229 N Maple St · Elizabethtown, PA 17022

$150,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 23 Days on market

Built 1955 6,534 sqft lot

---

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).

• Cash flow +14.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.7/10.0
• DSCR +4.2/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property will be offered at Public Auction on Wednesday, July 1, 2026 @ 6pm. The listing price is the opening bid only and in no way reflects the final sale price. 10% down due at auction, 2% transfer tax to be paid by the purchaser, real estate taxes prorated. This affordable home features a functional and inviting layout with comfortable living spaces throughout. The main level includes a cozy living room with attic access, an eat-in kitchen, a screened-in porch perfect for relaxing, and three bedrooms, one of which could easily serve as a home office or flex space. The lower level offers additional living and workspace potential with a spacious family room, laundry area, and a ded

Key facts

• 6,534 sq ft lot
• Garage
• Built 1955

Property features AI

Exterior

• Parking: Detached rear-entry garage (1 car); Driveway spaces for 2 vehicles; Total of 3 garage/parking spaces
• Utilities: Public water; Public sewer; Municipal trash service; 100 amp electric service
• Home design: Detached property
• Construction: Frame construction with metal siding; Composite/shingle roof; Block foundation; Garage structure
• Exterior features: Screened porch; Porch(es); Partially finished basement; Below-grade finished space

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump heating; Heat pump cooling; Whole-house fan; Natural gas fuel for heating and cooling; Electric hot water
• Interior features: Tub/shower; Built-in shelving; Cedar closet(s); Ceiling fan(s); Eat-in kitchen
• Laundry & utility: Laundry in the basement; Basement workshop area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $18 ($221/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 $145k (3.0% below list).
• Recommended offer: $145k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.2% 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: East High Street El Sch (math 57% / reading 67%, grade B, #313 of 1,518 statewide, top 24%, 481 students, 46% FRL); Elizabethtown Area Ms (math 24% / reading 52%, grade F, #283 of 512 statewide, top 57%, 875 students, 40% FRL); Elizabethtown Area Shs (math 67% / reading 24%, grade D-, #183 of 437 statewide, top 43%, 1,249 students, 29% FRL) — zoned schools average 38% FRL vs 22% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.5%/yr); 203 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $145,489 (3.0% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $304,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 Highlawn Ave	0.31mi	2/1.0	1,050 (-1%)	10mo	$324,900	$309	77
28 Laurel Ave	0.31mi	2/1.0	960 (-9%)	6mo	$249,900	$260	65
146 W Hummelstown St	0.16mi	3/1.0 (+1)	1,148 (+9%)	11mo	$262,000	$228	64
525 Highlawn Ave	0.49mi	3/1.0 (+1)	1,040 (-2%)	13mo	$300,000	$288	59
120 N Locust St	0.42mi	3/2.0 (+1)	1,140 (+8%)	2mo	$295,000	$259	57
403 N Locust St	0.50mi	3/1.0 (+1)	1,092 (+3%)	13mo	$325,000	$298	55
535 N Locust St	0.58mi	3/1.0 (+1)	950 (-10%)	2mo	$290,000	$305	49
343 N Locust St	0.49mi	3/1.0 (+1)	1,008 (-4%)	22mo	$317,500	$315	46
605 N Mount Joy St	0.67mi	2/1.5	1,178 (+12%)	3mo	$301,000	$256	45
307 N Mount Joy St	0.54mi	3/1.0 (+1)	1,120 (+6%)	20mo	$255,000	$228	43
15 Laurel Ave	0.31mi	3/2.0 (+1)	1,163 (+10%)	23mo	$353,000	$304	40
406 S Market St	0.65mi	2/1.0	1,172 (+11%)	17mo	$179,000	$153	37

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 · 6.52% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-17,717
• Equity at exit: $22,365

10-year hold

• IRR: 2.8%
• Equity multiple: 1.24×
• Total profit: $9,946
• Equity at exit: $12,969

Cash invested: $42,000 (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 17022

• Home prices YoY: -29.0%
• Rents YoY: 6.5%
• Active inventory: 203
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$282 /mo · $3,382/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $18

Break-even live

Break-even rent $1,432

Max offer price $150,000

Occupancy floor 94%

Sensitivity live

Price	-10% $103	-5% $61	+0% $18	+5% $-24	+10% $-66
Rent	-10% $-96	-5% $-39	+0% $18	+5% $76	+10% $133
Rate	-1.0pp $94	-0.5pp $57	base $18	+0.5pp $-20	+1.0pp $-60

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 S Poplar St Elizabethtown, PA	1.0	1.0	636	$1,485	$2.33	16d	1	0.45mi

Listing history 18 events

1. 2026-06-22
   days on market $150,000 Active 23 DOM
2. 2026-06-18
   days on market $150,000 Active 20 DOM
3. 2026-06-17
   days on market $150,000 Active 19 DOM
4. 2026-06-16
   days on market $150,000 Active 18 DOM
5. 2026-06-15
   days on market $150,000 Active 17 DOM
6. 2026-06-14
   days on market $150,000 Active 15 DOM
7. 2026-06-13
   days on market $150,000 Active 14 DOM
8. 2026-06-10
   days on market $150,000 Active 12 DOM
9. 2026-06-09
   days on market $150,000 Active 11 DOM
10. 2026-06-08
    days on market $150,000 Active 10 DOM
11. 2026-06-07
    days on market $150,000 Active 9 DOM
12. 2026-06-05
    days on market $150,000 Active 6 DOM
13. 2026-06-03
    days on market $150,000 Active 5 DOM
14. 2026-06-02
    days on market $150,000 Active 4 DOM
15. 2026-06-01
    days on market $150,000 Active 3 DOM
16. 2026-05-31
    days on market $150,000 Active 2 DOM
17. 2026-05-30
    remarks 699-char remark
18. 2026-05-30
    listed $150,000 Active 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: $3,382 · $282/mo
• Projected year-2 tax: $3,382 · $282/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,459
• − Mortgage interest: −$8,402
• − Property taxes: −$3,382
• − Insurance: −$750
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$4,364
• Taxable loss: −$2,232
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $757/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

1 event — show timeline

• 2026-05-29 Listed $150,000 BRIGHT MLS

Property tax history

+2.2%/yr

Latest (2026): $3,382 · +3.7% YoY. Source: county tax records.