375 Eagle Mill Rd

Connoquenessing, PA 16001

$28,500B

2 bd · 2.0 ba · 1,000 sqft · Built 1995 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,119/mo
• Mortgage (P&I): −$149
• Tax + insurance: −$46
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $689/mo
• Annual: $8,264/yr
• Cap rate: 35.29%
• Cash-on-cash: 103.55%
• DSCR: 5.61
• 1% rule: 3.92%
• Cash to close: $7,980

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $28k.
• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $197 of loan paydown is wiped out by about $855 of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#1,211 in PA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment B; Watch: health & safety C-, schools F, amenities F.
• Butler Area SD (town): math 41% / reading 59% proficiency, ranked #181 of 539 in PA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+20.4%/yr); 206 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 987 units permitted in Butler County in 2024 (0 in 5+ unit buildings).
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 35.3% vs local median 3.0% in Connoquenessing — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.