547 Manor St · Lancaster, PA 17603

$149,000

2 bd · 1.0 ba · 702 sqft · Townhouse public records · 58 Days on market

Built 1869 1,307 sqft lot $212/sqft · 67% below area

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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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.8/10.0
• 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

Attention Investors!! Turn key opportunity, tenant occupied with tenants paying all utilities except trash.

Key facts

• Built 1869
• Listed 57 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: End of row townhouse; Fee simple ownership
• Construction: Frame construction with metal siding; Stone foundation; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone; Tidal water: No

Interior

• Bedrooms: 2 bedrooms on the upper level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Forced air heating; Natural gas heat; Electric hot water
• Interior features: Unfinished basement; Two or more access exits

🏷️ Possibly a rental listed for sale. The $149,000 price doesn't fit this home's estimated sale value (~$455,947) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $149k.

Deal economics

• At list price, monthly cash flow is $188 ($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 $146k (2.2% below list).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.4% 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; 296 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 58 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $149k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1869 — 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 $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (median comp): $455,947
• List price: $149,000
• Delta: -67.32%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
732 Marietta Ave	0.33mi	2/1.0	715 (+2%)	1mo	$157,000	$220	81
550 Manor St	0.02mi	2/1.0	740 (+5%)	12mo	$180,000	$243	81
32 N Concord St	0.29mi	2/1.0	720 (+3%)	8mo	$170,000	$236	75
327 Beaver St	0.54mi	2/1.5	702 (0%)	3mo	$159,900	$228	70
625 5th St	0.32mi	2/1.0	752 (+7%)	8mo	$155,000	$206	66
35-1/2 N Mulberry St	0.35mi	2/1.0	774 (+10%)	15mo	$252,000	$326	54
307 Beaver St	0.52mi	1/1.0 (-1)	672 (-4%)	15mo	$112,000	$167	51
309 Beaver St	0.53mi	1/1.0 (-1)	744 (+6%)	15mo	$117,000	$157	48
424 E Strawberry St	0.63mi	2/1.0	624 (-11%)	6mo	$143,000	$229	47
917 Columbia Ave #545	0.62mi	1/1.0 (-1)	765 (+9%)	10mo	$174,747	$228	43
917 Columbia Ave #217	0.62mi	1/1.0 (-1)	790 (+12%)	7mo	$153,000	$194	39
917 Columbia Ave #211	0.62mi	1/1.0 (-1)	599 (-15%)	9mo	$145,000	$242	34

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: -10.7%
• Equity multiple: 0.62×
• Total profit: $-15,833
• Equity at exit: $22,216

10-year hold

• IRR: -5.2%
• Equity multiple: 0.70×
• Total profit: $-12,590
• Equity at exit: $12,883

Cash invested: $41,720 (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: 296
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$781
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $188

Break-even live

Break-even rent $1,219

Max offer price $149,000

Occupancy floor 82%

Sensitivity live

Price	-10% $272	-5% $230	+0% $188	+5% $145	+10% $103
Rent	-10% $72	-5% $130	+0% $188	+5% $245	+10% $303
Rate	-1.0pp $263	-0.5pp $225	base $188	+0.5pp $149	+1.0pp $110

