142 S Poplar St · Elizabethtown, PA 17022

$220,000

4 bd · 2.0 ba · 1,170 sqft · MultiFamily public records · 26 Days on market

Built 1900 2,614 sqft lot $188/sqft · 29% above area Est $253k · 13% 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 +22.1/30.0
• ARV discount +13.4/15.0
• DSCR +7.1/10.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• 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

Two unit in the heart of town. Convenient to the downtown area and to local amenities. Both units are one bedroom with electric baseboard heat. The second floor unit was extensively remodeled with new kitchen cabinets, countertops, stove and microwave. The bathroom was redone with new tub shower, sink and flooring. the rest of the unit received laminate flooring. It has access to an attic for additional storage. That space could be possibly finished off for another bedroom and living space. The first floor unit has a long term tenant. New bathroom flooring was recently installed. There is washer and dryer hook-up in the basement. There is off street parking to the rear of the property. Prop

Key facts

• New stove
• One bedroom
• New kitchen cabinets

Tags

• ONE BEDROOM
• EXTENSIVELY REMODELED
• NEW KITCHEN CABINETS
• NEW COUNTERTOPS
• NEW STOVE
• NEW MICROWAVE

Property features AI

Finance

• Other: Improvement and land assessed values recorded (assessor data); Insurance expense noted
• Financial info: Total actual rent reported: $20,100; Existing leases are yearly; Trash expense listed separately

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Municipal trash service
• Home design: Semi-detached property; Built originally prior to 2016 with major remodel in 2016 (per assessor); Fee simple ownership; Very good condition
• Construction: Brick and masonry construction; Stone foundation; Asphalt roof
• Exterior features: Lot approximately 17 x 178 (estimated); No tidal water

Interior

• Bedrooms: Two one-bedroom units
• Heating & cooling: Baseboard electric heat; Ceiling fans; Window air conditioning units; Electric hot water
• Interior features: Unfinished basement; Two total residential units (both currently leased); Operating expenses include insurance and trash

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive. Per door: $150/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.1% in Elizabethtown — 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 80/100 on livability (#201 in PA, #1,759 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Elizabethtown Area SD (suburban): math 46% / reading 62% proficiency, ranked #123 of 539 in PA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Elizabethtown Area Shs (math 67% / reading 24%, grade D-, #183 of 437 statewide, top 43%, 1,249 students, 29% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 202 active listings in the ZIP; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• This rent runs 33% of the median local income ($87k/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 $7k 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.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $62k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $220k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,700 (1.5% below list)

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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

• ARV (median comp): $253,229
• List price: $220,000
• Delta: -13.12%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.52% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-7,819
• Equity at exit: $32,803

10-year hold

• IRR: 10.1%
• Equity multiple: 1.91×
• Total profit: $56,159
• Equity at exit: $19,022

Cash invested: $61,600 (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 17022

• Home prices YoY: -29.0%
• Rents YoY: 6.5%
• Active inventory: 202
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,354 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$258 /mo · $3,099/yr
• Insurance: −$92
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $301

Break-even live

Break-even rent $1,974

Max offer price $220,000

Occupancy floor 82%

Sensitivity live

Price	-10% $425	-5% $363	+0% $301	+5% $238	+10% $176
Rent	-10% $115	-5% $208	+0% $301	+5% $393	+10% $486
Rate	-1.0pp $411	-0.5pp $356	base $301	+0.5pp $244	+1.0pp $186

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,354
Total (2 units)			$2,354

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-09
   status $220,000 Pending 26 DOM
2. 2026-06-08
   days on market $220,000 Active 26 DOM
3. 2026-06-07
   days on market $220,000 Active 25 DOM
4. 2026-06-05
   days on market $220,000 Active 22 DOM
5. 2026-06-03
   days on market $220,000 Active 21 DOM
6. 2026-06-02
   pricedays on market $220,000 Active 20 DOM
7. 2026-06-01
   days on market $240,000 Active 19 DOM
8. 2026-05-31
   days on market $240,000 Active 18 DOM
9. 2026-05-30
   days on market $240,000 Active 17 DOM
10. 2026-05-13
    listed $240,000 Active 1172-char remark
11. 2016-03-14
    soldstatus $60,000
12. 1996-11-12
    soldstatus $1

ⓘ 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: $3,099 · $258/mo
• Projected year-2 tax: $3,287 · $274/mo
• Expected delta: +$189/yr (+$16/mo · 6.1%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,248
• − Mortgage interest: −$12,323
• − Property taxes: −$3,099
• − Insurance: −$1,766
• − Repairs & maintenance: −$2,260
• − Management: −$2,260
• − Depreciation: −$6,400
• Taxable income: $140
• Est. tax owed @ 24.0%: −$33
• After-tax cash flow: $3,573/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: Elizabethtown Area SD
• NCES district ID: 4209120
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $59,380
• Composite: 46.94/100
• National rank: #2361
• State rank: #123 of 539 in PA

Livability — Elizabethtown

• Score: 80/100
• State rank: #201
• US rank: #1759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabethtown, PA
• County: Lancaster County · 390,309 people
• City population: 31,908
• Metro: Lancaster, PA
• Population (ZIP): 31,908
• Household income: $86,767
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1404.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 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: ▼ -108.73%
• Current HPI: 266.3184
• Rent YoY: ▲ 6.52%
• 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

+266.7% since first listed

5 events — show timeline

• 2026-06-08 Pending — BRIGHT MLS
• 2026-06-01 Price Changed $220,000 BRIGHT MLS
• 2026-05-13 Listed $240,000 BRIGHT MLS
• 2016-03-14 Sold (Public Records) $60,000 Public Records
• 1996-11-12 Sold (Public Records) $1 Public Records

Property tax history

+3.3%/yr

Latest (2026): $3,099 · +3.7% YoY. Source: county tax records.