Lebanon Homes under $500,000

Lebanon Homes under $500,000

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Newest Lebanon Homes under $500,000

407 N 5th St, Lebanon
$175,000
2 Beds ⋅ 1 Baths
Recently Remodeled, Move-In Ready, and Priced at $175,000! Welcome to 407 N 5th Street in Lebanon, PA! This spacious 2-bedroom, 1-bathroom home has been thoughtfully updated from top to bottom, offering modern finishes, extensive mechanical improvements, and versatile living space at an affordable price. Step inside to discover a refreshed interior featuring fresh paint, new flooring throughout, and an updated kitchen. Beyond the two bedrooms, the finished attic provides valuable additional space, perfect for a home office, hobby room, playroom, or whatever best suits your needs. What truly sets this property apart is the extensive investment in major systems. Improvements completed in 2022 include a new roof with a 30-year warranty, natural gas boiler, updated electrical wiring and plumbing, and a new electric water heater. For year-round comfort, the home features natural gas radiant heating along with mini-split systems installed in 2025, providing supplemental heating and air conditioning. The full basement offers plenty of additional storage, while the included washer and dryer add everyday convenience. With so many big-ticket improvements already taken care of, you can spend less time worrying about renovations and more time enjoying your new home. Whether you're a first-time homebuyer, looking to downsize, or searching for your next investment property, 407 N 5th Street offers an exceptional combination of value, functionality, and modern updates. Updated, affordable, and ready for its next chapter.

407 N 5th St, Lebanon

Listing courtesy of Coldwell Banker Realty. Contact:

216 Lehman St, Lebanon
$195,000
Looking for your first rental or a solid addition to your portfolio? 216 Lehman St is a fully occupied two-unit property with tenants already in place, so you collect rent from day one. The upper unit is a 2-bedroom rented at $950/month, and the lower unit is a 1-bedroom rented at $850/month, for $1,800/month and $21,600 a year in gross scheduled income. Each unit has its own gas meter, its own gas furnace, and its own gas water heater. Tenants pay their own heat and hot water, and you won’t have one system carrying two units or a shared gas bill to split. If something needs repair or replacement, it affects one unit instead of the whole building. The landlord covers water, sewer, and trash. Utility costs are predictable, and the bundled utilities make the units easier to rent and keep filled. Current rents sit at or below what similar units on Lehman Street are asking, which leaves room to raise rents as leases renew. With a 2-bed and a 1-bed under one roof, the property draws two different tenant pools, which helps limit vacancy risk. It’s also a straightforward setup for a new investor learning the landlord side, or a house-hacker who wants to live in one unit while the other helps pay the mortgage. Located in the city of Lebanon, close to downtown, shopping, and major routes toward Hershey, Harrisburg, and Lancaster. This is a great addition to your portfolio, or a great way to start one!

216 Lehman St, Lebanon

Listing courtesy of Keller Williams Elite. Contact:

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