44 Adams Dr

Fox Chapel, PA 15024

$58,000A-

2 bd · 1.5 ba · 1,080 sqft · Built 2012 · Manufactured · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,415/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$507
• Net cashflow: $1,462/mo
• Annual: $17,547/yr
• Cap rate: 36.55%
• Cash-on-cash: 108.05%
• DSCR: 5.81
• 1% rule: 4.16%
• Cash to close: $16,240

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $58k.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• It's been on market 40 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#764 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Fox Chapel Area SD (suburban): math 73% / reading 85% proficiency, ranked #7 of 539 in PA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 36.5% vs local median 0.6% in Fox Chapel — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.