831 Fairview Ave · Waynesboro, PA 17268

$189,000

3 bd · 1.0 ba · 1,519 sqft · Other · 10 Days on market

Built 1968 0.31 ac lot

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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 +12.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NICE BRICK RANCHER BORDERING ROTARY PARK IN WAYNESBORO! This brick rancher features 3-4 bedrooms, 1.5 bathrooms, a living room, kitchen, detached 2-car garage, and more! Hardwood floors extend through much of the home! Bordering Rotary Park, the property offers a wonderful setting to enjoy the outdoors with nearby amenities including a fitness trail, pavilion, basketball courts, and plenty of open space. Conveniently located close to schools, shopping, recreation, and everyday conveniences. The home is in need of some TLC but offers plenty of potential in an excellent location! There is a solar lease, the buyer must assume the lease. This property will be offered at auction on Monday, June

Key facts

• 0.31 acre lot
• Garage
• Built 1968

Property features AI

Exterior

• Parking: Detached garage with one garage space; Driveway; Covered parking; Garage includes additional storage area
• Utilities: Electric heating and cooling; Electric hot water; Public water and sewer
• Home design: Detached property; Above-grade and below-grade living areas; Below-grade finished area (estimated 455); Above-grade finished area (estimated 1,064); Located in Waynesboro Borough
• Construction: Brick construction; Block foundation
• Exterior features: Public water; Public sewer; No tidal water

Interior

• Kitchen: Kitchen
• Bedrooms: Three bedrooms on the main level (Bedroom 2, Bedroom 3, Bedroom 4)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard electric heat; Central air conditioning (electric)
• Interior features: Living room; Family room; Storage room; Partially finished full basement
• Laundry & utility: Laundry area; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $189k.

Deal economics

• At list price, monthly cash flow is $-25 ($-306/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (9.3% below list).
• Recommended offer: $171k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.3% in Waynesboro — 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 78/100 on livability (#280 in PA, #2,482 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, commute F.
• Waynesboro Area SD (town): math 36% / reading 52% proficiency, ranked #283 of 539 in PA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairview Avenue El Sch (math 31% / reading 52%, grade F, #927 of 1,518 statewide, top 61%, 620 students, 70% FRL); Waynesboro Area Ms (math 27% / reading 48%, grade F, #292 of 512 statewide, top 58%, 990 students, 54% FRL); Waynesboro Area Shs (math 69% / reading 24%, grade D-, #173 of 437 statewide, top 40%, 1,439 students, 47% FRL) — zoned schools average 57% FRL vs 36% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 234 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,452 (9.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1968 — 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. Schools are B-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?
5. 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?
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: 0.91% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-32,179
• Equity at exit: $28,181

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-29,822
• Equity at exit: $16,341

Cash invested: $52,920 (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 17268

• Active inventory: 234
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,715 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$310 /mo · $3,721/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-25

Break-even live

Break-even rent $1,747

Max offer price $184,497

Occupancy floor 96%

Sensitivity live

Price	-10% $81	-5% $28	+0% $-25	+5% $-79	+10% $-132
Rent	-10% $-161	-5% $-93	+0% $-25	+5% $42	+10% $110
Rate	-1.0pp $70	-0.5pp $23	base $-25	+0.5pp $-74	+1.0pp $-124

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Ridge Ave Waynesboro, PA	3.0	1.0	1300	$1,500	$1.15	45d	1	0.68mi
230 W 2nd St Unit A Waynesboro, PA	2.0	2.0	2000	$1,200	$0.60	45d	1	0.90mi
23 Philadelphia Ave Waynesboro, PA	3.0	3.0	1985	$2,200	$1.11	45d	1	0.91mi
457 Frick Ave Waynesboro, PA	3.0	2.5	2193	$2,200	$1.00	22d	1	1.39mi

Listing history 14 events

1. 2026-06-18
   status $189,000 Pending 10 DOM
2. 2026-06-18
   days on market $189,000 Active 10 DOM
3. 2026-06-17
   days on market $189,000 Active 9 DOM
4. 2026-06-16
   days on market $189,000 Active 8 DOM
5. 2026-06-15
   days on market $189,000 Active 7 DOM
6. 2026-06-14
   days on market $189,000 Active 5 DOM
7. 2026-06-13
   days on market $189,000 Active 4 DOM
8. 2026-06-10
   days on market $189,000 Active 2 DOM
9. 2026-06-09
   statusdays on market $189,000 Active 1 DOM
10. 2026-06-08
    days on market $189,000 Coming Soon 6 DOM
11. 2026-06-07
    days on market $189,000 Coming Soon 5 DOM
12. 2026-06-05
    days on market $189,000 Coming Soon 2 DOM
13. 2026-06-03
    remarks 699-char remark
14. 2026-06-03
    listed $189,000 Coming Soon 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: $3,721 · $310/mo
• Projected year-2 tax: $3,721 · $310/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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,574
• − Mortgage interest: −$10,587
• − Property taxes: −$3,721
• − Insurance: −$945
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$5,498
• Taxable loss: −$3,469
• Est. tax savings @ 24.0%: +$832
• After-tax cash flow: $527/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: Waynesboro Area SD
• NCES district ID: 4225110
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 52% ▼ -15.00%
• Median HH income: $50,445
• Composite: 37.79/100
• National rank: #4342
• State rank: #283 of 539 in PA

Livability — Waynesboro

• Score: 78/100
• State rank: #280
• US rank: #2482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynesboro, PA
• County: Franklin County · 56,916 people
• City population: 29,362
• Metro: Chambersburg-Waynesboro, PA
• Population (ZIP): 29,362
• Household income: $73,161
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 539.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -113.20%
• Current HPI: 189.6931
• Rent YoY: —
• Metro: Chambersburg-Waynesboro, 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

• 2026-06-02 Coming Soon $189,000 BRIGHT MLS

Property tax history

+10.1%/yr

Latest (2026): $3,721 · +0.0% YoY. Source: county tax records.