605 Poplar St · Lancaster, PA 17603

$149,900

3 bd · 1.0 ba · 1,187 sqft · Townhouse public records · 16 Days on market

Built 1900 1,307 sqft lot Est $229k · 35% under

---

Why this score? — see what drove the B- 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.5/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* GORGEOUS NEWLY RENOVATED OAK KITCHEN * UPDATED BATH * NEW REPLACEMENT WINDOWS * VINYL SIDING * NEWER STOVE & REFRIGERATOR * FAIRLY NEW ROOF * WATER HEATER & FURNACE * STORAGE UNDER THE EAVES IN THE ATTIC * LOTS OF CEILING FANS & 3 WINDOW A/C UNITS * VERY NICE INSIDE * MOVE RIGHT IN * POSSIBLE 1/2 BATH ON FIRST FLOOR *

Key facts

• Fenced in backyard
• Rear covered patio
• Close to dining

Tags

• FENCED IN BACKYARD
• REAR COVERED PATIO
• CLOSE TO LOCAL SHOPS
• CLOSE TO DINING
• CLOSE TO DOWNTOWN AMENITIES

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick, stick-built, and vinyl siding construction
• Exterior features: Wood fencing; Patio(s)

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the second upper level
• Bathrooms: One full bathroom (all upper levels); One full bathroom on the first upper level; One half bathroom on the main level
• Heating & cooling: Forced air heating; Oil-fired heating; Electric hot water
• Interior features: Full basement; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 flat; 292 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1k 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 16 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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 $39k; list at $150k implies a 284% 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 $147,651 (1.5% 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: 1.15% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $229,091
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Old Dorwart St	0.24mi	3/1.0	1,126 (-5%)	1mo	$140,250	$125	79
813 Fremont St	0.30mi	3/1.5	1,234 (+4%)	0mo	$231,000	$187	77
448 Fremont St	0.18mi	3/1.0	1,290 (+9%)	1mo	$174,950	$136	76
504 S Prince St	0.40mi	3/1.0	1,250 (+5%)	0mo	$155,000	$124	72
531 S Prince St	0.45mi	3/1.0	1,120 (-6%)	0mo	$240,000	$214	69
827 3rd St	0.59mi	3/1.0	1,240 (+4%)	2mo	$275,000	$222	64
846 Marjory Ter	0.63mi	3/1.5	1,160 (-2%)	1mo	$224,000	$193	64
841 Wabank St	0.40mi	3/1.5	1,040 (-12%)	1mo	$206,000	$198	58
418 Green St	0.65mi	3/1.5	1,254 (+6%)	2mo	$215,000	$171	57
240 Coral St	0.35mi	3/2.0	1,361 (+15%)	1mo	$291,000	$214	54
616 Pearl St	0.56mi	4/2.0 (+1)	1,260 (+6%)	1mo	$202,000	$160	54
235 Howard Ave	0.66mi	3/2.0	1,327 (+12%)	1mo	$259,900	$196	45

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 · 0.47% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.84×
• Total profit: $-6,857
• Equity at exit: $22,351

10-year hold

• IRR: 2.0%
• Equity multiple: 1.13×
• Total profit: $5,324
• Equity at exit: $12,961

Cash invested: $41,972 (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 17603

• Rents YoY: 0.5%
• Active inventory: 292
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,727 high
• Mortgage (P&I): −$786
• Tax from tax record: −$175 /mo · $2,099/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $341