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
475 Saint Joseph St Lancaster, PA	1.0	1.0	750	$1,000	$1.33	15d	1	0.19mi
437 W Grant St Lancaster, PA	1.0	1.0	713	$1,795	$2.52	24d	1	0.22mi
437 W Grant St Unit 302 Lancaster, PA	1.0	1.0	650	$1,775	$2.73	24d	1	0.22mi
502 4th St Apt C Lancaster, PA	1.0	1.0	400	$1,200	$3.00	45d	1	0.25mi
431 Fremont St Unit 4 Lancaster, PA	1.0	1.0	641	$1,095	$1.71	45d	1	0.30mi
35 N Mulberry St Unit 1st floor Lancaster, PA	1.0	1.0	700	$1,085	$1.55	45d	1	0.34mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$3,199	$2.51	15d	48	0.48mi
34 Conestoga St Unit 1 Lancaster, PA	2.0	1.0	671	$995	$1.48	22d	1	0.49mi
25 Conestoga St Unit 3 Lancaster, PA	2.0	1.0	505	$1,095	$2.17	45d	1	0.50mi
249 N Mulberry St Unit 4 Lancaster, PA	1.0	1.0	510	$1,150	$2.25	24d	1	0.53mi
323 N Mulberry St Unit 4 Lancaster, PA	1.0	1.0	600	$1,500	$2.50	15d	1	0.59mi
227 N Prince St Lancaster, PA	1.0	1.0	483	$1,575	$3.26	15d	4	0.59mi
445 W Lemon St Unit 4 Lancaster, PA	1.0	1.5	540	$1,445	$2.68	24d	1	0.60mi
344 N Mulberry St Unit 2 Lancaster, PA	1.0	1.0	722	$1,065	$1.48	24d	1	0.61mi
202 N Queen St Lancaster, PA	2.0	1.0–2.0	697	$2,718	$3.90	15d	12	0.62mi
11 E Walnut St Unit 3 Lancaster, PA	1.0	1.0	475	$1,325	$2.79	45d	1	0.72mi
38 E Walnut St Lancaster, PA	1.0	1.0	587	$1,495	$2.55	24d	1	0.74mi
1127 Wabank St Lancaster, PA	1.0–2.0	1.0	760	$1,650	$2.17	24d	1	0.76mi
347 N Queen St Lancaster, PA	1.0	1.0	687	$2,025	$2.95	15d	10	0.77mi
205 E King St Unit 1 Lancaster, PA	1.0	1.0	480	$1,335	$2.78	45d	1	0.78mi
40 W James St Unit 2 Lancaster, PA	1.0	1.0	500	$1,200	$2.40	15d	1	0.80mi
72 Howard Ave Lancaster, PA	2.0	1.0	572	$1,495	$2.61	22d	1	0.85mi
114 E Lemon St Lancaster, PA	1.0	1.0	627	$1,347	$2.15	15d	2	0.86mi
480 Euclid Ave Lancaster, PA	1.0–2.0	1.0–1.5	830	$1,695	$2.04	45d	1	0.86mi
506 N Queen St Unit 2 Lancaster, PA	1.0	1.0	556	$1,500	$2.70	15d	1	0.86mi
61 Howard Ave Apt 1 Lancaster, PA	2.0	1.0	650	$1,045	$1.61	45d	1	0.89mi
446 N Duke St Unit 1R Lancaster, PA	1.0	1.0	580	$1,095	$1.89	45d	1	0.91mi
446 N Duke St Unit 2F Lancaster, PA	1.0	1.0	520	$1,085	$2.09	24d	1	0.91mi
816 N Prince St Lancaster, PA	1.0–2.0	1.0–2.0	794	$2,195	$2.76	15d	7	1.04mi
442 E King St Lancaster, PA	1.0	1.0	600	$925	$1.54	24d	1	1.06mi
709 N Duke St Lancaster, PA	1.0	1.0	588	$1,550	$2.64	22d	1	1.11mi
1633A Judie Ln Lancaster, PA	1.0–2.0	1.0–2.0	848	$1,698	$2.00	14d	13	1.19mi

Listing history 40 events

1. 2026-06-21
   days on market $149,000 Active 58 DOM
2. 2026-06-18
   days on market $149,000 Active 55 DOM
3. 2026-06-17
   days on market $149,000 Active 54 DOM
4. 2026-06-16
   days on market $149,000 Active 53 DOM
5. 2026-06-15
   days on market $149,000 Active 52 DOM
6. 2026-06-14
   days on market $149,000 Active 50 DOM
7. 2026-06-13
   days on market $149,000 Active 49 DOM
8. 2026-06-10
   days on market $149,000 Active 47 DOM
9. 2026-06-09
   pricedays on market $149,000 Active 46 DOM
10. 2026-06-08
    days on market $154,000 Active 45 DOM
11. 2026-06-07
    days on market $154,000 Active 44 DOM
12. 2026-06-03
    days on market $154,000 Active 40 DOM
13. 2026-06-02
    days on market $154,000 Active 39 DOM
14. 2026-06-01
    days on market $154,000 Active 38 DOM
15. 2026-05-31
    days on market $154,000 Active 37 DOM
16. 2026-05-30
    days on market $154,000 Active 36 DOM
17. 2026-05-05
    price $158,500 342-char remark
18. 2026-04-24
    listed $168,500 Active 342-char remark
19. 2018-12-20
    soldstatus $53,000
20. 2018-07-06
    soldstatus $30,000
21. 2018-07-05
    soldstatus $30,000 107-char remark

    Show marketing remark (107 chars)

    Attention Investors!! Turn key opportunity, tenant occupied with tenants paying all utilities except trash.

