213 E Ross St · Lancaster, PA 17602

$279,900

4 bd · 2.0 ba · 1,654 sqft · MultiFamily public records · 90 Days on market

Built 1925 3,049 sqft lot $169/sqft · 18% below area Est $340k · 18% 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 +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

Key facts

• Garage
• Built 1925
• Listed 90 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Recommended offer: $263k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 4.3% in Lancaster — 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 85/100 on livability (#71 in PA, #498 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment C-.
• Lancaster SD (urban): math 12% / reading 25% proficiency, ranked #500 of 539 in PA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.2%/yr); 163 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,093 units permitted in Lancaster County in 2024 (201 in 5+ unit buildings).
• At $4,430/mo this rent would consume 70% of the median local household income ($76k/yr) (locally 1556% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Lancaster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $78k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $141k; list at $280k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.58% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.48%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (median comp): $340,105
• List price: $279,900
• Delta: -17.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 N Shippen St	0.21mi	4/—	1,742 (+5%)	15mo	$300,000	$172	69
524 N Plum St	0.44mi	3/2.0 (-1)	1,512 (-9%)	20mo	$210,000	$139	43
35 E Lemon St	0.50mi	4/—	1,848 (+12%)	19mo	$350,000	$189	41

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 · 1.2% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.57×
• Total profit: $44,533
• Equity at exit: $41,734

10-year hold

• IRR: 21.9%
• Equity multiple: 2.71×
• Total profit: $133,719
• Equity at exit: $24,201

Cash invested: $78,372 (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 17602

• Rents YoY: 1.2%
• Active inventory: 163
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $4,430 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$382 /mo · $4,578/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$930
• Net cashflow: $1,534

Break-even live

Break-even rent $2,489

Max offer price $279,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,692	-5% $1,613	+0% $1,534	+5% $1,455	+10% $1,375
Rent	-10% $1,184	-5% $1,359	+0% $1,534	+5% $1,709	+10% $1,884
Rate	-1.0pp $1,675	-0.5pp $1,605	base $1,534	+0.5pp $1,461	+1.0pp $1,387

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,431
Total (3 units)			$4,430

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
836 N Plum St Lancaster, PA	3.0	2.0	1602	$2,150	$1.34	15d	1	0.18mi
860 N Market St Lancaster, PA	3.0	2.0	1514	$1,850	$1.22	45d	1	0.34mi
631 E Frederick St Lancaster, PA	3.0	1.0	1830	$1,850	$1.01	45d	1	0.41mi
403 N Queen St Lancaster, PA	3.0	2.0	1950	$3,500	$1.79	15d	1	0.55mi
766 New Holland Ave Lancaster, PA	3.0	1.0	1152	$1,795	$1.56	15d	1	0.66mi
862 Pleasure Rd Lancaster, PA	3.0	1.5	1707	$2,300	$1.35	45d	1	0.77mi
337 W Lemon St Unit 2 Lancaster, PA	3.0	1.0	1588	$1,895	$1.19	15d	1	0.78mi
738 E Madison St Lancaster, PA	3.0	1.0	1102	$1,750	$1.59	45d	1	0.81mi
520 W Frederick St Lancaster, PA	4.0	1.0	1713	$1,895	$1.11	45d	1	0.83mi
118 N Prince St Lancaster, PA	1.0–3.0	1.0–3.0	1274	$4,703	$3.69	15d	48	0.89mi
49 W Farnum St Lancaster, PA	3.0	1.0	1820	$1,650	$0.91	45d	1	1.21mi
214 W Strawberry St Lancaster, PA	3.0	1.0	1175	$1,345	$1.14	22d	1	1.21mi
14 Coral St Lancaster, PA	3.0	1.5	1355	$1,525	$1.13	45d	1	1.30mi
529 Manor St Lancaster, PA	3.0	1.0	1434	$1,635	$1.14	15d	1	1.31mi
678 1/2 Columbia Ave Apt 2 Lancaster, PA	3.0	1.0	1100	$1,495	$1.36	15d	1	1.32mi
549 Howard Ave Lancaster, PA	4.0	1.0	1439	$1,700	$1.18	45d	1	1.34mi
513 Poplar St Lancaster, PA	3.0	1.5	1184	$1,695	$1.43	45d	1	1.37mi
708 S Lime St Unit 3 Lancaster, PA	4.0	1.0	1742	$1,850	$1.06	45d	1	1.38mi
345 1/2 Beaver St Lancaster, PA	4.0	1.0	1382	$2,095	$1.52	45d	1	1.39mi
609 Saint Joseph St Lancaster, PA	4.0	2.0	1523	$1,695	$1.11	45d	1	1.43mi
537 Woodward St Lancaster, PA	3.0	2.0	1288	$1,650	$1.28	24d	1	1.47mi

Listing history 19 events

1. 2026-05-03
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

2. 2026-04-17
   price $279,900 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

3. 2026-04-17
   status Active 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

4. 2026-04-14
   historical 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

5. 2026-03-11
   price $289,000 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

6. 2026-01-30
   listed $299,000 Active 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

7. 2026-01-26
   historical $299,000 506-char remark

   Show marketing remark (506 chars)

   Welcome to 213 E. Ross Street Lancaster PA! Beautiful move-in ready home within walking distance of downtown Lancaster, numerous restaurants, the Lancaster Train Station, and local shops. This 4 bedroom 2 full bath home features 1,654 SF of living space, OFF Street parking for 2 cars plus a 1 car garage, large living room, formal dining room, 4 large bedrooms on the second and third floor, 2 full bathrooms, gas heat, wood floors, relaxing front porch, open back yard, and more! Set up a tour today!

