633 S Queen St · Lancaster, PA 17603

$169,900

4 bd · 1.0 ba · 1,534 sqft · Townhouse public records · 14 Days on market

Built 1910 3,049 sqft lot Est $227k · 25% under

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.3/10.0
• 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

A solid three-bedroom, one-bath brick rowhome on Lancaster City's south side, with the major mechanicals already taken care of. Brand new gas furnace and water heater were both replaced in December 2024 — one less thing to worry about heading into ownership. The home spans three floors with approximately 1,400 square feet. The eat-in kitchen features exposed ceiling beams and flows into a comfortable living area. The spacious full bath includes a double vanity, a nice feature for a rental property. The unfinished basement offers laundry hookups and a front walkout entrance for added convenience. In the rear, you'll find a fully fenced in yard and 2 off-street parking spaces. Current t

Key facts

• 2 parking spots
• Built 1910
• Listed 14 days

Property features AI

Exterior

• Parking: Off-street parking with two spaces (total of two garage/parking spaces)
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick and masonry construction; Stone foundation; Assessor-recorded year built
• Exterior features: Chain link fencing; Not in a federal flood zone; Above-grade and below-grade structures

Interior

• Bedrooms: Two bedrooms on the first upper level; One bedroom on the second upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating fuel; Electric hot water
• Interior features: Estimated living area; Daylight, partial basement with outside entrance, interior access and walkout level; At least two access exits
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 8.9% vs local median 4.2% 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; 292 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $5k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $82k; list at $170k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $169,900

Questions for the listing agent

1. Built in 1910 — 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. 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.
4. 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.
5. 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: 8.90%
• Cash-on-cash: 9.33%
• DSCR: 1.41
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $227,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524 Locust St	0.40mi	4/1.0	1,444 (-6%)	1mo	$213,000	$148	71
39 W Farnum St	0.55mi	4/1.0	1,564 (+2%)	0mo	$135,000	$86	70
345-1/2 Beaver St	0.35mi	4/1.0	1,382 (-10%)	2mo	$196,200	$142	66
428 S Prince St	0.29mi	3/2.0 (-1)	1,420 (-7%)	2mo	$253,000	$178	63
529 Poplar St	0.61mi	4/2.5	1,560 (+2%)	1mo	$283,000	$181	62
542 High St	0.72mi	4/1.5	1,554 (+1%)	2mo	$182,000	$117	61
631 Rockland St	0.54mi	4/1.5	1,638 (+7%)	1mo	$293,000	$179	60
314 S Ann St	0.71mi	5/1.0 (+1)	1,550 (+1%)	2mo	$184,000	$119	59
614 Saint Joseph St	0.64mi	4/1.5	1,632 (+6%)	0mo	$184,000	$113	57
335 S Ann St	0.71mi	4/2.5	1,603 (+4%)	2mo	$245,000	$153	52
517 Saint Joseph St	0.65mi	5/1.5 (+1)	1,698 (+11%)	1mo	$215,000	$127	44
235 Howard Ave	0.61mi	3/2.0 (-1)	1,327 (-14%)	1mo	$259,900	$196	39

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: -5.1%
• Equity multiple: 0.82×
• Total profit: $-8,745
• Equity at exit: $25,333

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $4,138
• Equity at exit: $14,690

Cash invested: $47,572 (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: 292
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,923 high
• Mortgage (P&I): −$891
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $370

Break-even live

Break-even rent $1,455

Max offer price $169,900

Occupancy floor 76%

Sensitivity live

Price	-10% $466	-5% $418	+0% $370	+5% $322	+10% $274
Rent	-10% $218	-5% $294	+0% $370	+5% $446	+10% $522
Rate	-1.0pp $455	-0.5pp $413	base $370	+0.5pp $326	+1.0pp $281