Break-even live

Break-even rent $1,296

Max offer price $149,900

Occupancy floor 75%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Poplar St Lancaster, PA	3.0	1.5	1184	$1,695	$1.43	43d	1	0.08mi
324 New Dorwart St Lancaster, PA	3.0	1.0	1020	$1,495	$1.47	13d	1	0.12mi
37 E Filbert St Lancaster, PA	3.0	1.0	1002	$1,750	$1.75	43d	1	0.15mi
529 Manor St Lancaster, PA	3.0	1.0	1434	$1,635	$1.14	13d	1	0.19mi
214 W Strawberry St Lancaster, PA	3.0	1.0	1175	$1,345	$1.14	21d	1	0.24mi
422 Hillside Ave Lancaster, PA	2.0	1.0	960	$1,245	$1.30	43d	1	0.26mi
741 Manor St Lancaster, PA	3.0	1.0	1200	$1,695	$1.41	43d	1	0.30mi
40 Fairview Ave Lancaster, PA	3.0	1.0	1152	$1,700	$1.48	13d	1	0.33mi
404 Beaver St Lancaster, PA	3.0	1.0	1025	$1,425	$1.39	23d	1	0.40mi
345 1/2 Beaver St Lancaster, PA	4.0	1.0	1382	$2,095	$1.52	43d	1	0.40mi
14 Coral St Lancaster, PA	3.0	1.5	1355	$1,525	$1.13	43d	1	0.41mi
549 Howard Ave Lancaster, PA	4.0	1.0	1439	$1,700	$1.18	43d	1	0.46mi
519 1/2 S Prince St Lancaster, PA	2.0	1.0	848	$1,550	$1.83	13d	1	0.47mi
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	13d	1	0.48mi
128 N Mulberry St Unit 1 Lancaster, PA	2.0	2.0	1500	$2,250	$1.50	23d	1	0.48mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$4,703	$3.69	13d	48	0.53mi
433 W Walnut St Apt 2 Lancaster, PA	2.0	1.0	900	$1,840	$2.04	23d	1	0.64mi
1127 Wabank St Lancaster, PA	1.0–2.0	1.0	760	$1,650	$2.17	23d	1	0.66mi
537 Woodward St Lancaster, PA	3.0	2.0	1288	$1,650	$1.28	23d	1	0.67mi
202 N Queen St Lancaster, PA	2.0	1.0–2.0	697	$2,718	$3.90	13d	12	0.67mi
480 Euclid Ave Lancaster, PA	1.0–2.0	1.0–1.5	830	$1,695	$2.04	43d	1	0.76mi
225 E King St Unit 2 Lancaster, PA	2.0	2.5	1075	$2,600	$2.42	43d	1	0.77mi
225 E King St Unit 1 Lancaster, PA	2.0	1.0	957	$1,950	$2.04	13d	1	0.77mi
850 Highland Ave Lancaster, PA	2.0	1.0	1000	$1,300	$1.30	21d	1	0.81mi
425 N Prince St Apt 206 Lancaster, PA	2.0	2.0	1138	$1,995	$1.75	43d	1	0.85mi
27 Roselle Ave Lancaster, PA	2.0	1.0	1128	$1,575	$1.40	43d	1	0.93mi
135 Grandview Ave Lancaster, PA	3.0	2.0	1395	$3,295	$2.36	13d	1	0.96mi
231 N Shippen St #224 Lancaster, PA	2.0	2.0	1155	$2,285	$1.98	13d	1	0.98mi
1013 Willow Street Pike Lancaster, PA	2.0	1.0	1144	$1,499	$1.31	13d	1	1.02mi
101 Roselawn Ave Lancaster, PA	3.0	2.0	1166	$1,785	$1.53	13d	1	1.07mi
1330 Wabank Rd Lancaster, PA	1.0–3.0	1.0–2.5	1423	$2,062	$1.45	13d	21	1.09mi
1415 Spencer Ave Lancaster, PA	1.0–3.0	1.0–2.0	1181	$3,720	$3.15	13d	1	1.11mi
1633A Judie Ln Lancaster, PA	1.0–2.0	1.0–2.0	848	$1,698	$2.00	13d	13	1.15mi
1115 Marietta Ave Unit WH15037 Lancaster, PA	2.0	2.0	1298	$1,695	$1.31	43d	1	1.16mi
816 N Prince St Lancaster, PA	1.0–2.0	1.0–2.0	794	$2,195	$2.76	13d	7	1.16mi
204 Elmshire Dr Lancaster, PA	3.0	2.5	1364	$1,595	$1.17	44d	1	1.17mi
767 Clermont Ave Lancaster, PA	2.0	1.0	850	$1,395	$1.64	13d	1	1.32mi
605 Lehigh Ave Lancaster, PA	2.0	1.0	784	$1,395	$1.78	43d	1	1.32mi
135 E Ross St Unit 2nd Floor Lancaster, PA	2.0	1.0	1000	$1,575	$1.57	13d	1	1.35mi
99 Dickinson Ave Lancaster, PA	2.0	2.0	981	$1,634	$1.67	13d	1	1.42mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $149,900 Pending 16 DOM
2. 2026-06-03
   days on market $149,900 Active 14 DOM
3. 2026-06-02
   days on market $149,900 Active 13 DOM
4. 2026-06-01
   days on market $149,900 Active 12 DOM
5. 2026-05-31
   days on market $149,900 Active 11 DOM
6. 2026-05-30
   days on market $149,900 Active 10 DOM
7. 2026-05-20
   listed $149,900 Active
8. 2013-07-11
   historical
9. 2013-01-11
   listed $59,900
10. 2003-02-27
    soldstatus $39,000 355-char remark