8. 2025-09-08
   historical $2,195
9. 2025-08-23
   price $2,195
10. 2025-08-19
    price $2,295
11. 2025-08-01
    price $2,350
12. 2025-07-31
    price $2,250
13. 2025-07-26
    listed $2,350
14. 2018-07-03
    soldstatus $141,000
15. 2018-07-02
    soldstatus $141,000 213-char remark

    Show marketing remark (213 chars)

    Beautiful Move in Ready 3 Bedroom City Home with Bonus room and Off Street Parking! Qualifies for Lancaster General Hospitals Home in the City Program! Walking distance to downtown and quick access to the highway.

16. 2018-04-06
    listed $149,000 213-char remark

    Show marketing remark (213 chars)

    Beautiful Move in Ready 3 Bedroom City Home with Bonus room and Off Street Parking! Qualifies for Lancaster General Hospitals Home in the City Program! Walking distance to downtown and quick access to the highway.

17. 2018-04-06
    historical 213-char remark

    Show marketing remark (213 chars)

    Beautiful Move in Ready 3 Bedroom City Home with Bonus room and Off Street Parking! Qualifies for Lancaster General Hospitals Home in the City Program! Walking distance to downtown and quick access to the highway.

18. 2012-01-27
    soldstatus $103,000
19. 2011-09-21
    soldstatus $44,500

ⓘ 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: $4,578 · $382/mo
• Projected year-2 tax: $4,578 · $382/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,160
• − Mortgage interest: −$15,679
• − Property taxes: −$4,578
• − Insurance: −$1,400
• − Repairs & maintenance: −$4,253
• − Management: −$4,253
• − Depreciation: −$8,143
• Taxable income: $14,856
• Est. tax owed @ 24.0%: −$3,565
• After-tax cash flow: $14,840/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: Lancaster SD
• NCES district ID: 4213140
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -13.00%
• Median HH income: $38,500
• Composite: 15.52/100
• National rank: #9301
• State rank: #500 of 539 in PA

Livability — Lancaster

• Score: 85/100
• State rank: #71
• US rank: #498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, PA
• County: Lancaster County · 390,309 people
• City population: 176,170
• Metro: Lancaster, PA
• Population (ZIP): 52,217
• Household income: $75,862
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1556.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 561,011 people
• By 2030: 570,969 · +1.8%
• By 2040: 585,929 · +4.4%
• By 2050: 591,056 · +5.4%
• By 2075: 594,747 · +6.0%
• By 2100: 558,850 · -0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Hispanic / Latino 32% Two or more races 12% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 21% Cuban 1% Dominican 4%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 70% English-only · Spanish 22% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Lancaster

• 2024 margin: R (+15.9) · D 41.5% · R 57.5%
• 2008→2024 swing: -4.1pp toward R · 2008: -11.8pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.8 2016: R+19.7 2012: R+19.2 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.05%
• Current HPI: 288.9141
• Rent YoY: ▲ 1.20%
• Metro: Lancaster, 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

+529.0% since first listed

19 events — show timeline

• 2026-05-03 Pending — BRIGHT MLS
• 2026-04-17 Price Changed $279,900 BRIGHT MLS
• 2026-04-17 Relisted — BRIGHT MLS
• 2026-04-14 Listing Removed — BRIGHT MLS
• 2026-03-11 Price Changed $289,000 BRIGHT MLS
• 2026-01-30 Listed $299,000 BRIGHT MLS
• 2026-01-26 Coming Soon $299,000 BRIGHT MLS
• 2025-09-08 Rental Removed $2,195 TENANTTURNER2
• 2025-08-23 Price Changed $2,195 TENANTTURNER2
• 2025-08-19 Price Changed $2,295 TENANTTURNER2
• 2025-08-01 Price Changed $2,350 TENANTTURNER2
• 2025-07-31 Price Changed $2,250 TENANTTURNER2
• 2025-07-26 Listed for Rent $2,350 TENANTTURNER2
• 2018-07-03 Sold (Public Records) $141,000 Public Records
• 2018-07-02 Sold (MLS) $141,000 BRIGHT MLS
• 2018-04-06 Listing Removed — BRIGHT MLS
• 2018-04-06 Listed $149,000 BRIGHT MLS
• 2012-01-27 Sold (Public Records) $103,000 Public Records
• 2011-09-21 Sold (Public Records) $44,500 Public Records

Property tax history

+2.2%/yr

Latest (2026): $4,578 · +3.3% YoY. Source: county tax records.