439 E Strawberry St · Lancaster, PA 17602

$130,000

1 bd · 1.0 ba · 616 sqft · Townhouse public records · 17 Days on market

Built 1900 1,307 sqft lot Est $141k · 8% 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 +21.0/30.0
• ARV discount +11.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

COZY 2 STORY HOME. SAME OWNERS FOR THE LAST 19 YEARS! GREAT FOR INVESTORS, EXCELLENT CASH FLOW!! RARE FIND BECAUSE IT PAYS FOR ITSELF WITHIN 5 YEARS. NEW ASSESSMENT ONLY $21,900 = LOWER TAXES!! MODERN KITCHEN & BATH, VINYL SIDING. TURNKEY-READY TO RENT FOR $600/MONTH MINIMUM W/ TENANTS PAYING SEWER/WATER AND TRASH. HOME IS BEING SOLD ''AS-IS'', NO SELLER PAID REPAIRS AT THIS PRICE, OWNERS ARE PA LICENSED RE BROKERS.

Key facts

• Built 1900
• Listed 17 days

Property features AI

Finance

• Other: Above-grade finished area reported as 616 (assessor)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Frame construction with vinyl siding; Stone foundation; Shingle, composite, and rubber roof
• Exterior features: Board fencing; Not in a federal flood zone

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One bedroom on the first upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Electric baseboard heating; Electric cooling; Electric hot water
• Interior features: Eat-in kitchen; Partial basement; Two or more access exits

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (3.1% below list).
• Recommended offer: $126k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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-.
• Lancaster SD (urban): math 12% / reading 25% proficiency, ranked #500 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.2%/yr); 161 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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

• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask is 335% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $28k; list at $130k implies a 373% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $125,906 (3.1% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $141,064
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
424 E Strawberry St	0.03mi	2/1.0 (+1)	624 (+1%)	6mo	$143,000	$229	86
307 Beaver St	0.14mi	1/1.0	672 (+9%)	15mo	$112,000	$167	66
327 Beaver St	0.12mi	2/1.5 (+1)	702 (+14%)	3mo	$159,900	$228	62
70 Howard Ave	0.46mi	2/1.0 (+1)	611 (-1%)	19mo	$140,000	$229	56

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: -8.9%
• Equity multiple: 0.68×
• Total profit: $-11,663
• Equity at exit: $19,383

10-year hold

• IRR: -1.8%
• Equity multiple: 0.89×
• Total profit: $-4,125
• Equity at exit: $11,240

Cash invested: $36,400 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,259 high
• Mortgage (P&I): −$682
• Tax from tax record: −$75 /mo · $905/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $183

