217-219 E Washington St · Chambersburg, PA 17201

$150,000

6 bd · 2.0 ba · 3,000 sqft · MultiFamily · 18 Days on market

Built 1900 3,049 sqft lot Est $225k · 33% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Property has 2 gas hot water heaters, 2 gas hot air furnaces, some new wiring, storm windows, Fenced Yard. Tenants own all appliances and curtains and pay all utilities. Great investment property in very good condition. 217 Side $360/mo; 219 side $400/mo; tenants pay all utilities.

Key facts

• 3,049 sq ft lot
• Built 1900
• Listed 18 days

Property features AI

Finance

• Financial info: Month-to-month existing lease; Lease offers not being considered

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Hot water: other
• Home design: Detached structure; Fee simple ownership; Estimated year built
• Construction: Brick construction; Other foundation; Above-grade other structures
• Exterior features: No tidal water

Interior

• Bedrooms: Two 3-bedroom units
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Estimated living area

🏷️ Possibly a rental listed for sale. The $150,000 price doesn't fit this home's estimated sale value (~$225,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $795/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 3.9% in Chambersburg — 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 74/100 on livability (#530 in PA, #4,894 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime D, employment D.
• Chambersburg Area SD (other): math 26% / reading 48% proficiency, ranked #383 of 539 in PA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 633 units permitted in Franklin County in 2024 (112 in 5+ unit buildings).
• At $3,325/mo this rent would consume 65% of the median local household income ($61k/yr) (locally 1306% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y 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 $128k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $147,750 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.22% ✓
• Cap rate: 19.01%
• Cash-on-cash: 45.43%
• DSCR: 3.02
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $225,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 E Washington St	0.03mi	5/— (-1)	2,662 (-11%)	1mo	$199,900	$75	74
66 W Queen St	0.25mi	6/—	3,228 (+8%)	3mo	$245,000	$76	74
45 W Commerce St	0.69mi	5/2.0 (-1)	2,682 (-11%)	12mo	$189,900	$71	35

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 · 4.37% rent growth · sell at horizon

5-year hold

• IRR: 44.1%
• Equity multiple: 2.94×
• Total profit: $81,666
• Equity at exit: $22,365

10-year hold

• IRR: 50.7%
• Equity multiple: 6.27×
• Total profit: $221,330
• Equity at exit: $12,969

Cash invested: $42,000 (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 17201

• Home prices YoY: -20.3%
• Rents YoY: 4.4%
• Active inventory: 162
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,325 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $1,590

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,326
Total (2 units)			$3,325

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 W Commerce St Chambersburg, PA	5.0	2.0	2500	$2,000	$0.80	44d	1	0.70mi

Listing history 7 events

1. 2026-05-18
   status Pending
2. 2026-05-16
   price $150,000
3. 2026-05-01
   listed $170,000 Active
4. 2026-04-30
   historical $170,000
5. 2006-02-28
   soldstatus $128,000 282-char remark

   Show marketing remark (282 chars)

   Property has 2 gas hot water heaters, 2 gas hot air furnaces, some new wiring, storm windows, Fenced Yard. Tenants own all appliances and curtains and pay all utilities. Great investment property in very good condition. 217 Side $360/mo; 219 side $400/mo; tenants pay all utilities.

6. 2005-12-30
   historical 282-char remark

   Show marketing remark (282 chars)

   Property has 2 gas hot water heaters, 2 gas hot air furnaces, some new wiring, storm windows, Fenced Yard. Tenants own all appliances and curtains and pay all utilities. Great investment property in very good condition. 217 Side $360/mo; 219 side $400/mo; tenants pay all utilities.

7. 2005-06-16
   listed $134,900 282-char remark

   Show marketing remark (282 chars)

   Property has 2 gas hot water heaters, 2 gas hot air furnaces, some new wiring, storm windows, Fenced Yard. Tenants own all appliances and curtains and pay all utilities. Great investment property in very good condition. 217 Side $360/mo; 219 side $400/mo; tenants pay all utilities.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,900
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$3,192
• − Management: −$3,192
• − Depreciation: −$4,364
• Taxable income: $17,750
• Est. tax owed @ 24.0%: −$4,260
• After-tax cash flow: $14,822/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: Chambersburg Area SD
• NCES district ID: 4205550
• Math proficiency: 26% ▼ -17.00%
• Reading proficiency: 48% ▼ -16.00%
• Median HH income: $52,666
• Composite: 32.17/100
• National rank: #5787
• State rank: #383 of 539 in PA

Livability — Chambersburg

• Score: 74/100
• State rank: #530
• US rank: #4894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chambersburg, PA
• County: Franklin County · 56,916 people
• City population: 27,554
• Metro: Chambersburg-Waynesboro, PA
• Population (ZIP): 27,554
• Household income: $61,234
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1306.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 18% Black 8% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2% Dominican 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 85% English-only · Spanish 13% French/Haitian/Cajun 1%

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: ▼ -63.07%
• Current HPI: 247.913
• Rent YoY: ▲ 4.37%
• 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

+11.2% since first listed

7 events — show timeline

• 2026-05-18 Pending — BRIGHT MLS
• 2026-05-16 Price Changed $150,000 BRIGHT MLS
• 2026-05-01 Listed $170,000 BRIGHT MLS
• 2026-04-30 Coming Soon $170,000 BRIGHT MLS
• 2006-02-28 Sold (MLS) $128,000 MRIS
• 2005-12-30 Delisted — MRIS
• 2005-06-16 Listed $134,900 MRIS