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
537 Woodward St Lancaster, PA	3.0	2.0	1288	$1,650	$1.28	24d	1	0.31mi
345 1/2 Beaver St Lancaster, PA	4.0	1.0	1382	$2,095	$1.52	44d	1	0.35mi
549 Howard Ave Lancaster, PA	4.0	1.0	1439	$1,700	$1.18	44d	1	0.39mi
49 W Farnum St Lancaster, PA	3.0	1.0	1820	$1,650	$0.91	44d	1	0.56mi
513 Poplar St Lancaster, PA	3.0	1.5	1184	$1,695	$1.43	44d	1	0.60mi
708 S Lime St Unit 3 Lancaster, PA	4.0	1.0	1742	$1,850	$1.06	44d	1	0.61mi
214 W Strawberry St Lancaster, PA	3.0	1.0	1175	$1,345	$1.14	22d	1	0.64mi
609 Saint Joseph St Lancaster, PA	4.0	2.0	1523	$1,695	$1.11	44d	1	0.64mi
529 Manor St Lancaster, PA	3.0	1.0	1434	$1,635	$1.14	14d	1	0.82mi
40 Fairview Ave Lancaster, PA	3.0	1.0	1152	$1,700	$1.48	14d	1	0.83mi
741 Manor St Lancaster, PA	3.0	1.0	1200	$1,695	$1.41	44d	1	0.86mi
204 Elmshire Dr Lancaster, PA	3.0	2.5	1364	$1,595	$1.17	45d	1	0.88mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$4,703	$3.69	14d	48	0.92mi
270 Kentshire Dr Lancaster, PA	3.0	2.5	1512	$2,000	$1.32	45d	1	0.98mi
1330 Wabank Rd Lancaster, PA	1.0–3.0	1.0–2.5	1423	$2,062	$1.45	14d	21	0.98mi
14 Coral St Lancaster, PA	3.0	1.5	1355	$1,525	$1.13	44d	1	1.04mi
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	14d	1	1.11mi
611 S West End Ave Lancaster, PA	4.0	1.5	1589	$1,800	$1.13	14d	1	1.11mi
403 N Queen St Lancaster, PA	3.0	2.0	1950	$3,500	$1.79	14d	1	1.22mi
135 Grandview Ave Lancaster, PA	3.0	2.0	1395	$3,295	$2.36	14d	1	1.24mi
337 W Lemon St Unit 2 Lancaster, PA	3.0	1.0	1588	$1,895	$1.19	14d	1	1.26mi
101 Roselawn Ave Lancaster, PA	3.0	2.0	1166	$1,785	$1.53	14d	1	1.36mi
738 E Madison St Lancaster, PA	3.0	1.0	1102	$1,750	$1.59	44d	1	1.41mi
1121 Spring Grove Ave Lancaster, PA	4.0	2.0	1755	$2,200	$1.25	44d	1	1.48mi
520 W Frederick St Lancaster, PA	4.0	1.0	1713	$1,895	$1.11	44d	1	1.49mi

Listing history 11 events

1. 2026-06-18
   days on market $169,900 Active 14 DOM
2. 2026-06-17
   days on market $169,900 Active 13 DOM
3. 2026-06-16
   days on market $169,900 Active 12 DOM
4. 2026-06-15
   days on market $169,900 Active 11 DOM
5. 2026-06-14
   days on market $169,900 Active 9 DOM
6. 2026-06-13
   days on market $169,900 Active 8 DOM
7. 2026-06-10
   days on market $169,900 Active 6 DOM
8. 2026-06-09
   days on market $169,900 Active 5 DOM
9. 2026-06-08
   days on market $169,900 Active 4 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    listed $169,900 Active 3 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: $2,252 · $188/mo
• Projected year-2 tax: $2,468 · $206/mo
• Expected delta: +$216/yr (+$18/mo · 9.6%)

ⓘ 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 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $23,075
• − Mortgage interest: −$9,517
• − Property taxes: −$2,252
• − Insurance: −$850
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$4,943
• Taxable income: $1,822
• Est. tax owed @ 24.0%: −$437
• After-tax cash flow: $3,999/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

+107.6% since first listed

3 events — show timeline

• 2026-06-05 Listed $169,900 BRIGHT MLS
• 2026-06-03 Coming Soon $169,900 BRIGHT MLS
• 2024-01-08 Sold (Public Records) $81,850 Public Records

Property tax history

-0.6%/yr

Latest (2026): $2,252 · +3.3% YoY. Source: county tax records.