    Show marketing remark (355 chars)

    * GORGEOUS NEWLY RENOVATED OAK KITCHEN * UPDATED BATH * NEW REPLACEMENT WINDOWS * VINYL SIDING * NEWER STOVE & REFRIGERATOR * FAIRLY NEW ROOF * WATER HEATER & FURNACE * STORAGE UNDER THE EAVES IN THE ATTIC * LOTS OF CEILING FANS & 3 WINDOW A/C UNITS * VERY NICE INSIDE * MOVE RIGHT IN * POSSIBLE 1/2 BATH ON FIRST FLOOR *

11. 2003-02-10
    historical 355-char remark

    Show marketing remark (355 chars)

    * GORGEOUS NEWLY RENOVATED OAK KITCHEN * UPDATED BATH * NEW REPLACEMENT WINDOWS * VINYL SIDING * NEWER STOVE & REFRIGERATOR * FAIRLY NEW ROOF * WATER HEATER & FURNACE * STORAGE UNDER THE EAVES IN THE ATTIC * LOTS OF CEILING FANS & 3 WINDOW A/C UNITS * VERY NICE INSIDE * MOVE RIGHT IN * POSSIBLE 1/2 BATH ON FIRST FLOOR *

12. 2002-09-09
    listed $42,000 355-char remark

    Show marketing remark (355 chars)

    * GORGEOUS NEWLY RENOVATED OAK KITCHEN * UPDATED BATH * NEW REPLACEMENT WINDOWS * VINYL SIDING * NEWER STOVE & REFRIGERATOR * FAIRLY NEW ROOF * WATER HEATER & FURNACE * STORAGE UNDER THE EAVES IN THE ATTIC * LOTS OF CEILING FANS & 3 WINDOW A/C UNITS * VERY NICE INSIDE * MOVE RIGHT IN * POSSIBLE 1/2 BATH ON FIRST FLOOR *

ⓘ 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: $2,099 · $175/mo
• Projected year-2 tax: $2,234 · $186/mo
• Expected delta: +$135/yr (+$11/mo · 6.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 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: $20,722
• − Mortgage interest: −$8,397
• − Property taxes: −$2,099
• − Insurance: −$750
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$4,361
• Taxable income: $1,801
• Est. tax owed @ 24.0%: −$432
• After-tax cash flow: $3,657/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: 1,171
• Metro: Lancaster, PA
• Population (ZIP): 67,571
• Household income: $77,084
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2557.0

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 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 27% Two or more races 12% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 19% Cuban 1% Dominican 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada, China, India
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 1% Chinese 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: ▼ -508.78%
• Current HPI: 289.3324
• Rent YoY: ▲ 0.47%
• 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

+256.9% since first listed

6 events — show timeline

• 2026-05-20 Listed $149,900 BRIGHT MLS
• 2013-07-11 Listing Removed — BRIGHT MLS
• 2013-01-11 Listed $59,900 BRIGHT MLS
• 2003-02-27 Sold (MLS) $39,000 BRIGHT MLS
• 2003-02-10 Listing Removed — BRIGHT MLS
• 2002-09-09 Listed $42,000 BRIGHT MLS

Property tax history

-0.1%/yr

Latest (2026): $2,099 · +3.3% YoY. Source: county tax records.