Break-even live

Break-even rent $1,027

Max offer price $130,000

Occupancy floor 80%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Conestoga St Unit 3 Lancaster, PA	2.0	1.0	505	$1,095	$2.17	43d	1	0.18mi
34 Conestoga St Unit 1 Lancaster, PA	2.0	1.0	671	$995	$1.48	21d	1	0.18mi
431 Fremont St Unit 4 Lancaster, PA	1.0	1.0	641	$1,095	$1.71	43d	1	0.38mi
22 S Duke St Unit 2B Lancaster, PA	—	1.0	400	$1,150	$2.88	43d	1	0.38mi
72 Howard Ave Lancaster, PA	2.0	1.0	572	$1,495	$2.61	21d	1	0.43mi
61 Howard Ave Apt 1 Lancaster, PA	2.0	1.0	650	$1,045	$1.61	43d	1	0.45mi
475 Saint Joseph St Lancaster, PA	1.0	1.0	750	$1,000	$1.33	14d	1	0.48mi
205 E King St Unit 1 Lancaster, PA	1.0	1.0	480	$1,335	$2.78	43d	1	0.49mi
35 N Mulberry St Unit 1st floor Lancaster, PA	1.0	1.0	700	$1,085	$1.55	43d	1	0.60mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$1,695	$1.33	14d	48	0.62mi
442 E King St Lancaster, PA	1.0	1.0	600	$925	$1.54	23d	1	0.62mi
202 N Queen St Lancaster, PA	2.0	1.0–2.0	697	$2,134	$3.06	14d	12	0.68mi
437 W Grant St Unit 302 Lancaster, PA	1.0	1.0	650	$1,775	$2.73	23d	1	0.73mi
437 W Grant St Lancaster, PA	1.0	1.0	713	$1,795	$2.52	23d	1	0.73mi
831 Fremont St Unit FR31004 Lancaster, PA	—	1.0	384	$975	$2.54	43d	1	0.73mi
227 N Prince St Lancaster, PA	1.0	1.0	483	$1,575	$3.26	14d	4	0.74mi
38 E Walnut St Lancaster, PA	1.0	1.0	587	$1,495	$2.55	23d	1	0.74mi
11 E Walnut St Unit 3 Lancaster, PA	1.0	1.0	475	$1,325	$2.79	43d	1	0.77mi
249 N Mulberry St Unit 4 Lancaster, PA	1.0	1.0	510	$1,150	$2.25	23d	1	0.81mi
502 4th St Apt C Lancaster, PA	1.0	1.0	400	$1,200	$3.00	43d	1	0.82mi
114 E Lemon St Lancaster, PA	1.0	1.0	627	$1,347	$2.15	14d	2	0.85mi
347 N Queen St Lancaster, PA	1.0	1.0	687	$2,025	$2.95	14d	10	0.86mi
323 N Mulberry St Unit 4 Lancaster, PA	1.0	1.0	600	$1,500	$2.50	14d	1	0.87mi
344 N Mulberry St Unit 2 Lancaster, PA	1.0	1.0	722	$1,065	$1.48	23d	1	0.92mi
1127 Wabank St Lancaster, PA	1.0–2.0	1.0	760	$1,395	$1.84	23d	1	0.95mi
450 N Queen St Lancaster, PA	—	1.0	365	$1,100	$3.01	14d	1	0.97mi
446 N Duke St Unit 2F Lancaster, PA	1.0	1.0	520	$1,085	$2.09	23d	1	0.97mi
446 N Duke St Unit 1R Lancaster, PA	1.0	1.0	580	$1,095	$1.89	43d	1	0.97mi
40 W James St Unit 2 Lancaster, PA	1.0	1.0	500	$1,200	$2.40	14d	1	0.98mi
506 N Queen St Unit 2 Lancaster, PA	1.0	1.0	556	$1,500	$2.70	14d	1	1.00mi
480 Euclid Ave Lancaster, PA	1.0–2.0	1.0–1.5	830	$1,425	$1.72	43d	1	1.03mi
445 W Lemon St Unit 4 Lancaster, PA	1.0	1.5	540	$1,445	$2.68	23d	1	1.04mi
709 N Duke St Lancaster, PA	1.0	1.0	588	$1,550	$2.64	21d	1	1.21mi
816 N Prince St Lancaster, PA	1.0–2.0	1.0–2.0	794	$1,545	$1.95	14d	7	1.30mi

Listing history 13 events

1. 2026-06-18
   days on market $130,000 Coming Soon 17 DOM
2. 2026-06-17
   days on market $130,000 Coming Soon 16 DOM
3. 2026-06-16
   days on market $130,000 Coming Soon 15 DOM
4. 2026-06-15
   days on market $130,000 Coming Soon 14 DOM
5. 2026-06-14
   days on market $130,000 Coming Soon 12 DOM
6. 2026-06-13
   days on market $130,000 Coming Soon 11 DOM
7. 2026-06-10
   days on market $130,000 Coming Soon 9 DOM
8. 2026-06-09
   days on market $130,000 Coming Soon 8 DOM
9. 2026-06-08
   days on market $130,000 Coming Soon 7 DOM
10. 2026-06-07
    days on market $130,000 Coming Soon 6 DOM
11. 2026-06-03
    days on market $130,000 Coming Soon 2 DOM
12. 2026-06-02
    remarks 24-char remark
13. 2026-06-02
    listed $130,000 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.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $905 · $75/mo
• Projected year-2 tax: $1,479 · $123/mo
• Expected delta: +$575/yr (+$48/mo · 63.5%)

ⓘ 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 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $15,109
• − Mortgage interest: −$7,282
• − Property taxes: −$905
• − Insurance: −$650
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$3,782
• Taxable income: $73
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $2,183/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: Lancaster SD
• NCES district ID: 4213140
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -13.00%
• Median HH income: $38,500
• Composite: 15.52/100
• National rank: #9301
• State rank: #500 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

• Census place: Lancaster, PA
• 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

+334.8% since first listed

6 events — show timeline

• 2026-06-01 Coming Soon $130,000 BRIGHT MLS
• 2017-10-06 Sold (MLS) $27,500 BRIGHT MLS
• 2017-09-27 Listing Removed — BRIGHT MLS
• 2017-09-24 Listing Removed — BRIGHT MLS
• 2017-09-24 Listed $29,900 BRIGHT MLS
• 2017-08-31 Listed $29,900 BRIGHT MLS

Property tax history

-1.8%/yr

Latest (2026): $905 · +3.3% YoY. Source: county tax records.