104 Lampeter Rd · Lancaster, PA 17602

$275,000

3 bd · 2.0 ba · 1,758 sqft · Townhouse public records · 6 Days on market

Built 1955 4,792 sqft lot Est $313k · 12% under

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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).

• ARV discount +13.0/15.0
• Cash flow +12.8/30.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.2/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will fall in love with this extremely well kept home in LS with a view of the Conestoga Creek from your private backyard patio. This home features a new outside doors, all new paint throughout. 3 bedrooms, 2 full bathrooms and a fully finished basement with a built in bar and a retro built in refrigerator. The kitchen also has a built in retro oven and a breakfast bar. The sun room is cozy with a new metal roof, new gutters and downspouts. Property is currently approved for the Homestead Act Tax Reduction Program. Call to schedule your showing today.

Key facts

• 3 parking spots
• Built 1955
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $275k.

Deal economics

• At list price, monthly cash flow is $-81 ($-967/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (18.0% below list).
• Recommended offer: $225k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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-.
• Lampeter-Strasburg SD (suburban): math 51% / reading 68% proficiency, ranked #68 of 539 in PA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.2%/yr); 161 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• This rent runs 36% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $8k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $170k; list at $275k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,386 (18.0% 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. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.82% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $312,924
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Parkside Ave	0.52mi	4/1.5 (+1)	1,772 (+1%)	10mo	$335,000	$189	59
2 Pitt Ct	0.69mi	2/2.0 (-1)	1,596 (-9%)	5mo	$325,000	$204	44
4 Hardy Ct	0.73mi	2/2.0 (-1)	1,652 (-6%)	9mo	$295,000	$179	44
88 River Bend Park	0.64mi	2/3.0 (-1)	1,835 (+4%)	13mo	$335,000	$183	43
127 River Bend Park	0.74mi	3/2.5	1,927 (+10%)	7mo	$337,500	$175	42
17 Rumford Ct	0.75mi	3/3.0	1,925 (+10%)	9mo	$285,000	$148	38
114 River Bend Park	0.68mi	2/1.5 (-1)	1,570 (-11%)	10mo	$270,000	$172	36
80 Duncan St	0.65mi	3/3.0	1,965 (+12%)	15mo	$350,000	$178	34
48 Ranck Ave	0.74mi	4/1.5 (+1)	1,532 (-13%)	9mo	$240,000	$157	30

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 · 1.2% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.30×
• Total profit: $-53,696
• Equity at exit: $41,003

10-year hold

• IRR: -17.9%
• Equity multiple: 0.10×
• Total profit: $-69,198
• Equity at exit: $23,777

Cash invested: $77,000 (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 17602

• Rents YoY: 1.2%
• Active inventory: 161
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,254 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$249 /mo · $2,987/yr
• Insurance: −$115
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $-81

Break-even live

Break-even rent $2,356

Max offer price $260,762

Occupancy floor 99%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2500 Hickory Dr Lancaster, PA	2.0	2.5	1711	$2,650	$1.55	14d	1	0.47mi
1216 Clark St Lancaster, PA	4.0	1.5	1270	$2,195	$1.73	14d	1	0.55mi
13 Kennedy St Lancaster, PA	2.0	2.0	1313	$2,225	$1.69	44d	1	0.84mi
1522 Princess Anne Dr Lancaster, PA	4.0	2.0	1352	$2,400	$1.78	44d	1	1.19mi
708 S Lime St Unit 3 Lancaster, PA	4.0	1.0	1742	$1,850	$1.06	44d	1	1.24mi
1973 Millport Rd Lancaster, PA	3.0	3.0	2539	$3,495	$1.38	14d	1	1.46mi

Listing history 14 events

1. 2026-04-26
   status Pending
2. 2026-04-20
   listed $275,000 Active
3. 2026-04-10
   historical $275,000
4. 2020-01-27
   soldstatus $170,500 Closed 562-char remark

   Show marketing remark (562 chars)

   You will fall in love with this extremely well kept home in LS with a view of the Conestoga Creek from your private backyard patio. This home features a new outside doors, all new paint throughout. 3 bedrooms, 2 full bathrooms and a fully finished basement with a built in bar and a retro built in refrigerator. The kitchen also has a built in retro oven and a breakfast bar. The sun room is cozy with a new metal roof, new gutters and downspouts. Property is currently approved for the Homestead Act Tax Reduction Program. Call to schedule your showing today.

