349 W Ridge St · Carlisle, PA 17013

$149,900

3 bd · 1.5 ba · 1,200 sqft · Townhouse public records · 6 Days on market

Built 1971 6,098 sqft lot Est $206k · 27% 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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tenant occupied till fall. Showings will be done in groups. Please call Listing Agent with questions. This property is being sold from an estate. Attorney has no knowledge of any disclosure info. Great Location! No HOA. Fenced in back yard with a HUGE shed for plenty of storage. Showings available only during open house.

Key facts

• 2 parking spots
• Built 1971
• Listed 6 days

Property features AI

Exterior

• Parking: Two total garage and parking spaces; Driveway with space for two on a concrete driveway
• Utilities: Public water; Public sewer
• Home design: Semi-detached; Two stories; Fee simple ownership; Not in a federal flood zone; Suburban location in Carlisle Borough
• Construction: Brick, stick-built, and vinyl siding construction; Shingle roof; Permanent foundation; Above-grade and below-grade structures
• Exterior features: Outbuilding(s); Sidewalks; Fully fenced

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom; One half bathroom on the main level
• Heating & cooling: Electric baseboard heating; Electric hot water
• Interior features: Not furnished; No basement
• Laundry & utility: Main-floor laundry with washer in unit

🏷️ Possibly a rental listed for sale. The $149,900 price doesn't fit this home's estimated sale value (~$206,400) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.7% vs local median 3.7% in Carlisle — 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 (#297 in PA, #2,632 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, commute F.
• Carlisle Area SD (urban): math 33% / reading 55% proficiency, ranked #277 of 539 in PA (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carlisle Area Hs (math 70% / reading 75%, grade B+, #37 of 437 statewide, top 8%, 1,578 students, 39% FRL).
• Zoned-school proficiency averages 72% at this address vs 44% district-wide (+28 pts) — the actual schools serving this property are materially stronger than the Carlisle Area SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.5%/yr); 308 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,052 units permitted in Cumberland County in 2024 (310 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.
• Cumberland County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $149,900

Questions for the listing agent

1. Built in 1971 — 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 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.69%
• DSCR: 1.39
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $206,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
347 W Ridge St	0.01mi	3/1.5	1,360 (+13%)	7mo	$161,000	$118	71
321 Arch St	0.57mi	3/1.5	1,180 (-2%)	7mo	$182,000	$154	65
257 W Willow St	0.47mi	3/1.5	1,122 (-6%)	4mo	$195,000	$174	64
54 W Ridge St	0.44mi	2/1.5 (-1)	1,280 (+7%)	9mo	$175,000	$137	56
48 Strawberry Dr	0.48mi	2/2.0 (-1)	1,080 (-10%)	4mo	$220,000	$204	50
38 W Willow St	0.54mi	3/1.5	1,360 (+13%)	3mo	$240,000	$176	50
60 W Willow St	0.53mi	3/1.5	1,360 (+13%)	7mo	$227,000	$167	47
6 Spring View St	0.59mi	2/2.5 (-1)	1,281 (+7%)	6mo	$239,000	$187	47
40 Strayer Dr	0.75mi	2/2.0 (-1)	1,161 (-3%)	9mo	$225,000	$194	45
31 Carter Pl	0.62mi	2/2.5 (-1)	1,344 (+12%)	3mo	$200,000	$149	39
9 Garland Ct	0.56mi	2/2.5 (-1)	1,340 (+12%)	7mo	$230,000	$172	39
11 Bentley Pl	0.55mi	2/2.5 (-1)	1,344 (+12%)	11mo	$216,000	$161	36

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 · 2.54% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-5,682
• Equity at exit: $22,351

10-year hold

• IRR: 5.6%
• Equity multiple: 1.40×
• Total profit: $16,918
• Equity at exit: $12,961

Cash invested: $41,972 (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 17013

• Rents YoY: 2.5%
• Active inventory: 308
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$786
• Tax from tax record: −$217 /mo · $2,600/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $304

Break-even live

Break-even rent $1,348

Max offer price $149,900

Occupancy floor 77%

Sensitivity live

Price	-10% $389	-5% $346	+0% $304	+5% $262	+10% $219
Rent	-10% $167	-5% $236	+0% $304	+5% $372	+10% $441
Rate	-1.0pp $380	-0.5pp $342	base $304	+0.5pp $265	+1.0pp $226

