254-256 E Madison St · Marion, PA 17201

$325,000

4 bd · 0.0 ba · 2,001 sqft · MultiFamily · 1 Days on market

Built 1900 Good condition 6,098 sqft lot

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Why this score? — see what drove the D 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 +13.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +3.6/5.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• 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

Excellent investment opportunity in the heart of downtown Greencastle! This well-maintained side-by-side duplex offers a strong income-producing addition to any portfolio. Each unit features separate utilities, helping keep owner expenses low and maximize returns. Property offers a large backyard with private patios, providing desirable outdoor living space for tenants. Conveniently located within walking distance to downtown amenities, shopping, dining, and community events. Current owner has maintained the property very well. Whether you're looking to expand your investment portfolio or begin your journey in real estate investing, this turnkey duplex is one you won't want to miss!

Key facts

• Separate utilities
• Large backyard
• Private patios

Tags

• SIDE BY SIDE DUPLEX
• SEPARATE UTILITIES
• LARGE BACKYARD
• PRIVATE PATIOS
• OUTDOOR LIVING SPACE
• WALKING DISTANCE TO DOWNTOWN

Property features AI

Finance

• Other: Above-grade finished area reported as 2,001 (estimated); Improvement assessed value listed; Land assessed value listed
• Financial info: Fee simple ownership; Two total units; Existing leases are yearly; Total actual rent reported: $21,000

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas heating
• Home design: Semi-detached structure; Vinyl siding
• Construction: Shingle roof; Stone foundation; Estimated year built
• Exterior features: No tidal water

Interior

• Bedrooms: Two 2-bedroom units
• Heating & cooling: 90% forced air heating; Window air conditioning units (electric)
• Interior features: Estimated living area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1 ($-10/yr) — negative. Per door: $0/mo.
• To cash-flow at today's rent, offer at most $325k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $284k (12.6% below list).
• Recommended offer: $284k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.6% in Marion — 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 63/100 on livability (#1,248 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A, employment B+; Watch: amenities F, commute F, health & safety 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: New Franklin El Sch (math 42% / reading 47%, grade F, #815 of 1,518 statewide, top 56%, 227 students, 85% FRL); Chambersburg Area Ms - South (math 17% / reading 45%, grade F, #374 of 512 statewide, top 73%, 1,054 students, 69% FRL); Chambersburg Area Shs (math 46% / reading 10%, grade F, #362 of 437 statewide, top 83%, 2,348 students, 60% FRL) — zoned schools average 71% FRL vs 41% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 164 active listings in the ZIP; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).
• At $2,842/mo this rent would consume 56% of the median local household income ($61k/yr) (locally 1306% 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $284,200 (12.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.46×
• Total profit: $-48,703
• Equity at exit: $48,459

10-year hold

• IRR: -4.0%
• Equity multiple: 0.72×
• Total profit: $-25,547
• Equity at exit: $28,100

Cash invested: $91,000 (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: 164
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $2,842 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $-1

Break-even live

Break-even rent $2,843

Max offer price $324,881

Occupancy floor 95%

Sensitivity live

Price	-10% $224	-5% $111	+0% $-1	+5% $-113	+10% $-225
Rent	-10% $-225	-5% $-113	+0% $-1	+5% $111	+10% $224
Rate	-1.0pp $163	-0.5pp $82	base $-1	+0.5pp $-85	+1.0pp $-171

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,842
Total (2 units)			$2,842

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   status $325,000 Active 1 DOM
2. 2026-06-17
   remarks 691-char remark
3. 2026-06-17
   listed $325,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,104
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,728
• − Management: −$2,728
• − Depreciation: −$9,455
• Taxable loss: −$5,512
• Est. tax savings @ 24.0%: +$1,323
• After-tax cash flow: $1,313/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained side-by-side duplex offers a strong income-producing addition to any portfolio. With minor updates, it can significantly increase its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — Aesthetic update needed
• Minor bathroom shower curtain — Needs replacement

Value-add opportunities

• Both Paint exterior — Enhances curb appeal
• Both Replace kitchen cabinets — Modernizes and increases value
• Both Replace shower curtain — Freshens bathroom and improves aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Aesthetic update needed	Minor	$500–3,000
bathroom shower curtain · Needs replacement	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal ↑
• Both Replace kitchen cabinets — Modernizes and increases value ↑
• Both Replace shower curtain — Freshens bathroom and improves aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Marion

• Score: 63/100
• State rank: #1248
• US rank: #14994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, PA
• County: Franklin County · 56,916 people
• City population: 682
• 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

1 event — show timeline

• 2026-06-17 Coming Soon $325,000 BRIGHT MLS