Incredible Investment Opportunity in Hanover, PA! 6-Room Boarding House with Outstanding Cap Rate and Cash-on-Cash Return over 12%! Welcome to this promising property in Hanover, Pennsylvania, offering savvy investors an exceptional opportunity. This 6 bedroom, 4 bathroom boarding house boasts an impressive cap rate and cash-on-cash return, both exceeding 12%, making it an enticing prospect for those seeking high returns. While the property may require some improvement, its potential for substantial financial gains cannot be overlooked. With an affordable entry point, you have the flexibility to customize upgrades to enhance its appeal and rental income, thereby boosting your returns over time. Situated in a location with consistent demand for affordable housing, this property offers diversified income streams and the potential for long-term growth as Hanover, PA, continues to prosper economically. Don't miss out on this unique investment offering. Seize the opportunity to shape this property to your vision and capitalize on the strong rental market in Hanover, PA.
Sold for $250,000 on 12/20/23
$250,000
404 Broadway, Hanover, PA 17331
6beds
1,496sqft
Single Family Residence
Built in 1930
3,001 Square Feet Lot
$249,400 Zestimate®
$167/sqft
$2,306 Estimated rent
Home value
$249,400
$237,000 - $262,000
$2,306/mo
Zestimate® history
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Owner options
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What's special
Zillow last checked: 10 hours ago
Listing updated: July 15, 2024 at 04:08pm
Listed by:
Nathan Barshinger 717-668-4694,
EXP Realty, LLC
Bought with:
Brad Bygall
Lime House
Source: Bright MLS,MLS#: PAYK2048834
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
- Full bathrooms: 1
- 1/2 bathrooms: 3
- Main level bathrooms: 2
- Main level bedrooms: 3
Basement
- Area: 0
Heating
- Forced Air, Natural Gas
Cooling
- Central Air, Electric
Appliances
- Included: Gas Water Heater
- Laundry: None
Features
- Basement: Full
- Has fireplace: No
Interior area
- Total structure area: 1,496
- Total interior livable area: 1,496 sqft
- Finished area above ground: 1,496
- Finished area below ground: 0
Property
Parking
- Parking features: Crushed Stone, Enclosed, Private, Off Street, Parking Lot
Accessibility
- Accessibility features: 2+ Access Exits
Features
- Levels: Two and One Half
- Stories: 2
- Pool features: None
Lot
- Size: 3,001 sqft
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 67000180145A000000
- Zoning: ROOMING HOUSE
- Zoning description: Rooming house grandfathered in as per Hanover Boro
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Colonial
- Property subtype: Single Family Residence
Materials
- Brick
- Foundation: Stone, Permanent
Condition
- Good
- New construction: No
- Year built: 1930
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Security
- Security features: Carbon Monoxide Detector(s), Smoke Detector(s)
Location
- Region: Hanover
- Subdivision: Hanover Boro
- Municipality: HANOVER BORO
Other
Other facts
- Listing agreement: Exclusive Agency
- Listing terms: Cash,Conventional,Bank Portfolio
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 6/12/2025 | Listing removed | $355,000$237/sqft |
Source:  Bright MLS #PAYK2078404 | ||
| 5/12/2025 | Price change | $355,000-2.7%$237/sqft |
Source: Bright MLS #PAYK2078404 | ||
| 3/23/2025 | Listed for sale | $365,000+46%$244/sqft |
Source: Bright MLS #PAYK2078404 | ||
| 12/20/2023 | Sold | $250,000-9.1%$167/sqft |
Source: Bright MLS #PAYK2048834 | ||
| 11/22/2023 | Pending sale | $275,000$184/sqft |
Source: Bright MLS #PAYK2048526 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,390 +0.4% | $92,610 |
| 2024 | $3,376 +3.5% | $92,610 +2.3% |
| 2023 | $3,263 +4.2% | $90,510 |
Find assessor info on the county website
Neighborhood: 17331
Nearby schools
GreatSchools rating
- 7/10Washington El SchoolGrades: K-4Distance: 0.9 mi
- 5/10Hanover Senior High SchoolGrades: 8-12Distance: 1.1 mi
- 5/10Hanover Middle SchoolGrades: 5-8Distance: 1.3 mi
Schools provided by the listing agent
- District: Hanover Public
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Sell for more on Zillow
Get a free Zillow Showcase℠ listing and you could sell for .
$249,400
2% more+ $4,988
With Zillow Showcase(estimated)
$254,388