22. 2018-06-04
    historical 107-char remark

    Show marketing remark (107 chars)

    Attention Investors!! Turn key opportunity, tenant occupied with tenants paying all utilities except trash.

23. 2017-09-08
    listed $40,000 107-char remark

    Show marketing remark (107 chars)

    Attention Investors!! Turn key opportunity, tenant occupied with tenants paying all utilities except trash.

24. 2016-03-08
    soldstatus $26,000

    Show marketing remark (114 chars)

    Great Investment Opportunity!Currently rented on a month to month lease for $550/month. Tenant pays all utilities.

25. 2016-03-08
    soldstatus $26,000

    Show marketing remark (114 chars)

    Great Investment Opportunity!Currently rented on a month to month lease for $550/month. Tenant pays all utilities.

26. 2016-01-19
    historical

    Show marketing remark (114 chars)

    Great Investment Opportunity!Currently rented on a month to month lease for $550/month. Tenant pays all utilities.

27. 2015-11-11
    listed $29,000

    Show marketing remark (114 chars)

    Great Investment Opportunity!Currently rented on a month to month lease for $550/month. Tenant pays all utilities.

28. 2014-05-16
    historical
29. 2014-01-09
    listed $41,000
30. 2013-10-16
    historical
31. 2013-05-10
    listed $45,000
32. 2012-06-15
    historical
33. 2011-11-04
    listed $45,000
34. 2008-05-17
    historical
35. 2007-12-05
    listed $55,000
36. 2003-10-31
    soldstatus $24,000
37. 2001-08-31
    soldstatus $22,000
38. 2001-07-09
    historical
39. 2001-06-01
    listed $17,900
40. 1993-06-01
    soldstatus $38,000

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,896 · $158/mo
• Expected delta: +$458/yr (+$38/mo · 31.9%)

ⓘ 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: $17,481
• − Mortgage interest: −$8,346
• − Property taxes: −$1,438
• − Insurance: −$745
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − Depreciation: −$4,335
• Taxable loss: −$179
• Est. tax savings @ 24.0%: +$43
• After-tax cash flow: $2,294/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): 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

+292.1% since first listed

26 events — show timeline

• 2026-06-09 Price Changed $149,000 BRIGHT MLS
• 2026-05-21 Price Changed $154,000 BRIGHT MLS
• 2026-05-05 Price Changed $158,500 BRIGHT MLS
• 2026-04-24 Listed $168,500 BRIGHT MLS
• 2018-12-20 Sold (Public Records) $53,000 Public Records
• 2018-07-06 Sold (Public Records) $30,000 Public Records
• 2018-07-05 Sold (MLS) $30,000 BRIGHT MLS
• 2018-06-04 Listing Removed — BRIGHT MLS
• 2017-09-08 Listed $40,000 BRIGHT MLS
• 2016-03-08 Sold (Public Records) $26,000 Public Records
• 2016-03-08 Sold (MLS) $26,000 BRIGHT MLS
• 2016-01-19 Listing Removed — BRIGHT MLS
• 2015-11-11 Listed $29,000 BRIGHT MLS
• 2014-05-16 Listing Removed — BRIGHT MLS
• 2014-01-09 Listed $41,000 BRIGHT MLS
• 2013-10-16 Listing Removed — BRIGHT MLS
• 2013-05-10 Listed $45,000 BRIGHT MLS
• 2012-06-15 Listing Removed — BRIGHT MLS
• 2011-11-04 Listed $45,000 BRIGHT MLS
• 2008-05-17 Listing Removed — BRIGHT MLS
• 2007-12-05 Listed $55,000 BRIGHT MLS
• 2003-10-31 Sold (Public Records) $24,000 Public Records
• 2001-08-31 Sold (MLS) $22,000 BRIGHT MLS
• 2001-07-09 Listing Removed — BRIGHT MLS
• 2001-06-01 Listed $17,900 BRIGHT MLS
• 1993-06-01 Sold (Public Records) $38,000 Public Records

Property tax history

-1.4%/yr

Latest (2026): $1,438 · +3.3% YoY. Source: county tax records.