Seller's Agent in 2021
Ron Mummau
Berkshire Hathaway HomeServices Homesale Realty
(717) 413-7555
8 in this area
100 Total Sales
516 Manor St Lancaster, PA 17603
Cabbage Hill NeighborhoodEstimated Value: $140,000 - $228,000
Studio
2
Baths
3,230
Sq Ft
$53/Sq Ft
Est. Value
Highlights
- 0.13 Acre Lot
- No HOA
- Hot Water Heating System
- Traditional Architecture
- Forced Air Heating System
- 3-minute walk to Crystal Park
About This Home
As of March 2021Talk 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.
Last Agent to Sell the Property
(717) 786-1300 cdavis@homesale.com Berkshire Hathaway HomeServices Homesale Realty License #5014222 Listed on: 01/15/2021
Last Buyer's Agent
(717) 569-8701 lynn@kingswayrealty.com Kingsway Realty - Lancaster License #RS168511L
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,191
Year Built
- Built in 1905
Lot Details
- 5,663 Sq Ft Lot
- Property is in average condition
Home Design
- Duplex
- Traditional Architecture
- Brick Exterior Construction
- Shingle Roof
- Rubber Roof
Interior Spaces
- Double Hung Windows
- Basement Fills Entire Space Under The House
- Gas Oven or Range
Parking
- 5 Parking Spaces
- 5 Off-Street Spaces
- Unpaved Parking
- On-Street Parking
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Heating System Uses Oil
- Hot Water Heating System
- 100 Amp Service
- Natural Gas Water Heater
Listing and Financial Details
- The owner pays for insurance, management, real estate taxes, repairs
- Assessor Parcel Number 338-55687-0-0000
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Income includes apartment rentals
- Operating Expense $7,330
- Net Operating Income $13,850
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 15, 2021
Closed on
Mar 11, 2021
Sold by
Federal Land Trust Llc
Bought by
Weiler Lester L and Weiler Nathaniel L
Seller's Agent
Ron Mummau
Berkshire Hathaway HomeServices Homesale Realty
Buyer's Agent
Ervin Barkman
Kingsway Realty - Lancaster
List Price
$199,500
Sold Price
$185,000
Premium/Discount to List
-$14,500
-7.27%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$13,456
Avg. Annual Appreciation
-1.50%
Original Mortgage
$75,000
Outstanding Balance
$67,266
Interest Rate
2.73%
Mortgage Type
Construction
Estimated Equity
$104,278
Purchase Details
Closed on
Sep 4, 2018
Sold by
Bigler Samuel L
Bought by
Federal Land Trust Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Interest Rate
4.5%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
May 25, 2016
Sold by
Wilson Scott
Bought by
Bigler Samuel L
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Weiler Lester L | $92,500 | Premier Settlements | |
| Federal Land Trust Llc | $150,000 | Abstract Associates Of Lanca | |
| Bigler Samuel L | -- | Attorney |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Weiler Lester L | $75,000 | |
| Previous Owner | Federal Land Trust Llc | $250,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/11/2021 03/11/21 | Sold | $185,000 | -7.3% | $57 / Sq Ft |
| 02/08/2021 02/08/21 | Pending | -- | -- | -- |
| 01/15/2021 01/15/21 | For Sale | $199,500 | -- | $62 / Sq Ft |
Source: Bright MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,618 | $40,900 | $14,700 | $26,200 |
| 2024 | $1,618 | $40,900 | $14,700 | $26,200 |
| 2023 | $1,591 | $40,900 | $14,700 | $26,200 |
| 2022 | $1,525 | $40,900 | $14,700 | $26,200 |
| 2021 | $1,492 | $40,900 | $14,700 | $26,200 |
| 2020 | $1,492 | $40,900 | $14,700 | $26,200 |
| 2019 | $1,470 | $40,900 | $14,700 | $26,200 |
| 2018 | $872 | $40,900 | $14,700 | $26,200 |
| 2017 | $1,842 | $40,100 | $13,900 | $26,200 |
| 2016 | $1,825 | $40,100 | $13,900 | $26,200 |
| 2015 | $712 | $40,100 | $13,900 | $26,200 |
| 2014 | $1,593 | $40,100 | $13,900 | $26,200 |
Source: Public Records
Agents Affiliated with this Home
-
Ron Mummau
-
Ervin Barkman
Buyer's Agent in 2021
Ervin Barkman
Kingsway Realty - Lancaster
(717) 468-4424
9 in this area
105 Total Sales
Map
Source: Bright MLS
MLS Number: PALA176100
APN: 338-55687-0-0000
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