listing Removed — BRIGHT MLS
• 2013-10-02 Listed $144,700 BRIGHT MLS
• 2013-10-02 Listed $144,700 BRIGHT MLS
• 2012-10-04 Sold (Public Records) $90,000 Public Records
• 2012-09-30 Sold (MLS) $90,000 BRIGHT MLS
• 2012-08-29 Listing Removed — BRIGHT MLS
• 2012-05-31 Listed $99,500 BRIGHT MLS

Property tax history

+3.8%/yr

Latest (2026): $2,609 · +5.0% YoY. Source: county tax records.