516-518 Manor Street

Lancaster, PA 17603

$185,000
Last Sold Price
7
Beds
4
Baths
3,230 Sq. Ft.
$57 / Sq. Ft.
3,230
Sq. Ft.
$57
per Sq. Ft.

Description

Talk about a UNIQUE investment opportunity - take a look at this one. FIRST, you have two adjacent single-family dwellings on 1 deed, NEW rubber roof on both units, strong rents (fully leased) with low expenses (tenants pay all utilities) and an attractive cash flow & return (see Economic Analysis in documents). PLUS, these spacious homes are prime candidates to transform 2 units into 5, offering a projected annual rental income of $48,600. While your imagination starts to churn, consider the fact...Talk about a UNIQUE investment opportunity - take a look at this one. FIRST, you have two adjacent single-family dwellings on 1 deed, NEW rubber roof on both units, strong rents (fully leased) with low expenses (tenants pay all utilities) and an attractive cash flow & return (see Economic Analysis in documents). PLUS, these spacious homes are prime candidates to transform 2 units into 5, offering a projected annual rental income of $48,600. While your imagination starts to churn, consider the fact that 516 Manor offers access for Off-Street parking via Lafayette St, and the possibility to develop off-street parking for all 5 potential units - that's a asset booster in a parking-crunched neighborhood. PLUS this offering is within the Federal Opportunity Zone which provides the possibility of deferring capital gains into this investment (talk to your Tax Advisor for the details). WHAT ELSE is there to do but to schedule your showing, take a look, and bring your offer? Oh, and the seller will entertain the possibility of partial seller financing as a 2nd mortgage.
  1. Listed by Ron Mummau • Berkshire Hathaway HomeServices Homesale Realty
    P: 7174137555 rmummau@homesale.com

Property Details for 516-518 Manor Street

Tax ID Number
338-55687-0-0000
Ownership
Fee Simple
HOA
No
Structure Type
Interior Row/Townhouse
Style
Traditional
Waterfront
No
Garage
No
Municipality
LANCASTER CITY

Location

Listing Courtesy of Berkshire Hathaway HomeServices Homesale Realty

Sold By Kingsway Realty - Lancaster

Add your commute
LISTING UPDATED: 04/19/2024 02:03 PM

Property Details for 516-518 Manor Street

StatusClosed
MLS #PALA176100
Days on Market20
Taxes$3,191 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1905
Lot Size0.13 AC / 5,663 SF
CountyLancaster County

Location

Listing Courtesy of Berkshire Hathaway HomeServices Homesale Realty

Sold By Kingsway Realty - Lancaster

Add your commute

Building Information for 516-518 Manor Street

Stories-Residences2Year Built1905Building Size-Lot Size0.13 AC / 5,663 SF

Payment Calculator

$1,276 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,010

Property Taxes

$266

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 516-518 Manor Street

Location
Location
  • School District Name: SCHOOL DISTRICT OF LANCASTER
  • School District County ID: 300200397286
  • SchoolDistrictSource: Listing Agent
  • County: LANCASTER
  • MLS Area: Lancaster City (10533)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2021
  • Tax Assessed Value: $86,500
  • Year Assessed: 2020
  • Zoning: RESIDENTIAL
  • Automatically Update Tax Values Y/N: No
Lease Information
Lease Information
  • Owner Pays: Insurance, Management, Taxes - Real Estate, Repairs
  • Concessions: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 1
  • Other Units: Unit 1,Unit 2
  • Units Leased Count: 2
  • Number Of Units Vacant: 0
  • Number Of Units Month To Month: 2
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 1748
  • Unit Type Lease Type: Month to Month
  • Beds Total: 3
  • Full Baths Count: 2
Unit 2
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 1482
  • Unit Type Lease Type: Month to Month
  • Beds Total: 4
  • Full Baths Count: 2
Financial Information
Expenses
  • Operating Expense: $7,330
Financial Information
  • Net Operating Income: $13,850
  • Income Includes: Apartment Rentals
  • Cap Rate: 6.30
  • Existing Lease Type: Month to Month
Building Info
Building Info
  • Building Units Total: 2
  • Total Finished SQFT: 3,230.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Parcel ID: 4069109
Parking
Parking
  • Type Of Parking: Off Street, On Street
  • Off Street - # of Spaces: 5
  • Parking Features: Unpaved
Interior Features
Interior Features
  • Fireplaces Count: 0
  • Appliances: Oven/Range - Gas, Refrigerator
  • Accessibility Features: None
  • Window Features: Double Hung
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: None
  • Cooling Fuel: None
  • Heating Type: Forced Air, Hot Water
  • Heating Fuel: Natural Gas, Oil
  • Hot Water: Electric, Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
  • Electric Service: 100 Amp Service
Confidential Data
Listing Office
  • List Agent AOR: Lancaster County Association of REALTORS

Property History for 516-518 Manor Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 516-518 Manor Street

This home is within Lancaster School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Lafayette El School
PublicPK to 5

Wheatland Middle School
Public6 to 8

Mccaskey Campus
Public9 to 12

Phoenix Academy
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices Homesale Realty

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.