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Sold for $495,000
    • $495,000

    516 E Lancaster Ave, Downingtown, PA 19335

    6beds
    3baths
    2,824sqft
    Multi Family
    Built in 1924
    -- sqft lot
    $509,400 Zestimate®
    $175/sqft
    $1,952 Estimated rent

    Home value

    $509,400

    $479,000 - $545,000

    $1,952/mo

    Zestimate® history
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    What's special

    Looking for a high-potential investment property in a prime location? This Craftsman-style residence in the Downingtown Borough is a unique opportunity for multi-family investors. Zoned R4 and offering flexible use, the property includes two rentable spaces, making it ideal for a full investment conversion or a mixed-use portfolio asset. The main structure includes a 5-bedroom, 2-bath unit full of charm and historic character—ideal for long-term or short-term rental. A separate 700SF space with a private entrance can function as a 1-bed, 1-bath efficiency rental or a small business unit. Additional features include eight off-street parking spaces, a stone-covered rear yard (which could be converted to additional parking, green space, or tenant recreation), and multiple decks that enhance livability and appeal. French doors open to a private deck off the office space, and the primary bedroom office includes a second deck, perfect for work-from-home renters. Located within walking distance to Downingtown Borough’s shops, dining, and parks, and just minutes to Routes 30, 100, and 202, this property is also in the top-rated Downingtown Area School District—an added draw for quality tenants. With its flexible zoning, strong rental history, and desirable location, this is a rare multi-family investment opportunity with built-in value and future upside.

    Zillow last checked:

    Listing updated:

    Listed by:

    Andrea Napoli 610-405-8326,

    Keller Williams Real Estate - West Chester

    Bought with:

    Paul Graci, RS341436

    Coldwell Banker Realty

    Source: Bright MLS,MLS#: PACT2101916MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 6
    • Bathrooms: 3
    Basement
    • Area: 700
    Heating
    • Hot Water, Baseboard, Electric, Natural Gas
    Cooling
    • Window Unit(s), Electric
    Appliances
    • Included: Refrigerator, Dishwasher, Oven/Range - Electric, Electric Water Heater
    Features
    • Attic, Bathroom - Tub Shower, Bathroom - Stall Shower, Breakfast Area, Ceiling Fan(s), Floor Plan - Traditional, Formal/Separate Dining Room, Store/Office, Efficiency, Other, Plaster Walls
    • Flooring: Ceramic Tile, Hardwood, Carpet, Luxury Vinyl, Wood
    • Doors: French Doors
    • Windows: Replacement, Screens, Double Hung, Energy Efficient
    • Basement: Exterior Entry,Rear Entrance,Walk-Out Access,Other
    • Number of fireplaces: 1
    Interior area
    • Total structure area: 2,824
    • Total interior livable area: 2,824 sqft

    Property

    Parking
    • Total spaces: 8
    • Parking features: Paved, Crushed Stone, Parking Lot, Off Street
    Accessibility
    • Accessibility features: None
    Features
    • Patio & porch: Porch, Deck
    • Exterior features: Sidewalks, Street Lights, Lighting
    • Pool features: None
    • Has view: Yes
    • View description: Garden, Street
    Lot
    • Size: 8,700 Square Feet
    • Features: Level, Front Yard
    Details
    • Additional structures: Above Grade, Below Grade
    • Parcel number: 1105 0045
    • Zoning: R4
    • Zoning description: Single-family, two-family, multifamily dwelling, and some non-residential uses
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Craftsman
    • Property subtype: Multi Family
    Materials
    • Frame, Masonry
    • Foundation: Brick/Mortar, Stone
    • Roof: Shingle
    Condition
    • Very Good
    • New construction: No
    • Year built: 1924

    Utilities & green energy

    • Electric: 200+ Amp Service
    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Subdivision: Downingtown
    Location
    • Region: Downingtown
    • Municipality: DOWNINGTOWN BORO

    Financial & listing details

    • Price per square foot: $175/sqft
    • Tax assessed value: $128,070
    • Annual tax amount: $5,702
    • Date on market: 6/19/2025
    • Listing agreement: Exclusive Right To Sell
    • Listing terms: Cash,Conventional,FHA,VA Loan
    • Inclusions: Window Ac Units, Kitchen Refrigerator
    • Exclusions: Washers And Dryers
    • Ownership: Fee Simple

    Price history

    DateEventPrice
    11/26/2025Listing removed$2,975$1/sqft
    Source: Bright MLS #PACT2110580 Report a problem
    10/19/2025Price change$2,975-4%$1/sqft
    Source: Bright MLS #PACT2110580 Report a problem
    10/13/2025Price change$3,100-3.1%$1/sqft
    Source: Bright MLS #PACT2110580 Report a problem
    10/6/2025Price change$3,200+8.5%$1/sqft
    Source: Bright MLS #PACT2110580 Report a problem
    10/2/2025Price change$2,950-7.8%$1/sqft
    Source: Bright MLS #PACT2110580 Report a problem
    9/30/2025Listed for rent$3,200$1/sqft
    Source: Bright MLS #PACT2110580 Report a problem
    9/3/2025Sold$495,000$175/sqft
    Source: Bright MLS #PACT2101916 Report a problem
    7/23/2025Pending sale$495,000$175/sqft
    Source: Bright MLS #PACT2101916 Report a problem
    6/29/2025Contingent$495,000$175/sqft
    Source: Bright MLS #PACT2099918 Report a problem
    6/18/2025Price change$495,000-3.9%$175/sqft
    Source: Bright MLS #PACT2099918 Report a problem
    6/5/2025Listed for sale$515,000+66.1%$182/sqft
    Source: Bright MLS #PACT2099918 Report a problem
    10/12/2005Sold$310,000+83.4%$110/sqft
    Source: Public Record Report a problem
    3/25/2004Sold$169,000+3.7%$60/sqft
    Source: Public Record Report a problem
    10/17/2002Sold$163,000$58/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$5,702 +3.8%$128,070
    2024$5,496 +2.8%$128,070
    2023$5,348 +2.5%$128,070
    2022$5,220 +2.1%$128,070
    2021$5,113 +259.1%$128,070
    2020$1,424 -71.6%$128,070
    2019$5,020 $128,070
    2018$5,020 +9900.9%$128,070
    2017$50 -98.9%$128,070
    2016$4,585 $128,070
    2015$4,585 $128,070
    2014$4,585 $128,070
    2013-- $128,070
    2012-- $128,070
    2011-- $128,070
    2010-- $128,070
    2009-- $128,070
    2008-- $128,070 +0.5%
    2007-- $127,400
    2006-- $127,400 +7.5%
    2005-- $118,540
    2004-- $118,540
    2003-- $118,540
    2000-- $118,540
    Find assessor info on the county website

    Neighborhood: 19335

    Nearby homes

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • Elementary: East Ward
    • Middle: Lionville
    • High: Downingtown High School East Campus
    • District: Downingtown Area

    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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    Estimated market value
    $509,400
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $509,400

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