1329 Broadway · Hanover, PA 17331

$124,250

3 bd · 1.5 ba · 1,892 sqft · SingleFamily public records · 12 Days on market

Built 1900 10,224 sqft lot $66/sqft · 54% below area

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

Key facts

• 0.23 acre lot
• Built 1900
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $124k.

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 $124k).
• Cap rate 9.9% vs local median 3.9% in Hanover — 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 76/100 on livability (#373 in PA, #3,295 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment D, commute F.
• Hanover Public SD (urban): math 34% / reading 54% proficiency, ranked #294 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 386 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $860 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts; this cycle's ask is 46% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,250

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.44% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.77%
• DSCR: 1.57
• GRM: 5.8

CMA / ARV

• ARV (median comp): $268,812
• List price: $124,250
• Delta: -53.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Test Rd	0.56mi	3/2.5	1,944 (+3%)	1mo	$380,000	$195	64
428 George St	0.57mi	4/2.0 (+1)	1,884 (-0%)	4mo	$315,000	$167	62
1678 Beech Ln	0.61mi	3/2.5	1,816 (-4%)	1mo	$365,000	$201	60
209 Keagy Ave	0.17mi	4/3.0 (+1)	2,033 (+8%)	12mo	$329,000	$162	59
451 Moul Ave	0.37mi	4/3.0 (+1)	1,968 (+4%)	12mo	$349,900	$178	55
405 Clearview Rd	0.65mi	3/1.5	1,732 (-8%)	2mo	$245,000	$141	54
837 Broadway	0.59mi	4/1.5 (+1)	1,828 (-3%)	10mo	$309,900	$170	53
322 Fox Knoll Ct	0.63mi	4/2.5 (+1)	1,973 (+4%)	4mo	$340,000	$172	51
440 Grant Dr	0.66mi	4/2.0 (+1)	2,156 (+14%)	2mo	$326,500	$151	37
725 E Walnut St	0.72mi	3/1.5	1,648 (-13%)	14mo	$331,000	$201	34
1670 Beech Ln	0.56mi	4/3.0 (+1)	2,172 (+15%)	10mo	$385,000	$177	30
355 George St	0.70mi	4/1.5 (+1)	2,174 (+15%)	11mo	$284,900	$131	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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $6,639
• Equity at exit: $18,526

10-year hold

• IRR: 16.0%
• Equity multiple: 2.43×
• Total profit: $49,694
• Equity at exit: $10,743

Cash invested: $34,790 (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 17331

• Home prices YoY: -33.8%
• Rents YoY: 4.7%
• Active inventory: 386
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,790 medium
• Mortgage (P&I): −$652
• Tax from tax record: −$341 /mo · $4,089/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $370

Break-even live

Break-even rent $1,322

Max offer price $124,250

Occupancy floor 74%

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: $31,062
• Closing costs: $3,728
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 McCosh St Hanover, PA	3.0	1.0	1800	$2,050	$1.14	14d	1	1.48mi

Listing history 15 events

1. 2026-05-06
   price $124,250 451-char remark

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

2. 2026-05-05
   status Pending 451-char remark

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

3. 2026-04-23
   price $145,000 451-char remark

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

4. 2026-04-23
   status Active 451-char remark

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

5. 2026-03-02
   listed Active Under Contract 451-char remark

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

6. 2026-03-02
   listed Active Under Contract

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

7. 2026-03-02
   listed $85,000 451-char remark

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

8. 2026-03-02
   historical

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

9. 2026-03-02
   listed $85,000

   Show marketing remark (451 chars)

   This 1848 sq ft home situated on . 23 acres in Hanover Boro. Home has full basement for storage. The first floor covers 924 sq ft and has a living room, a dining area, a kitchen with an island, a laundry room, and a half bath. The 2nd floor also covers 924 sq. ft. and has a master bedroom with a walk-in closet. The bathroom has a jacuzzi tub with a separate shower with jets. The second bedroom is large with a TV that conveys. The home has a attic.

10. 2025-12-31
    soldstatus $85,000 Closed
11. 2025-10-02
    historical Active Under Contract
12. 2025-08-11
    listed $195,900 Active
13. 2025-06-16
    historical
14. 2025-05-06
    listed $140,000 Active
15. 1986-03-01
    soldstatus $57,500

ⓘ 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: $4,089 · $341/mo
• Projected year-2 tax: $4,089 · $341/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 6/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $21,483
• − Mortgage interest: −$6,960
• − Property taxes: −$4,089
• − Insurance: −$621
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$3,615
• Taxable income: $2,760
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $3,779/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: Hanover Public SD
• NCES district ID: 4211450
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $45,022
• Composite: 37.26/100
• National rank: #4457
• State rank: #294 of 539 in PA

Livability — Hanover

• Score: 76/100
• State rank: #373
• US rank: #3295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanover, PA
• County: York County · 278,806 people
• City population: 56,443
• Metro: York-Hanover, PA
• Population (ZIP): 56,443
• Household income: $79,488
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 1076.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 7% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -128.48%
• Current HPI: 251.8974
• Rent YoY: ▲ 4.67%
• Metro: York-Hanover, 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

+116.1% since first listed

15 events — show timeline

• 2026-05-06 Price Changed $124,250 BRIGHT MLS
• 2026-05-05 Pending — BRIGHT MLS
• 2026-04-23 Price Changed $145,000 BRIGHT MLS
• 2026-04-23 Relisted — BRIGHT MLS
• 2026-03-02 Listed — BRIGHT MLS
• 2026-03-02 Listed — BRIGHT MLS
• 2026-03-02 Listed $85,000 BRIGHT MLS
• 2026-03-02 Listing Removed — BRIGHT MLS
• 2026-03-02 Listed $85,000 BRIGHT MLS
• 2025-12-31 Sold (MLS) $85,000 BRIGHT MLS
• 2025-10-02 Contingent — BRIGHT MLS
• 2025-08-11 Listed $195,900 BRIGHT MLS
• 2025-06-16 Listing Removed — BRIGHT MLS
• 2025-05-06 Listed $140,000 BRIGHT MLS
• 1986-03-01 Sold (Public Records) $57,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $4,089 · +0.8% YoY. Source: county tax records.