20 Pine Dr · Manchester, PA 17345

$184,900

2 bd · 2.0 ba · 1,140 sqft · Townhouse public records · 8 Days on market

Built 1989 Est $177k · at est. $190/mo HOA · 13% of rent

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Why this score? — see what drove the F 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 +6.7/30.0
• ARV discount +5.4/15.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't touch a thing! Move in condition, no yard work, no exterior maintenance. Large eat-in kitchen to deck for cook outs & entertaining. A great style of living for the person on the move in today's fast paced society. Freshly painted, new carpets. Close to everything!!!

Key facts

• $190 HOA
• Built 1989
• Listed 8 days

Property features AI

Finance

• HOA & community: Monthly HOA fee of $125; HOA covers exterior building maintenance, lawn maintenance, and snow removal

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric-powered systems; Natural gas for heat
• Home design: Condominium; Interior townhouse/rowhouse; Estimated effective year: 2026
• Construction: Stick-built with vinyl siding and brick; Shingle (asphalt) roof; Permanent foundation; Full basement with poured concrete and outside entrance
• Exterior features: Deck(s); Cleared lot; Corner lot; Not in a federal flood zone; Accessible switches/outlets

Interior

• Kitchen: Dishwasher; Refrigerator; Single oven; Microwave
• Bedrooms: Three bedrooms on the upper level
• Flooring: Vinyl flooring; Carpet
• Bathrooms: One full bathroom; One half bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Electric hot water
• Interior features: Eat-in kitchen; Dining area
• Laundry & utility: Laundry hookups on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $-294 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (28.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (21.3% below list).
• Recommended offer: $133k (28.1% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 1.8% in Manchester — 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 (#288 in PA, #2,532 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Northeastern York SD (suburban): math 45% / reading 63% proficiency, ranked #119 of 539 in PA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Orendorf El Sch (math 52% / reading 72%, grade B, #313 of 1,518 statewide, top 24%, 355 students, 53% FRL); Northeastern Ms (math 35% / reading 60%, grade C-, #156 of 512 statewide, top 32%, 653 students, 44% FRL); Northeastern Shs (math 73% / reading 50%, grade B-, #74 of 437 statewide, top 17%, 1,175 students, 41% FRL).
• Market conditions: 39 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,328 units permitted in York County in 2024 (338 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y ago; this cycle's ask is 85% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $100k; list at $185k implies a 85% gain — meaningful room to come down on a strong offer.

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 $132,901 (28.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.79% ✗
• Cap rate: 4.38%
• Cash-on-cash: -6.82%
• DSCR: 0.70
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $176,700
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Pine Dr #13	0.01mi	3/1.5 (+1)	1,140 (0%)	10mo	$170,000	$149	84
16 Pine Dr	0.01mi	3/1.5 (+1)	1,140 (0%)	19mo	$174,857	$153	77
130 Poplar St	0.26mi	3/2.0 (+1)	1,210 (+6%)	21mo	$210,500	$174	55
30 Sedum Ct	0.53mi	3/2.0 (+1)	1,240 (+9%)	7mo	$180,000	$145	50
240 Boxwood Rd	0.33mi	3/1.5 (+1)	1,198 (+5%)	23mo	$220,000	$184	50
21 Harding St	0.65mi	3/1.0 (+1)	1,146 (+0%)	23mo	$178,500	$156	41
525 Glen Dr Unit I525	0.66mi	3/1.5 (+1)	1,258 (+10%)	21mo	$195,000	$155	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.06×
• Total profit: $-48,585
• Equity at exit: $27,569

10-year hold

• IRR: -26.5%
• Equity multiple: -0.27×
• Total profit: $-65,945
• Equity at exit: $15,987

Cash invested: $51,772 (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 17345

• Home prices YoY: -16.8%
• Active inventory: 39
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,455 high
• Mortgage (P&I): −$970
• Tax from tax record: −$207 /mo · $2,483/yr
• Insurance: −$77
• HOA: −$190
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-294

Break-even live

Break-even rent $1,827

Max offer price $132,901

Occupancy floor —

Sensitivity live

Price	-10% $-190	-5% $-242	+0% $-294	+5% $-347	+10% $-399
Rent	-10% $-409	-5% $-352	+0% $-294	+5% $-237	+10% $-179
Rate	-1.0pp $-201	-0.5pp $-247	base $-294	+0.5pp $-342	+1.0pp $-391

