115 W Carpenter Ave · Myerstown, PA 17067

$69,999

3 bd · 1.5 ba · 1,398 sqft · Townhouse public records · 28 Days on market

Built 1904 4,356 sqft lot $50/sqft · 61% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PUBLIC AUCTION to be held ON-SITE Tuesday, May 12th at 5PM! Potential abound! Calling all investors! 3 BR, 1.5 Bath home with detached garage. Kleinfelter's Auction Terms - 10% Down Day of Sale. Buyer to pay for the Deed Prep, Both Sides of Transfer Tax and a 10% Buyers Premium. Being Sold AS-IS. Please call to schedule your showing today!

Key facts

• Garage
• Built 1904
• Listed 28 days

Property features AI

Exterior

• Parking: Detached rear-entry oversized garage (1 car); Off-street parking
• Utilities: Public water; Public sewer; 200+ amp electric service; Domestic hot water with oil and S/W changeover
• Home design: Semi-detached property
• Construction: Mixed construction materials; Permanent foundation; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone

Interior

• Kitchen: Kitchen (appliances not specified in data)
• Bedrooms: Three bedrooms on the upper level
• Flooring: Wood flooring; Tile/brick flooring
• Bathrooms: One full bathroom (upper level); One half bathroom (main level)
• Heating & cooling: Hot water heating; Oil-fired heating fuel; Window air conditioning units; Electric cooling power (window units)
• Interior features: Full basement with interior access and outside entrance; Assessor-listed living area source
• Laundry & utility: Main-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#491 in PA, #4,518 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Eastern Lebanon County SD (rural): math 27% / reading 50% proficiency, ranked #360 of 539 in PA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 315 units permitted in Lebanon County in 2024 (36 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lebanon County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1904 — 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 $68,949 (1.5% below list)

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.55% ✓
• Cap rate: 19.83%
• Cash-on-cash: 48.36%
• DSCR: 3.15
• GRM: 3.3

CMA / ARV

• ARV (median comp): $181,462
• List price: $69,999
• Delta: -61.42%
• 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
314 W Main Ave	0.26mi	3/1.5	1,368 (-2%)	4mo	$200,000	$146	81
312 W Main Ave	0.26mi	3/1.5	1,464 (+5%)	6mo	$180,500	$123	75
306 S Cherry St	0.38mi	3/1.5	1,415 (+1%)	12mo	$218,000	$154	70
324 S Broad St	0.48mi	3/1.5	1,372 (-2%)	6mo	$280,000	$204	70
20 E Carpenter Ave	0.29mi	3/2.0	1,396 (-0%)	20mo	$200,000	$143	67
16 W Maple Ave	0.27mi	3/1.5	1,290 (-8%)	10mo	$180,000	$140	66
136 W Washington Ave	0.16mi	3/1.0	1,494 (+7%)	19mo	$133,888	$90	63
109 E Mill Ave	0.46mi	2/1.5 (-1)	1,380 (-1%)	11mo	$220,000	$159	62
317 S Broad St	0.45mi	3/1.5	1,200 (-14%)	5mo	$199,900	$167	51
8 E Richland Ave	0.57mi	3/1.0	1,318 (-6%)	13mo	$175,000	$133	51
309 S Railroad St	0.28mi	4/2.0 (+1)	1,578 (+13%)	19mo	$210,000	$133	42
229 E Main Ave	0.47mi	2/1.5 (-1)	1,584 (+13%)	16mo	$196,000	$124	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.9%
• Equity multiple: 2.99×
• Total profit: $39,077
• Equity at exit: $10,437

10-year hold

• IRR: 51.8%
• Equity multiple: 6.06×
• Total profit: $99,255
• Equity at exit: $6,052

Cash invested: $19,600 (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 17067

• Active inventory: 65
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,783 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$222 /mo · $2,668/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $790

Break-even live

Break-even rent $783

Max offer price $69,999

Occupancy floor 51%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-01
   listed $69,999 Active 343-char remark

ⓘ 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: $2,668 · $222/mo
• Projected year-2 tax: $2,668 · $222/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 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $21,394
• − Mortgage interest: −$3,921
• − Property taxes: −$2,668
• − Insurance: −$350
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$2,036
• Taxable income: $8,996
• Est. tax owed @ 24.0%: −$2,159
• After-tax cash flow: $7,320/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: Eastern Lebanon County SD
• NCES district ID: 4208460
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 50% ▼ -9.00%
• Median HH income: $56,026
• Composite: 33.74/100
• National rank: #5371
• State rank: #360 of 539 in PA

Livability — Myerstown

• Score: 74/100
• State rank: #491
• US rank: #4518

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Myerstown, PA
• Population (ZIP): 15,985

Population outlook (Lebanon County) Hauer SSP2

• Today (2025): 144,806 people
• By 2030: 147,534 · +1.9%
• By 2040: 152,952 · +5.6%
• By 2050: 159,406 · +10.1%
• By 2075: 181,736 · +25.5%
• By 2100: 198,402 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Black 2% Two or more races 1%
• Common ancestry: Polish 3% Slovak 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 93% English-only · German/W. Germanic 5% Spanish 2%

Political lean MEDSL · Lebanon

• 2024 margin: Solid R (+32.0) · D 33.6% · R 65.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -18.9pp · 2024: -32.0pp
• All cycles: 2024: R+32.0 2020: R+31.7 2016: R+35.5 2012: R+28.0 2008: R+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.88%
• Current HPI: 252.0994
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-29 Pending — BRIGHT MLS
• 2026-05-01 Listed $69,999 BRIGHT MLS

Property tax history

+3.6%/yr

Latest (2026): $2,668 · +3.9% YoY. Source: county tax records.