Patterson-Schwartz Real Estate516 E Lancaster Avenue, Downingtown, PA 19335-2723 $515,000
Interior Sq. Ft: 2,824
Acreage: 0.2
Age:101 years
Style:
Craftsman
Subdivision: Downingtown
Design/Type:
Detached
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 heart of 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.
Bedroom 2: 11 X 13 - Upper 1
Bedroom 3: 10 X 10 - Upper 1
Bedroom 4: Upper 1
Bedroom 5: Upper 1
Bathroom 1: Upper 1
Kitchen: Main
Dining Room: 12 X 16 - Main
Office: Main
Full Bath: Main
Basement: Lower 1
Efficiency (Additional): Lower 1
Office: Lower 1
Commercial/Retail Space: Lower 1
Home Assoc: No
Condo Assoc: No
Basement: Y
Pool: No Pool
Elem. School: East Ward Mid. School: Lionville High School: Downingtown High School East Campus
Features
Utilities
Baseboard - Electric Heating, Hot Water Heating, Electric, Natural Gas, Window Unit(s) Cooling, Electric, Hot Water - Electric, Public Water, Public Sewer, 200+ Amp Service, Hookup Laundry
Garage/Parking
Off Street, Parking Lot, Paved Parking
Interior
Attic, Breakfast Area, Carpet, Ceiling Fan(s), Combination Basement, Full Basement, Improved Basement, Interior Access Basement, Outside Entrance Basement, Rear Entrance Basement, Ceramic Tile Flooring, Hardwood Flooring, Partially Carpeted Flooring, Luxury Vinyl Plank Flooring, Mantel(s), Stone Fireplace, Wood Fireplace, Plaster Walls, Energy Efficient Windows, Replacement Windows, Window Screens, Double Hung Windows, French Doors
Exterior
Brick/Mortar Foundation, Stone Foundation, Shingle Roof, Frame Exterior, Masonry, Deck(s), Porch(es), Exterior Lighting, Sidewalks, Street Lights
Lot
Front Yard, Level Lot, Garden/Lawn View, Street View
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (16 schools)
Public Middle (6 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Downingtown Middle School | Downingtown Area School District | 7–8 | Downingtown | 1.28 mi |
| Collegium Charter School | Collegium Charter School | K–12 | Exton | 1.9 mi |
| Lionville Middle School | Downingtown Area School District | 7–8 | Exton | 3.07 mi |
| Marsh Creek Sixth Grade Center | Downingtown Area School District | 6 | Downingtown | 3.08 mi |
| Insight PA Cyber Charter School | Insight PA Cyber Charter School | K–12 | Exton | 3.33 mi |
| E N Peirce Middle School | West Chester Area School District | 6–8 | West Chester | 3.98 mi |
Public High (7 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Chester County Technical College High School-Brandywi | Chester County Technical College High School | 9–12 | Downingtown | 0.78 mi |
| Downingtown STEM Academy | Downingtown Area School District | 9–12 | Downingtown | 1.09 mi |
| Downingtown High School West Campus | Downingtown Area School District | 9–12 | Downingtown | 1.23 mi |
| Collegium Charter School | Collegium Charter School | K–12 | Exton | 1.9 mi |
| Downingtown High School East Campus | Downingtown Area School District | 9–12 | Exton | 2.74 mi |
| Insight PA Cyber Charter School | Insight PA Cyber Charter School | K–12 | Exton | 3.33 mi |
| Achievement House Charter School | Achievement House Charter School | 7–12 | Exton | 4.02 mi |
Private (13 schools)
| School | Grades | Place | Distance | |
|---|---|---|---|---|
| Bishop Shanahan High School | Roman Catholic | 9–12 | Downingtown | 0.37 mi |
| Mission For Educating Children With Autism | Nonsectarian | Ungraded | Downingtown | 0.59 mi |
| Lori Petrie Preschool | Nonsectarian | Preschool–K | Downingtown | 0.84 mi |
| Devereux Day School-Cares | Nonsectarian | Ungraded | Downingtown | 0.87 mi |
| St Joseph School | Roman Catholic | Preschool–8 | Downingtown | 1.21 mi |
| Kindercare Learning Center | Nonsectarian | K | Downingtown | 1.7 mi |
| Creative Kids Of Downingtown | Nonsectarian | K | Downingtown | 2.63 mi |
| Kindercare Learning Center | Nonsectarian | K | Exton | 3.52 mi |
| The Goddard School - Exton | Nonsectarian | Preschool–K | Exton | 4.09 mi |
| Great Beginnings Christian Kindergarten | Methodist | Preschool–K | Exton | 4.18 mi |
| Windsor Christian Academy | Baptist | K–8 | Uwchland | 4.55 mi |
| Ss Philip & James Elementary School | Roman Catholic | Preschool–8 | Exton | 4.73 mi |
| Cidds Learning Center | Nonsectarian | Ungraded | West Chester | 4.81 mi |
© 2025 LiveBy. All Rights Reserved.
This report is a detailed community overview for Downingtown (19335), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 29
- Average salary of people in this community: $80,318
Community Summary
- Population Density (ppl / mile): 1,121
- Household Size (ppl): 2.70
- Households w/ Children: 67%
Housing Inventory
- Owned: 14,579 (77.2%)
- Rented: 3,396 (18.0%)
- Vacant: 914 (4.8%)
- Total: 18,889
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 1.2%
- Some High School: 1.6%
- High School Graduate: 19.4%
- Some College: 13.7%
- Associate Degree: 8.5%
- Bachelor's Degree: 35.6%
- Graduate Degree: 20.1%
Income by dollar range
Median Income: $112,116
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $895
- One Bedroom: $1,158
- Two Bedroom: $1,323
- Three Bedroom: $1,427
- Four Bedroom: $1,929
© 2025 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-285-0977
Listing Courtesy of: Keller Williams Real Estate - West Chester , (610) 399-5100, klrw472@kw.com
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 in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 6/06/2025.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.
