416 W Main St · Waynesboro, PA 17268

$195,000

4 bd · 2.0 ba · 1,856 sqft · Other · 125 Days on market

Built 1920 10,019 sqft lot $105/sqft · 16% below area Est $233k · 16% 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 +20.1/30.0
• ARV discount +14.9/15.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

Key facts

• 0.23 acre lot
• Built 1920
• Listed 125 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $195k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.8% in Waynesboro — 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 78/100 on livability (#280 in PA, #2,482 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, commute F.
• Waynesboro Area SD (town): math 36% / reading 52% proficiency, ranked #283 of 539 in PA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 230 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); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).
• This rent runs 32% of the median local income ($73k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.01% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $233,353
• List price: $195,000
• Delta: -16.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-16,241
• Equity at exit: $29,075

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $5,670
• Equity at exit: $16,860

Cash invested: $54,600 (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 17268

• Active inventory: 230
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,977 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$217 /mo · $2,604/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $241

Break-even live

Break-even rent $1,672

Max offer price $195,000

Occupancy floor 83%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Ridge Ave Waynesboro, PA	3.0	1.0	1300	$1,500	$1.15	43d	1	0.30mi
457 Frick Ave Waynesboro, PA	3.0	2.5	2193	$2,200	$1.00	21d	1	0.42mi
23 Philadelphia Ave Waynesboro, PA	3.0	3.0	1985	$2,200	$1.11	43d	1	0.54mi

Listing history 33 events

1. 2026-06-18
   days on market $195,000 Active 125 DOM
2. 2026-06-17
   days on market $195,000 Active 124 DOM
3. 2026-06-16
   days on market $195,000 Active 123 DOM
4. 2026-06-15
   days on market $195,000 Active 122 DOM
5. 2026-06-14
   days on market $195,000 Active 120 DOM
6. 2026-06-13
   days on market $195,000 Active 119 DOM
7. 2026-06-10
   days on market $195,000 Active 117 DOM
8. 2026-06-09
   days on market $195,000 Active 116 DOM
9. 2026-06-08
   days on market $195,000 Active 115 DOM
10. 2026-06-07
    days on market $195,000 Active 114 DOM
11. 2026-06-05
    days on market $195,000 Active 111 DOM
12. 2026-06-03
    days on market $195,000 Active 110 DOM
13. 2026-06-02
    days on market $195,000 Active 109 DOM
14. 2026-06-01
    days on market $195,000 Active 108 DOM
15. 2026-05-31
    days on market $195,000 Active 107 DOM
16. 2026-05-30
    days on market $195,000 Active 106 DOM
17. 2026-04-27
    price $195,000
18. 2026-02-13
    listed $210,000 Active
19. 2023-10-31
    soldstatus $182,000
20. 2023-10-27
    soldstatus $182,000 Closed 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

21. 2023-10-02
    status Pending 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

22. 2023-09-25
    price $199,900 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

23. 2023-09-08
    price $210,000 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

24. 2023-09-08
    status Active 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

25. 2023-08-16
    historical Active Under Contract 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

26. 2023-08-04
    listed $215,000 Active 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

27. 2023-08-01
    historical $215,000 1159-char remark

    Show marketing remark (1159 chars)

    Come see this cute 4 bed, 1.5 bath Colonial home located on W Main Street, Waynesboro! This home offers ample space for your family and guests. With the dinning room off the kitchen for easy access and the living room close by, it makes it great for gatherings . The 4 bedrooms are on the second level and are a good size, each having their own closet. There is also additional linen closet on the second level perfect for storage. The attic and basement offer plenty of additional storage, and the basement is a walk-out to the back yard. The back yard is fenced in and has a swing set that stays with the sale along with a good size deck! Off street parking can be found right on the outside of the fence, or you can park on-street right in-front of the home. Overall, this colonial home offers comfort, convenience, and plenty of storage space. Call or text today to schedule your private showing! Back to active due to buyers not getting their home under contract. Seller is offering $1,500 buyer credit to replace the electric panel boxes in basement. We got a quote from a license electrician for that amount above. Can send contact info upon request.

28. 2019-05-14
    soldstatus $135,000
29. 2019-05-14
    price $135,000
30. 2019-05-10
    soldstatus $135,000 Closed
31. 2019-04-02
    historical Active Under Contract
32. 2019-02-05
    price $139,900
33. 2018-10-22
    listed $144,000 Active

ⓘ 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: $2,604 · $217/mo
• Projected year-2 tax: $2,843 · $237/mo
• Expected delta: +$238/yr (+$20/mo · 9.1%)

ⓘ 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 ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $23,724
• − Mortgage interest: −$10,923
• − Property taxes: −$2,604
• − Insurance: −$975
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$5,673
• Taxable loss: −$247
• Est. tax savings @ 24.0%: +$59
• After-tax cash flow: $2,950/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: Waynesboro Area SD
• NCES district ID: 4225110
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 52% ▼ -15.00%
• Median HH income: $50,445
• Composite: 37.79/100
• National rank: #4342
• State rank: #283 of 539 in PA

Livability — Waynesboro

• Score: 78/100
• State rank: #280
• US rank: #2482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynesboro, PA
• County: Franklin County · 56,916 people
• City population: 29,362
• Metro: Chambersburg-Waynesboro, PA
• Population (ZIP): 29,362
• Household income: $73,161
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 539.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -113.20%
• Current HPI: 189.6931
• Rent YoY: —
• 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

+35.4% since first listed

17 events — show timeline

• 2026-04-27 Price Changed $195,000 BRIGHT MLS
• 2026-02-13 Listed $210,000 BRIGHT MLS
• 2023-10-31 Sold (Public Records) $182,000 Public Records
• 2023-10-27 Sold (MLS) $182,000 BRIGHT MLS
• 2023-10-02 Pending — BRIGHT MLS
• 2023-09-25 Price Changed $199,900 BRIGHT MLS
• 2023-09-08 Price Changed $210,000 BRIGHT MLS
• 2023-09-08 Relisted — BRIGHT MLS
• 2023-08-16 Contingent — BRIGHT MLS
• 2023-08-04 Listed $215,000 BRIGHT MLS
• 2023-08-01 Coming Soon $215,000 BRIGHT MLS
• 2019-05-14 Sold (Public Records) $135,000 Public Records
• 2019-05-14 Price Changed $135,000 BRIGHT MLS
• 2019-05-10 Sold (MLS) $135,000 BRIGHT MLS
• 2019-04-02 Contingent — BRIGHT MLS
• 2019-02-05 Price Changed $139,900 BRIGHT MLS
• 2018-10-22 Listed $144,000 BRIGHT MLS

Property tax history

+11.0%/yr

Latest (2026): $2,604 · +0.0% YoY. Source: county tax records.