5. 2019-12-03
   status Pending 562-char remark

   Show marketing remark (562 chars)

   You will fall in love with this extremely well kept home in LS with a view of the Conestoga Creek from your private backyard patio. This home features a new outside doors, all new paint throughout. 3 bedrooms, 2 full bathrooms and a fully finished basement with a built in bar and a retro built in refrigerator. The kitchen also has a built in retro oven and a breakfast bar. The sun room is cozy with a new metal roof, new gutters and downspouts. Property is currently approved for the Homestead Act Tax Reduction Program. Call to schedule your showing today.

6. 2019-11-09
   listed $170,500 Active 562-char remark

   Show marketing remark (562 chars)

   You will fall in love with this extremely well kept home in LS with a view of the Conestoga Creek from your private backyard patio. This home features a new outside doors, all new paint throughout. 3 bedrooms, 2 full bathrooms and a fully finished basement with a built in bar and a retro built in refrigerator. The kitchen also has a built in retro oven and a breakfast bar. The sun room is cozy with a new metal roof, new gutters and downspouts. Property is currently approved for the Homestead Act Tax Reduction Program. Call to schedule your showing today.

7. 2016-09-16
   soldstatus $150,000
8. 2016-09-14
   soldstatus $150,000 344-char remark

   Show marketing remark (344 chars)

   3 bedroom semi detached brick home in Lampeter Strasburg schools. Kitchen with breakfast bar, 3 seasons room and finished lower level perfect for entertaining. Updated throughout with new roof, flooring, bathrooms and lower level. Private setting with views of Conestoga River and mature landscaping. Convenient location, close to major routes.

9. 2016-07-21
   historical 344-char remark

   Show marketing remark (344 chars)

   3 bedroom semi detached brick home in Lampeter Strasburg schools. Kitchen with breakfast bar, 3 seasons room and finished lower level perfect for entertaining. Updated throughout with new roof, flooring, bathrooms and lower level. Private setting with views of Conestoga River and mature landscaping. Convenient location, close to major routes.

10. 2016-06-07
    listed $154,900 344-char remark

    Show marketing remark (344 chars)

    3 bedroom semi detached brick home in Lampeter Strasburg schools. Kitchen with breakfast bar, 3 seasons room and finished lower level perfect for entertaining. Updated throughout with new roof, flooring, bathrooms and lower level. Private setting with views of Conestoga River and mature landscaping. Convenient location, close to major routes.

11. 2007-11-20
    soldstatus $129,900
12. 2007-11-19
    soldstatus $129,900
13. 2007-09-18
    historical
14. 2007-09-17
    listed $129,900

ⓘ 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: $2,987 · $249/mo
• Projected year-2 tax: $3,666 · $305/mo
• Expected delta: +$679/yr (+$57/mo · 22.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 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: $27,046
• − Mortgage interest: −$15,404
• − Property taxes: −$2,987
• − Insurance: −$2,042
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − Depreciation: −$8,000
• Taxable loss: −$5,714
• Est. tax savings @ 24.0%: +$1,371
• After-tax cash flow: $404/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: Lampeter-Strasburg SD
• NCES district ID: 4213110
• Math proficiency: 51% ▼ -11.00%
• Reading proficiency: 68% ▼ -10.00%
• Median HH income: $66,661
• Composite: 52.19/100
• National rank: #1610
• State rank: #68 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

• County: Lancaster County · 390,309 people
• City population: 176,170
• Metro: Lancaster, PA
• Population (ZIP): 52,217
• Household income: $75,862
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1556.0

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 0.61)
• Race & ethnicity: White 52% Hispanic / Latino 32% Two or more races 12% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 21% Cuban 1% Dominican 4%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 70% English-only · Spanish 22% German/W. Germanic 2% French/Haitian/Cajun 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: ▼ -248.05%
• Current HPI: 288.9141
• Rent YoY: ▲ 1.20%
• 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

+111.7% since first listed

14 events — show timeline

• 2026-04-26 Pending — BRIGHT MLS
• 2026-04-20 Listed $275,000 BRIGHT MLS
• 2026-04-10 Coming Soon $275,000 BRIGHT MLS
• 2020-01-27 Sold (MLS) $170,500 BRIGHT MLS
• 2019-12-03 Pending — BRIGHT MLS
• 2019-11-09 Listed $170,500 BRIGHT MLS
• 2016-09-16 Sold (Public Records) $150,000 Public Records
• 2016-09-14 Sold (MLS) $150,000 BRIGHT MLS
• 2016-07-21 Listing Removed — BRIGHT MLS
• 2016-06-07 Listed $154,900 BRIGHT MLS
• 2007-11-20 Sold (Public Records) $129,900 Public Records
• 2007-11-19 Sold (MLS) $129,900 BRIGHT MLS
• 2007-09-18 Listing Removed — BRIGHT MLS
• 2007-09-17 Listed $129,900 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2026): $2,987 · +4.0% YoY. Source: county tax records.