400 E Maple St · Palmyra, PA 17078

$525,000

28 bd · 16.0 ba · 3,886 sqft · MultiFamily · 19 Days on market

Built 1950 0.51 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Here is your chance to own an incredible income producing multi-unit in the heart of the highly sought after, Palmyra! Don't miss this opportunity to start or add on to your portfolio. 3 great looking residential units and 1 updated commercial space, currently usable as a salon. Units A & C have been updated recently as well, with fresh floors, paint, and to add to that brand new roof! This one is ready to make you money!

Key facts

• 0.51 acre lot
• 4 parking spots
• Built 1950

Property features AI

Finance

• Financial info: Four rental units total, all currently leased; All units are month-to-month; Total actual rent reported

Exterior

• Parking: Four off-street parking spaces; On-street parking available (in addition to off-street)
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; 2 total levels; Fee simple ownership
• Construction: Brick construction; Block foundation; Architectural shingle and rubber roofing; Estimated year built
• Exterior features: Detached structure; Above-grade and below-grade structures noted

Interior

• Bedrooms: One single-room unit; Two 2-bedroom units; One 3-bedroom unit
• Heating & cooling: Baseboard heating (electric); Baseboard heating (hot water); Window AC units (electric)
• Interior features: Fully finished basement; Sidewalks on the property

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $690/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $525k).
• Recommended offer: $517k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 1.8% in Palmyra — 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 79/100 on livability (#246 in PA, #2,112 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Palmyra Area SD (suburban): math 52% / reading 70% proficiency, ranked #63 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 110 active listings in the ZIP; solid renter incomes; 315 units permitted in Lebanon County in 2024 (36 in 5+ unit buildings).
• At $8,087/mo this rent would consume 104% of the median local household income ($93k/yr) (locally 503% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Lebanon County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $147k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask is 22% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $430k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $517,125 (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 1950 — 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. Schools are A-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?
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: 1.54% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.54%
• DSCR: 2.00
• GRM: 5.4

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: 15.4%
• Equity multiple: 1.62×
• Total profit: $90,872
• Equity at exit: $78,279

10-year hold

• IRR: 24.1%
• Equity multiple: 3.08×
• Total profit: $306,025
• Equity at exit: $45,392

Cash invested: $147,000 (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 17078

• Home prices YoY: -25.1%
• Active inventory: 110
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $8,087 medium
• Mortgage (P&I): −$2,753
• Tax est. 1.5%: −$656 /mo · $7,875/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,698
• Net cashflow: $2,761

Break-even live

Break-even rent $4,593

Max offer price $525,000

Occupancy floor 61%

Sensitivity live

Price	-10% $3,123	-5% $2,942	+0% $2,761	+5% $2,579	+10% $2,398
Rent	-10% $2,122	-5% $2,441	+0% $2,761	+5% $3,080	+10% $3,399
Rate	-1.0pp $3,025	-0.5pp $2,894	base $2,761	+0.5pp $2,625	+1.0pp $2,486

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$8,088
Total (4 units)			$8,087

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $525,000 Active 19 DOM
2. 2026-06-18
   days on market $525,000 Active 18 DOM
3. 2026-06-17
   days on market $525,000 Active 17 DOM
4. 2026-06-16
   days on market $525,000 Active 16 DOM
5. 2026-06-15
   status $525,000 Active 15 DOM
6. 2026-06-10
   status $525,000 Active Under Contract 15 DOM
7. 2026-06-09
   days on market $525,000 Active 15 DOM
8. 2026-06-08
   days on market $525,000 Active 14 DOM
9. 2026-06-07
   days on market $525,000 Active 13 DOM
10. 2026-06-03
    days on market $525,000 Active 9 DOM
11. 2026-06-02
    days on market $525,000 Active 8 DOM
12. 2026-06-01
    days on market $525,000 Active 7 DOM
13. 2026-05-31
    days on market $525,000 Active 6 DOM
14. 2026-05-30
    days on market $525,000 Active 5 DOM
15. 2026-05-23
    historical $525,000
16. 2022-09-23
    soldstatus $429,900 Closed 432-char remark

    Show marketing remark (432 chars)

    Here is your chance to own an incredible income producing multi-unit in the heart of the highly sought after, Palmyra! Don't miss this opportunity to start or add on to your portfolio. 3 great looking residential units and 1 updated commercial space, currently usable as a salon. Units A & C have been updated recently as well, with fresh floors, paint, and to add to that brand new roof! This one is ready to make you money!

17. 2022-08-06
    status Pending 432-char remark

    Show marketing remark (432 chars)

    Here is your chance to own an incredible income producing multi-unit in the heart of the highly sought after, Palmyra! Don't miss this opportunity to start or add on to your portfolio. 3 great looking residential units and 1 updated commercial space, currently usable as a salon. Units A & C have been updated recently as well, with fresh floors, paint, and to add to that brand new roof! This one is ready to make you money!

18. 2022-07-12
    listed $429,900 Active 432-char remark

    Show marketing remark (432 chars)

    Here is your chance to own an incredible income producing multi-unit in the heart of the highly sought after, Palmyra! Don't miss this opportunity to start or add on to your portfolio. 3 great looking residential units and 1 updated commercial space, currently usable as a salon. Units A & C have been updated recently as well, with fresh floors, paint, and to add to that brand new roof! This one is ready to make you money!

19. 2008-08-14
    historical
20. 2008-03-04
    listed $229,000

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

Taxation est. · year 1

• Rental income: $97,044
• − Mortgage interest: −$29,408
• − Property taxes: −$7,875
• − Insurance: −$2,625
• − Repairs & maintenance: −$7,764
• − Management: −$7,764
• − Depreciation: −$15,273
• Taxable income: $26,336
• Est. tax owed @ 24.0%: −$6,321
• After-tax cash flow: $26,806/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: Palmyra Area SD
• NCES district ID: 4218390
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $60,526
• Composite: 52.84/100
• National rank: #1537
• State rank: #63 of 539 in PA

Livability — Palmyra

• Score: 79/100
• State rank: #246
• US rank: #2112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmyra, PA
• County: Lebanon County · 95,836 people
• City population: 23,840
• Metro: Lebanon, PA
• Population (ZIP): 23,840
• Household income: $93,135
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 503.0

Population outlook (Lebanon County) Hauer SSP2

• Today (2025): 144,806 people
• By 2030: 147,534 · +1.9%
• By 2040: 152,952 · +5.6%
• By 2050: 159,406 · +10.1%
• By 2075: 181,736 · +25.5%
• By 2100: 198,402 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 4% Asian 3% Black 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 3% Slovak 1% Serbian 1%
• Foreign-born: 4% · India, Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Lebanon

• 2024 margin: Solid R (+32.0) · D 33.6% · R 65.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -18.9pp · 2024: -32.0pp
• All cycles: 2024: R+32.0 2020: R+31.7 2016: R+35.5 2012: R+28.0 2008: R+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.77%
• Current HPI: 255.2294
• Rent YoY: —
• Metro: Lebanon, 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

+129.3% since first listed

6 events — show timeline

• 2026-05-23 Coming Soon $525,000 BRIGHT MLS
• 2022-09-23 Sold (MLS) $429,900 BRIGHT MLS
• 2022-08-06 Pending — BRIGHT MLS
• 2022-07-12 Listed $429,900 BRIGHT MLS
• 2008-08-14 Listing Removed — BRIGHT MLS
• 2008-03-04 Listed $229,000 BRIGHT MLS