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Loucks St Unit 2 Manchester, PA	2.0	1.0	750	$1,450	$1.93	15d	1	0.38mi
75 N Liverpool St Manchester, PA	2.0	1.0	740	$1,070	$1.45	23d	1	0.70mi
55 N Liverpool St Manchester, PA	2.0	1.0	740	$1,040	$1.41	23d	1	0.73mi
102 S Third St Manchester, PA	3.0	1.5	1280	$1,625	$1.27	15d	1	1.04mi
4000 Emerson Dr Mount Wolf, PA	1.0–3.0	1.0–2.5	1196	$1,810	$1.51	15d	18	1.04mi
70 Pavillion Dr Manchester, PA	1.0–2.0	1.0	797	$1,312	$1.65	15d	4	1.11mi
24 Malvern Dr Manchester, PA	3.0	2.0	1118	$1,895	$1.69	15d	1	1.22mi

HOA detail

• Monthly dues: $190 · $2,280/yr
• Likely covers: exterior maint.

Listing history 12 events

1. 2026-06-13
   status $184,900 Pending 8 DOM
2. 2026-06-10
   days on market $184,900 Active 8 DOM
3. 2026-06-09
   days on market $184,900 Active 7 DOM
4. 2026-06-08
   days on market $184,900 Active 6 DOM
5. 2026-06-07
   days on market $184,900 Active 5 DOM
6. 2026-06-05
   days on market $184,900 Active 2 DOM
7. 2026-06-03
   statusdays on market $184,900 Active 1 DOM
8. 2026-06-02
   days on market $184,900 Coming Soon 4 DOM
9. 2026-06-01
   days on market $184,900 Coming Soon 3 DOM
10. 2026-05-31
    days on market $184,900 Coming Soon 2 DOM
11. 2026-05-30
    remarks 687-char remark
12. 2026-05-30
    listed $184,900 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: $2,483 · $207/mo
• Projected year-2 tax: $2,702 · $225/mo
• Expected delta: +$219/yr (+$18/mo · 8.8%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,457
• − Mortgage interest: −$10,357
• − Property taxes: −$2,483
• − Insurance: −$924
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − HOA: −$2,280
• − Depreciation: −$5,379
• Taxable loss: −$6,760
• Est. tax savings @ 24.0%: +$1,622
• After-tax cash flow: $-1,910/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: Northeastern York SD
• NCES district ID: 4217520
• Math proficiency: 45% ▼ -12.00%
• Reading proficiency: 63% ▼ -10.00%
• Median HH income: $60,807
• Composite: 47.06/100
• National rank: #2338
• State rank: #119 of 539 in PA

Livability — Manchester

• Score: 78/100
• State rank: #288
• US rank: #2532

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,106

Population outlook (York County) Hauer SSP2

• Today (2025): 454,205 people
• By 2030: 457,407 · +0.7%
• By 2040: 457,529 · +0.7%
• By 2050: 448,261 · -1.3%
• By 2075: 427,388 · -5.9%
• By 2100: 384,218 · -15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Black 4% Two or more races 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 4% Dominican 5%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · York

• 2024 margin: Strong R (+25.3) · D 36.9% · R 62.1%
• 2008→2024 swing: -11.7pp toward R · 2008: -13.6pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+24.6 2016: R+29.3 2012: R+21.2 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.05%
• Current HPI: 258.0184
• Rent YoY: —
• Metro: —
• 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

+131.4% since first listed

13 events — show timeline

• 2026-05-29 Coming Soon $184,900 BRIGHT MLS
• 2007-06-06 Sold (Public Records) $99,900 Public Records
• 2007-06-01 Listing Removed — BRIGHT MLS
• 2007-05-30 Sold (MLS) $99,900 BRIGHT MLS
• 2007-04-14 Listed $99,900 BRIGHT MLS
• 2005-11-14 Sold (Public Records) $75,900 Public Records
• 2005-11-11 Sold (MLS) $75,900 BRIGHT MLS
• 2005-10-05 Listing Removed — BRIGHT MLS
• 2005-07-26 Listed $74,900 BRIGHT MLS
• 2000-02-02 Sold (Public Records) $79,900 Public Records
• 2000-01-02 Sold (MLS) $79,900 BRIGHT MLS
• 1999-12-16 Listing Removed — BRIGHT MLS
• 1999-12-02 Listed $79,900 BRIGHT MLS

Property tax history

+1.4%/yr

Latest (2025): $2,483 · +1.6% YoY. Source: county tax records.