8 & 10 N Kinzer Rd · Gap, PA 17535

$300,000

2 bd · 2.5 ba · 2,233 sqft · MultiFamily public records · 45 Days on market

Built 1910 9,583 sqft lot $134/sqft · 7% above area Est $280k · 7% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Appreciation +6.4/10.0
• ARV discount +4.3/15.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

THIS PROPERTY IS GOING TO AUCTION ON THURSDAY MAY 21, 2026 @ 6:00 PM. THE LIST PRICE ONLY REFELCTS THE SUGGESTED STARTING BID. Renovated 2-unit, 2-story home with a 2-bay detached garage and storage shed on a . 22 acre lot. Unit 1 - first floor - features a dining room/kitchen area, living room with gas fireplace, office/family room with vaulted ceiling and skylights, bedroom with private bath and WIC, laundry area, closet and power room. Unit 2 - second floor - offers an open dining area/kitchen with walk-in pantry, bedroom with 2-closets, full bath with skylights and laundry. Partial basement with Bilco egress door, on-site well, public sewer, individual utilities, heat pump/central AC, 100-gallon LP tank. Projected rental income is $34,800. Outbuildings include a 24' x 21' insulated 2-car detached garage/shop and 8' x 12' storage shed. Nice macadam drive and parking area. Tremendous investment opportunity, professionally renovated, low maintenance, absolute move-in ready condition!

Key facts

• Office family room
• 2 unit home
• Storage shed

Tags

• 2 UNIT HOME
• DETACHED GARAGE
• STORAGE SHED
• DINING ROOM KITCHEN AREA
• LIVING ROOM WITH GAS FIREPLACE
• OFFICE FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $603/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#352 in PA, #3,089 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Pequea Valley SD (rural): math 27% / reading 44% proficiency, ranked #390 of 539 in PA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (2.9% local appreciation)).
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $250k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $291,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.37% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• GRM: 6.1

CMA / ARV

• ARV (median comp): $280,000
• List price: $300,000
• Delta: 7.14%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

2.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.32×
• Total profit: $110,770
• Equity at exit: $132,527

10-year hold

• IRR: 24.4%
• Equity multiple: 4.45×
• Total profit: $289,576
• Equity at exit: $202,420

Cash invested: $84,000 (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 17535

• Home prices YoY: 1.1%
• Active inventory: 5
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $4,119 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$350 /mo · $4,198/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$865
• Net cashflow: $1,206

Break-even live

Break-even rent $2,592

Max offer price $300,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,376	-5% $1,291	+0% $1,206	+5% $1,121	+10% $1,036
Rent	-10% $881	-5% $1,043	+0% $1,206	+5% $1,369	+10% $1,531
Rate	-1.0pp $1,357	-0.5pp $1,282	base $1,206	+0.5pp $1,128	+1.0pp $1,049

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,120
Total (2 units)			$4,119

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-07
   listed $300,000 Active 999-char remark

   Show marketing remark (999 chars)

   THIS PROPERTY IS GOING TO AUCTION ON THURSDAY MAY 21, 2026 @ 6:00 PM. THE LIST PRICE ONLY REFELCTS THE SUGGESTED STARTING BID. Renovated 2-unit, 2-story home with a 2-bay detached garage and storage shed on a . 22 acre lot. Unit 1 - first floor - features a dining room/kitchen area, living room with gas fireplace, office/family room with vaulted ceiling and skylights, bedroom with private bath and WIC, laundry area, closet and power room. Unit 2 - second floor - offers an open dining area/kitchen with walk-in pantry, bedroom with 2-closets, full bath with skylights and laundry. Partial basement with Bilco egress door, on-site well, public sewer, individual utilities, heat pump/central AC, 100-gallon LP tank. Projected rental income is $34,800. Outbuildings include a 24' x 21' insulated 2-car detached garage/shop and 8' x 12' storage shed. Nice macadam drive and parking area. Tremendous investment opportunity, professionally renovated, low maintenance, absolute move-in ready condition!

2. 2017-08-15
   soldstatus $249,500
3. 2010-06-01
   soldstatus $260,000
4. 2006-11-06
   soldstatus $114,000

ⓘ 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: $4,198 · $350/mo
• Projected year-2 tax: $4,469 · $372/mo
• Expected delta: +$271/yr (+$23/mo · 6.5%)

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,428
• − Mortgage interest: −$16,805
• − Property taxes: −$4,198
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,954
• − Management: −$3,954
• − Depreciation: −$8,727
• Taxable income: $10,290
• Est. tax owed @ 24.0%: −$2,470
• After-tax cash flow: $12,002/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: Pequea Valley SD
• NCES district ID: 4218900
• Math proficiency: 27% ▼ -13.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $58,968
• Composite: 31.56/100
• National rank: #5955
• State rank: #390 of 539 in PA

Livability — Gap

• Score: 77/100
• State rank: #352
• US rank: #3089

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,651

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 (92%)
• Race & ethnicity: White 92% Black 4% Hispanic / Latino 3%
• Common ancestry: Polish 6% Romanian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 63% English-only · German/W. Germanic 34% Spanish 2% Other Indo-European 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: ▲ 2.86%
• Current HPI: 254.8178
• 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

+163.2% since first listed

4 events — show timeline

• 2026-04-07 Listed $300,000 BRIGHT MLS
• 2017-08-15 Sold (Public Records) $249,500 Public Records
• 2010-06-01 Sold (Public Records) $260,000 Public Records
• 2006-11-06 Sold (Public Records) $114,000 Public Records

Property tax history

+3.6%/yr

Latest (2026): $4,198 · +1.4% YoY. Source: county tax records.