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Spring View St Carlisle, PA	2.0	2.5	1281	$1,700	$1.33	14d	1	0.61mi
49 Eastwick Ln Carlisle, PA	2.0	2.0	1010	$1,400	$1.39	24d	1	0.87mi
34 S Hanover St Apt 3, Carlisle, PA 17013 Carlisle, PA	2.0	1.0	1100	$1,650	$1.50	24d	1	0.89mi
54 W High St Carlisle, PA	2.0	1.0	1100	$2,180	$1.98	24d	1	0.93mi
50 W High St Unit 203 Carlisle, PA	2.0	1.5	1100	$2,180	$1.98	24d	1	0.94mi
131 Nava CT Carlisle, PA	2.0–3.0	2.0	1345	$1,650	$1.23	14d	1	1.00mi
1 Rush Dr Carlisle, PA	2.0	2.0	1033	$1,650	$1.60	14d	3	1.16mi
224 Mulberry Ave Carlisle, PA	3.0	1.0	816	$1,350	$1.65	44d	1	1.17mi
79 Dawn Ridge Loop Carlisle, PA	2.0–3.0	1.0–1.5	1179	$1,474	$1.25	14d	4	1.18mi
230 N Pitt St Carlisle, PA	3.0	1.5	1408	$1,300	$0.92	44d	1	1.20mi
217 N Hanover St Unit 3 Carlisle, PA	2.0	1.5	970	$1,450	$1.49	44d	1	1.21mi
219 N Hanover St Unit 3 Carlisle, PA	2.0	1.0	1400	$1,850	$1.32	24d	1	1.22mi
50 Sprint Dr Unit 10-0404 Carlisle, PA	2.0	2.0	1117	$1,650	$1.48	14d	1	1.34mi
457 N Pitt St Carlisle, PA	3.0	1.0	1320	$1,345	$1.02	24d	1	1.36mi
423 N Hanover St Apt 1 Carlisle, PA	2.0	1.0	950	$1,250	$1.32	24d	1	1.38mi
517 N Pitt St Carlisle, PA	2.0	1.0	1290	$1,550	$1.20	24d	1	1.41mi
270 B St Carlisle, PA	2.0–3.0	1.0	1028	$1,484	$1.44	14d	3	1.42mi
525 3rd St Carlisle, PA	2.0	1.0	950	$1,497	$1.58	24d	1	1.42mi
1201 Walnut Bottom Rd Unit 13-0405 Carlisle, PA	2.0	2.0	1028	$1,750	$1.70	44d	1	1.46mi
1201 Walnut Bottom Rd Unit 14-1301 Carlisle, PA	2.0	2.0	1128	$1,650	$1.46	44d	1	1.46mi
1201 Walnut Bottom Rd Unit 10-0101 Carlisle, PA	2.0	2.0	1234	$1,870	$1.52	44d	1	1.46mi
1201 Walnut Bottom Rd Unit 09-0205 Carlisle, PA	2.0	2.0	1028	$1,751	$1.70	44d	1	1.46mi
1201 Walnut Bottom Rd Unit 09-0302 Carlisle, PA	2.0	2.0	1234	$1,926	$1.56	44d	1	1.46mi
1201 Walnut Bottom Rd Unit 14-1102 Carlisle, PA	3.0	2.0	1400	$1,875	$1.34	44d	1	1.46mi
646 N College St Carlisle, PA	3.0	2.5	1500	$1,795	$1.20	14d	1	1.48mi
238 C St Carlisle, PA	3.0	1.0	1452	$1,452	$1.00	14d	2	1.49mi

Listing history 11 events

1. 2026-06-09
   statusdays on market $149,900 Pending 6 DOM
2. 2026-06-03
   days on market $149,900 Active 5 DOM
3. 2026-06-02
   days on market $149,900 Active 4 DOM
4. 2026-06-01
   days on market $149,900 Active 3 DOM
5. 2026-05-31
   days on market $149,900 Active 2 DOM
6. 2026-05-31
   statusdays on market $149,900 Active 1 DOM
7. 2026-05-27
   historical $149,900
8. 2025-08-24
   historical $1,700
9. 2025-08-15
   listed $1,700
10. 2021-12-06
    soldstatus $110,000
11. 1985-02-19
    soldstatus $41,000

ⓘ 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: $2,600 · $217/mo
• Projected year-2 tax: $2,600 · $217/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 ≥101°F today · 15 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,799
• − Mortgage interest: −$8,397
• − Property taxes: −$2,600
• − Insurance: −$750
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$4,361
• Taxable income: $1,364
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $3,321/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: Carlisle Area SD
• NCES district ID: 4205010
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $55,334
• Composite: 38.23/100
• National rank: #4247
• State rank: #277 of 539 in PA

Livability — Carlisle

• Score: 78/100
• State rank: #297
• US rank: #2632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carlisle, PA
• County: Cumberland County · 257,673 people
• City population: 62,898
• Metro: Harrisburg-Carlisle, PA
• Population (ZIP): 38,513
• Household income: $71,042
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1444.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 267,950 people
• By 2030: 278,105 · +3.8%
• By 2040: 296,552 · +10.7%
• By 2050: 312,937 · +16.8%
• By 2075: 349,233 · +30.3%
• By 2100: 361,875 · +35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 8% Hispanic / Latino 7% Two or more races 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Iranian 3% Romanian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 3% Russian/Polish/Slavic 1% Arabic 1%

Political lean MEDSL · Cumberland

• 2024 margin: Lean R (+9.4) · D 44.6% · R 54.1% · Other 1.3%
• 2008→2024 swing: +4.2pp toward D · 2008: -13.6pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+10.6 2016: R+18.6 2012: R+18.5 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.48%
• Current HPI: 247.337
• Rent YoY: ▲ 2.54%
• Metro: Harrisburg-Carlisle, 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

+265.6% since first listed

5 events — show timeline

• 2026-05-27 Coming Soon $149,900 BRIGHT MLS
• 2025-08-24 Rental Removed $1,700 BRIGHTMLS
• 2025-08-15 Listed for Rent $1,700 BRIGHTMLS
• 2021-12-06 Sold (Public Records) $110,000 Public Records
• 1985-02-19 Sold (Public Records) $41,000 Public Records

Property tax history

+2.4%/yr

Latest (2026): $2,600 · +2.1% YoY. Source: county tax records.