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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Lancaster at 116 College Ave, Lancaster, PA, 17603 offers $2,866/mo rent that, after a $1,835/mo payment, leaves $382/mo cash flow. Total monthly income is $2,866/mo, and annual cash flow is $4,589/yr on $124,279 cash. Return on cash invested measures 23.6% in year one, and rental yield stands at 9.17% at a $374,900 entry. Equity gained on principal adds $2,419/yr while 5% annual appreciation compounds into $103,578 by year five. Five-year ROI records 123.23% and total cumulative return in cash reaches $153,151. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,866/mo property income versus a $1,835/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1895
3,920 sqft lot
$N/A/sqft
No HOA
More details about the property
Price History
Date | Event | Price |
|---|---|---|
| 2025-06-30 | Listed for sale | $374,900 |
| 2011-05-10 | Sold | $126,500 |
| 2010-08-06 | Price change | $150,000 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-07-01 | $5907.74 | 1.71% | $149,300 | N/A |
| 2023-07-01 | $5808.38 | 4.34% | $149,300 | N/A |
| 2022-07-01 | $5566.52 | N/A | $149,300 | N/A |
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
No similar price properties found nearby.
Facts & Features
General Information
- Type: MultiFamily
- Year Built: 1895
- Architectural Style: Traditional
- Building Area: 2,608
- Living Area: 2,608 sqft
- Property Condition: N/A
Features & Amenities
- Heating: Hot Water, Natural Gas
- Cooling: Wall Unit(s), Window Unit(s), Electric
- Flooring: N/A
- Interior Features: N/A
- Exterior Features: N/A
- Parking Features: Garage Faces Rear, Driveway, Detached, Off Street
Location
- City: Lancaster
- Subdivision: N/A
- Lot Size: 3,920 sqft
- Lot Features: N/A
- View: N/A
HOA & Fees
- HOA Fee: N/A
- Association Fee: N/A
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: N/A
- Sewer: Public Sewer
- Water Source: Public
- Road Surface Type: N/A
School Information
- Elementary School: N/A
- Middle School: N/A
- High School: N/A
Listed by: Craig Harnish • Kingsway Realty - Lancaster
Mls Name: Bright MLS
Mls Provider:
Mls ID: #PALA2072266
Disclaimer: The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2025 Bright MLS, Inc. [Click here for more information](/mls-disclaimers/#5632)