516 E Lancaster Avenue, Downingtown, PA 19335
- $495,000
- 5
- BD
- 3
- BA
- 2,124
- SqFt
- Sold Price
- $495,000
- List Price
- $495,000
- Closing Date
- Aug 27, 2025
- Days on Market
- 25
- Status
- CLOSED
- MLS#
- PACT2099918
- Bedrooms
- 5
- Bathrooms
- 3
- Full Baths
- 2
- Half Baths
- 1
- Living Area
- 2,124
- Lot Size (Acres)
- 0.2
- Style
- Craftsman
- Year Built
- 1924
- County
- Chester
- School District
- Downingtown Area
Property Description
Looking for that perfect combination of a character-filled home and a smart investment opportunity? Step into the charm and versatility of this Craftsman-style 2,800+ SF home, ideally located in the Downingtown Borough. Offering 5 spacious bedrooms and 2 full baths, this residence is rich with character and modern potential. A standout feature is the 700 SF lower level space with its own private entrance—perfect for a small business, in-law suite, or an efficiency 1-bed 1-bath rental. Enjoy special touches like the primary bedroom’s private deck, a cozy office with its own deck accessed through French doors, and a stunning wood-burning fireplace with stone surround and wood mantel. The walk-out basement offers generous storage and houses a current tenant running a small private laundry business—providing an option for continued rental income. The backyard includes eight off-street convenient parking spots and a stone-covered area that can be converted into a grassy yard if desired for outdoor enjoyment. Zoned R4, this property presents a wealth of possibilities—utilize the full square footage as a multi-unit rental, a combination of personal residence and investment space, or simply enjoy it as a unique and spacious single-family home. Just steps from the East Ward E1 elementary school and great shopping, minutes from Kerr Park, Struble Trail and Marsh Creek State Park, and the charm of Downingtown’s vibrant borough with restaurants, breweries and artisan shops. Easy access to major routes (30, 100 & 202), this home is also located within the highly rated Downingtown Area School District. A rare opportunity with flexibility, location, and charm—all in one. This is a must see - schedule your showing today.
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Additional Information
- Area
- Downingtown Boro (10311)
- Subdivision
- Downingtown
- Taxes
- $5702
- Interior Features
- Attic, Bathroom - Tub Shower, Bathroom - Stall Shower, Breakfast Area, Carpet, Ceiling Fan(s), Floor Plan - Traditional, Formal/Separate Dining Room, Store/Office, Wood Floors, Efficiency, Other
- School District
- Downingtown Area
- Elementary School
- East Ward
- Middle School
- Lionville
- High School
- Downingtown High School East Campus
- Fireplaces
- 1
- Fireplace Description
- Mantel(s), Stone, Wood
- Flooring
- Ceramic Tile, Hardwood, Partially Carpeted, Luxury Vinyl Plank
- Exterior Features
- Sidewalks, Street Lights, Exterior Lighting
- View
- Garden/Lawn, Street
- Heating
- Hot Water, Baseboard - Electric
- Heating Fuel
- Electric, Natural Gas
- Cooling
- Window Unit(s)
- Roof
- Shingle
- Water
- Public
- Sewer
- Public Sewer
- Basement
- Yes
Mortgage Calculator
Listing courtesy of Keller Williams Real Estate - West Chester. Contact:
Selling Office: .