3440 Gregway Dr · Chambersburg, PA 17202

$159,900

3 bd · 1.5 ba · 1,280 sqft · Townhouse · 11 Days on market

Built 1975 Fair condition 3,049 sqft lot $125/sqft · 10% below area Est $177k · 10% 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 +25.3/30.0
• ARV discount +11.8/15.0
• DSCR +8.3/10.0
• 1% rule +6.3/10.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3440 Gregway Dr! Freshly updated and move-in ready! This charming 3-bedroom, 1.5-bath townhome offers the perfect blend of modern updates and everyday comfort — all with NO HOA fees. Step inside to find a bright and inviting layout featuring updated flooring, fresh paint, and a functional layout. The spacious living and dining areas provide plenty of room for relaxing or entertaining, while the three well-sized bedrooms offer flexibility for guests, a home office, or growing needs. Enjoy low-maintenance living with a private outdoor space perfect for morning coffee or evening gatherings. Conveniently located near shopping, dining, parks, and commuter routes, this home is an

Key facts

• Fresh paint
• Updated flooring
• Conveniently located

Tags

• UPDATED FLOORING
• FRESH PAINT
• PRIVATE OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Aluminum siding; Crawl space foundation; Above-grade and below-grade structures
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Baseboard electric heating; Central air conditioning; Electric hot water
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $160k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 9.0% vs local median 3.9% in Chambersburg — 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 74/100 on livability (#530 in PA, #4,894 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime D, employment 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.
• Market conditions: 224 active listings in the ZIP; 633 units permitted in Franklin County in 2024 (112 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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $159,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1975 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.13% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 7.4

CMA / ARV

• ARV (median comp): $176,733
• List price: $159,900
• Delta: -12.35%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3445 Gregway Dr	0.02mi	3/1.5	1,280 (0%)	2mo	$143,900	$112	98
3550 Gregway Dr	0.06mi	3/1.5	1,344 (+5%)	6mo	$178,000	$132	84
3542 Gregway Dr #2	0.05mi	3/1.5	1,300 (+2%)	22mo	$187,000	$144	77
140 Meadowcreek Dr S #3	0.09mi	2/1.5 (-1)	1,250 (-2%)	16mo	$185,900	$149	74
3580 Gregway Dr	0.09mi	3/1.5	1,344 (+5%)	17mo	$165,000	$123	74
3544 Gregway Dr	0.05mi	3/1.5	1,400 (+9%)	15mo	$156,000	$111	70
110 Meadowcreek Dr	0.09mi	3/1.5	1,452 (+13%)	16mo	$209,000	$144	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-7,123
• Equity at exit: $23,842

10-year hold

• IRR: 5.5%
• Equity multiple: 1.40×
• Total profit: $18,120
• Equity at exit: $13,825

Cash invested: $44,772 (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 17202

• Home prices YoY: -26.1%
• Active inventory: 224
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,812 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$166 /mo · $1,990/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $294

Break-even live

Break-even rent $1,440

Max offer price $159,900

Occupancy floor 79%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $159,900 Active 11 DOM
2. 2026-06-18
   days on market $159,900 Active 10 DOM
3. 2026-06-17
   days on market $159,900 Active 9 DOM
4. 2026-06-16
   days on market $159,900 Active 8 DOM
5. 2026-06-15
   pricestatus $159,900 Active 7 DOM
6. 2026-06-09
   pricestatus $162,900 Pending 7 DOM
7. 2026-06-08
   days on market $159,900 Active 7 DOM
8. 2026-06-07
   days on market $159,900 Active 6 DOM
9. 2026-06-03
   days on market $159,900 Active 2 DOM
10. 2026-06-02
    remarks 693-char remark
11. 2026-06-02
    pricestatusdays on marketlisting id $159,900 Active 1 DOM
12. 2026-05-12
    historical
13. 2026-05-12
    price $149,900
14. 2026-04-17
    status Active
15. 2026-04-06
    status Pending
16. 2026-03-30
    listed $154,900 Active
17. 2026-03-26
    historical

ⓘ 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: $1,990 · $166/mo
• Projected year-2 tax: $2,258 · $188/mo
• Expected delta: +$268/yr (+$22/mo · 13.5%)

ⓘ 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 (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,748
• − Mortgage interest: −$8,957
• − Property taxes: −$1,990
• − Insurance: −$1,597
• − Repairs & maintenance: −$1,740
• − Management: −$1,740
• − Depreciation: −$4,652
• Taxable income: $1,072
• Est. tax owed @ 24.0%: −$257
• After-tax cash flow: $3,274/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 · 1 photo

Fair 45/100 Moderate rehab

This townhouse requires moderate repairs and maintenance, including painting the exterior siding and interior walls, and improving the landscaping. These updates will significantly enhance its curb appeal and value.

Repairs flagged

• Major exterior siding — Peeling paint
• Major interior walls — Peeling paint
• Minor landscaping — Overgrown grass

Value-add opportunities

• Both paint exterior siding — Enhances curb appeal and value
• Both paint interior walls — Improves interior appearance and value
• Both landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Peeling paint	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
landscaping · Overgrown grass	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both paint exterior siding — Enhances curb appeal and value ↑
• Both paint interior walls — Improves interior appearance and value ↑
• Both landscaping — Enhances curb appeal and value ↑

ⓘ 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 — Chambersburg

• Score: 74/100
• State rank: #530
• US rank: #4894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 27,554
• Population (ZIP): 32,772

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 5% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 3% Italian 3% Polish 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -81.86%
• Current HPI: 232.0695
• Rent YoY: —
• Metro: —
• 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

+3.2% since first listed

11 events — show timeline

• 2026-06-15 Price Changed $159,900 BRIGHT MLS
• 2026-06-15 Relisted — BRIGHT MLS
• 2026-06-08 Pending — BRIGHT MLS
• 2026-06-08 Price Changed $162,900 BRIGHT MLS
• 2026-06-01 Listed $159,900 BRIGHT MLS
• 2026-05-12 Listing Removed — BRIGHT MLS
• 2026-05-12 Price Changed $149,900 BRIGHT MLS
• 2026-04-17 Relisted — BRIGHT MLS
• 2026-04-06 Pending — BRIGHT MLS
• 2026-03-30 Listed $154,900 BRIGHT MLS
• 2026-03-26 Coming Soon — BRIGHT MLS

Property tax history

+2.8%/yr

Latest (2026): $1,990 · +2.4% YoY. Source: county tax records.